6506 Hackel Dr · Louisville/Jefferson County metro government (balance), KY 40258

$415,900

12 bd · 6.0 ba · 3,430 sqft · MultiFamily · 35 Days on market

Built 1975 8,799 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

INVESTMENT OPPORTUNITY: Over the last two years this building has been transformed and is now a stable performing asset and is positioned to bring the property to its full market rent potential. OFFERING HIGHLIGHTS INCLUDE: 4 of the 6 - 2 bed, 1 bath, 850 sqft units have been updated within the last two years. All leases are month to month. The roof, windows, 2 water heaters, 1 furnace and electrical panels in all 6 units have been replaced within the last 5 years. In the last two years 2 more new water heaters have been added. The remaining mechanicals have been repaired/serviced and are in good working condition. In 2021 a building with 2 6x10 storage units was added for additional income.

Key facts

• Open concept layouts
• Washer dryer hookups
• Storage units

Tags

• EXTENSIVE IMPROVEMENTS
• WASHER DRYER HOOKUPS
• DISHWASHERS
• OPEN CONCEPT LAYOUTS
• STORAGE UNITS
• MINIMAL DEFERRED MAINTENANCE

Property features AI

Finance

• Other: Subdivision: HUNTERS HILL
• Financial info: Income/rent fields present for each level (rent values reported per level)
• HOA & community: No association fee

Exterior

• Parking: 10 parking spaces; No covered parking
• Utilities: Electricity connected; 6 furnaces; 6 HVAC units; Owner pays water and sewer; Owner pays trash removal; Tenants pay electric
• Home design: Apartment; Built in 1975
• Construction: Brick construction; Shingle roof; Living area reported as 3,430
• Exterior features: No exterior features listed; Lot features: See remarks

Interior

• Kitchen: Kitchens in each unit; Ranges in units; Refrigerators in units; Dishwashers in units
• Bedrooms: 12 total bedrooms (distributed across units)
• Bathrooms: Multiple full bathrooms across units (no partial bathrooms listed)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Apartment property type; Multiple units with separate meters; Additional storage available
• Laundry & utility: Laundry in each unit

What this means for you Summary

Snapshot

• This is a 6 × 2.0-bed/1.0-bath units multifamily listed at $416k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $400/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $416k).
• Recommended offer: $403k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 4.0% in Louisville/Jefferson County metro government (balance) — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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; 122 active listings in the ZIP; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• At $6,527/mo this rent would consume 115% of the median local household income ($68k/yr) (locally 839% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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.
• At projected returns (-3.0% appreciation + 0.5% rent growth), your $116k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($403k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y ago; this cycle's ask has dropped $196k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $403,423 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.57% ✓
• Cap rate: 13.23%
• Cash-on-cash: 24.76%
• DSCR: 2.10
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.5% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 1.60×
• Total profit: $69,639
• Equity at exit: $62,012

10-year hold

• IRR: 22.2%
• Equity multiple: 2.68×
• Total profit: $195,265
• Equity at exit: $35,959

Cash invested: $116,452 (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 40258

• Rents YoY: 0.5%
• Active inventory: 122
• Price-to-rent: 31.9×

Monthly cashflow live

• Estimated rent: $6,527 medium
• Mortgage (P&I): −$2,181
• Tax from tax record: −$399 /mo · $4,792/yr
• Insurance: −$173
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,371
• Net cashflow: $2,403

Break-even live

Break-even rent $3,486

Max offer price $415,900

Occupancy floor 58%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	2.0	1	$6,528
Total (6 units)			$6,527

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: $103,975
• Closing costs: $12,477
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-18
   days on market $415,900 Active 35 DOM
2. 2026-06-17
   price $415,900 Active 34 DOM
3. 2026-06-17
   days on market $611,900 Active 34 DOM
4. 2026-06-16
   days on market $611,900 Active 33 DOM
5. 2026-06-15
   days on market $611,900 Active 32 DOM
6. 2026-06-13
   days on market $611,900 Active 30 DOM
7. 2026-06-10
   days on market $611,900 Active 27 DOM
8. 2026-06-09
   days on market $611,900 Active 26 DOM
9. 2026-06-08
   days on market $611,900 Active 25 DOM
10. 2026-06-07
    days on market $611,900 Active 24 DOM
11. 2026-06-03
    days on market $611,900 Active 20 DOM
12. 2026-06-02
    days on market $611,900 Active 19 DOM
13. 2026-06-01
    days on market $611,900 Active 18 DOM
14. 2026-05-31
    days on market $611,900 Active 17 DOM
15. 2026-05-14
    listed $611,900 Active
16. 2022-12-01
    soldstatus $480,000
17. 2022-11-22
    soldstatus $480,000 Closed 708-char remark

    Show marketing remark (708 chars)

    INVESTMENT OPPORTUNITY: Over the last two years this building has been transformed and is now a stable performing asset and is positioned to bring the property to its full market rent potential. OFFERING HIGHLIGHTS INCLUDE: 4 of the 6 - 2 bed, 1 bath, 850 sqft units have been updated within the last two years. All leases are month to month. The roof, windows, 2 water heaters, 1 furnace and electrical panels in all 6 units have been replaced within the last 5 years. In the last two years 2 more new water heaters have been added. The remaining mechanicals have been repaired/serviced and are in good working condition. In 2021 a building with 2 6x10 storage units was added for additional income.

