8337 Grand Trevi Dr · Louisville/Jefferson County metro government (balance), KY 40228

$220,000

3 bd · 2.5 ba · 1,620 sqft · Condo · 39 Days on market

Built 2003 $23/mo HOA · 1% of rent

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Why this score? — see what drove the D 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 +14.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this beautiful spacious unit with hard wood flooring on first level and a tiled flooring in kitchen. Granite kitchen countertops, & modern pendant lighting. All appliances to remain except the freezer in the garage. Plenty of closet storage. Fabric curtains will not remain. There is a separate electric circuit line installed in the garage. Relax on the cozy fully closed in deck and patio off dining area. Camera installed on garage and ring doorbell to remain. There is a community Gazebo with two grills. Close to public shopping. HVAC & WH are less then 6 years old

Key facts

• Tiled flooring
• Fully closed in deck
• Hard wood flooring

Tags

• HARD WOOD FLOORING
• TILED FLOORING
• GRANITE KITCHEN COUNTERTOPS
• MODERN PENDANT LIGHTING
• PLENTY OF CLOSET STORAGE
• FULLY CLOSED IN DECK

Property features AI

Finance

• Other: Building has 51 units and 2 building floors; Building number 8337
• HOA & community: HOA/association fee applies (monthly); Association fee covers exterior maintenance, groundskeeping, snow removal, trash, and water; Pets allowed per restrictions; Community: THE FOUNTAINS; 51 condo units in the building; Laundry located in unit

Exterior

• Parking: Attached garage with entry on the side; Two garage spaces (garage parking)
• Utilities: Electricity connected
• Home design: Condominium (residential); Corner unit; Architectural style: Other; One-story building unit (building has 2 floors overall)
• Construction: Built in 2003; Wood frame construction; Shingle roof; Poured concrete foundation
• Exterior features: See remarks (additional exterior details available in listing remarks)

Interior

• Kitchen: Kitchen on the first floor; First-floor breakfast room
• Bedrooms: Three bedrooms total; Primary bedroom on the second floor; Additional bedrooms located on the second floor
• Bathrooms: Two full bathrooms; One half bathroom; Primary bathroom on the second floor; Half bathroom on the first floor; Other full bathroom on the second floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Seven total rooms; Five closets; No basement; Corner location in the building
• Laundry & utility: Laundry room on the first floor; In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $60 ($714/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 $185k (15.8% below list).
• Recommended offer: $185k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.0% in Louisville/Jefferson County metro government (balance) — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: Bates Elementary (math 14% / reading 38%, grade F, #473 of 676 statewide, top 70%, 568 students, 46% FRL).
• Market conditions: 97 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 23y 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 $150k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $185,267 (15.8% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-31,903
• Equity at exit: $32,803

10-year hold

• IRR: -5.8%
• Equity multiple: 0.63×
• Total profit: $-23,077
• Equity at exit: $19,022

Cash invested: $61,600 (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 40228

• Active inventory: 97
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,853 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$136 /mo · $1,629/yr
• Insurance: −$92
• HOA: −$23
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $60

Break-even live

Break-even rent $1,777

Max offer price $220,000

Occupancy floor 92%

Sensitivity live

Price	-10% $184	-5% $122	+0% $60	+5% $-3	+10% $-65
Rent	-10% $-87	-5% $-14	+0% $60	+5% $133	+10% $206
Rate	-1.0pp $170	-0.5pp $115	base $60	+0.5pp $2	+1.0pp $-55

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8217 Zelma Fields Ave Louisville, KY	4.0	1.5	1644	$1,795	$1.09	25d	1	0.43mi
7400 Snow Bend Ave Louisville, KY	1.0–3.0	1.0–2.0	1074	$1,846	$1.72	3d	11	0.48mi
8509 Gainsborough Dr Louisville, KY	3.0	2.0	1764	$2,130	$1.21	21d	1	0.73mi
8409 Damascus Cir Louisville, KY	3.0	2.0	1140	$1,600	$1.40	17d	1	0.76mi
8308 Damascus Cir Louisville, KY	2.0	1.5	1175	$1,185	$1.01	17d	1	0.76mi
7715 Oakfields Pointe Rd Louisville, KY	1.0–2.0	1.0–2.0	1073	$1,469	$1.37	3d	11	0.79mi
6600 Outer Loop Unit 66 Louisville, KY	3.0	1.5	1080	$1,389	$1.29	25d	1	1.03mi
6600 Outer Loop Louisville, KY	1.0–3.0	1.0–1.5	872	$1,509	$1.73	5d	1	1.13mi
9041 Black Powder Ln Louisville, KY	3.0	2.0	1650	$1,799	$1.09	25d	1	1.16mi
6605 Vandre Ave Louisville, KY	3.0	2.0	1100	$1,775	$1.61	25d	1	1.25mi
8317 Daverman Dr Louisville, KY	4.0	2.0	1929	$2,100	$1.09	25d	1	1.36mi
8808 Fernview Dr Louisville, KY	3.0	1.0	1107	$1,655	$1.50	22d	1	1.40mi

