4501 S 6th St #44 · Louisville, KY 40214

$64,000

1 bd · 1.0 ba · 538 sqft · Condo · 18 Days on market

Built 1981 $280/mo HOA · 32% of rent

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Why this score? — see what drove the D 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 +11.9/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +3.5/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Must see this beautifully renovated condo! All freshly painted, new luxury vinyl plank flooring throughout, all new lighting and ceiling fans and window blinds, beautiful new stainless appliances in the kitchen as well as all new cabinetry, sink and faucet. The bathroom has new lighting, vanity, and toilet. Everything has been professionally done and it sparkles! The monthly maintenance fee includes heat, water, sewer, trash, exterior maintenance and master insurance for the Association. Abundant parking, convenient location near highways, shopping and parks. The monthly fee is $150 plus a $90 special assessment for reserves, repairs and improvements. Seller is an escrowed real estate agent in the State of Kentucky (not listing agent). Easy to show, great for owners or investors.

Key facts

• Rental friendly hoa
• Move in ready
• $280 HOA

Tags

• FULLY FURNISHED CONDO
• MOVE IN READY
• WELL EQUIPPED KITCHEN
• ABUNDANT CLOSET STORAGE
• RENTAL FRIENDLY HOA
• AMPLE OFF STREET PARKING

Property features AI

Finance

• Other: Building has 100 condo units; building number 2; two building floors
• HOA & community: Condo association with monthly maintenance fee (maintenance includes exterior maintenance, groundskeeping, heat, master insurance, sewer, snow removal, trash and water); Association allows rentals

Exterior

• Parking: Parking details: see remarks
• Utilities: Electricity connected; No central HVAC units reported
• Home design: Condominium; Two-story building; unit located on level 2 of the building; Architectural style: Other
• Construction: Built in 1981; Brick construction; Shingle roof; Crawl space foundation
• Exterior features: Surface parking available; Pets allowed with restrictions

Interior

• Kitchen: Kitchen on the first floor; Dining area on the first floor
• Bedrooms: One bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Radiant heating; Wall/window air conditioning unit(s)
• Interior features: Four total rooms; Four closets; No basement
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $64k.

Deal economics

• At list price, monthly cash flow is $-16 ($-191/yr) — negative.
• To cash-flow at today's rent, offer at most $61k (4.4% below list).
• Meets the 1% rule at list price ($879 rent vs $64k).
• Recommended offer: $61k (4.4% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 5.0% in Louisville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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+, crime F.
• 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.
• Zoned schools: Semple Elementary (math 2% / reading 12%, grade F, #662 of 676 statewide, top 99%, 574 students, 79% FRL); Frederick Law Olmsted Academy North (math 5% / reading 15%, grade F, #217 of 217 statewide, top 100%, 510 students, 74% FRL); Iroquois High (math 12% / reading 8%, grade F, #245 of 254 statewide, top 97%, 1,090 students, 74% FRL) — zoned schools average 76% FRL vs 56% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 9% at this address vs 27% district-wide (-18 pts) — the specific schools serving this property underperform the Jefferson County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.9%/yr); 247 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $442 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jefferson County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• 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 $61,182 (4.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.89% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.32×
• Total profit: $-12,180
• Equity at exit: $9,543

10-year hold

• IRR: -16.1%
• Equity multiple: 0.16×
• Total profit: $-15,086
• Equity at exit: $5,534

Cash invested: $17,920 (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 40214

• Rents YoY: 1.9%
• Active inventory: 247
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $879 high
• Mortgage (P&I): −$336
• Tax from tax record: −$68 /mo · $813/yr
• Insurance: −$27
• HOA: −$280
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $-16

Break-even live

Break-even rent $899

Max offer price $61,182

Occupancy floor 97%

Sensitivity live

Price	-10% $20	-5% $2	+0% $-16	+5% $-34	+10% $-52
Rent	-10% $-85	-5% $-51	+0% $-16	+5% $19	+10% $53
Rate	-1.0pp $16	-0.5pp $0	base $-16	+0.5pp $-33	+1.0pp $-49

