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128 E Oak St #2
D- Composite 36.92
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).

  • ARV discount +11.5/15.0
  • Cash flow +7.2/30.0
  • Condition / age +4.0/5.0
  • 1% rule +3.8/10.0
  • Rent growth +3.4/5.0
  • Livability +3.2/5.0
  • Schools +2.5/10.0
  • DSCR +1.3/10.0
  • Appreciation +0.0/10.0

$99,000

128 E Oak St #2 · Louisville, KY 40203
1 bd · 1.0 ba · 540 sqft · Condo · 6 Days on market
Built 1900 Good condition $183/sqft · 9% below area Est $109k · 9% under $146/mo HOA · 17% of rent ↓ 13% since listing
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Discover effortless living at Victoria Place with this renovated, move-in-ready condominium. Nestled in the heart of historic Old Louisville, this 1-bedroom, 1-bath residence offers a refreshed kitchen with modern cabinetry, updated appliances, and a functional layout. Contemporary finishes and the convenience of in-unit laundry with a brand-new washer and dryer. Enjoy the benefits of low-maintenance condo living with affordable monthly maintenance fees that include water, sewer, and trash. Off-street parking provides an added convenience.

Key facts

  • Updated appliances
  • Modern cabinetry
  • In-unit laundry

Tags

RENOVATED CONDOMINIUMREFRESHED KITCHENMODERN CABINETRYUPDATED APPLIANCESIN-UNIT LAUNDRYBRAND-NEW WASHER

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 1-bed/1.0-bath condo listed at $99k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
  • To cash-flow at today's rent, offer at most $79k (20.2% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (11.6% below list).
  • Recommended offer: $79k (20.2% below list) — sets the bar for cash-flow.

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: Engelhard Elementary (math 8% / reading 12%, grade F, #648 of 676 statewide, top 98%, 276 students, 76% FRL); Meyzeek Middle (math 50% / reading 61%, grade B-, #7 of 217 statewide, top 3%, 930 students, 42% FRL); Iroquois High (math 12% / reading 8%, grade F, #245 of 254 statewide, top 97%, 1,090 students, 74% FRL).
  • Market conditions: Rents rising (+3.7%/yr); 209 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 103d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
  • This rent runs 34% of the median local income ($31k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

  • Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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

  • Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
  • 2 sale attempts 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

  • Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
  • 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 $78,963 (20.2% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  4. 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?
  5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  6. 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?
  7. 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?
  8. 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?
  9. 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.
  10. 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.
  11. 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
0.88% ✗
Cap rate
4.61%
Cash-on-cash
-5.99%
DSCR
0.73
GRM
9.4

CMA / ARV

ARV (median comp)
$108,676
List price
$99,000
Delta
-8.90%
Verdict
FAIR
Comps
7 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
1131 S Brook St Apt 3 0.09mi 1/1.0 562 (+4%) 8mo $92,000 $164 82
112 E Oak St Apt 2 0.04mi 1/1.0 537 (-1%) 23mo $104,500 $195 78
1337 S 1st St Unit 3R 0.29mi 1/1.0 552 (+2%) 14mo $110,000 $199 71
1337 S 1st St Apt 2R 0.29mi 1/1.0 597 (+11%) 17mo $100,000 $168 54
1341 S 1st St Unit 1R 0.29mi 1/1.0 662 (+23%) 15mo $109,900 $166 49
409 Hancock Green Pl #101 1.29mi 1/1.0 600 (+11%) 4mo $155,000 $258 43
2119 Bradley Ave 1.25mi 1/1.0 658 (+22%) 0mo $120,000 $182 40
532 S 4th St #401 1.12mi 1/1.0 578 (+7%) 24mo $195,000 $337 33
809 S Shelby St 0.89mi 1/1.0 675 (+25%) 14mo $105,000 $156 28
942 Brent St 1.30mi 2/1.0 (+1) 644 (+19%) 11mo $143,000 $222 26
726 Shelby Pkwy 0.65mi 2/1.0 (+1) 667 (+24%) 26mo $180,000 $270 20
818 Forrest St 1.04mi 2/1.0 (+1) 672 (+24%) 21mo $193,000 $287 17

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.73% rent growth · sell at horizon

