2237 W Jefferson St · Louisville, KY 40212

$69,000

4 bd · 2.0 ba · 1,696 sqft · SingleFamily · 224 Days on market

Built 1885 4,356 sqft lot Est $97k · 29% under ↓ 39% since listing

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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

Discover this attractive 1885 traditional two-story home, now available in the heart of the vibrant Russell neighborhood. With classic architectural details and a spacious layout, this property invites you to bring your creative vision and restore it to its former glory. Features & Highlights • Large kitchen—perfect for gatherings and culinary creativity • Four spacious bedrooms • Two full bathrooms • Traditional two-story layout Location Situated on Jefferson Street in a comfortable, welcoming area, this home offers easy access to all the amenities of downtown Louisville. Enjoy proximity to local shops, restaurants, parks, and community attractions, ma

Key facts

• Large kitchen
• Spacious layout
• 4,356 sq ft lot

Tags

• LARGE KITCHEN
• SPACIOUS LAYOUT
• EASY ACCESS TO AMENITIES
• PROXIMITY TO LOCAL SHOPS
• COMMUNITY ATTRACTIONS

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Electricity connected; Natural gas available
• Home design: Single-family residence; Traditional style; 2 stories; Built in 1885
• Construction: Wood frame construction; Shingle roof; Built in 1885
• Exterior features: Chain link fencing; Sidewalks; Level lot

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 4 bedrooms total; 1 bedroom on the first floor; 3 bedrooms on the second floor
• Bathrooms: 2 full bathrooms; Full bathrooms located on the first and second floors
• Heating & cooling: Natural gas heating
• Interior features: 7 rooms total; 2 fireplaces; Foyer; Cellar basement; 2 closets
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.8% 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; 38 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 $1,402/mo this rent would consume 47% of the median local household income ($36k/yr) (locally 1148% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $7k of equity ($477 loan paydown + $7k 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 $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 224 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1885 — 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 $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 224 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1885 — 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: 2.03% ✓
• Cap rate: 17.82%
• Cash-on-cash: 41.18%
• DSCR: 2.83
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $96,672
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2715 W Market St	0.41mi	4/2.0	1,735 (+2%)	8mo	$139,000	$80	70
218 S 25th St	0.19mi	3/2.0 (-1)	1,523 (-10%)	10mo	$130,000	$85	60
2429 Griffiths Ave	0.58mi	3/2.0 (-1)	1,645 (-3%)	4mo	$90,000	$55	60
2219 W Madison St	0.27mi	3/2.0 (-1)	1,922 (+13%)	3mo	$22,000	$11	58
1825 W Muhammad Ali Blvd	0.43mi	3/2.5 (-1)	1,817 (+7%)	6mo	$195,000	$107	56
2529 W Jefferson St	0.25mi	3/2.0 (-1)	1,496 (-12%)	11mo	$28,500	$19	54
2010 St Xavier St	0.58mi	4/1.5	1,780 (+5%)	11mo	$75,000	$42	53
2333 Duncan St	0.38mi	3/1.0 (-1)	1,480 (-13%)	5mo	$83,750	$57	48
320 N 18th St	0.62mi	3/2.0 (-1)	1,508 (-11%)	1mo	$147,900	$98	47
315 N 27th St	0.70mi	3/1.0 (-1)	1,540 (-9%)	3mo	$100,000	$65	41
207 N 19th St	0.48mi	3/1.0 (-1)	1,464 (-14%)	7mo	$60,000	$41	40
2523 Saint Xavier St	0.71mi	4/1.0	1,894 (+12%)	9mo	$30,000	$16	36

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: 54.5%
• Equity multiple: 4.95×
• Total profit: $76,383
• Equity at exit: $62,161

10-year hold

• IRR: 47.1%
• Equity multiple: 10.60×
• Total profit: $185,460
• Equity at exit: $134,052

Cash invested: $19,320 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,402 high
• Mortgage (P&I): −$362
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $663

Break-even live

Break-even rent $562

Max offer price $69,000

Occupancy floor 48%

Sensitivity live

Price	-10% $702	-5% $683	+0% $663	+5% $644	+10% $624
Rent	-10% $552	-5% $608	+0% $663	+5% $718	+10% $774
Rate	-1.0pp $698	-0.5pp $681	base $663	+0.5pp $645	+1.0pp $627

