2230 W Main St · Louisville, KY 40212

$80,000

3 bd · 1.5 ba · 1,612 sqft · SingleFamily · 71 Days on market

Built 1900 3,084 sqft lot Est $105k · 24% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

Attention investors! This 3 bedroom, 1.5 bath home with a fenced in yard was previously updated and has lots of potential. The electric panel, wiring, and plumbing are all newer and the home previously passed a Section 8 inspection. The living room has a fireplace with built ins on either side. There is a primary bedroom on the first floor and 2 bedrooms and a half bath upstairs. The home sits on a corner lot and has a fenced in front and back yard. There is some work that will need to be done to get mechanicals up and running as well as some minor cosmetic work. This location allows for easy access to I-64 as well as downtown and the bus route. Schedule a showing today!

Key facts

• Newer electric panel
• Newer plumbing
• Newer wiring

Tags

• FENCED IN YARD
• NEWER ELECTRIC PANEL
• NEWER WIRING
• NEWER PLUMBING
• FIREPLACE WITH BUILT INS
• CORNER LOT

Property features AI

Finance

• Other: Located at the corner of W Main St and S 23rd St (directions available)
• HOA & community: No association fee

Exterior

• Utilities: Utilities listed as other
• Home design: Traditional single-family home; 2 stories
• Construction: Built in 1900; Vinyl siding; Shingle roof; Poured concrete foundation
• Exterior features: Full chain link fencing

Interior

• Kitchen: Kitchen on first floor
• Bedrooms: 3 bedrooms total (1 on first floor, 2 on second floor)
• Bathrooms: 1 full bathroom; 1 half bathroom; Half bath located on second floor; Full bath located on first floor
• Interior features: 8 total rooms; 9 closets; Unfinished cellar basement; Basement present; First-floor primary bedroom; First-floor laundry
• Laundry & utility: Laundry on first floor

🏷️ Possibly a rental listed for sale. The $80,000 price doesn't fit this home's estimated sale value (~$104,780) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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 flat; 140 active listings in the ZIP; 35 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 43% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($553 loan paydown + $8k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.61% ✓
• Cap rate: 13.75%
• Cash-on-cash: 26.64%
• DSCR: 2.19
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $104,780
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2429 Griffiths Ave	0.43mi	3/2.0	1,645 (+2%)	4mo	$90,000	$55	72
2333 Duncan St	0.23mi	3/1.0	1,480 (-8%)	5mo	$83,750	$57	69
218 S 25th St	0.23mi	3/2.0	1,523 (-6%)	10mo	$130,000	$85	69
320 N 18th St	0.51mi	3/2.0	1,508 (-6%)	1mo	$147,900	$98	63
315 N 27th St	0.58mi	3/1.0	1,540 (-4%)	3mo	$100,000	$65	61
207 N 19th St	0.39mi	3/1.0	1,464 (-9%)	7mo	$60,000	$41	59
2010 W Market St	0.25mi	3/2.0	1,376 (-15%)	4mo	$135,000	$98	58
2024 Portland Ave	0.62mi	3/1.0	1,518 (-6%)	5mo	$83,750	$55	55
2715 W Market St	0.41mi	4/2.0 (+1)	1,735 (+8%)	8mo	$139,000	$80	54
2409 Griffiths Ave	0.41mi	3/1.5	1,374 (-15%)	6mo	$37,000	$27	51
2616 Duncan St	0.42mi	2/1.0 (-1)	1,440 (-11%)	7mo	$48,000	$33	50
1825 W Muhammad Ali Blvd	0.51mi	3/2.5	1,817 (+13%)	6mo	$195,000	$107	46

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: 43.0%
• Equity multiple: 4.22×
• Total profit: $72,089
• Equity at exit: $72,070

10-year hold

• IRR: 36.2%
• Equity multiple: 9.11×
• Total profit: $181,618
• Equity at exit: $155,422

Cash invested: $22,400 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,289 high
• Mortgage (P&I): −$420
• Tax from tax record: −$68 /mo · $819/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $497

Break-even live

Break-even rent $660

Max offer price $80,000

Occupancy floor 56%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	24d	1	0.21mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	24d	1	0.23mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	24d	1	0.26mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	24d	1	0.27mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	24d	1	0.36mi
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	16d	1	0.36mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	3d	1	0.42mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	16d	1	0.59mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	24d	1	0.62mi
1810 Magazine St Louisville, KY	3.0	1.5	1248	$1,450	$1.16	10d	1	0.76mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	3d	4	0.83mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	24d	1	1.03mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	24d	1	1.04mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	17d	1	1.08mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	24d	1	1.13mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	20d	1	1.17mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	24d	1	1.17mi
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	3d	1	1.23mi
980 W Liberty St Louisville, KY	1.0–3.0	1.0–1.5	1026	$1,535	$1.50	24d	133	1.24mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	24d	1	1.24mi
1723 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	1200	$1,300	$1.08	24d	1	1.26mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	3d	1	1.31mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	24d	1	1.31mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	24d	1	1.37mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	3d	1	1.38mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	24d	1	1.38mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	24d	1	1.39mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	24d	1	1.39mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	16d	1	1.44mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	24d	1	1.45mi
3901 Jewell Ave Louisville, KY	3.0	1.0	1069	$1,140	$1.07	20d	1	1.47mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	3d	1	1.47mi
106 N 40th St Louisville, KY	3.0	1.0	1325	$1,220	$0.92	3d	1	1.49mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	24d	1	1.50mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	16d	1	1.50mi

Listing history 18 events

1. 2026-06-18
   days on market $80,000 Active 71 DOM
2. 2026-06-17
   days on market $80,000 Active 70 DOM
3. 2026-06-16
   days on market $80,000 Active 69 DOM
4. 2026-06-15
   days on market $80,000 Active 68 DOM
5. 2026-06-13
   days on market $80,000 Active 66 DOM
6. 2026-06-10
   days on market $80,000 Active 63 DOM
7. 2026-06-09
   days on market $80,000 Active 62 DOM
8. 2026-06-08
   days on market $80,000 Active 61 DOM
9. 2026-06-07
   days on market $80,000 Active 60 DOM
10. 2026-06-03
    pricedays on market $80,000 Active 56 DOM
11. 2026-06-02
    days on market $85,000 Active 55 DOM
12. 2026-06-01
    days on market $85,000 Active 54 DOM
13. 2026-05-31
    days on market $85,000 Active 53 DOM
14. 2026-05-20
    price $85,000
15. 2026-04-20
    price $99,000
16. 2026-04-08
    listed $110,000 Active
17. 2024-01-16
    soldstatus $91,708
18. 2016-09-12
    soldstatus $27,500

ⓘ 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: $819 · $68/mo
• Projected year-2 tax: $819 · $68/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 5/10 Major FEMA zone X (unshaded) · 66% 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: $15,469
• − Mortgage interest: −$4,481
• − Property taxes: −$819
• − Insurance: −$400
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − Depreciation: −$2,327
• Taxable income: $4,966
• Est. tax owed @ 24.0%: −$1,192
• After-tax cash flow: $4,775/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

+209.1% since first listed

5 events — show timeline

• 2026-05-20 Price Changed $85,000 Metro Search MLS
• 2026-04-20 Price Changed $99,000 Metro Search MLS
• 2026-04-08 Listed $110,000 Metro Search MLS
• 2024-01-16 Sold (Public Records) $91,708 Public Records
• 2016-09-12 Sold (Public Records) $27,500 Public Records

Property tax history

+4.9%/yr

Latest (2025): $819 · +17.9% YoY. Source: county tax records.