18. 2022-08-16
    status Pending 708-char remark

    Show marketing remark (708 chars)

    INVESTMENT OPPORTUNITY: Over the last two years this building has been transformed and is now a stable performing asset and is positioned to bring the property to its full market rent potential. OFFERING HIGHLIGHTS INCLUDE: 4 of the 6 - 2 bed, 1 bath, 850 sqft units have been updated within the last two years. All leases are month to month. The roof, windows, 2 water heaters, 1 furnace and electrical panels in all 6 units have been replaced within the last 5 years. In the last two years 2 more new water heaters have been added. The remaining mechanicals have been repaired/serviced and are in good working condition. In 2021 a building with 2 6x10 storage units was added for additional income.

19. 2022-07-18
    listed $480,000 Active 708-char remark

    Show marketing remark (708 chars)

    INVESTMENT OPPORTUNITY: Over the last two years this building has been transformed and is now a stable performing asset and is positioned to bring the property to its full market rent potential. OFFERING HIGHLIGHTS INCLUDE: 4 of the 6 - 2 bed, 1 bath, 850 sqft units have been updated within the last two years. All leases are month to month. The roof, windows, 2 water heaters, 1 furnace and electrical panels in all 6 units have been replaced within the last 5 years. In the last two years 2 more new water heaters have been added. The remaining mechanicals have been repaired/serviced and are in good working condition. In 2021 a building with 2 6x10 storage units was added for additional income.

20. 2020-11-09
    soldstatus $320,000
21. 2019-02-01
    soldstatus $390,000
22. 2015-01-27
    historical
23. 2014-11-03
    listed $139,900
24. 2014-03-31
    soldstatus $501,000
25. 2008-11-13
    soldstatus $157,000
26. 2007-09-27
    soldstatus $145,225
27. 2004-03-16
    soldstatus $157,000
28. 2004-03-09
    soldstatus $157,000
29. 2003-12-15
    listed $161,000
30. 2003-12-12
    historical
31. 2003-10-29
    listed $169,000
32. 2002-05-17
    soldstatus $159,900
33. 2002-03-02
    listed $159,900
34. 2002-02-10
    historical
35. 2001-08-10
    listed $159,900

ⓘ 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: $4,792 · $399/mo
• Projected year-2 tax: $4,792 · $399/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 (shaded) · 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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $78,324
• − Mortgage interest: −$23,297
• − Property taxes: −$4,792
• − Insurance: −$2,080
• − Repairs & maintenance: −$6,266
• − Management: −$6,266
• − Depreciation: −$12,099
• Taxable income: $23,525
• Est. tax owed @ 24.0%: −$5,646
• After-tax cash flow: $23,186/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/Jefferson County metro government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Louisville/Jefferson County metro government (balance), KY
• County: Jefferson County · 790,184 people
• City population: 419,741
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 26,841
• Household income: $68,162
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 839.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 22% Two or more races 8% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3% Cuban 1%
• Common ancestry: Iranian 2% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -296.36%
• Current HPI: 244.6667
• Rent YoY: ▲ 0.50%
• 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

+282.7% since first listed

21 events — show timeline

• 2026-05-14 Listed $611,900 Metro Search MLS
• 2022-12-01 Sold (Public Records) $480,000 Public Records
• 2022-11-22 Sold (MLS) $480,000 Metro Search MLS
• 2022-08-16 Pending — Metro Search MLS
• 2022-07-18 Listed $480,000 Metro Search MLS
• 2020-11-09 Sold (Public Records) $320,000 Public Records
• 2019-02-01 Sold (Public Records) $390,000 Public Records
• 2015-01-27 Listing Removed — Metro Search MLS
• 2014-11-03 Listed $139,900 Metro Search MLS
• 2014-03-31 Sold (Public Records) $501,000 Public Records
• 2008-11-13 Sold (Public Records) $157,000 Public Records
• 2007-09-27 Sold (Public Records) $145,225 Public Records
• 2004-03-16 Sold (Public Records) $157,000 Public Records
• 2004-03-09 Sold (MLS) $157,000 Metro Search MLS
• 2003-12-15 Listed $161,000 Metro Search MLS
• 2003-12-12 Listing Removed — Metro Search MLS
• 2003-10-29 Listed $169,000 Metro Search MLS
• 2002-05-17 Sold (MLS) $159,900 Metro Search MLS
• 2002-03-02 Listed $159,900 Metro Search MLS
• 2002-02-10 Listing Removed — Metro Search MLS
• 2001-08-10 Listed $159,900 Metro Search MLS

Property tax history

+16.7%/yr

Latest (2025): $4,792 · -2.1% YoY. Source: county tax records.