1523 W Oak St · Louisville, KY 40210

$50,000

2 bd · 1.0 ba · 1,360 sqft · SingleFamily · 51 Days on market

Built 1900 2,701 sqft lot

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Great opportunity for investors. 3 separately deeded parcels (one with home) will be sold as a package. 1521 & 1525 W. Oak St. are 2 buildable lots that are each 25' X 108'. 1523 W. Oak is also on a 25' X 108' lot that has a 1360 Sq. Ft. Camelback style home that needs some renovations. The first floor offers sizable living and dining rooms plus a family room, a large kitchen and a full bath with tub/shower. There are 2 bedrooms on the 2nd floor and one of the rooms on the 1st floor has been used as a 3rd bedroom. There are two closets in middle room on 1st Floor that could be 3rd bedroom. Rear porch off kitchen and a 10' X 10' storage shed in rear yard. Potential multi-family develop

Key facts

• Buildable lots
• Large kitchen
• Camelback style home

Tags

• SEPARATELY DEEDED PARCELS
• BUILDABLE LOTS
• CAMELBACK STYLE HOME
• LARGE KITCHEN
• FULL BATH WITH TUB SHOWER
• REAR PORCH OFF KITCHEN

Property features AI

Finance

• Other: Subdivision: Spalding
• HOA & community: No association fee

Exterior

• Utilities: Electricity connected; Natural gas available
• Home design: Single-family residence (Camelback architectural style); Two stories
• Construction: Built in 1900; Wood frame with aluminum siding; Shingle roof; Poured concrete foundation
• Exterior features: Wood fencing enclosing the yard; Sidewalk on the lot; Lot is cleared and level

Interior

• Kitchen: Kitchen on the first floor; Dining room on the first floor
• Bedrooms: Two bedrooms located on the second floor; Primary bedroom (first-floor primary bedroom present)
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heating present
• Interior features: Five total rooms; One fireplace on the first floor; Four closets; Basement: none
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $583 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.3% 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 rising fast (+8.1%/yr); 92 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 ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($346 loan paydown + $5k 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 + 8.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1900 — 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. 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: 2.35% ✓
• Cap rate: 20.28%
• Cash-on-cash: 49.94%
• DSCR: 3.22
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $129,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1601 Wilson Ave	0.24mi	3/1.5 (+1)	1,332 (-2%)	10mo	$125,697	$94	70
1815 Osage Ave	0.44mi	2/1.0	1,326 (-2%)	11mo	$59,999	$45	66
1705 1/2 Hale Ave	0.27mi	3/2.0 (+1)	1,257 (-8%)	4mo	$58,000	$46	63
1605 Wilson Ave	0.24mi	3/2.0 (+1)	1,305 (-4%)	16mo	$125,000	$96	60
1767 Wilson Ave	0.39mi	3/2.0 (+1)	1,340 (-2%)	14mo	$160,000	$119	59
1732 Saint Louis Ave	0.51mi	3/2.0 (+1)	1,376 (+1%)	13mo	$127,900	$93	55
1812 Wilson Ave	0.53mi	3/1.5 (+1)	1,248 (-8%)	1mo	$135,000	$108	54
1715 W Kentucky St	0.40mi	3/1.5 (+1)	1,254 (-8%)	18mo	$156,500	$125	46
1708 Bolling Ave	0.65mi	2/1.0	1,232 (-9%)	11mo	$57,000	$46	45
2225 W Oak St	0.66mi	3/1.0 (+1)	1,400 (+3%)	19mo	$80,000	$57	44
2210 Wilson Ave	0.71mi	3/2.0 (+1)	1,316 (-3%)	16mo	$125,000	$95	39
1830 W Kentucky St	0.51mi	3/2.0 (+1)	1,487 (+9%)	19mo	$145,000	$98	36

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 67.4%
• Equity multiple: 6.04×
• Total profit: $70,570
• Equity at exit: $45,044

10-year hold

• IRR: 63.0%
• Equity multiple: 14.86×
• Total profit: $194,050
• Equity at exit: $97,139

Cash invested: $14,000 (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 40210

• Home prices YoY: 12.1%
• Rents YoY: 8.1%
• Active inventory: 92
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,175 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $583

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 45%

Sensitivity live

Price	-10% $617	-5% $600	+0% $583	+5% $565	+10% $548
Rent	-10% $490	-5% $536	+0% $583	+5% $629	+10% $676
Rate	-1.0pp $608	-0.5pp $595	base $583	+0.5pp $570	+1.0pp $557