5-year hold
IRR
-25.4%
Equity multiple
0.13×
Total profit
$-24,111
Equity at exit
$14,761
10-year hold
IRR
-18.8%
Equity multiple
-0.05×
Total profit
$-29,236
Equity at exit
$8,560

Cash invested: $27,720 (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 40203

Home prices YoY
-13.8%
Rents YoY
3.7%
Active inventory
209
Price-to-rent
9.4×

Monthly cashflow live

Estimated rent
$876 high interval (Pro) →
Mortgage (P&I)
−$519
Tax est. 1.5%
−$124 /mo · $1,485/yr
Insurance
−$41
HOA
−$146
Vacancy / Maint / Mgmt
−$184
Net cashflow
$-138

Break-even live

Break-even rent $1,051
Max offer price $78,963
Occupancy floor —

Sensitivity live

Price -10% $-70 -5% $-104 +0% $-138 +5% $-173 +10% $-207
Rent -10% $-208 -5% $-173 +0% $-138 +5% $-104 +10% $-69
Rate -1.0pp $-89 -0.5pp $-113 base $-138 +0.5pp $-164 +1.0pp $-190

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
$24,750
Closing costs
$2,970
Reserves months
—
Total cash needed
—

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
—
Monthly P&I
—
Monthly cashflow
—
DSCR
—
Eligible?
—

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
120 E Oak St Unit B Louisville, KY 1.0 1.0 750 $1,395 $1.86 107d 1 0.02mi
1228 S Brook St Unit 2 Louisville, KY 1.0 1.0 700 $799 $1.14 117d 1 0.06mi
224 E Oak St Apt 3 Louisville, KY 1.0 1.0 650 $850 $1.31 38d 1 0.08mi
224 E Oak St Apt 4 Louisville, KY 1.0 1.0 600 $850 $1.42 11d 1 0.08mi
224 E Oak St Apt 4 Louisville, KY 1.0 1.0 600 $850 $1.42 10d 1 0.08mi
224 E Oak St Unit 5 Louisville, KY 1.0 1.0 650 $800 $1.23 55d 1 0.08mi
1153 S 1st St Unit 3 Louisville, KY 1.0 1.0 600 $795 $1.32 108d 1 0.09mi
1245 S 1st St Unit 4 Louisville, KY 1.0 1.0 650 $795 $1.22 112d 1 0.11mi
1234 S 1st St Unit 4 Louisville, KY 1.0 1.0 750 $1,550 $2.07 103d 1 0.11mi
1115 S 1st St Unit 1115-B Louisville, KY 1.0 1.0 550 $800 $1.45 11d 1 0.16mi
1115 S 1st St Unit 1115-B Louisville, KY 1.0 1.0 550 $800 $1.45 10d 1 0.16mi
118 W Ormsby Ave Unit A3 Louisville, KY 1.0 1.0 650 $795 $1.22 138d 1 0.19mi
1242 S 2nd St Unit 3 Louisville, KY — 1.0 500 $800 $1.60 144d 1 0.20mi
1318 S Brook St Unit 2 Louisville, KY 1.0 1.0 700 $995 $1.42 120d 1 0.22mi
1206 S Preston St Unit 3 Louisville, KY — 1.0 450 $650 $1.44 144d 1 0.23mi
1321 S 1st St Apt 3 Louisville, KY 1.0 1.0 570 $825 $1.45 10d 1 0.24mi
1221 S 3rd St Unit 5 Louisville, KY — 1.0 375 $625 $1.67 55d 1 0.24mi
1221 S 3rd St Unit 5 Louisville, KY — 1.0 375 $595 $1.59 7d 1 0.24mi
1221 S 3rd St Unit 10 Louisville, KY 1.0 1.0 375 $625 $1.67 103d 1 0.24mi
1221 S 3rd St Unit 8 Louisville, KY — 1.0 375 $575 $1.53 7d 1 0.24mi
1319 S 2nd St Unit 3 Louisville, KY 1.0 1.0 600 $895 $1.49 164d 1 0.24mi
208 W Ormsby Ave Unit 7 Louisville, KY 1.0 1.0 700 $850 $1.21 138d 1 0.25mi
208 W Ormsby Ave Unit 8 Louisville, KY — 1.0 700 $850 $1.21 10d 1 0.25mi
208 W Ormsby Ave Unit 4 Louisville, KY 1.0 1.0 700 $850 $1.21 164d 1 0.25mi
318 E Saint Catherine St Louisville, KY 1.0–2.0 1.0 750 $995 $1.33 10d 2 0.26mi
1001 S 1st St Unit 3 Louisville, KY 1.0 1.0 550 $725 $1.32 164d 1 0.29mi
1279 S Preston St Unit 1A Louisville, KY 1.0 1.0 600 $1,200 $2.00 164d 1 0.30mi
1279 S Preston St Unit 1C Louisville, KY 1.0 1.0 650 $1,200 $1.85 126d 1 0.31mi
1361 S Brook St #2 Louisville, KY 2.0 1.0 517 $850 $1.64 164d 1 0.33mi
305 Woodbine St Apt 1 Louisville, KY 1.0 1.0 750 $825 $1.10 10d 1 0.33mi
1215 S 4th St Apt 2 Louisville, KY — 1.0 600 $675 $1.12 5d 1 0.33mi
307 Woodbine St Unit 3 Louisville, KY 1.0 1.0 700 $775 $1.11 164d 1 0.33mi
307 Woodbine St Unit 4 Louisville, KY 1.0 1.0 700 $750 $1.07 155d 1 0.33mi
1231 S 4th St Unit 1 Louisville, KY 1.0 1.0 650 $925 $1.42 162d 1 0.34mi
1231 S 4th St Unit 1 Louisville, KY 1.0 1.0 650 $925 $1.42 164d 1 0.34mi
1382 S 1st St Unit 1382-1 Louisville, KY 1.0 1.0 530 $825 $1.56 7d 1 0.35mi
1345 S 3rd St Unit 5 Louisville, KY 1.0 1.0 570 $700 $1.23 37d 1 0.35mi
956 S Floyd St Unit 4 Louisville, KY 1.0 1.0 500 $900 $1.80 6d 1 0.35mi
956 S Floyd St Unit 4 Louisville, KY 1.0 1.0 500 $900 $1.80 38d 1 0.35mi
956 S Floyd St Unit 1 Louisville, KY 1.0 1.0 500 $925 $1.85 10d 1 0.35mi

