2924 Slevin St · Louisville, KY 40212

$60,000

2 bd · 1.0 ba · 731 sqft · SingleFamily · 147 Days on market

Built 1925 4,112 sqft lot Est $74k · 19% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.7/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Opportunity awaits at 2924 Slevin Street in Louisville, KY. Situated toward the end of Slevin Street, this home is ready for a new owner and offers plenty of room to add value. Whether you're looking for a rental, flip, or long-term hold, this property provides a solid starting point with the chance to make improvements and customize to your vision. This is a great option for investors or buyers seeking a project in a peaceful neighborhood. Don't miss the potential this home has to offer.

Key facts

• 4,112 sq ft lot
• Built 1925
• Listed 147 days

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: No designated parking
• Utilities: Electricity connected
• Home design: Single-family residence (Shotgun style); One story
• Construction: Built in 1925; Vinyl siding; Shingle roof; Concrete block foundation
• Exterior features: Level lot; Chain link fencing

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms on the first floor
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Unfinished basement; 4 closets; 4 total main rooms (5 total rooms overall)
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($880 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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 flat; 140 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• In year one you build about $6k of equity ($415 loan paydown + $6k 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 + 0.5% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 1.47% ✓
• Cap rate: 12.64%
• Cash-on-cash: 22.66%
• DSCR: 2.01
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $73,831
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 N 37th St	0.63mi	2/1.0	700 (-4%)	1mo	$65,000	$93	63
3120 W Jefferson St	0.55mi	1/1.0 (-1)	731 (0%)	9mo	$89,000	$122	62
2708 Duncan St	0.25mi	2/1.0	668 (-9%)	18mo	$73,000	$109	59
219 N 37th St	0.60mi	2/1.0	700 (-4%)	9mo	$69,000	$99	57
333 N 38th St	0.67mi	2/1.0	734 (+0%)	15mo	$137,500	$187	55
111 S 28th St	0.41mi	2/1.0	816 (+12%)	9mo	$106,900	$131	54
216 N 25th St	0.50mi	2/1.0	840 (+15%)	6mo	$85,000	$101	47
224 N 26th St	0.37mi	3/1.0 (+1)	812 (+11%)	15mo	$32,000	$39	47
320 N 36th St	0.56mi	3/1.0 (+1)	830 (+14%)	3mo	$111,575	$134	43
116 N 25th St	0.54mi	2/1.0	814 (+11%)	15mo	$50,000	$61	43
415 N 38th St	0.69mi	2/1.0	783 (+7%)	23mo	$66,298	$85	37
3438 W Jefferson St	0.71mi	2/1.0	660 (-10%)	20mo	$48,800	$74	34

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 · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 36.9%
• Equity multiple: 3.81×
• Total profit: $47,220
• Equity at exit: $54,053

10-year hold

• IRR: 30.9%
• Equity multiple: 8.27×
• Total profit: $122,059
• Equity at exit: $116,567

Cash invested: $16,800 (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 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 140
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $880 high
• Mortgage (P&I): −$315
• Tax from tax record: −$38 /mo · $460/yr
• Insurance: −$25
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $262

Break-even live

Break-even rent $549

Max offer price $60,000

Occupancy floor 65%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2717 Slevin St Louisville, KY	1.0	1.0	620	$725	$1.17	16d	1	0.21mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	23d	1	0.44mi
2722 Portland Ave Unit 1 Louisville, KY	1.0	1.0	500	$950	$1.90	23d	1	0.52mi
521 N 33rd St Louisville, KY	1.0	1.0	650	$795	$1.22	23d	1	0.52mi
3416 W Main St Louisville, KY	1.0	1.0	667	$825	$1.24	23d	1	0.55mi
2718 W Jefferson St Louisville, KY	1.0	1.0	633	$699	$1.10	21d	1	0.58mi
2718 W Jefferson St Unit 2718-3 Louisville, KY	1.0	1.0	633	$699	$1.10	23d	1	0.58mi
219 N 37th St Louisville, KY	2.0	1.0	700	$1,150	$1.64	23d	1	0.60mi
2510 Portland Ave Unit 206 Louisville, KY	2.0	1.0	615	$950	$1.54	23d	1	0.60mi
2614 W Jefferson St Louisville, KY	1.0	1.0	633	$695	$1.10	20d	1	0.61mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	23d	1	0.61mi
2510 Portland Ave Unit 203 Louisville, KY	2.0	1.0	625	$995	$1.59	3d	1	0.61mi
103 N 38th St Apt 4 Louisville, KY	1.0	1.0	625	$950	$1.52	17d	1	0.69mi
111 Hansbrough Pl Unit 101 Louisville, KY	1.0	1.0	686	$890	$1.30	23d	1	0.78mi
3124 Vermont Ave Unit 3124-1 Louisville, KY	1.0	1.0	650	$695	$1.07	23d	1	0.81mi
3124 Vermont Ave Louisville, KY	1.0	1.0	650	$699	$1.08	23d	1	0.81mi
220 Doctor W. J. Hodge St Unit 1 Louisville, KY	1.0	1.0	570	$700	$1.23	17d	1	0.95mi
519 N 20th St Louisville, KY	1.0	1.0	550	$795	$1.45	23d	1	0.96mi
112 Boston Ct Louisville, KY	1.0	1.0	650	$800	$1.23	23d	1	0.99mi
127 Boston Ct Louisville, KY	2.0	1.0	725	$1,100	$1.52	23d	1	0.99mi
4143 W Market St Unit 2 Louisville, KY	2.0	1.0	700	$850	$1.21	23d	1	1.03mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	20d	1	1.11mi
691 Madelon Ct Louisville, KY	1.0	1.0	650	$675	$1.04	11d	1	1.18mi
1704 Rowan St Unit 1704-2 Louisville, KY	3.0	1.0	740	$850	$1.15	23d	1	1.20mi
4018 Vermont Ave Unit 1 Louisville, KY	2.0	1.0	700	$699	$1.00	3d	1	1.22mi
115 N 46th St Unit 2 Louisville, KY	1.0	1.0	650	$750	$1.15	23d	1	1.25mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	3d	1	1.42mi

Listing history 7 events

1. 2026-06-08
   days on market $60,000 Active 147 DOM
2. 2026-06-07
   days on market $60,000 Active 146 DOM
3. 2026-06-03
   days on market $60,000 Active 142 DOM
4. 2026-06-02
   days on market $60,000 Active 141 DOM
5. 2026-06-01
   days on market $60,000 Active 140 DOM
6. 2026-05-31
   days on market $60,000 Active 139 DOM
7. 2026-01-12
   listed $60,000 Active

ⓘ 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: $460 · $38/mo
• Projected year-2 tax: $516 · $43/mo
• Expected delta: +$56/yr (+$5/mo · 12.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,561
• − Mortgage interest: −$3,361
• − Property taxes: −$460
• − Insurance: −$966
• − Repairs & maintenance: −$845
• − Management: −$845
• − Depreciation: −$1,745
• Taxable income: $2,338
• Est. tax owed @ 24.0%: −$561
• After-tax cash flow: $2,579/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): 14,661
• Household income: $35,753
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1148.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 37% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Lithuanian 1% Iranian 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: ▲ 29.02%
• Current HPI: 293.2624
• Rent YoY: ▲ 0.51%
• 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

1 event — show timeline

• 2026-01-12 Listed $60,000 Metro Search MLS

Property tax history

+5.3%/yr

Latest (2025): $460 · -1.9% YoY. Source: county tax records.