6500 Hackel Dr · Louisville/Jefferson County metro government (balance), KY 40258

$1,140,900

24 bd · 12.0 ba · 21,312 sqft · MultiFamily · 39 Days on market

Built 1974 0.29 ac 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
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• 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: 8 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

SOLID, BRICK 12-PLEX W/HUGE, 24-SLOT PARKING LOT. IN RAPIDLY IMPROVING AREA. *AT LEAST 48 HRS NOTICE TO SHOW.* 2 UNITS VACANT/1 BEING USED FOR STORAGE BUT WILL BE MADE RENT-READY PRIOR TO CLOSING. SOME SEC.8/SOME MARKET. BASED ON $400/UNIT, $4,800/MO. MIN. POSSIBLE. UPSIDE ON RENT GOOD. ALL UNITS HAVE 2 BR/1 BA/LR/DR/KIT. 2nd BR HAS HUGE W/I CLOSET. ALL KITS. W/RANGE & REFRIG. FURNACES, WATER HEATERS & CENTRAL AIR UNITS OF VARIOUS AGES. 8 UNITS HAVE NEWER CARPETING. EXCELLENT POTENTIAL FOR RENT INCREASE TO APPROX. $435/UNIT. DON'T CURB APPRAISE. COULD USE SOME LANDSCAPING & SIGNAGE. NEW CONSTRUCTION ALL AROUND. SEWER HOOK-UP EXPENSE IS NEGOTIABLE. NOTE: SEP. METERS. NEW LAUNDRY BEING BUILT IN AREA.

Key facts

• Washer dryer hookups
• Durable lvp flooring
• 0.29 acre lot

Tags

• WASHER DRYER HOOKUPS
• DURABLE LVP FLOORING
• SEPARATELY METERED LG&E
• LOW MAINTENANCE FEATURES

Property features AI

Finance

• Other: Lot is approximately 0.29 acres with lot dimensions 97.8 x 105.7 x 65.4 x 149.7; Subdivision: HUNTERS HILL; Not in a flood plain
• Financial info: Reported rent values listed per level (same amount for 1st, 2nd and 3rd): 895900.0 (as provided in data)
• HOA & community: No association fee

Exterior

• Parking: 21 parking spaces; No covered parking
• Utilities: Electricity connected; Owner pays water, sewer and trash removal; Tenants pay electric
• Home design: Apartment building; Built in 1974
• Construction: Brick construction; Shingle roof; Building area reported as 10,656 (source: Other)
• Exterior features: No exterior features listed

Interior

• Kitchen: Each unit includes a kitchen; Ranges provided on 1st, 2nd and 3rd levels (4 per level); Refrigerators provided on 1st, 2nd and 3rd levels (4 per level); Dishwashers provided on 1st, 2nd and 3rd levels (4 per level)
• Bedrooms: Total of 24 bedrooms; Each of the 1st, 2nd and 3rd levels contains 8 bedrooms
• Bathrooms: Each of the 1st, 2nd and 3rd levels has 4 full bathrooms; No partial baths reported on any level; No basement bathrooms
• Heating & cooling: Electric heating with forced air; 12 furnaces; Central air conditioning with 12 HVAC units
• Interior features: Apartment property with multiple units; Each floor contains living rooms and dining rooms
• Laundry & utility: Laundry facilities provided on 1st, 2nd and 3rd levels (4 per level); Basement has no laundry

What this means for you Summary

Snapshot

• This is a 8 × 3-bed/?-bath units multifamily listed at $1.14M.