HOA detail condo

• Monthly dues: $23 · $276/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-01
   status $220,000 Pending 39 DOM
2. 2026-05-31
   days on market $220,000 Active 39 DOM
3. 2026-05-11
   price $220,000 590-char remark

   Show marketing remark (590 chars)

   Come see this beautiful spacious unit with hard wood flooring on first level and a tiled flooring in kitchen. Granite kitchen countertops, & modern pendant lighting. All appliances to remain except the freezer in the garage. Plenty of closet storage. Fabric curtains will not remain. There is a separate electric circuit line installed in the garage. Relax on the cozy fully closed in deck and patio off dining area. Camera installed on garage and ring doorbell to remain. There is a community Gazebo with two grills. Close to public shopping. HVAC & WH are less then 6 years old

4. 2026-05-11
   price $220,000

   Show marketing remark (590 chars)

   Come see this beautiful spacious unit with hard wood flooring on first level and a tiled flooring in kitchen. Granite kitchen countertops, & modern pendant lighting. All appliances to remain except the freezer in the garage. Plenty of closet storage. Fabric curtains will not remain. There is a separate electric circuit line installed in the garage. Relax on the cozy fully closed in deck and patio off dining area. Camera installed on garage and ring doorbell to remain. There is a community Gazebo with two grills. Close to public shopping. HVAC & WH are less then 6 years old

5. 2026-04-21
   listed $226,000 Active 590-char remark

   Show marketing remark (590 chars)

   Come see this beautiful spacious unit with hard wood flooring on first level and a tiled flooring in kitchen. Granite kitchen countertops, & modern pendant lighting. All appliances to remain except the freezer in the garage. Plenty of closet storage. Fabric curtains will not remain. There is a separate electric circuit line installed in the garage. Relax on the cozy fully closed in deck and patio off dining area. Camera installed on garage and ring doorbell to remain. There is a community Gazebo with two grills. Close to public shopping. HVAC & WH are less then 6 years old

6. 2026-04-21
   listed $226,000 Active

   Show marketing remark (590 chars)

   Come see this beautiful spacious unit with hard wood flooring on first level and a tiled flooring in kitchen. Granite kitchen countertops, & modern pendant lighting. All appliances to remain except the freezer in the garage. Plenty of closet storage. Fabric curtains will not remain. There is a separate electric circuit line installed in the garage. Relax on the cozy fully closed in deck and patio off dining area. Camera installed on garage and ring doorbell to remain. There is a community Gazebo with two grills. Close to public shopping. HVAC & WH are less then 6 years old

7. 2020-05-28
   soldstatus $150,000
8. 2020-05-26
   soldstatus $150,000 Closed 750-char remark

   Show marketing remark (750 chars)

   ***MOVE IN READY** Describes this Gorgeous Condo. Beautiful Hardwood Flooring in the Living Room and Ceramic in Kitchen for Easy Clean Up. Spacious Living Room and Huge Eat In Kitchen. Large Windows Bring in an Abundance of Sunlight. Kitchen Offers Stainless Steel Appliances with Beautiful Granite Counter Tops, and Updated Pendant Lighting. Sliding Glass Doors Leads You to a Relaxing Deck and Patio Offering Privacy and Beautiful Mature Landscape to Entertain or just Enjoy the Evening After a Long Day at Work. There are 3 Bedrooms and 2 Full Baths Upstairs and a Half Bath on the First Floor. 2 Car Attached Garage Adds More Comfort to Keep You out of the Elements. Don't Let this Gorgeous Condo Get Away. Call Today For Your Private Showing.

9. 2020-04-21
   status Pending 750-char remark

   Show marketing remark (750 chars)

   ***MOVE IN READY** Describes this Gorgeous Condo. Beautiful Hardwood Flooring in the Living Room and Ceramic in Kitchen for Easy Clean Up. Spacious Living Room and Huge Eat In Kitchen. Large Windows Bring in an Abundance of Sunlight. Kitchen Offers Stainless Steel Appliances with Beautiful Granite Counter Tops, and Updated Pendant Lighting. Sliding Glass Doors Leads You to a Relaxing Deck and Patio Offering Privacy and Beautiful Mature Landscape to Entertain or just Enjoy the Evening After a Long Day at Work. There are 3 Bedrooms and 2 Full Baths Upstairs and a Half Bath on the First Floor. 2 Car Attached Garage Adds More Comfort to Keep You out of the Elements. Don't Let this Gorgeous Condo Get Away. Call Today For Your Private Showing.