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	24d	1	0.18mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	24d	1	0.29mi
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	11d	1	0.29mi
1644 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	900	$950	$1.06	24d	1	0.36mi
1723 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	1200	$1,300	$1.08	24d	1	0.42mi
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	4d	1	0.58mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	17d	1	0.61mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	24d	1	0.72mi
1774 Bolling Ave Louisville, KY	3.0	2.0	1611	$1,300	$0.81	11d	1	0.75mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	24d	1	0.77mi
2223 Saint Louis Ave Louisville, KY	3.0	1.5	1152	$1,175	$1.02	24d	1	0.79mi
1200 S 6th St Apt 4 Louisville, KY	3.0	1.0	900	$1,125	$1.25	24d	1	0.82mi
21 College Ct Louisville, KY	1.0	1.0	900	$880	$0.98	11d	1	0.83mi
607 Saint Catherine St Unit 2 Louisville, KY	1.0	1.0	1100	$1,025	$0.93	24d	1	0.84mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	24d	1	0.85mi
1842 Bolling Ave Louisville, KY	1.0	1.0	900	$895	$0.99	15d	1	0.88mi
1700 Magazine St Unit 3 Louisville, KY	2.0	1.0	900	$1,150	$1.28	18d	1	0.89mi
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	24d	1	0.89mi
1410 Standard Village Cir Louisville, KY	3.0	2.0	1200	$900	$0.75	24d	1	0.90mi
508 W Oak St Unit 2 Louisville, KY	2.0	1.0	1000	$1,195	$1.20	24d	1	0.91mi
1810 Magazine St Louisville, KY	3.0	1.5	1248	$1,450	$1.16	11d	1	0.92mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	24d	1	0.93mi
517 Saint Catherine St #2 Louisville, KY	3.0	1.0	1237	$1,200	$0.97	24d	1	0.94mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	24d	1	0.98mi
1501 Bellamy Pl Louisville, KY	2.0–4.0	2.0–4.0	1074	$1,758	$1.64	4d	1	1.04mi
2310 W Broadway Unit 1 Louisville, KY	1.0	1.0	1100	$975	$0.89	4d	1	1.04mi
1245 S 4th St Louisville, KY	1.0–2.0	1.0	900	$1,100	$1.22	4d	5	1.05mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	24d	1	1.06mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	24d	1	1.06mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	24d	1	1.10mi
1300 S 3rd St #3 Louisville, KY	2.0	1.0	1580	$1,325	$0.84	24d	1	1.11mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	21d	1	1.11mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	24d	1	1.11mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	24d	1	1.12mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	24d	1	1.13mi
747 S 5th St Unit 12 Louisville, KY	1.0	2.0	1005	$1,300	$1.29	24d	1	1.15mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	21d	1	1.16mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	24d	1	1.17mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	17d	1	1.17mi
414 W Hill St Louisville, KY	3.0	1.5	1150	$1,500	$1.30	24d	1	1.18mi

Listing history 17 events

1. 2026-06-21
   days on market $50,000 Active 51 DOM
2. 2026-06-18
   days on market $50,000 Active 48 DOM
3. 2026-06-17
   days on market $50,000 Active 47 DOM
4. 2026-06-16
   days on market $50,000 Active 46 DOM
5. 2026-06-15
   days on market $50,000 Active 45 DOM
6. 2026-06-13
   days on market $50,000 Active 43 DOM
7. 2026-06-10
   days on market $50,000 Active 40 DOM
8. 2026-06-09
   days on market $50,000 Active 39 DOM
9. 2026-06-08
   days on market $50,000 Active 38 DOM
10. 2026-06-07
    days on market $50,000 Active 37 DOM
11. 2026-06-03
    days on market $50,000 Active 33 DOM
12. 2026-06-02
    days on market $50,000 Active 32 DOM
13. 2026-06-01
    days on market $50,000 Active 31 DOM
14. 2026-05-31
    days on market $50,000 Active 30 DOM
15. 2026-05-18
    price $50,000
16. 2026-05-01
    listed $60,000 Active
17. 2026-04-21
    price $50,000

ⓘ 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 6/10 Major FEMA zone X (shaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 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

Taxation est. · year 1

• Rental income: $14,100
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$1,455
• Taxable income: $6,588
• Est. tax owed @ 24.0%: −$1,581
• After-tax cash flow: $5,411/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): 13,518
• Household income: $35,347
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 815.0

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 Black (84%)
• Race & ethnicity: Black 84% White 8% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3%

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: ▲ 28.45%
• Current HPI: 264.0146
• Rent YoY: ▲ 8.05%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-18 Price Changed $50,000 Metro Search MLS
• 2026-05-01 Listed $60,000 Metro Search MLS
• 2026-04-21 Price Changed $50,000 Metro Search MLS