1785 W Hill St · Louisville, KY 40210

$165,000

2 bd · 2.0 ba · 1,374 sqft · MultiFamily · 39 Days on market

Built 1905 6,199 sqft lot

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Why this score? — see what drove the D 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 +10.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• 1% rule +1.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This centrally located duplex offers two income-producing units, each featuring 1 bedroom and 1 full bath. Inside, both levels have been refreshed with new flooring and fresh paint, giving the next owner a head start—just add your finishing touches and get it rental-ready quickly. The first-floor unit offers easy access and a functional layout, while the second-floor unit includes a private deck, perfect for tenant enjoyment and added rental appeal. With its prime location, updated interior, and strong rental potential, this property is a smart addition to any investment portfolio. Don't miss out on this great opportunity to own in the heart of Louisville!

Key facts

• Bright kitchen
• New furnace
• Large yard

Tags

• REMODELED HOME
• UPDATED FLOORING
• BRIGHT KITCHEN
• NEW FURNACE
• COMPLETED ROOF REPAIRS
• LARGE YARD

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Electricity connected
• Home design: Traditional single-family home; Two stories; Built in 1905
• Construction: Vinyl siding; Shingle roof; Slab foundation
• Exterior features: Balcony; Chain link fencing

Interior

• Bedrooms: Two bedrooms total; Primary bedroom on the first floor; One first-floor bedroom
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric and natural gas heating; Central air conditioning
• Interior features: Six total rooms; Two closets; No basement; No fireplaces
• Laundry & utility: Laundry on the first floor

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (32.0% below list).
• Recommended offer: $112k (32.0% below list) — sets the bar for 1% rule.

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+, crime F.
• 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: Mcferran Preparatory Academy (math 2% / reading 8%, grade F, #670 of 676 statewide, top 100%, 691 students, 83% FRL); Noe Middle (math 49% / reading 62%, grade B-, #7 of 217 statewide, top 3%, 1,347 students, 46% FRL); Iroquois High (math 12% / reading 8%, grade F, #245 of 254 statewide, top 97%, 1,090 students, 74% FRL).
• Market conditions: Rents rising fast (+8.1%/yr); 93 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 38% 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 $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Jefferson County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 28y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $165k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — 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 $112,145 (32.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1905 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.68% ✗
• Cap rate: 5.58%
• Cash-on-cash: -2.53%
• DSCR: 0.89
• GRM: 12.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 23.8%
• Equity multiple: 2.94×
• Total profit: $89,502
• Equity at exit: $148,645

10-year hold

• IRR: 22.2%
• Equity multiple: 7.12×
• Total profit: $282,974
• Equity at exit: $320,559

Cash invested: $46,200 (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: 93
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,121 high
• Mortgage (P&I): −$865
• Tax from tax record: −$49 /mo · $593/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $-97

Break-even live

Break-even rent $1,245

Max offer price $147,779

Occupancy floor —

Sensitivity live

Price	-10% $-4	-5% $-51	+0% $-97	+5% $-144	+10% $-191
Rent	-10% $-186	-5% $-142	+0% $-97	+5% $-53	+10% $-9
Rate	-1.0pp $-14	-0.5pp $-56	base $-97	+0.5pp $-140	+1.0pp $-184

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	25d	1	0.06mi
1774 Bolling Ave Louisville, KY	3.0	2.0	1611	$1,300	$0.81	12d	1	0.08mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	25d	1	0.19mi
1842 Bolling Ave Louisville, KY	1.0	1.0	900	$895	$0.99	16d	1	0.20mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	25d	1	0.20mi
1410 Standard Village Cir Louisville, KY	3.0	2.0	1200	$900	$0.75	25d	1	0.46mi
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	18d	1	0.47mi
2223 Saint Louis Ave Louisville, KY	3.0	1.5	1152	$1,175	$1.02	25d	1	0.50mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	18d	1	0.52mi
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	12d	1	0.75mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	25d	1	0.77mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	25d	1	0.79mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	22d	1	0.79mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	25d	1	0.83mi
1244 Algonquin Pkwy Louisville, KY	3.0	1.5	1136	$1,400	$1.23	25d	1	0.88mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	25d	1	0.91mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	25d	1	0.91mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	25d	1	0.92mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	23d	1	0.97mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	12d	1	0.97mi
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	5d	1	0.98mi
1644 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	900	$950	$1.06	25d	1	1.00mi
1723 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	1200	$1,300	$1.08	25d	1	1.03mi
1731 Sonne Ave Louisville, KY	3.0	1.0	1010	$1,300	$1.29	18d	1	1.04mi
2311 Plantation Dr Louisville, KY	3.0	1.0	988	$1,200	$1.21	18d	1	1.04mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	25d	1	1.08mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	25d	1	1.14mi
1501 Bellamy Pl Louisville, KY	2.0–4.0	2.0–4.0	1074	$1,758	$1.64	5d	1	1.16mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	25d	1	1.16mi
1161 Lincoln Ave Louisville, KY	2.0	1.5	1358	$1,150	$0.85	18d	1	1.19mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	25d	1	1.19mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	25d	1	1.19mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	25d	1	1.19mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	25d	1	1.19mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	25d	1	1.19mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	18d	1	1.21mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	25d	1	1.22mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	22d	1	1.22mi
1055 Euclid Ave Louisville, KY	2.0	1.0	914	$1,325	$1.45	25d	1	1.24mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	5d	1	1.26mi