Property features AI

Finance

HOA & community
Pets allowed subject to restrictionsRentals allowedStorageMaintenance includes groundskeeping, master insurance, sewer, and trash

Exterior

Parking
Surface parking
Utilities
Electricity connected
Home design
CondominiumOne story
Construction
Built in 1900Wood-frame and brick constructionShingle roof
Exterior features
Level lot with sidewalks

Interior

Kitchen
Kitchen on the first floor
Bedrooms
1 bedroom on the second floor
Bathrooms
1 full bathroom on the second floor
Heating & cooling
Forced-air natural gas heatingCentral air conditioning
Interior features
Cellar
Laundry & utility
In-unit laundry

HOA detail $146/mo · $1,752/yr condo

Likely covers
watersewertrash
Assessments
None detected in remarks — confirm with the listing agent.

Listing history 50 events

  1. 2026-11-08
    days on market $99,000 Active 6 DOM
  2. 2026-11-07
    days on market $99,000 Active 5 DOM
  3. 2026-11-06
    days on market $99,000 Active 4 DOM
  4. 2026-11-05
    days on market $99,000 Active 3 DOM
  5. 2026-11-04
    remarks 699-char remark
  6. 2026-11-04
    pricedays on marketlisting id $99,000 Active 2 DOM
  7. 2026-10-31
    days on market $100,000 Active 176 DOM
  8. 2026-10-30
    days on market $100,000 Active 175 DOM
  9. 2026-10-29
    days on market $100,000 Active 174 DOM
  10. 2026-10-28
    days on market $100,000 Active 173 DOM
  11. 2026-10-27
    days on market $100,000 Active 172 DOM
  12. 2026-10-26
    days on market $100,000 Active 171 DOM
  13. 2026-10-26
    days on market $100,000 Active 170 DOM
  14. 2026-10-24
    days on market $100,000 Active 169 DOM
  15. 2026-10-23
    days on market $100,000 Active 168 DOM
  16. 2026-10-22
    days on market $100,000 Active 167 DOM
  17. 2026-10-21
    days on market $100,000 Active 166 DOM
  18. 2026-10-20
    days on market $100,000 Active 165 DOM
  19. 2026-10-19
    days on market $100,000 Active 164 DOM
  20. 2026-10-18
    days on market $100,000 Active 163 DOM
  21. 2026-10-17
    days on market $100,000 Active 162 DOM
  22. 2026-10-16
    days on market $100,000 Active 161 DOM
  23. 2026-10-15
    pricedays on market $100,000 Active 160 DOM
  24. 2026-10-14
    days on market $105,000 Active 159 DOM
  25. 2026-10-13
    days on market $105,000 Active 158 DOM
  26. 2026-10-12
    days on market $105,000 Active 157 DOM
  27. 2026-10-11
    days on market $105,000 Active 156 DOM
  28. 2026-10-10
    days on market $105,000 Active 155 DOM
  29. 2026-10-09
    days on market $105,000 Active 154 DOM
  30. 2026-10-08
    days on market $105,000 Active 153 DOM
  31. 2026-10-07
    days on market $105,000 Active 152 DOM
  32. 2026-10-07
    days on market $105,000 Active 151 DOM
  33. 2026-10-05
    days on market $105,000 Active 150 DOM
  34. 2026-10-04
    days on market $105,000 Active 149 DOM
  35. 2026-10-03
    days on market $105,000 Active 148 DOM
  36. 2026-10-02
    days on market $105,000 Active 147 DOM
  37. 2026-10-02
    price $105,000 Active 146 DOM
  38. 2026-10-01
