4225 Vermont Ave · Louisville, KY 40211

$54,900

2 bd · 2.0 ba · 896 sqft · SingleFamily · 23 Days on market

Built 1925 4,792 sqft lot Est $68k · 19% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Stripped down and ready for a fresh start, this fixer-upper offers the kind of blank canvas investors and renovators are always hunting for. The home has been emptied out and features a full unfinished walkout basement complete with a bathroom - opening the door for added living space, storage, a workshop, or whatever fits your vision. Upstairs, the attic loft area adds even more flexibility and could easily become a hobby room, office, bonus space, or additional sleeping area. And who doesn't love the gorgeous wood floors and tall ceilings throughout? Outside, the large flat backyard gives you room to expand, entertain, or completely reimagine the outdoor space. With solid potential and a

Key facts

• Attic loft area
• Large flat backyard
• 4,792 sq ft lot

Tags

• ATTIC LOFT AREA
• LARGE FLAT BACKYARD

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Electricity connected; Natural gas available
• Home design: Single-family bungalow; 2 stories; Built in 1925
• Construction: Vinyl siding, wood frame, and brick construction; Shingle roof; Concrete block and poured concrete foundation
• Exterior features: Privacy and partial fencing (wood and chain link); Sidewalks; Level lot

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms, both on the first floor; Primary bedroom on the first floor
• Bathrooms: 2 full bathrooms (one full bathroom located in the basement)
• Interior features: Basement with outside entry and walkout, unfinished; 5 total rooms (7 rooms listed); 2 closets
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.9% 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 fast (+4.9%/yr); 140 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).
• This rent runs 39% of the median local income ($32k/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 $380 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 + 4.9% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $41k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $54,076 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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: 1.86% ✓
• Cap rate: 15.88%
• Cash-on-cash: 34.25%
• DSCR: 2.52
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $68,096
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4215 W Muhammad Ali Blvd	0.08mi	2/1.0	1,006 (+12%)	10mo	$120,000	$119	64
3425 Vermont Ave	0.71mi	2/1.0	912 (+2%)	4mo	$36,500	$40	57
319 S 39th St	0.40mi	1/1.0 (-1)	864 (-4%)	16mo	$50,000	$58	53
3916 Vermont Ave	0.28mi	3/1.0 (+1)	960 (+7%)	22mo	$72,500	$76	48
3446 W Jefferson St	0.68mi	1/1.0 (-1)	874 (-2%)	11mo	$78,000	$89	46
817 S 41st St	0.68mi	2/1.0	955 (+7%)	16mo	$130,000	$136	40
3607 W Muhammad Ali Blvd	0.55mi	2/1.0	1,000 (+12%)	15mo	$45,850	$46	38
131 S 38th St	0.63mi	2/1.0	1,030 (+15%)	12mo	$81,000	$79	32
903 S 42nd St	0.73mi	1/1.0 (-1)	948 (+6%)	19mo	$68,000	$72	32
116 N 39 St	0.67mi	2/1.0	1,000 (+12%)	17mo	$65,000	$65	31
102 S 43rd St	0.55mi	2/1.0	1,025 (+14%)	20mo	$45,000	$44	30
104 N 40th St	0.62mi	2/1.0	768 (-14%)	21mo	$78,000	$102	26

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: 31.7%
• Equity multiple: 2.37×
• Total profit: $21,016
• Equity at exit: $8,186

10-year hold

• IRR: 39.9%
• Equity multiple: 5.08×
• Total profit: $62,674
• Equity at exit: $4,747

Cash invested: $15,372 (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 40211

• Home prices YoY: -33.4%
• Rents YoY: 4.9%
• Active inventory: 140
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,023 high
• Mortgage (P&I): −$288
• Tax from tax record: −$58 /mo · $699/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $439