Listing history 30 events

1. 2026-06-21
   days on market $165,000 Active 39 DOM
2. 2026-06-18
   days on market $165,000 Active 36 DOM
3. 2026-06-17
   days on market $165,000 Active 35 DOM
4. 2026-06-16
   days on market $165,000 Active 34 DOM
5. 2026-06-15
   days on market $165,000 Active 33 DOM
6. 2026-06-13
   pricedays on market $165,000 Active 31 DOM
7. 2026-06-10
   days on market $175,000 Active 28 DOM
8. 2026-06-09
   days on market $175,000 Active 27 DOM
9. 2026-06-08
   days on market $175,000 Active 26 DOM
10. 2026-06-07
    days on market $175,000 Active 25 DOM
11. 2026-06-03
    days on market $175,000 Active 21 DOM
12. 2026-06-02
    days on market $175,000 Active 20 DOM
13. 2026-06-01
    days on market $175,000 Active 19 DOM
14. 2026-05-31
    days on market $175,000 Active 18 DOM
15. 2026-05-13
    listed $175,000 Active
16. 2025-11-24
    soldstatus $75,000
17. 2025-11-21
    status Pending 670-char remark

    Show marketing remark (670 chars)

    This centrally located duplex offers two income-producing units, each featuring 1 bedroom and 1 full bath. Inside, both levels have been refreshed with new flooring and fresh paint, giving the next owner a head start—just add your finishing touches and get it rental-ready quickly. The first-floor unit offers easy access and a functional layout, while the second-floor unit includes a private deck, perfect for tenant enjoyment and added rental appeal. With its prime location, updated interior, and strong rental potential, this property is a smart addition to any investment portfolio. Don't miss out on this great opportunity to own in the heart of Louisville!

18. 2025-11-20
    soldstatus $75,000 Closed 670-char remark

    Show marketing remark (670 chars)

    This centrally located duplex offers two income-producing units, each featuring 1 bedroom and 1 full bath. Inside, both levels have been refreshed with new flooring and fresh paint, giving the next owner a head start—just add your finishing touches and get it rental-ready quickly. The first-floor unit offers easy access and a functional layout, while the second-floor unit includes a private deck, perfect for tenant enjoyment and added rental appeal. With its prime location, updated interior, and strong rental potential, this property is a smart addition to any investment portfolio. Don't miss out on this great opportunity to own in the heart of Louisville!

19. 2025-11-02
    historical Active Under Contract 670-char remark

    Show marketing remark (670 chars)

    This centrally located duplex offers two income-producing units, each featuring 1 bedroom and 1 full bath. Inside, both levels have been refreshed with new flooring and fresh paint, giving the next owner a head start—just add your finishing touches and get it rental-ready quickly. The first-floor unit offers easy access and a functional layout, while the second-floor unit includes a private deck, perfect for tenant enjoyment and added rental appeal. With its prime location, updated interior, and strong rental potential, this property is a smart addition to any investment portfolio. Don't miss out on this great opportunity to own in the heart of Louisville!

20. 2025-10-19
    listed $85,000 Active 670-char remark

    Show marketing remark (670 chars)

    This centrally located duplex offers two income-producing units, each featuring 1 bedroom and 1 full bath. Inside, both levels have been refreshed with new flooring and fresh paint, giving the next owner a head start—just add your finishing touches and get it rental-ready quickly. The first-floor unit offers easy access and a functional layout, while the second-floor unit includes a private deck, perfect for tenant enjoyment and added rental appeal. With its prime location, updated interior, and strong rental potential, this property is a smart addition to any investment portfolio. Don't miss out on this great opportunity to own in the heart of Louisville!

21. 2025-10-07
    price $100,000
22. 2025-07-22
    soldstatus $55,000
23. 2007-01-30
    historical
24. 2006-08-03
    listed $64,000
25. 2003-04-24
    soldstatus $64,000
26. 2003-02-28
    listed $65,500
27. 2000-08-21
    historical
28. 2000-02-21
    listed $68,500
29. 1999-07-09
    soldstatus $25,000
30. 1998-04-20
    listed $26,500

ⓘ 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: $593 · $49/mo
• Projected year-2 tax: $1,419 · $118/mo
• Expected delta: +$826/yr (+$69/mo · 139.4%)

ⓘ 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 (unshaded) · 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: $13,457
• − Mortgage interest: −$9,243
• − Property taxes: −$593
• − Insurance: −$825
• − Repairs & maintenance: −$1,077
• − Management: −$1,077
• − Depreciation: −$4,800
• Taxable loss: −$4,156
• Est. tax savings @ 24.0%: +$997
• After-tax cash flow: $-172/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

+560.4% since first listed

16 events — show timeline

• 2026-05-13 Listed $175,000 Metro Search MLS
• 2025-11-24 Sold (Public Records) $75,000 Public Records
• 2025-11-21 Pending — Metro Search MLS
• 2025-11-20 Sold (MLS) $75,000 Metro Search MLS
• 2025-11-02 Contingent — Metro Search MLS
• 2025-10-19 Listed $85,000 Metro Search MLS
• 2025-10-07 Price Changed $100,000 Metro Search MLS
• 2025-07-22 Sold (Public Records) $55,000 Public Records
• 2007-01-30 Listing Removed — Metro Search MLS
• 2006-08-03 Listed $64,000 Metro Search MLS
• 2003-04-24 Sold (MLS) $64,000 Metro Search MLS
• 2003-02-28 Listed $65,500 Metro Search MLS
• 2000-08-21 Listing Removed — Metro Search MLS
• 2000-02-21 Listed $68,500 Metro Search MLS
• 1999-07-09 Sold (MLS) $25,000 Metro Search MLS
• 1998-04-20 Listed $26,500 Metro Search MLS

Property tax history

+5.7%/yr

Latest (2025): $593 · -1.9% YoY. Source: county tax records.