1216 Seelbach Ave · Louisville, KY 40215

$150,000

3 bd · 2.0 ba · 1,213 sqft · SingleFamily · 5 Days on market

Built 2011 7,610 sqft lot Est $178k · 16% under

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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).

• ARV discount +14.6/15.0
• Cash flow +13.0/30.0
• DSCR +3.9/10.0
• Rent growth +3.8/5.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Nestled just minutes from Churchill Downs, this charming 3-bedroom, 2-bath home offers the perfect blend of comfort, convenience, and location. Whether you're looking for your next home or an investment opportunity, you'll love being close to one of Louisville's most iconic destinations, home of the Kentucky Derby and year-round entertainment. Inside, enjoy a functional layout with comfortable living spaces. Outside, the property offers room to relax, entertain, or personalize to your style. Conveniently located near parks, dining, shopping, and expressways, this home puts the best of Louisville right at your doorstep. Don't miss your chance to own near all the excitement and tradition of C

Key facts

• Near dining
• Near shopping
• Near parks

Tags

• NEAR PARKS
• NEAR DINING
• NEAR SHOPPING
• NEAR EXPRESSWAYS

Property features AI

Finance

• Other: Located in the Alhambra Heights subdivision; Located in Jefferson County

Exterior

• Utilities: Public sewer
• Home design: Single-family property; 1,213 total building area
• Construction: Vinyl siding; Slab foundation
• Exterior features: Public water; Not on waterfront

Interior

• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Tile flooring; No fireplace; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-9 ($-110/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (14.9% below list).
• Recommended offer: $128k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 5.0% in Louisville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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+, crime F.
• 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: Hazelwood Elementary (math 2% / reading 8%, grade F, #670 of 676 statewide, top 100%, 511 students, 73% FRL); Noe Middle (math 49% / reading 62%, grade B-, #7 of 217 statewide, top 3%, 1,347 students, 46% FRL); Iroquois High (math 12% / reading 8%, grade F, #245 of 254 statewide, top 97%, 1,090 students, 74% FRL).
• Market conditions: Rents rising fast (+5.2%/yr); 118 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 35% of the median local income ($44k/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 $1k of loan paydown is wiped out by about $4k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

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 $127,635 (14.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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 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: 0.85% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $178,311
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4024 Parthenia Ave	0.66mi	3/2.0	1,232 (+2%)	4mo	$156,999	$127	64
4623 Picadilly Ave	0.39mi	2/1.0 (-1)	1,277 (+5%)	2mo	$195,000	$153	63
3611 Woodruff Ave	0.45mi	3/1.0	1,125 (-7%)	1mo	$175,000	$156	62
3670 Woodruff Ave	0.34mi	3/1.0	1,102 (-9%)	4mo	$159,500	$145	62
3533 Kahlert Ave	0.57mi	2/1.0 (-1)	1,231 (+2%)	3mo	$148,000	$120	59
3535 Kahlert Ave	0.57mi	4/1.0 (+1)	1,150 (-5%)	4mo	$175,000	$152	52
1522 Alma Ave	0.65mi	3/2.0	1,344 (+11%)	1mo	$215,000	$160	51
1431 Berry Blvd	0.71mi	2/1.0 (-1)	1,184 (-2%)	4mo	$155,000	$131	51
1416 Berry Blvd	0.66mi	2/1.0 (-1)	1,154 (-5%)	3mo	$142,500	$123	50
548 Camden Ave	0.70mi	3/1.0	1,100 (-9%)	2mo	$180,000	$164	46
4020 Parthenia Ave	0.65mi	3/2.0	1,033 (-15%)	4mo	$142,500	$138	41
618 W Southern Heights Ave	0.56mi	2/1.0 (-1)	1,036 (-15%)	5mo	$152,500	$147	36

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 · 5.16% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.48×
• Total profit: $-22,049
• Equity at exit: $22,365

10-year hold

• IRR: -2.5%
• Equity multiple: 0.82×
• Total profit: $-7,767
• Equity at exit: $12,969

Cash invested: $42,000 (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 40215

• Home prices YoY: -34.4%
• Rents YoY: 5.2%
• Active inventory: 118
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,276 high
• Mortgage (P&I): −$787
• Tax from tax record: −$168 /mo · $2,020/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-9