Break-even live

Break-even rent $467

Max offer price $54,900

Occupancy floor 52%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4018 Vermont Ave Unit 1 Louisville, KY	2.0	1.0	700	$699	$1.00	3d	1	0.23mi
4309 Elliott Ave Unit 1 Louisville, KY	2.0	1.0	750	$695	$0.93	24d	1	0.25mi
4309 Elliott Ave Unit 1 Louisville, KY	2.0	1.0	750	$650	$0.87	3d	1	0.25mi
302 Cecil Ave Louisville, KY	2.0	1.0	984	$1,025	$1.04	16d	1	0.30mi
247 Cecil Ave Louisville, KY	3.0	2.0	1083	$1,305	$1.20	19d	1	0.35mi
3819 River Park Dr Louisville, KY	3.0	1.0	1108	$1,090	$0.98	20d	1	0.39mi
4141 W Market St Unit 1 Louisville, KY	2.0	1.0	771	$925	$1.20	3d	1	0.49mi
4143 W Market St Unit 2 Louisville, KY	2.0	1.0	700	$850	$1.21	24d	1	0.50mi
714 S 42nd St Louisville, KY	3.0	1.0	1078	$1,150	$1.07	16d	1	0.52mi
127 Boston Ct Louisville, KY	2.0	1.0	725	$1,100	$1.52	24d	1	0.53mi
714 S 40th St #2 Louisville, KY	3.0	1.0	1000	$1,250	$1.25	24d	1	0.56mi
648 S 37th St #3 Louisville, KY	2.0	1.0	807	$850	$1.05	24d	1	0.56mi
112 Boston Ct Louisville, KY	1.0	1.0	650	$800	$1.23	24d	1	0.57mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	24d	1	0.58mi
112 S 46th St Louisville, KY	3.0	1.0	902	$1,200	$1.33	24d	1	0.60mi
110 Hansbrough Pl Unit 101 Louisville, KY	2.0	1.0	924	$1,080	$1.17	24d	1	0.62mi
111 Hansbrough Pl Unit 101 Louisville, KY	1.0	1.0	686	$890	$1.30	24d	1	0.63mi
729 S 39th St Unit 1 Louisville, KY	2.0	1.0	800	$800	$1.00	24d	1	0.64mi
115 N 46th St Unit 2 Louisville, KY	1.0	1.0	650	$750	$1.15	24d	1	0.68mi
833 S 41st St Louisville, KY	3.0	2.0	786	$1,250	$1.59	24d	1	0.70mi
103 N 38th St Apt 4 Louisville, KY	1.0	1.0	625	$950	$1.52	17d	1	0.73mi
3421 River Park Dr Louisville, KY	3.0	1.0	994	$1,250	$1.26	24d	1	0.75mi
313 N 42nd St Louisville, KY	3.0	1.0	900	$1,250	$1.39	3d	1	0.77mi
823 S 38th St Louisville, KY	3.0	1.0	1100	$1,195	$1.09	3d	1	0.78mi
691 Madelon Ct Louisville, KY	1.0	1.0	650	$675	$1.04	12d	1	0.83mi
3416 W Main St Louisville, KY	1.0	1.0	667	$825	$1.24	24d	1	0.85mi
3901 Jewell Ave Louisville, KY	3.0	1.0	1069	$1,140	$1.07	20d	1	0.89mi
3910 Garfield Ave Louisville, KY	2.0	1.0	872	$1,035	$1.19	3d	1	0.91mi
219 N 37th St Louisville, KY	2.0	1.0	700	$1,150	$1.64	24d	1	0.92mi
320 N 36th St Louisville, KY	3.0	1.0	830	$1,225	$1.48	16d	1	0.95mi
666 Eastlawn Ave Louisville, KY	2.0	1.0	936	$895	$0.96	16d	1	0.98mi
4221 Sunset Ave Louisville, KY	3.0	1.0	1075	$1,199	$1.12	24d	1	0.99mi
3124 Vermont Ave Unit 3124-1 Louisville, KY	1.0	1.0	650	$695	$1.07	24d	1	1.01mi
3124 Vermont Ave Louisville, KY	1.0	1.0	650	$699	$1.08	24d	1	1.01mi
3515 W Kentucky St Unit 3515-12 Louisville, KY	1.0	1.0	700	$695	$0.99	24d	1	1.01mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	3d	1	1.03mi
701 Hazel St Unit 3 Louisville, KY	2.0	1.0	832	$800	$0.96	10d	1	1.09mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	3d	1	1.20mi
2927 Rowan St Louisville, KY	3.0	1.0	1008	$1,205	$1.20	12d	1	1.26mi
3122 W Kentucky St Louisville, KY	3.0	1.0	1030	$1,150	$1.12	24d	1	1.29mi

Listing history 23 events

1. 2026-06-18
   days on market $54,900 Active 23 DOM
2. 2026-06-17
   days on market $54,900 Active 22 DOM
3. 2026-06-16
   days on market $54,900 Active 21 DOM
4. 2026-06-15
   days on market $54,900 Active 20 DOM
5. 2026-06-13
   days on market $54,900 Active 18 DOM
6. 2026-06-10
   days on market $54,900 Active 15 DOM
7. 2026-06-09
   days on market $54,900 Active 14 DOM
8. 2026-06-08
   days on market $54,900 Active 13 DOM
9. 2026-06-07
   days on market $54,900 Active 12 DOM
10. 2026-06-03
    days on market $54,900 Active 8 DOM
11. 2026-06-02
    days on market $54,900 Active 7 DOM
12. 2026-06-01
    days on market $54,900 Active 6 DOM
13. 2026-05-31
    days on market $54,900 Active 5 DOM
14. 2026-05-24
    listed $54,900 Active
15. 2024-06-11
    historical
16. 2024-04-11
    listed $60,000 Active
17. 2022-02-28
    soldstatus $41,000
18. 2009-10-28
    historical
19. 2009-07-02
    historical
20. 2009-07-01
    listed $12,900
21. 2009-04-21
    listed $22,900
22. 2008-07-31
    historical
23. 2008-01-29
    listed $40,000

ⓘ 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: $699 · $58/mo
• Projected year-2 tax: $699 · $58/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 (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 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: $12,270
• − Mortgage interest: −$3,075
• − Property taxes: −$699
• − Insurance: −$274
• − Repairs & maintenance: −$982
• − Management: −$982
• − Depreciation: −$1,597
• Taxable income: $4,661
• Est. tax owed @ 24.0%: −$1,119
• After-tax cash flow: $4,146/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): 20,407
• Household income: $31,749
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 1483.0

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 (90%)
• Race & ethnicity: Black 90% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 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: ▼ -88.22%
• Current HPI: 176.337
• Rent YoY: ▲ 4.87%
• 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

+37.2% since first listed

10 events — show timeline

• 2026-05-24 Listed $54,900 Metro Search MLS
• 2024-06-11 Listing Removed — Metro Search MLS
• 2024-04-11 Listed $60,000 Metro Search MLS
• 2022-02-28 Sold (Public Records) $41,000 Public Records
• 2009-10-28 Listing Removed — Metro Search MLS
• 2009-07-02 Listing Removed — Metro Search MLS
• 2009-07-01 Listed $12,900 Metro Search MLS
• 2009-04-21 Listed $22,900 Metro Search MLS
• 2008-07-31 Listing Removed — Metro Search MLS
• 2008-01-29 Listed $40,000 Metro Search MLS

Property tax history

+0.8%/yr

Latest (2025): $699 · -1.9% YoY. Source: county tax records.