Deal economics

• At list price, monthly cash flow is $5k ($56k/yr) — positive. Per door: $583/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $1.14M).
• Recommended offer: $1.11M (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.1% 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.
• Zoned schools: Sanders Elementary (math 8% / reading 22%, grade F, #620 of 676 statewide, top 93%, 430 students, 78% FRL); Conway Middle (math 4% / reading 20%, grade F, #215 of 217 statewide, top 99%, 730 students, 72% FRL); Western High (math 2% / reading 12%, grade F, #248 of 254 statewide, top 98%, 869 students, 77% FRL) — zoned schools average 76% FRL vs 56% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 11% at this address vs 27% district-wide (-16 pts) — the specific schools serving this property underperform the Jefferson County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 127 active listings in the ZIP; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• At $15,039/mo this rent would consume 265% 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 $8k of loan paydown is wiped out by about $34k 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 $319k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($1.11M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y ago; this cycle's ask has dropped $83k (7%) 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 $1,106,673 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1974 — 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: 1.32% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.51%
• DSCR: 1.78
• GRM: 6.3

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: 6.2%
• Equity multiple: 1.23×
• Total profit: $74,996
• Equity at exit: $170,112

10-year hold

• IRR: 13.3%
• Equity multiple: 1.95×
• Total profit: $302,895
• Equity at exit: $98,644

Cash invested: $319,452 (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: 127
• Price-to-rent: 50.6×

Monthly cashflow live

• Estimated rent: $15,039 medium
• Mortgage (P&I): −$5,983
• Tax from tax record: −$760 /mo · $9,118/yr
• Insurance: −$475
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,158
• Net cashflow: $4,663

Break-even live

Break-even rent $9,137

Max offer price $1,140,900

Occupancy floor 64%

Sensitivity live

Price	-10% $5,308	-5% $4,986	+0% $4,663	+5% $4,340	+10% $4,017
Rent	-10% $3,475	-5% $4,069	+0% $4,663	+5% $5,257	+10% $5,851
Rate	-1.0pp $5,237	-0.5pp $4,953	base $4,663	+0.5pp $4,367	+1.0pp $4,066

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

Units	Beds	Baths	Est. rent
▸ 8× units	3	—	$15,040
Total (8 units)			$15,039

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: $285,225
• Closing costs: $34,227
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-22
   days on market $1,140,900 Active 39 DOM
2. 2026-06-21
   days on market $1,140,900 Active 38 DOM
3. 2026-06-18
   days on market $1,140,900 Active 35 DOM
4. 2026-06-17
   days on market $1,140,900 Active 34 DOM
5. 2026-06-16
   days on market $1,140,900 Active 33 DOM
6. 2026-06-15
   days on market $1,140,900 Active 32 DOM
7. 2026-06-13
   pricedays on market $1,140,900 Active 30 DOM
8. 2026-06-10
   days on market $1,223,900 Active 27 DOM
9. 2026-06-09
   days on market $1,223,900 Active 26 DOM
10. 2026-06-08
    days on market $1,223,900 Active 25 DOM
11. 2026-06-07
    days on market $1,223,900 Active 24 DOM
12. 2026-06-03
    days on market $1,223,900 Active 20 DOM
13. 2026-06-02
    days on market $1,223,900 Active 19 DOM
14. 2026-06-01
    days on market $1,223,900 Active 18 DOM
15. 2026-05-31
    days on market $1,223,900 Active 17 DOM
16. 2026-05-14
    listed $1,223,900 Active
17. 2024-10-20
    historical $895
18. 2024-10-20
    listed $895
19. 2024-10-14
    historical $895
20. 2024-10-13
    listed $895
21. 2022-12-01
    soldstatus $1,050,000
22. 2021-01-29
    soldstatus $605,000
23. 2015-01-27
    historical
24. 2014-11-03
    listed $129,900
25. 2014-03-31
    soldstatus $501,000
26. 2008-11-13
    soldstatus $273,000
27. 2007-09-27
    soldstatus $291,077
28. 2002-12-04
    soldstatus $277,000 719-char remark

    Show marketing remark (719 chars)

