1300 Morgan Ave · Louisville, KY 40213

$75,000

3 bd · 2.0 ba · 2,306 sqft · SingleFamily · 2 Days on market

Built 1928 0.42 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks in the heart of Louisville, KY! Situated in a highly convenient location near shopping, dining, schools, and easy interstate access, this property offers incredible potential for the right buyer. This home is a rehab project and is ready for a transformation. Whether you're an investor looking for your next flip, a landlord building your rental portfolio, or a buyer eager to create a custom space from the ground up, this property provides a blank canvas to bring your vision to life. The lot offers solid value in an established area with strong resale and rental potential; the upside is clear for those willing to put in the work. Reach out today for more information or to

Key facts

• Near schools
• Near dining
• Near shopping

Tags

• HIGHLY CONVENIENT LOCATION
• NEAR SHOPPING
• NEAR DINING
• NEAR SCHOOLS
• EASY INTERSTATE ACCESS
• REHAB PROJECT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $890 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 20.5% 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: 47 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• This rent runs 39% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1928 — 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 $75,000

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.44% ✓
• Cap rate: 20.53%
• Cash-on-cash: 50.84%
• DSCR: 3.26
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $329,758
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1237 Springdale Dr	0.16mi	3/2.0	2,100 (-9%)	14mo	$273,500	$130	66
1433 Indiana Ave	0.35mi	3/1.5	2,181 (-5%)	11mo	$288,500	$132	64
1207 Wolfe Ave	0.37mi	4/1.5 (+1)	2,279 (-1%)	12mo	$340,000	$149	63
1234 Wolfe Ave	0.29mi	4/2.0 (+1)	2,208 (-4%)	18mo	$316,000	$143	60
931 Dove Lawn	0.71mi	3/1.5	2,291 (-1%)	10mo	$290,000	$127	56
3407 Fayette Ave	0.51mi	2/3.0 (-1)	2,031 (-12%)	6mo	$330,000	$162	43
1229 Larue Ave	0.38mi	3/3.0	2,570 (+11%)	23mo	$285,000	$111	40
3254 Cross Bill Rd	0.69mi	3/2.0	2,046 (-11%)	23mo	$380,000	$186	30
3242 Cross Bill Rd	0.71mi	4/2.5 (+1)	1,994 (-14%)	23mo	$382,500	$192	18

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 48.7%
• Equity multiple: 3.12×
• Total profit: $44,560
• Equity at exit: $11,183

10-year hold

• IRR: 54.2%
• Equity multiple: 6.33×
• Total profit: $111,968
• Equity at exit: $6,485

Cash invested: $21,000 (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 40213

• Active inventory: 47
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,828 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$130 /mo · $1,559/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $890

Break-even live

Break-even rent $702

Max offer price $75,000

Occupancy floor 46%

Sensitivity live

Price	-10% $932	-5% $911	+0% $890	+5% $868	+10% $847
Rent	-10% $745	-5% $817	+0% $890	+5% $962	+10% $1,034
Rate	-1.0pp $927	-0.5pp $909	base $890	+0.5pp $870	+1.0pp $850

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1209 Valley Dr Louisville, KY	3.0	2.0	2853	$2,200	$0.77	17d	1	0.77mi

Listing history 2 events

1. 2026-02-23
   status Pending
2. 2026-02-20
   listed $75,000 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: $1,559 · $130/mo
• Projected year-2 tax: $1,559 · $130/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 ≥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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,936
• − Mortgage interest: −$4,201
• − Property taxes: −$1,559
• − Insurance: −$375
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − Depreciation: −$2,182
• Taxable income: $10,110
• Est. tax owed @ 24.0%: −$2,426
• After-tax cash flow: $8,250/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): 16,054
• Household income: $55,897
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 706.0

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 0.57)
• Race & ethnicity: White 60% Black 19% Hispanic / Latino 19% Two or more races 12%
• Hispanic origin (detail): Mexican 6% Cuban 11%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 16% French/Haitian/Cajun 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: ▼ -153.39%
• Current HPI: 244.8465
• Rent YoY: —
• 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

2 events — show timeline

• 2026-02-23 Pending — Metro Search MLS
• 2026-02-20 Listed $75,000 Metro Search MLS

Property tax history

+2.6%/yr

Latest (2025): $1,559 · -4.0% YoY. Source: county tax records.