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	24d	1	0.21mi
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	16d	1	0.22mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	24d	1	0.22mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	24d	1	0.28mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	24d	1	0.32mi
120 N 20th St Louisville, KY	3.0	1.5	1300	$1,400	$1.08	24d	1	0.36mi
205 N 26th St Louisville, KY	5.0	2.0	1538	$1,700	$1.11	24d	1	0.37mi
409 N 20th St Louisville, KY	3.0	1.0	1200	$1,050	$0.88	4d	1	0.56mi
1810 Magazine St Louisville, KY	3.0	1.5	1248	$1,450	$1.16	11d	1	0.67mi
1919 Baird St Louisville, KY	3.0	1.0	1500	$1,100	$0.73	16d	1	0.73mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	24d	1	0.89mi
858 S 23rd St Louisville, KY	5.0	1.0	2228	$2,100	$0.94	17d	1	0.91mi
2506 Montgomery St Louisville, KY	3.0	2.0	1081	$1,295	$1.20	4d	4	0.96mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	24d	1	0.98mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	24d	1	1.02mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	21d	1	1.02mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	24d	1	1.10mi
1723 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	1200	$1,300	$1.08	24d	1	1.14mi
2906 Montgomery St Unit B Louisville, KY	3.0	1.0	1152	$1,060	$0.92	24d	1	1.15mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	3d	1	1.17mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	24d	1	1.18mi
652 N 29th St Louisville, KY	3.0	1.0	1127	$1,350	$1.20	17d	1	1.20mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	24d	1	1.22mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	24d	1	1.24mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	24d	1	1.24mi
980 W Liberty St Louisville, KY	1.0–3.0	1.0–1.5	1026	$1,535	$1.50	24d	133	1.25mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	4d	1	1.25mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	16d	1	1.29mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	24d	1	1.33mi
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	11d	1	1.39mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	24d	1	1.40mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	24d	1	1.40mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	24d	1	1.40mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	16d	1	1.41mi
3819 River Park Dr Louisville, KY	3.0	1.0	1108	$1,090	$0.98	21d	1	1.43mi
127 N 40th St Louisville, KY	3.0	2.0	1500	$1,570	$1.05	4d	1	1.46mi
106 N 40th St Louisville, KY	3.0	1.0	1325	$1,220	$0.92	4d	1	1.48mi
3901 Jewell Ave Louisville, KY	3.0	1.0	1069	$1,140	$1.07	21d	1	1.48mi

Listing history 19 events

1. 2026-06-18
   days on market $69,000 Active 224 DOM
2. 2026-06-17
   days on market $69,000 Active 223 DOM
3. 2026-06-16
   days on market $69,000 Active 222 DOM
4. 2026-06-15
   days on market $69,000 Active 221 DOM
5. 2026-06-13
   days on market $69,000 Active 219 DOM
6. 2026-06-10
   days on market $69,000 Active 216 DOM
7. 2026-06-09
   days on market $69,000 Active 215 DOM
8. 2026-06-08
   days on market $69,000 Active 214 DOM
9. 2026-06-07
   days on market $69,000 Active 213 DOM
10. 2026-06-03
    days on market $69,000 Active 209 DOM
11. 2026-06-02
    days on market $69,000 Active 208 DOM
12. 2026-06-01
    days on market $69,000 Active 207 DOM
13. 2026-05-31
    days on market $69,000 Active 206 DOM
14. 2026-05-13
    price $69,000
15. 2026-05-04
    price $74,000
16. 2026-03-26
    price $75,000
17. 2026-01-19
    price $80,000
18. 2025-12-10
    price $85,000
19. 2025-11-05
    listed $113,000 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: $644 · $54/mo
• Projected year-2 tax: $644 · $54/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: $16,820
• − Mortgage interest: −$3,865
• − Property taxes: −$644
• − Insurance: −$345
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − Depreciation: −$2,007
• Taxable income: $7,267
• Est. tax owed @ 24.0%: −$1,744
• After-tax cash flow: $6,212/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

-38.9% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $69,000 Metro Search MLS
• 2026-05-04 Price Changed $74,000 Metro Search MLS
• 2026-03-26 Price Changed $75,000 Metro Search MLS
• 2026-01-19 Price Changed $80,000 Metro Search MLS
• 2025-12-10 Price Changed $85,000 Metro Search MLS
• 2025-11-05 Listed $113,000 Metro Search MLS

Property tax history

+3.1%/yr

Latest (2025): $644 · -1.9% YoY. Source: county tax records.