2307 Burwell Ave · Louisville, KY 40210

$145,000

3 bd · 1.5 ba · 1,420 sqft · SingleFamily · 40 Days on market

Built 1928 4,550 sqft lot Est $153k · 5% under

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Why this score? — see what drove the C 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 +15.5/30.0
• ARV discount +10.0/15.0
• Appreciation +10.0/10.0
• DSCR +4.8/10.0
• Rent growth +4.5/5.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Charming brick bungalow in the heart of Algonquin! This 3-bed, 1.5-bath home blends timeless character with modern potential. The inviting living room features a cozy gas fireplace, while the rear den provides extra space for lounging or a home office. Head downstairs to find an unfinished basement with a kitchenette and a toilet already installed (plumbed for a full bath)—perfect for a guest suite or future rental income. Enjoy the outdoors in your fully fenced yard with a covered patio, plus a detached 1.5-car garage with an attached carport. Located within walking distance to Algonquin Park's new waterpark and offering quick expressway access, this home is a gem for investors and o

Key facts

• Brick bungalow
• Kitchenette
• Unfinished basement

Tags

• BRICK BUNGALOW
• GAS FIREPLACE
• UNFINISHED BASEMENT
• KITCHENETTE
• FULLY FENCED YARD
• COVERED PATIO

Property features AI

Finance

• Other: Subdivision: SHADOWLAWN
• HOA & community: No association fee

Exterior

• Parking: Detached garage with space for 1 vehicle
• Utilities: Electricity connected
• Home design: Single-family residence in a bungalow style; Two-story home; Built in 1928
• Construction: Brick construction; Shingle roof; Poured concrete foundation
• Exterior features: Chain link fencing; Sidewalks; Level lot; Lot dimensions approximately 35 x 130

Interior

• Kitchen: First-floor kitchen; First-floor dining area
• Bedrooms: Three bedrooms total — one on the first floor and two on the second floor
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Seven total rooms; Seven closets; One fireplace (on first floor); Basement is unfinished with a walkout; Basement includes one closet; Living room on the first floor; Dining room on the first floor; Den on the first floor
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $59 ($708/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (15.7% below list).
• Recommended offer: $122k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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 (+8.1%/yr); 91 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 41% 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 $16k of equity ($1k loan paydown + $14k 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 + 8.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,177 (15.7% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.84% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.74%
• DSCR: 1.08
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $153,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1624 Hemlock Ct	0.41mi	3/1.0	1,376 (-3%)	2mo	$32,500	$24	72
1458 Olive St	0.35mi	2/2.0 (-1)	1,460 (+3%)	2mo	$90,000	$62	70
1415 S 28th St	0.48mi	3/2.0	1,384 (-2%)	2mo	$190,000	$137	70
2307 W Lee St	0.06mi	4/2.0 (+1)	1,600 (+13%)	4mo	$172,000	$108	66
1448 Catalpa St	0.48mi	4/1.5 (+1)	1,507 (+6%)	1mo	$199,000	$132	62
1334 Cypress St	0.56mi	3/2.0	1,491 (+5%)	2mo	$195,000	$131	62
1456 Beech St	0.58mi	3/1.5	1,498 (+6%)	2mo	$130,000	$87	62
2136 W Gaulbert Ave	0.12mi	4/1.5 (+1)	1,210 (-15%)	6mo	$92,000	$76	60
1736 W Gaulbert Ave	0.54mi	3/1.0	1,326 (-7%)	4mo	$53,600	$40	58
1752 Dixdale Ave	0.56mi	3/3.0	1,500 (+6%)	5mo	$189,000	$126	54
1544 Catalpa St	0.38mi	4/2.5 (+1)	1,596 (+12%)	1mo	$185,000	$116	52
1812 Wilson Ave	0.67mi	3/1.5	1,248 (-12%)	1mo	$135,000	$108	48

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 27.2%
• Equity multiple: 3.20×
• Total profit: $89,142
• Equity at exit: $130,627

10-year hold

• IRR: 25.1%
• Equity multiple: 7.79×
• Total profit: $275,472
• Equity at exit: $281,703

Cash invested: $40,600 (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: 91
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,222 high
• Mortgage (P&I): −$760
• Tax from tax record: −$85 /mo · $1,025/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $59

