5605 Mockernut Ln · Louisville/Jefferson County metro government (balance), KY 40258

$186,000

3 bd · 2.0 ba · 2,342 sqft · SingleFamily · 35 Days on market

Built 1960 0.25 ac lot Est $286k · 35% under

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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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.8/10.0
• 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

Listing remarks MLS

Back On Market! Appraised for $156,000. This lovely 3 bedroom 2 full bath stone ranch with full finished basement has so much to offer. Situated on a nice corner lot, you'll love the privacy fenced back yard and especially the 3 car-wide detached garage! Step onto the front covered porch and enter into your living room with vaulted ceiling, engineered hardwood floors and stone gas log fireplace. All the ceilings throughout this home are sea shell textured. The dining room and kitchen have complimentary laminate flooring with ample oak cabinets and breakfast bar. The appliances remain. Nice size bedrooms and full bath with ceramic tile finish out the upper level. Downstairs you'll find a family area with new carpet, a full "spa-like" bath with stand up shower and huge jetted tub. Two additional rooms to be used to your liking; one has mirrored walls, perfect for workout area. Large laundry room and additional storage area utilize all the additional square footage available in the lower level of this home. Outside you will enjoy the huge deck, fenced back yard and tasteful landscaping. Replacements windows and maintenance free exterior. Move in and enjoy! All this, plus a one-year HSA warranty is provided. Call for appointment today

Key facts

• Full basement
• Corner lot
• 0.25 acre lot

Tags

• CORNER LOT
• FULL BASEMENT
• DETACHED 2 CAR GARAGE

Property features AI

Finance

• Other: Subdivision: GIBSON ACRES
• HOA & community: No association fee

Exterior

• Parking: Detached 2-car garage
• Utilities: Electricity connected; Natural gas available; One HVAC unit for heating and one for cooling
• Home design: Single-family ranch-style home; One story; Slate roof
• Construction: Built in 1960; Stone construction; Poured concrete foundation
• Exterior features: Corner lot; Chain link fencing

Interior

• Kitchen: Kitchen on the first floor; Dining area adjacent to the kitchen
• Bedrooms: Three bedrooms on the first floor; First-floor primary bedroom
• Bathrooms: Two full bathrooms; One full bathroom located in the basement
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished basement; Dining area; Family room; Living room; Additional finished lower-level room
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $186k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $186k).
• Recommended offer: $180k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 C — 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• This rent runs 35% of the median local income ($68k/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 $1k of loan paydown is wiped out by about $6k 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 35 days — a 3% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y 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.
• Current owner paid $150k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,420 (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. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.59%
• DSCR: 1.34
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $285,724
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5605 Tamarack Ln	0.09mi	3/2.0	2,073 (-12%)	7mo	$260,000	$125	71
5513 Tamarack Ln	0.06mi	2/2.0 (-1)	2,055 (-12%)	6mo	$218,000	$106	67
7803 Hepatica Dr	0.55mi	3/3.0	2,408 (+3%)	2mo	$311,000	$129	64
5604 W Pages Ln	0.24mi	4/2.0 (+1)	2,088 (-11%)	4mo	$285,000	$136	62
7905 Bluebonnet Rd	0.34mi	3/2.0	2,065 (-12%)	3mo	$190,000	$92	62
7903 Columbine Dr	0.45mi	3/2.0	2,150 (-8%)	6mo	$250,000	$116	60
5212 W Pages Ln	0.36mi	3/1.0	2,100 (-10%)	5mo	$235,000	$112	58
8008 Columbine Dr	0.37mi	2/1.0 (-1)	2,200 (-6%)	8mo	$269,000	$122	57
8303 Gloxinia Dr	0.69mi	4/2.0 (+1)	2,243 (-4%)	4mo	$298,700	$133	53
8295 Blake Ln	0.40mi	3/1.0	2,044 (-13%)	9mo	$243,000	$119	49
6105 Clovelly Ct	0.69mi	3/1.5	2,088 (-11%)	3mo	$275,000	$132	45
6302 Casper Dr	0.74mi	4/2.0 (+1)	2,050 (-12%)	5mo	$216,500	$106	36