    SOLID, BRICK 12-PLEX W/HUGE, 24-SLOT PARKING LOT. IN RAPIDLY IMPROVING AREA. *AT LEAST 48 HRS NOTICE TO SHOW.* 2 UNITS VACANT/1 BEING USED FOR STORAGE BUT WILL BE MADE RENT-READY PRIOR TO CLOSING. SOME SEC.8/SOME MARKET. BASED ON $400/UNIT, $4,800/MO. MIN. POSSIBLE. UPSIDE ON RENT GOOD. ALL UNITS HAVE 2 BR/1 BA/LR/DR/KIT. 2nd BR HAS HUGE W/I CLOSET. ALL KITS. W/RANGE & REFRIG. FURNACES, WATER HEATERS & CENTRAL AIR UNITS OF VARIOUS AGES. 8 UNITS HAVE NEWER CARPETING. EXCELLENT POTENTIAL FOR RENT INCREASE TO APPROX. $435/UNIT. DON'T CURB APPRAISE. COULD USE SOME LANDSCAPING & SIGNAGE. NEW CONSTRUCTION ALL AROUND. SEWER HOOK-UP EXPENSE IS NEGOTIABLE. NOTE: SEP. METERS. NEW LAUNDRY BEING BUILT IN AREA.

29. 2002-10-21
    listed $314,900 719-char remark

    Show marketing remark (719 chars)

    SOLID, BRICK 12-PLEX W/HUGE, 24-SLOT PARKING LOT. IN RAPIDLY IMPROVING AREA. *AT LEAST 48 HRS NOTICE TO SHOW.* 2 UNITS VACANT/1 BEING USED FOR STORAGE BUT WILL BE MADE RENT-READY PRIOR TO CLOSING. SOME SEC.8/SOME MARKET. BASED ON $400/UNIT, $4,800/MO. MIN. POSSIBLE. UPSIDE ON RENT GOOD. ALL UNITS HAVE 2 BR/1 BA/LR/DR/KIT. 2nd BR HAS HUGE W/I CLOSET. ALL KITS. W/RANGE & REFRIG. FURNACES, WATER HEATERS & CENTRAL AIR UNITS OF VARIOUS AGES. 8 UNITS HAVE NEWER CARPETING. EXCELLENT POTENTIAL FOR RENT INCREASE TO APPROX. $435/UNIT. DON'T CURB APPRAISE. COULD USE SOME LANDSCAPING & SIGNAGE. NEW CONSTRUCTION ALL AROUND. SEWER HOOK-UP EXPENSE IS NEGOTIABLE. NOTE: SEP. METERS. NEW LAUNDRY BEING BUILT IN AREA.

ⓘ 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: $9,118 · $760/mo
• Projected year-2 tax: $9,812 · $818/mo
• Expected delta: +$694/yr (+$58/mo · 7.6%)

ⓘ 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 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: $180,468
• − Mortgage interest: −$63,908
• − Property taxes: −$9,118
• − Insurance: −$5,704
• − Repairs & maintenance: −$14,437
• − Management: −$14,437
• − Depreciation: −$33,190
• Taxable income: $39,672
• Est. tax owed @ 24.0%: −$9,521
• After-tax cash flow: $46,430/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

+288.7% since first listed

14 events — show timeline

• 2026-05-14 Listed $1,223,900 Metro Search MLS
• 2024-10-20 Rental Removed $895 APPFOLIO
• 2024-10-20 Listed for Rent $895 APPFOLIO
• 2024-10-14 Rental Removed $895 APPFOLIO
• 2024-10-13 Listed for Rent $895 APPFOLIO
• 2022-12-01 Sold (Public Records) $1,050,000 Public Records
• 2021-01-29 Sold (Public Records) $605,000 Public Records
• 2015-01-27 Listing Removed — Metro Search MLS
• 2014-11-03 Listed $129,900 Metro Search MLS
• 2014-03-31 Sold (Public Records) $501,000 Public Records
• 2008-11-13 Sold (Public Records) $273,000 Public Records
• 2007-09-27 Sold (Public Records) $291,077 Public Records
• 2002-12-04 Sold (MLS) $277,000 Metro Search MLS
• 2002-10-21 Listed $314,900 Metro Search MLS

Property tax history

+16.4%/yr

Latest (2025): $9,118 · -2.1% YoY. Source: county tax records.