Break-even live

Break-even rent $1,147

Max offer price $145,000

Occupancy floor 90%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	16d	1	0.03mi
1545 Catalpa St Louisville, KY	4.0	1.5	1760	$1,545	$0.88	3d	1	0.35mi
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	23d	1	0.39mi
1410 Standard Village Cir Louisville, KY	3.0	2.0	1200	$900	$0.75	23d	1	0.42mi
2629 Olive St Louisville, KY	4.0	1.0	1120	$1,500	$1.34	23d	1	0.45mi
1774 Bolling Ave Louisville, KY	3.0	2.0	1611	$1,300	$0.81	10d	1	0.49mi
1622 Beech St Louisville, KY	4.0	1.0	1108	$1,445	$1.30	16d	1	0.50mi
2223 Saint Louis Ave Louisville, KY	3.0	1.5	1152	$1,175	$1.02	23d	1	0.56mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	23d	1	0.59mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	20d	1	0.60mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	23d	1	0.62mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	23d	1	0.63mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	21d	1	0.64mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	16d	1	0.69mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	23d	1	0.73mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	10d	1	0.76mi
2311 Plantation Dr Louisville, KY	3.0	1.0	988	$1,200	$1.21	16d	1	0.79mi
3313 Penway Ave Louisville, KY	4.0	2.0	1142	$1,645	$1.44	23d	1	0.81mi
1155 S 28th St Unit 4 Louisville, KY	4.0	2.0	1010	$1,350	$1.34	23d	1	0.82mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	23d	1	0.83mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	23d	1	0.83mi
1731 Sonne Ave Louisville, KY	3.0	1.0	1010	$1,300	$1.29	16d	1	0.95mi
3215 Virginia Ave Louisville, KY	3.0	1.0	975	$924	$0.95	23d	1	1.02mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	23d	1	1.03mi
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	10d	1	1.04mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	23d	1	1.06mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	23d	1	1.08mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	21d	1	1.08mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	16d	1	1.08mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	23d	1	1.09mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	23d	1	1.10mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	23d	1	1.10mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	23d	1	1.12mi
1145 Louis Coleman Jr Dr Louisville, KY	2.0	1.0	913	$875	$0.96	23d	1	1.12mi
1804 Russell Lee Dr Louisville, KY	1.0–3.0	1.0–1.5	810	$1,304	$1.61	1d	1	1.14mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	23d	1	1.16mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	23d	1	1.16mi
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	3d	1	1.17mi
1244 Algonquin Pkwy Louisville, KY	3.0	1.5	1136	$1,400	$1.23	23d	1	1.20mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	23d	1	1.20mi

Listing history 15 events

1. 2026-06-18
   days on market $145,000 Active 40 DOM
2. 2026-06-17
   days on market $145,000 Active 39 DOM
3. 2026-06-16
   days on market $145,000 Active 38 DOM
4. 2026-06-15
   days on market $145,000 Active 37 DOM
5. 2026-06-13
   days on market $145,000 Active 35 DOM
6. 2026-06-10
   days on market $145,000 Active 32 DOM
7. 2026-06-09
   days on market $145,000 Active 31 DOM
8. 2026-06-08
   days on market $145,000 Active 30 DOM
9. 2026-06-07
   days on market $145,000 Active 29 DOM
10. 2026-06-03
    days on market $145,000 Active 25 DOM
11. 2026-06-02
    days on market $145,000 Active 24 DOM
12. 2026-06-01
    days on market $145,000 Active 23 DOM
13. 2026-05-31
    days on market $145,000 Active 22 DOM
14. 2026-05-13
    price $145,000
15. 2026-05-05
    listed $130,000 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: $1,025 · $85/mo
• Projected year-2 tax: $1,247 · $104/mo
• Expected delta: +$222/yr (+$18/mo · 21.6%)

ⓘ 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 · 19 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: $14,661
• − Mortgage interest: −$8,122
• − Property taxes: −$1,025
• − Insurance: −$725
• − Repairs & maintenance: −$1,173
• − Management: −$1,173
• − Depreciation: −$4,218
• Taxable loss: −$1,775
• Est. tax savings @ 24.0%: +$426
• After-tax cash flow: $1,134/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

+11.5% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $145,000 Metro Search MLS
• 2026-05-05 Listed $130,000 Metro Search MLS

Property tax history

+20.4%/yr

Latest (2025): $1,025 · -1.9% YoY. Source: county tax records.