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4501 S 6th St #82 Louisville, KY	1.0	1.0	538	$775	$1.44	18d	1	0.02mi
554 Camden Ave Louisville, KY	1.0	1.0	661	$875	$1.32	25d	1	0.28mi
309 W Whitney Ave Louisville, KY	1.0	1.0	700	$875	$1.25	25d	1	0.40mi
4626 Southern Pkwy Louisville, KY	1.0–2.0	1.0	809	$825	$1.02	16d	3	0.42mi
4619 Southern Pkwy Unit 3 Louisville, KY	1.0	1.0	700	$975	$1.39	3d	1	0.44mi
4012 Southern Pkwy Unit 5 Louisville, KY	1.0	1.0	600	$795	$1.32	25d	1	0.49mi
4012 Southern Pkwy Unit 8 Louisville, KY	1.0	1.0	600	$795	$1.32	16d	1	0.50mi
4704 Southern Pkwy Unit A1 Louisville, KY	1.0	1.0	750	$775	$1.03	18d	1	0.54mi
1022 Stanley Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	23d	1	0.58mi
4228 Allmond Ave Unit 2 Louisville, KY	1.0	1.0	650	$700	$1.08	4d	1	0.60mi
623 Dresden Ave Louisville, KY	2.0	1.0	750	$975	$1.30	17d	1	0.62mi
1105 Beecher St Louisville, KY	2.0	1.0	708	$1,150	$1.62	17d	1	0.63mi
1111 Dresden Ave Louisville, KY	2.0	1.0	680	$1,100	$1.62	17d	1	0.83mi
5011 Southside Dr Louisville, KY	1.0–2.0	1.0	800	$899	$1.12	3d	9	1.10mi
5011 Southside Dr Louisville, KY	1.0–2.0	1.0	800	$899	$1.12	25d	1	1.10mi
4122 Craig Ave Louisville, KY	2.0	1.0	705	$1,051	$1.49	13d	1	1.24mi
1122 Larchmont Ave Unit B Louisville, KY	1.0	1.0	700	$750	$1.07	18d	1	1.31mi
2805 S 4th St #1 Louisville, KY	1.0	1.0	750	$725	$0.97	23d	1	1.38mi
1709 Valley Forge Way Unit 2 Louisville, KY	2.0	1.0	750	$895	$1.19	23d	1	1.46mi

HOA detail condo

• Monthly dues: $280 · $3,360/yr
• Likely covers: watersewertrashexterior maint.insurance
• ⚠ Special-assessment mentions:

  …Abundant parking, convenient location near highways, shopping and parks. The monthly fee is $150 plus a $90 special assessment for reserves, repairs and improvements. Seller is an escrowed real estate agent in the State of Kentucky (not listing…

Listing history 30 events

1. 2026-06-21
   days on market $64,000 Active 18 DOM
2. 2026-06-18
   days on market $64,000 Active 15 DOM
3. 2026-06-17
   days on market $64,000 Active 14 DOM
4. 2026-06-16
   days on market $64,000 Active 13 DOM
5. 2026-06-15
   days on market $64,000 Active 12 DOM
6. 2026-06-13
   days on market $64,000 Active 10 DOM
7. 2026-06-10
   days on market $64,000 Active 7 DOM
8. 2026-06-09
   days on market $64,000 Active 6 DOM
9. 2026-06-08
   days on market $64,000 Active 5 DOM
10. 2026-06-07
    pricedays on marketlisting id $64,000 Active 4 DOM
11. 2026-06-03
    days on market $69,000 Active 26 DOM
12. 2026-06-02
    days on market $69,000 Active 25 DOM
13. 2026-06-01
    days on market $69,000 Active 24 DOM
14. 2026-05-31
    days on market $69,000 Active 23 DOM
15. 2026-05-08
    listed $69,000 Active
16. 2024-12-27
    status Active
17. 2024-12-15
    status Pending
18. 2024-12-15
    historical
19. 2024-11-10
    historical Active Under Contract
20. 2024-10-08
    status Active
21. 2024-09-09
    historical Active Under Contract
22. 2024-08-21
    listed $77,500 Active
23. 2023-08-08
    soldstatus $64,500
24. 2023-08-04
    soldstatus $64,500 Closed 794-char remark

    Show marketing remark (794 chars)

    Must see this beautifully renovated condo! All freshly painted, new luxury vinyl plank flooring throughout, all new lighting and ceiling fans and window blinds, beautiful new stainless appliances in the kitchen as well as all new cabinetry, sink and faucet. The bathroom has new lighting, vanity, and toilet. Everything has been professionally done and it sparkles! The monthly maintenance fee includes heat, water, sewer, trash, exterior maintenance and master insurance for the Association. Abundant parking, convenient location near highways, shopping and parks. The monthly fee is $150 plus a $90 special assessment for reserves, repairs and improvements. Seller is an escrowed real estate agent in the State of Kentucky (not listing agent). Easy to show, great for owners or investors.