10. 2020-04-16
    listed $150,000 Active 750-char remark

    Show marketing remark (750 chars)

    ***MOVE IN READY** Describes this Gorgeous Condo. Beautiful Hardwood Flooring in the Living Room and Ceramic in Kitchen for Easy Clean Up. Spacious Living Room and Huge Eat In Kitchen. Large Windows Bring in an Abundance of Sunlight. Kitchen Offers Stainless Steel Appliances with Beautiful Granite Counter Tops, and Updated Pendant Lighting. Sliding Glass Doors Leads You to a Relaxing Deck and Patio Offering Privacy and Beautiful Mature Landscape to Entertain or just Enjoy the Evening After a Long Day at Work. There are 3 Bedrooms and 2 Full Baths Upstairs and a Half Bath on the First Floor. 2 Car Attached Garage Adds More Comfort to Keep You out of the Elements. Don't Let this Gorgeous Condo Get Away. Call Today For Your Private Showing.

11. 2018-06-13
    soldstatus $135,000
12. 2018-06-12
    soldstatus $135,000 Closed
13. 2018-05-02
    status Pending
14. 2018-04-30
    listed $130,000 Active
15. 2016-10-10
    soldstatus $114,000
16. 2016-10-07
    soldstatus $114,000 Closed
17. 2016-09-06
    status Pending
18. 2016-08-17
    listed $120,000 Active
19. 2016-08-15
    historical
20. 2016-07-14
    status Active
21. 2016-07-06
    status Pending
22. 2016-06-28
    listed $121,000 Active
23. 2014-12-31
    historical
24. 2014-06-02
    listed $108,000
25. 2013-10-31
    historical
26. 2013-04-04
    listed $111,900
27. 2006-09-11
    soldstatus $117,900
28. 2003-12-11
    soldstatus $114,924
29. 2003-06-24
    listed $112,900

ⓘ 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: $1,629 · $136/mo
• Projected year-2 tax: $1,892 · $158/mo
• Expected delta: +$263/yr (+$22/mo · 16.2%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,232
• − Mortgage interest: −$12,323
• − Property taxes: −$1,629
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,779
• − Management: −$1,779
• − HOA: −$276
• − Depreciation: −$6,400
• Taxable loss: −$3,053
• Est. tax savings @ 24.0%: +$733
• After-tax cash flow: $1,447/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/Jefferson County metro government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Louisville/Jefferson County metro government (balance), KY
• County: Jefferson County · 790,184 people
• City population: 419,741
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 18,085
• Household income: $79,404
• Rent vs Own: 22.8% rent · 77.2% own
• Severe rent burden: 95.0

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 White (65%)
• Race & ethnicity: White 65% Black 16% Two or more races 14% Hispanic / Latino 11% Asian 1%
• Hispanic origin (detail): Mexican 1% Cuban 7%
• Common ancestry: Italian 2% Lithuanian 2% Swiss 1%
• Foreign-born: 14% · Canada
• Languages at home: 84% English-only · Spanish 9% Arabic 1% Other Asian/Pacific 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: ▼ -215.41%
• Current HPI: 238.4061
• 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

+94.9% since first listed

27 events — show timeline

• 2026-05-11 Price Changed $220,000 HKARMLS
• 2026-05-11 Price Changed $220,000 Metro Search MLS
• 2026-04-21 Listed $226,000 Metro Search MLS
• 2026-04-21 Listed $226,000 HKARMLS
• 2020-05-28 Sold (Public Records) $150,000 Public Records
• 2020-05-26 Sold (MLS) $150,000 Metro Search MLS
• 2020-04-21 Pending — Metro Search MLS
• 2020-04-16 Listed $150,000 Metro Search MLS
• 2018-06-13 Sold (Public Records) $135,000 Public Records
• 2018-06-12 Sold (MLS) $135,000 Metro Search MLS
• 2018-05-02 Pending — Metro Search MLS
• 2018-04-30 Listed $130,000 Metro Search MLS
• 2016-10-10 Sold (Public Records) $114,000 Public Records
• 2016-10-07 Sold (MLS) $114,000 Metro Search MLS
• 2016-09-06 Pending — Metro Search MLS
• 2016-08-17 Listed $120,000 Metro Search MLS
• 2016-08-15 Listing Removed — Metro Search MLS
• 2016-07-14 Relisted — Metro Search MLS
• 2016-07-06 Pending — Metro Search MLS
• 2016-06-28 Listed $121,000 Metro Search MLS
• 2014-12-31 Listing Removed — Metro Search MLS
• 2014-06-02 Listed $108,000 Metro Search MLS
• 2013-10-31 Listing Removed — Metro Search MLS
• 2013-04-04 Listed $111,900 Metro Search MLS
• 2006-09-11 Sold (Public Records) $117,900 Public Records
• 2003-12-11 Sold (MLS) $114,924 Metro Search MLS
• 2003-06-24 Listed $112,900 Metro Search MLS

Property tax history

+2.5%/yr

Latest (2025): $1,629 · +37.2% YoY. Source: county tax records.