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 · 0.5% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.73×
• Total profit: $-14,055
• Equity at exit: $27,733

10-year hold

• IRR: -1.4%
• Equity multiple: 0.92×
• Total profit: $-4,362
• Equity at exit: $16,082

Cash invested: $52,080 (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: 7.7×

Monthly cashflow live

• Estimated rent: $2,004 high
• Mortgage (P&I): −$975
• Tax from tax record: −$201 /mo · $2,410/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $330

Break-even live

Break-even rent $1,587

Max offer price $186,000

Occupancy floor 79%

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: $46,500
• Closing costs: $5,580
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7820 Hepatica Dr Louisville, KY	3.0	2.5	1763	$2,070	$1.17	15d	1	0.44mi
4916 Oak Park Dr Louisville, KY	4.0	2.5	3206	$2,380	$0.74	24d	1	0.58mi
6100 Goalby Dr Louisville, KY	3.0	2.5	1582	$1,850	$1.17	16d	1	0.62mi
4904 Paramount Dr Louisville, KY	3.0	2.5	2205	$2,145	$0.97	24d	1	0.65mi
9302 Ponder Ln Louisville, KY	2.0	1.0	1678	$1,350	$0.80	15d	1	1.21mi

Listing history 25 events

1. 2026-06-18
   days on market $186,000 Active 35 DOM
2. 2026-06-17
   days on market $186,000 Active 34 DOM
3. 2026-06-16
   days on market $186,000 Active 33 DOM
4. 2026-06-15
   days on market $186,000 Active 32 DOM
5. 2026-06-13
   days on market $186,000 Active 30 DOM
6. 2026-06-10
   days on market $186,000 Active 27 DOM
7. 2026-06-09
   days on market $186,000 Active 26 DOM
8. 2026-06-08
   days on market $186,000 Active 25 DOM
9. 2026-06-07
   days on market $186,000 Active 24 DOM
10. 2026-06-03
    days on market $186,000 Active 20 DOM
11. 2026-06-02
    days on market $186,000 Active 19 DOM
12. 2026-06-01
    days on market $186,000 Active 18 DOM
13. 2026-05-31
    days on market $186,000 Active 17 DOM
14. 2026-05-14
    listed $186,000 Active
15. 2017-07-27
    soldstatus $150,000
16. 2017-07-17
    soldstatus $150,000 Closed 1260-char remark

    Show marketing remark (1260 chars)

    Back On Market! Appraised for $156,000. This lovely 3 bedroom 2 full bath stone ranch with full finished basement has so much to offer. Situated on a nice corner lot, you'll love the privacy fenced back yard and especially the 3 car-wide detached garage! Step onto the front covered porch and enter into your living room with vaulted ceiling, engineered hardwood floors and stone gas log fireplace. All the ceilings throughout this home are sea shell textured. The dining room and kitchen have complimentary laminate flooring with ample oak cabinets and breakfast bar. The appliances remain. Nice size bedrooms and full bath with ceramic tile finish out the upper level. Downstairs you'll find a family area with new carpet, a full "spa-like" bath with stand up shower and huge jetted tub. Two additional rooms to be used to your liking; one has mirrored walls, perfect for workout area. Large laundry room and additional storage area utilize all the additional square footage available in the lower level of this home. Outside you will enjoy the huge deck, fenced back yard and tasteful landscaping. Replacements windows and maintenance free exterior. Move in and enjoy! All this, plus a one-year HSA warranty is provided. Call for appointment today

17. 2017-06-14
    status Pending 1260-char remark

    Show marketing remark (1260 chars)

