736 Dearborn Ave · Louisville, KY 40211

$112,500

4 bd · 2.0 ba · 2,034 sqft · MultiFamily · 28 Days on market

Built 1910 4,499 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 +3.7/5.0
• Livability +3.2/5.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great opportunity to purchase this cash flowing duplex! Current rents total $1610 gross! Large 2 story home! Hardwood floors! Newer windows in the 2nd floor unit! The 2nd floor unit is 3 bedrooms and 1 full bath and currently rented for $910 per month. The 1st floor unit is a 1 bedroom and 1 full bath unit is rented $700. Covered porch! Partially fenced yard! Call today for a private showing before this property is SOLD!

Key facts

• Covered porch
• Newer windows
• 4,499 sq ft lot

Tags

• NEWER WINDOWS
• COVERED PORCH
• PARTIALLY FENCED YARD

Property features AI

Finance

• Other: Lot approximately 0.1 acre (about 4,499 sq ft); Total building area reported as 2,034
• Financial info: Property set up as income-producing duplex with separate units and published rents (First level rent $700, Second level rent $910)
• HOA & community: No association fee

Exterior

• Parking: No covered parking
• Utilities: Electricity connected; Natural gas; Two furnaces; Owner pays water and sewer; Owner pays trash removal; Tenants pay cable, electric, and gas
• Home design: Duplex; Built in 1910; Shingle roof; Vinyl siding
• Construction: 1910 construction; Vinyl siding; Shingle roof
• Exterior features: No notable exterior features listed

Interior

• Kitchen: First level kitchen with range and refrigerator; Second level kitchen
• Bedrooms: Total of 4 bedrooms; Second level contains 3 bedrooms; First level contains 1 bedroom
• Bathrooms: Second level has 1 full bath; First level has 1 full bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Separate meters for units; Basement with laundry
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $112k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $523/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $111k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.5% 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 (+4.9%/yr); 140 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• At $2,227/mo this rent would consume 84% of the median local household income ($32k/yr) (locally 1483% 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 $778 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.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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 $74k; list at $112k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $110,812 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 1.98% ✓
• Cap rate: 17.46%
• Cash-on-cash: 39.88%
• DSCR: 2.77
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $71,190
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
670 S 38th St	0.24mi	4/2.0	2,322 (+14%)	4mo	$82,000	$35	62

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: 38.3%
• Equity multiple: 2.67×
• Total profit: $52,709
• Equity at exit: $16,774

10-year hold

• IRR: 45.6%
• Equity multiple: 5.76×
• Total profit: $149,926
• Equity at exit: $9,727

Cash invested: $31,500 (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 40211

• Home prices YoY: -33.4%
• Rents YoY: 4.9%
• Active inventory: 140
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,227 high
• Mortgage (P&I): −$590
• Tax from tax record: −$76 /mo · $907/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $1,047

Break-even live

Break-even rent $902

Max offer price $112,500

Occupancy floor 48%

Sensitivity live

Price	-10% $1,111	-5% $1,079	+0% $1,047	+5% $1,015	+10% $983
Rent	-10% $871	-5% $959	+0% $1,047	+5% $1,135	+10% $1,223
Rate	-1.0pp $1,104	-0.5pp $1,076	base $1,047	+0.5pp $1,018	+1.0pp $988

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,228
Total (2 units)			$2,227

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3909 W Broadway Louisville, KY	5.0	2.0	2000	$1,745	$0.87	16d	1	0.21mi
722 S 40th St Unit NA Louisville, KY	4.0	2.5	1556	$1,700	$1.09	4d	1	0.23mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	24d	1	0.25mi
628 S 39th St Louisville, KY	3.0	1.0	1448	$1,220	$0.84	16d	1	0.36mi
3514 Grand Ave Louisville, KY	3.0	1.5	1450	$1,295	$0.89	22d	1	0.52mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	3d	1	0.52mi
4220 Sunset Ave Louisville, KY	5.0	1.5	1464	$1,950	$1.33	2d	1	0.72mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	24d	1	0.85mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	4d	1	1.12mi
858 S 23rd St Louisville, KY	5.0	1.0	2228	$2,100	$0.94	17d	1	1.30mi
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	16d	1	1.37mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	24d	1	1.42mi
1618 S 30th St Louisville, KY	3.0	1.0	1896	$1,235	$0.65	16d	1	1.44mi
205 N 26th St Louisville, KY	5.0	2.0	1538	$1,700	$1.11	24d	1	1.46mi
1545 Catalpa St Louisville, KY	4.0	1.5	1760	$1,545	$0.88	4d	1	1.46mi