    days on market $109,000 Active 146 DOM
  39. 2026-09-30
    days on market $109,000 Active 145 DOM
  40. 2026-09-29
    days on market $109,000 Active 144 DOM
  41. 2026-09-28
    days on market $109,000 Active 143 DOM
  42. 2026-09-27
    days on market $109,000 Active 142 DOM
  43. 2026-09-25
    days on market $109,000 Active 140 DOM
  44. 2026-09-24
    days on market $109,000 Active 139 DOM
  45. 2026-09-23
    days on market $109,000 Active 138 DOM
  46. 2026-09-22
    days on market $109,000 Active 137 DOM
  47. 2026-09-21
    days on market $109,000 Active 136 DOM
  48. 2026-09-20
    days on market $109,000 Active 135 DOM
  49. 2026-09-19
    days on market $109,000 Active 134 DOM
  50. 2026-09-18
    days on market $109,000 Active 133 DOM

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

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 ≥104°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 · 3 by 30 yrs out

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$10,507
− Mortgage interest
−$5,546
− Property taxes
−$1,485
− Insurance
−$495
− Repairs & maintenance
−$841
− Management
−$841
− HOA
−$1,752
− Depreciation
−$2,880
Taxable loss
−$3,332
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$800
After-tax cash flow
$-862/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This renovated and move-in ready condo at Victoria Place offers a blend of historic charm and modern convenience in Old Louisville.

Value-add opportunities

  • Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
  • Both Replacing carpet with hardwood flooring — Improves durability and adds value ↑
  • Both Upgrading kitchen appliances — Modernizes the space and adds value ↑
F Composite school gradezoned avg 25/100

Zoned Schools

Elementary Engelhard Elementary F KY #648/676 Nat'l #39,071/41,679 Middle Meyzeek Middle B- KY #7/217 Nat'l #2,418/14,009 High Iroquois High F KY #245/254 Nat'l #16,463/17,239

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
C Composite livability gradescore 63/100

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 · 823,112 people
City population
769,292
Metro
Louisville/Jefferson County, KY-IN
Population (ZIP)
17,742
Household income
$30,794
Rent vs Own
75.1% rent · 24.9% own
Severe rent burden
10% of renters

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 0.56)
Race & ethnicity
Black 49% White 44% Two or more races 4% Hispanic / Latino 3%
Languages at home
97% English-only · Spanish 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
—

Price history

-13.2% since first listed
8 events — show timeline
  • 2026-11-02 Listed $99,000 Metro Search MLS
  • 2026-10-31 Listing Removed — Metro Search MLS
  • 2026-10-14 Price Changed $100,000 Metro Search MLS
  • 2026-10-01 Price Changed $105,000 Metro Search MLS
  • 2026-09-16 Price Changed $109,000 Metro Search MLS
  • 2026-08-03 Price Changed $110,000 Metro Search MLS
  • 2026-07-07 Price Changed $112,000 Metro Search MLS
  • 2026-05-08 Listed $114,000 Metro Search MLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…