    Back On Market! Appraised for $156,000. This lovely 3 bedroom 2 full bath stone ranch with full finished basement has so much to offer. Situated on a nice corner lot, you'll love the privacy fenced back yard and especially the 3 car-wide detached garage! Step onto the front covered porch and enter into your living room with vaulted ceiling, engineered hardwood floors and stone gas log fireplace. All the ceilings throughout this home are sea shell textured. The dining room and kitchen have complimentary laminate flooring with ample oak cabinets and breakfast bar. The appliances remain. Nice size bedrooms and full bath with ceramic tile finish out the upper level. Downstairs you'll find a family area with new carpet, a full "spa-like" bath with stand up shower and huge jetted tub. Two additional rooms to be used to your liking; one has mirrored walls, perfect for workout area. Large laundry room and additional storage area utilize all the additional square footage available in the lower level of this home. Outside you will enjoy the huge deck, fenced back yard and tasteful landscaping. Replacements windows and maintenance free exterior. Move in and enjoy! All this, plus a one-year HSA warranty is provided. Call for appointment today

18. 2017-06-10
    listed $156,000 Active 1260-char remark

    Show marketing remark (1260 chars)

    Back On Market! Appraised for $156,000. This lovely 3 bedroom 2 full bath stone ranch with full finished basement has so much to offer. Situated on a nice corner lot, you'll love the privacy fenced back yard and especially the 3 car-wide detached garage! Step onto the front covered porch and enter into your living room with vaulted ceiling, engineered hardwood floors and stone gas log fireplace. All the ceilings throughout this home are sea shell textured. The dining room and kitchen have complimentary laminate flooring with ample oak cabinets and breakfast bar. The appliances remain. Nice size bedrooms and full bath with ceramic tile finish out the upper level. Downstairs you'll find a family area with new carpet, a full "spa-like" bath with stand up shower and huge jetted tub. Two additional rooms to be used to your liking; one has mirrored walls, perfect for workout area. Large laundry room and additional storage area utilize all the additional square footage available in the lower level of this home. Outside you will enjoy the huge deck, fenced back yard and tasteful landscaping. Replacements windows and maintenance free exterior. Move in and enjoy! All this, plus a one-year HSA warranty is provided. Call for appointment today

19. 2017-04-03
    status Pending
20. 2017-04-03
    historical
21. 2017-03-30
    listed $152,900 Active
22. 2002-09-12
    soldstatus $135,000
23. 2002-07-11
    listed $137,000
24. 1998-06-29
    soldstatus $72,000
25. 1998-02-16
    listed $83,900

ⓘ 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: $2,410 · $201/mo
• Projected year-2 tax: $2,410 · $201/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 · 19 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: $24,050
• − Mortgage interest: −$10,419
• − Property taxes: −$2,410
• − Insurance: −$930
• − Repairs & maintenance: −$1,924
• − Management: −$1,924
• − Depreciation: −$5,411
• Taxable income: $1,033
• Est. tax owed @ 24.0%: −$248
• After-tax cash flow: $3,707/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

+121.7% since first listed

12 events — show timeline

• 2026-05-14 Listed $186,000 Metro Search MLS
• 2017-07-27 Sold (Public Records) $150,000 Public Records
• 2017-07-17 Sold (MLS) $150,000 Metro Search MLS
• 2017-06-14 Pending — Metro Search MLS
• 2017-06-10 Listed $156,000 Metro Search MLS
• 2017-04-03 Pending — Metro Search MLS
• 2017-04-03 Listing Removed — Metro Search MLS
• 2017-03-30 Listed $152,900 Metro Search MLS
• 2002-09-12 Sold (MLS) $135,000 Metro Search MLS
• 2002-07-11 Listed $137,000 Metro Search MLS
• 1998-06-29 Sold (MLS) $72,000 Metro Search MLS
• 1998-02-16 Listed $83,900 Metro Search MLS

Property tax history

+4.7%/yr

Latest (2025): $2,410 · -2.1% YoY. Source: county tax records.