Listing history 42 events

1. 2026-06-18
   days on market $112,500 Active 28 DOM
2. 2026-06-17
   days on market $112,500 Active 27 DOM
3. 2026-06-16
   days on market $112,500 Active 26 DOM
4. 2026-06-15
   days on market $112,500 Active 25 DOM
5. 2026-06-13
   remarks 424-char remark
6. 2026-06-13
   pricedays on market $112,500 Active 23 DOM
7. 2026-06-10
   days on market $114,900 Active 20 DOM
8. 2026-06-09
   days on market $114,900 Active 19 DOM
9. 2026-06-08
   days on market $114,900 Active 18 DOM
10. 2026-06-07
    days on market $114,900 Active 17 DOM
11. 2026-06-03
    days on market $114,900 Active 13 DOM
12. 2026-06-02
    days on market $114,900 Active 12 DOM
13. 2026-06-01
    days on market $114,900 Active 11 DOM
14. 2026-05-31
    days on market $114,900 Active 10 DOM
15. 2026-05-21
    listed $114,900 Active
16. 2026-05-06
    price $117,900
17. 2026-05-06
    price $117,900
18. 2026-04-25
    price $118,900
19. 2026-04-25
    price $118,900
20. 2026-04-08
    price $119,900
21. 2026-04-08
    price $119,900
22. 2026-04-03
    price $124,899
23. 2026-04-03
    price $124,899
24. 2026-03-12
    price $124,900
25. 2026-03-12
    price $124,900
26. 2026-03-06
    price $129,899
27. 2026-03-06
    price $129,899
28. 2026-02-14
    price $129,900
29. 2026-02-14
    price $129,900
30. 2026-02-05
    price $133,500
31. 2026-02-05
    price $133,500
32. 2026-02-03
    price $133,900
33. 2026-01-28
    price $133,900
34. 2025-12-17
    price $143,900
35. 2025-12-12
    price $144,500
36. 2011-07-21
    historical
37. 2011-01-31
    listed $14,500
38. 2005-10-13
    soldstatus $73,600
39. 2005-10-05
    soldstatus $73,600
40. 2005-10-05
    soldstatus $73,600
41. 2005-03-22
    listed $75,000
42. 2005-03-22
    listed $75,000

ⓘ 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: $907 · $76/mo
• Projected year-2 tax: $968 · $81/mo
• Expected delta: +$60/yr (+$5/mo · 6.6%)

ⓘ 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 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: $26,724
• − Mortgage interest: −$6,302
• − Property taxes: −$907
• − Insurance: −$562
• − Repairs & maintenance: −$2,138
• − Management: −$2,138
• − Depreciation: −$3,273
• Taxable income: $11,404
• Est. tax owed @ 24.0%: −$2,737
• After-tax cash flow: $9,826/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): 20,407
• Household income: $31,749
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 1483.0

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 (90%)
• Race & ethnicity: Black 90% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

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: ▼ -88.22%
• Current HPI: 176.337
• Rent YoY: ▲ 4.87%
• 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

+53.2% since first listed

28 events — show timeline

• 2026-05-21 Listed $114,900 Metro Search MLS
• 2026-05-06 Price Changed $117,900 Metro Search MLS
• 2026-05-06 Price Changed $117,900 Metro Search MLS
• 2026-04-25 Price Changed $118,900 Metro Search MLS
• 2026-04-25 Price Changed $118,900 Metro Search MLS
• 2026-04-08 Price Changed $119,900 Metro Search MLS
• 2026-04-08 Price Changed $119,900 Metro Search MLS
• 2026-04-03 Price Changed $124,899 Metro Search MLS
• 2026-04-03 Price Changed $124,899 Metro Search MLS
• 2026-03-12 Price Changed $124,900 Metro Search MLS
• 2026-03-12 Price Changed $124,900 Metro Search MLS
• 2026-03-06 Price Changed $129,899 Metro Search MLS
• 2026-03-06 Price Changed $129,899 Metro Search MLS
• 2026-02-14 Price Changed $129,900 Metro Search MLS
• 2026-02-14 Price Changed $129,900 Metro Search MLS
• 2026-02-05 Price Changed $133,500 Metro Search MLS
• 2026-02-05 Price Changed $133,500 Metro Search MLS
• 2026-02-03 Price Changed $133,900 Metro Search MLS
• 2026-01-28 Price Changed $133,900 Metro Search MLS
• 2025-12-17 Price Changed $143,900 Metro Search MLS
• 2025-12-12 Price Changed $144,500 Metro Search MLS
• 2011-07-21 Listing Removed — Metro Search MLS
• 2011-01-31 Listed $14,500 Metro Search MLS
• 2005-10-13 Sold (Public Records) $73,600 Public Records
• 2005-10-05 Sold (MLS) $73,600 Metro Search MLS
• 2005-10-05 Sold (MLS) $73,600 Metro Search MLS
• 2005-03-22 Listed $75,000 Metro Search MLS
• 2005-03-22 Listed $75,000 Metro Search MLS

Property tax history

+0.3%/yr

Latest (2025): $907 · -1.9% YoY. Source: county tax records.