25. 2023-07-23
    status Pending 794-char remark

    Show marketing remark (794 chars)

    Must see this beautifully renovated condo! All freshly painted, new luxury vinyl plank flooring throughout, all new lighting and ceiling fans and window blinds, beautiful new stainless appliances in the kitchen as well as all new cabinetry, sink and faucet. The bathroom has new lighting, vanity, and toilet. Everything has been professionally done and it sparkles! The monthly maintenance fee includes heat, water, sewer, trash, exterior maintenance and master insurance for the Association. Abundant parking, convenient location near highways, shopping and parks. The monthly fee is $150 plus a $90 special assessment for reserves, repairs and improvements. Seller is an escrowed real estate agent in the State of Kentucky (not listing agent). Easy to show, great for owners or investors.

26. 2023-07-16
    listed $68,900 Active 794-char remark

    Show marketing remark (794 chars)

    Must see this beautifully renovated condo! All freshly painted, new luxury vinyl plank flooring throughout, all new lighting and ceiling fans and window blinds, beautiful new stainless appliances in the kitchen as well as all new cabinetry, sink and faucet. The bathroom has new lighting, vanity, and toilet. Everything has been professionally done and it sparkles! The monthly maintenance fee includes heat, water, sewer, trash, exterior maintenance and master insurance for the Association. Abundant parking, convenient location near highways, shopping and parks. The monthly fee is $150 plus a $90 special assessment for reserves, repairs and improvements. Seller is an escrowed real estate agent in the State of Kentucky (not listing agent). Easy to show, great for owners or investors.

27. 2006-04-11
    historical
28. 2005-10-11
    listed $28,500
29. 2000-09-01
    soldstatus $26,000
30. 2000-06-08
    listed $27,000

ⓘ 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: $813 · $68/mo
• Projected year-2 tax: $813 · $68/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,543
• − Mortgage interest: −$3,585
• − Property taxes: −$813
• − Insurance: −$320
• − Repairs & maintenance: −$843
• − Management: −$843
• − HOA: −$3,360
• − Depreciation: −$1,862
• Taxable loss: −$1,084
• Est. tax savings @ 24.0%: +$260
• After-tax cash flow: $69/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): 45,405
• Household income: $54,931
• Rent vs Own: 45.6% rent · 54.4% own
• Severe rent burden: 2054.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 51% Black 22% Hispanic / Latino 14% Two or more races 12% Asian 7%
• Hispanic origin (detail): Mexican 3% Cuban 6%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 21% · Canada, Vietnam, Philippines
• Languages at home: 74% English-only · Spanish 12% Vietnamese 3% Other Asian/Pacific 2%

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: ▼ -235.43%
• Current HPI: 237.4062
• Rent YoY: ▲ 1.89%
• 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

+155.6% since first listed

16 events — show timeline

• 2026-05-08 Listed $69,000 Metro Search MLS
• 2024-12-27 Relisted — Metro Search MLS
• 2024-12-15 Pending — Metro Search MLS
• 2024-12-15 Listing Removed — Metro Search MLS
• 2024-11-10 Contingent — Metro Search MLS
• 2024-10-08 Relisted — Metro Search MLS
• 2024-09-09 Contingent — Metro Search MLS
• 2024-08-21 Listed $77,500 Metro Search MLS
• 2023-08-08 Sold (Public Records) $64,500 Public Records
• 2023-08-04 Sold (MLS) $64,500 Metro Search MLS
• 2023-07-23 Pending — Metro Search MLS
• 2023-07-16 Listed $68,900 Metro Search MLS
• 2006-04-11 Listing Removed — Metro Search MLS
• 2005-10-11 Listed $28,500 Metro Search MLS
• 2000-09-01 Sold (MLS) $26,000 Metro Search MLS
• 2000-06-08 Listed $27,000 Metro Search MLS

Property tax history

+6.1%/yr

Latest (2025): $813 · -1.9% YoY. Source: county tax records.