2505 Cedar St · Louisville, KY 40212

$145,000

3 bd · 1.5 ba · 1,333 sqft · Other · 92 Days on market

Built 2000 0.49 ac lot

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Key facts

• 0.49 acre lot
• Built 2000
• Listed 92 days

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Electricity connected
• Home design: Traditional single-family home; Two stories; Entry level includes first and second floors
• Construction: Built in 2000; Brick construction; Shingle roof; Crawl space foundation
• Exterior features: Partial chain-link fencing; Lot approximately 0.49 acres

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Three bedrooms located on the second floor
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Five total rooms; Six closets; Basement: none; First-floor laundry
• Laundry & utility: Laundry located on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $145k.

Deal economics

• At list price, monthly cash flow is $87 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (17.7% below list).
• Recommended offer: $119k (17.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.0% in Louisville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 63/100 on livability (#333 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D+, schools D-.
• Jefferson County (urban): math 19% / reading 35% proficiency, ranked #121 of 165 in KY (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 141 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• This rent runs 40% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Jefferson County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 0.5% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,358 (17.7% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.58%
• DSCR: 1.11
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 25.3%
• Equity multiple: 3.01×
• Total profit: $81,535
• Equity at exit: $130,627

10-year hold

• IRR: 21.8%
• Equity multiple: 6.67×
• Total profit: $230,257
• Equity at exit: $281,703

Cash invested: $40,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kentucky: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit (URLTA cities); generally landlord-friendly.

Methodology + full state rankings →

ZIP-level market 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 141
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,194 high
• Mortgage (P&I): −$760
• Tax from tax record: −$35 /mo · $419/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $87

Break-even live

Break-even rent $1,083

Max offer price $145,000

Occupancy floor 88%

Sensitivity live

Price	-10% $169	-5% $128	+0% $87	+5% $46	+10% $5
Rent	-10% $-7	-5% $40	+0% $87	+5% $134	+10% $181
Rate	-1.0pp $160	-0.5pp $124	base $87	+0.5pp $50	+1.0pp $11

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	25d	1	0.11mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	25d	1	0.12mi
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	17d	1	0.21mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	25d	1	0.23mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	25d	1	0.23mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	18d	1	0.23mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	25d	1	0.23mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	25d	1	0.27mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	25d	1	0.32mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	22d	1	0.34mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	25d	1	0.34mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	25d	1	0.38mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	25d	1	0.41mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	25d	1	0.45mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	4d	4	0.47mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	17d	1	0.51mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	17d	1	0.52mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	17d	1	0.52mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	13d	1	0.57mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	25d	1	0.59mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	25d	1	0.74mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	4d	1	0.75mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	25d	1	0.75mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	4d	1	0.77mi
1810 Magazine St Louisville, KY	3.0	1.5	1248	$1,450	$1.16	11d	1	0.77mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	4d	1	0.77mi
666 Eastlawn Ave Louisville, KY	2.0	1.0	936	$895	$0.96	17d	1	0.80mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	25d	1	0.82mi
1612 W Market St Unit 2 Louisville, KY	2.0	2.0	900	$1,000	$1.11	25d	1	0.85mi
3421 River Park Dr Louisville, KY	3.0	1.0	994	$1,250	$1.26	25d	1	0.86mi
1700 Magazine St Unit 3 Louisville, KY	2.0	1.0	900	$1,150	$1.28	18d	1	0.87mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	25d	1	0.88mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	21d	1	0.89mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	25d	1	0.89mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	4d	1	0.90mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	17d	1	0.93mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	25d	1	0.95mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	25d	1	0.97mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	4d	1	0.97mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	25d	1	0.99mi

Listing history 21 events

1. 2026-06-21
   days on market $145,000 Active 92 DOM
2. 2026-06-18
   days on market $145,000 Active 89 DOM
3. 2026-06-17
   days on market $145,000 Active 88 DOM
4. 2026-06-16
   days on market $145,000 Active 87 DOM
5. 2026-06-15
   days on market $145,000 Active 86 DOM
6. 2026-06-13
   days on market $145,000 Active 84 DOM
7. 2026-06-10
   days on market $145,000 Active 81 DOM
8. 2026-06-09
   days on market $145,000 Active 80 DOM
9. 2026-06-08
   days on market $145,000 Active 79 DOM
10. 2026-06-07
    days on market $145,000 Active 78 DOM
11. 2026-06-03
    days on market $145,000 Active 74 DOM
12. 2026-06-02
    days on market $145,000 Active 73 DOM
13. 2026-06-01
    days on market $145,000 Active 72 DOM
14. 2026-05-31
    days on market $145,000 Active 71 DOM
15. 2026-03-21
    listed $145,000 Active
16. 2026-03-20
    historical
17. 2025-09-20
    listed $145,000 Active
18. 2025-09-19
    historical
19. 2024-12-19
    price $145,000
20. 2024-09-19
    listed $153,000 Active
21. 2018-10-31
    soldstatus $3,240,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KY · Resets to sale price

• Current annual tax: $419 · $35/mo
• Projected year-2 tax: $1,247 · $104/mo
• Expected delta: +$828/yr (+$69/mo · 197.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,323
• − Mortgage interest: −$8,122
• − Property taxes: −$419
• − Insurance: −$725
• − Repairs & maintenance: −$1,146
• − Management: −$1,146
• − Depreciation: −$4,218
• Taxable loss: −$1,453
• Est. tax savings @ 24.0%: +$349
• After-tax cash flow: $1,395/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Jefferson County
• NCES district ID: 2102990
• Math proficiency: 19% ▼ -17.00%
• Reading proficiency: 35% ▼ -11.00%
• Median HH income: $47,885
• Composite: 23.45/100
• National rank: #7884
• State rank: #121 of 165 in KY

Livability — Louisville

• Score: 63/100
• State rank: #333
• US rank: #15887

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment C- Housing A+ Health & safety D+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Louisville, KY
• County: Jefferson County · 790,184 people
• City population: 769,292
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 14,661
• Household income: $35,753
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1148.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 823,112 people
• By 2030: 849,343 · +3.2%
• By 2040: 895,696 · +8.8%
• By 2050: 933,630 · +13.4%
• By 2075: 1,028,262 · +24.9%
• By 2100: 1,072,675 · +30.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (60%)
• Race & ethnicity: Black 60% White 37% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Jefferson

• 2024 margin: D (+16.6) · D 57.4% · R 40.9% · Other 1.7%
• 2008→2024 swing: +4.5pp toward D · 2008: 12.0pp · 2024: 16.6pp
• All cycles: 2024: D+16.6 2020: D+20.1 2016: D+13.3 2012: D+11.1 2008: D+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 29.02%
• Current HPI: 293.2624
• Rent YoY: ▲ 0.51%
• Metro: Louisville/Jefferson County, KY-IN
• State GDP YoY: ▲ 1.81%
• F500 in state: 4

Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B

Price history

-95.5% since first listed

7 events — show timeline

• 2026-03-21 Listed $145,000 Metro Search MLS
• 2026-03-20 Listing Removed — Metro Search MLS
• 2025-09-20 Listed $145,000 Metro Search MLS
• 2025-09-19 Listing Removed — Metro Search MLS
• 2024-12-19 Price Changed $145,000 Metro Search MLS
• 2024-09-19 Listed $153,000 Metro Search MLS
• 2018-10-31 Sold (Public Records) $3,240,000 Public Records

Property tax history

+0.0%/yr

Latest (2018): $419 · +1.6% YoY. Source: county tax records.