1812 Magazine St · Louisville, KY 40203

$109,995

3 bd · 1.0 ba · 1,248 sqft · SingleFamily · 297 Days on market

Built 1994 0.70 ac lot Est $136k · 19% under ↓ 8% since listing

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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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.0/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom home offers a comfortable layout with a warm, welcoming feel from the moment you walk in. The living room provides a great space to relax or gather, and the kitchen offers plenty of room for everyday meals and conversation. With a practical floor plan and inviting atmosphere, this home makes it easy to settle in and feel at home.

Key facts

• 0.7 acre lot
• Built 1994
• Listed 297 days

Property features AI

Finance

• Other: Subdivision: RUSSELL
• HOA & community: No monthly maintenance fees

Exterior

• Parking: No on-site parking
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family ranch-style home; One story
• Construction: Built in 1994; Vinyl siding exterior; Shingle roof; Crawl space foundation
• Exterior features: Level lot; Chain link fence

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: Three bedrooms, all on the first floor; Primary bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Five rooms total; No basement
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 (+3.7%/yr); 114 active listings in the ZIP; 40 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).
• At $1,213/mo this rent would consume 47% of the median local household income ($31k/yr) (locally 1603% 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 $760 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 + 3.7% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 297 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

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 $96,795 (12.0% below list)

Questions for the listing agent

1. It's been on market 297 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.10% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.97%
• DSCR: 1.44
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $136,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
629 S 19th St	0.05mi	3/2.5	1,358 (+9%)	4mo	$159,900	$118	74
2102 Magazine St	0.25mi	2/1.0 (-1)	1,148 (-8%)	3mo	$42,500	$37	68
408 Dr W J Hodge St	0.45mi	2/1.5 (-1)	1,270 (+2%)	3mo	$120,000	$94	66
720 S 24th St	0.55mi	3/1.5	1,254 (+0%)	7mo	$155,000	$124	66
1532 W Breckinridge St	0.48mi	3/1.0	1,142 (-8%)	3mo	$120,000	$105	61
2425 Elliott Ave	0.57mi	3/2.0	1,325 (+6%)	5mo	$145,000	$109	54
2338 W Madison St	0.55mi	4/1.0 (+1)	1,136 (-9%)	1mo	$125,000	$110	53
2321 W Market St	0.74mi	3/1.0	1,138 (-9%)	1mo	$110,000	$97	50
2010 W Market St	0.56mi	3/2.0	1,376 (+10%)	4mo	$135,000	$98	50
510 S 15th St	0.38mi	2/1.5 (-1)	1,060 (-15%)	4mo	$76,000	$72	47
2304 Date St	0.73mi	3/2.0	1,180 (-5%)	7mo	$165,000	$140	47
101 Saunders	0.59mi	2/2.0 (-1)	1,148 (-8%)	5mo	$145,000	$126	46

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 · 3.73% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-638
• Equity at exit: $16,401

10-year hold

• IRR: 9.8%
• Equity multiple: 1.78×
• Total profit: $24,108
• Equity at exit: $9,510

Cash invested: $30,799 (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 40203

• Home prices YoY: -13.8%
• Rents YoY: 3.7%
• Active inventory: 114
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,213 high
• Mortgage (P&I): −$577
• Tax from tax record: −$80 /mo · $957/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $256

Break-even live

Break-even rent $889

Max offer price $109,995

Occupancy floor 74%

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: $27,499
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1810 Magazine St Louisville, KY	3.0	1.5	1248	$1,450	$1.16	10d	1	0.01mi
1700 Magazine St Unit 3 Louisville, KY	2.0	1.0	900	$1,150	$1.28	17d	1	0.12mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	16d	1	0.27mi
2221 W Madison St Louisville, KY	3.0	1.0	1000	$1,350	$1.35	24d	1	0.43mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	21d	1	0.43mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	24d	1	0.47mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	24d	1	0.54mi
1723 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	1200	$1,300	$1.08	24d	1	0.54mi
1612 W Market St Unit 2 Louisville, KY	2.0	2.0	900	$1,000	$1.11	24d	1	0.56mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	24d	1	0.57mi
1644 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	900	$950	$1.06	24d	1	0.58mi
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	3d	1	0.62mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	24d	1	0.65mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	24d	1	0.68mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	24d	1	0.72mi
1704 Rowan St Unit 1704-2 Louisville, KY	3.0	1.0	740	$850	$1.15	24d	1	0.73mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	24d	1	0.74mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	20d	1	0.75mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$928	$1.06	3d	4	0.78mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	24d	1	0.79mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	24d	1	0.81mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	17d	1	0.81mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	24d	1	0.81mi
2631 W Madison St Unit 1 Louisville, KY	3.0	1.0	928	$950	$1.02	24d	1	0.81mi
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	10d	1	0.82mi
2623 Cedar St Louisville, KY	3.0	1.0	1000	$1,000	$1.00	24d	1	0.85mi
980 W Liberty St Louisville, KY	1.0–3.0	1.0–1.5	1026	$1,535	$1.50	24d	133	0.86mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	16d	1	0.86mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	24d	1	0.88mi
500 N 17th St Unit 301 Louisville, KY	2.0	1.0	775	$1,200	$1.55	16d	1	0.89mi
500 N 17th St Apt 309 Louisville, KY	2.0	1.0	775	$1,200	$1.55	24d	1	0.89mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	24d	1	0.89mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	20d	1	0.90mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	24d	1	0.90mi
214 N 24th St Louisville, KY	3.0	1.5	1012	$915	$0.90	24d	1	0.94mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	24d	1	0.95mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	3d	1	0.96mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	3d	1	0.97mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	24d	1	0.97mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	24d	1	0.98mi

Listing history 16 events

1. 2026-06-18
   days on market $109,995 Active 297 DOM
2. 2026-06-17
   days on market $109,995 Active 296 DOM
3. 2026-06-16
   days on market $109,995 Active 295 DOM
4. 2026-06-15
   days on market $109,995 Active 294 DOM
5. 2026-06-13
   days on market $109,995 Active 292 DOM
6. 2026-06-10
   days on market $109,995 Active 289 DOM
7. 2026-06-09
   days on market $109,995 Active 288 DOM
8. 2026-06-08
   days on market $109,995 Active 287 DOM
9. 2026-06-07
   days on market $109,995 Active 286 DOM
10. 2026-06-03
    days on market $109,995 Active 282 DOM
11. 2026-06-02
    days on market $109,995 Active 281 DOM
12. 2026-06-01
    days on market $109,995 Active 280 DOM
13. 2026-05-31
    days on market $109,995 Active 279 DOM
14. 2026-03-04
    price $109,995
15. 2025-10-07
    price $110,000
16. 2025-08-25
    listed $120,000 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: $957 · $80/mo
• Projected year-2 tax: $957 · $80/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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: $14,558
• − Mortgage interest: −$6,161
• − Property taxes: −$957
• − Insurance: −$550
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$3,200
• Taxable income: $1,361
• Est. tax owed @ 24.0%: −$327
• After-tax cash flow: $2,746/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): 17,742
• Household income: $30,794
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 1603.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 49% White 44% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -64.74%
• Current HPI: 405.1872
• Rent YoY: ▲ 3.73%
• 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

-8.3% since first listed

3 events — show timeline

• 2026-03-04 Price Changed $109,995 Metro Search MLS
• 2025-10-07 Price Changed $110,000 Metro Search MLS
• 2025-08-25 Listed $120,000 Metro Search MLS

Property tax history

+29.0%/yr

Latest (2025): $957 · -1.9% YoY. Source: county tax records.