Break-even live

Break-even rent $1,288

Max offer price $148,382

Occupancy floor 96%

Sensitivity live

Price	-10% $76	-5% $33	+0% $-9	+5% $-52	+10% $-94
Rent	-10% $-110	-5% $-60	+0% $-9	+5% $41	+10% $92
Rate	-1.0pp $66	-0.5pp $29	base $-9	+0.5pp $-48	+1.0pp $-88

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1022 Stanley Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	23d	1	0.17mi
4046 Taylor Blvd Unit 2 Louisville, KY	2.0	1.0	800	$900	$1.12	25d	1	0.27mi
3746 Kahlert Ave Louisville, KY	3.0	1.0	955	$1,350	$1.41	18d	1	0.34mi
1105 Beecher St Louisville, KY	2.0	1.0	708	$1,150	$1.62	18d	1	0.36mi
1118 W Whitney Ave Louisville, KY	2.0	1.0	771	$1,199	$1.56	25d	1	0.43mi
3717 Wheeler Ave Louisville, KY	3.0	2.0	1124	$1,450	$1.29	25d	1	0.43mi
3655 Kahlert Ave Louisville, KY	2.0	1.0	915	$1,300	$1.42	14d	1	0.46mi
3655 Kahlert Ave Louisville, KY	2.0	1.0	915	$1,300	$1.42	0d	1	0.46mi
900 Beecher St Louisville, KY	2.0	1.0	1000	$1,300	$1.30	0d	1	0.51mi
4122 Craig Ave Louisville, KY	2.0	1.0	705	$1,051	$1.49	14d	1	0.53mi
4000 Churchman Ave Louisville, KY	3.0	1.0	1000	$1,200	$1.20	18d	1	0.56mi
4113 La Salle Ave Louisville, KY	2.0	1.0	875	$1,249	$1.43	18d	1	0.57mi
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	14d	1	0.58mi
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	4d	1	0.58mi
540 Beecher St Louisville, KY	3.0	1.0	960	$1,125	$1.17	0d	1	0.69mi
3627 Parthenia Ave Louisville, KY	3.0	1.0	900	$1,245	$1.38	25d	1	0.71mi
3700 Georgetown Pl Louisville, KY	2.0	1.0	800	$901	$1.13	25d	1	0.72mi
3700 Georgetown Pl Unit 2302-201 Louisville, KY	2.0	1.0	800	$901	$1.13	14d	1	0.72mi
4600 Southern Pkwy Unit PARKWAYE1 Louisville, KY	2.0	1.0	700	$749	$1.07	0d	1	0.77mi
4626 Southern Pkwy Louisville, KY	1.0–2.0	1.0	809	$895	$1.11	16d	3	0.79mi
1411 Sale Ave Louisville, KY	2.0	1.0	936	$1,000	$1.07	18d	1	0.80mi
4725 Southern Pkwy Unit 1 Louisville, KY	2.0	1.0	1296	$925	$0.71	5d	1	0.81mi
3523 Georgetown Pl #3 Louisville, KY	2.0	1.0	850	$850	$1.00	19d	1	0.82mi
4133 S 5th St Louisville, KY	4.0	1.0	1200	$1,435	$1.20	18d	1	0.84mi
3449 Powell Ave Louisville, KY	2.0	1.0	800	$1,000	$1.25	25d	1	0.84mi
3513 Georgetown Pl Unit 3 Louisville, KY	2.0	1.0	800	$949	$1.19	25d	1	0.86mi
551 Denmark St Louisville, KY	3.0	1.5	1160	$1,700	$1.47	25d	1	0.86mi
1517 Shingo Ave Louisville, KY	3.0	2.0	1100	$1,349	$1.23	25d	1	0.88mi
4608 S 3rd St Unit 1st Floor Louisville, KY	2.0	1.5	1100	$1,500	$1.36	25d	1	0.89mi
1709 Valley Forge Way Unit 2 Louisville, KY	2.0	1.0	750	$895	$1.19	23d	1	0.91mi
1711 Valley Forge Way Unit 4 Louisville, KY	2.0	1.0	900	$949	$1.05	0d	1	0.92mi
1711 Valley Forge Way Unit 4 Louisville, KY	2.0	1.0	900	$949	$1.05	12d	1	0.92mi
1522 Clara Ave Louisville, KY	3.0	2.0	1150	$1,150	$1.00	0d	1	0.93mi
1522 Clara Ave Louisville, KY	3.0	2.0	1150	$1,150	$1.00	25d	1	0.93mi
1507 Arling Ave Louisville, KY	3.0	2.0	1148	$1,275	$1.11	18d	1	0.93mi
3524 Georgetown Cir Louisville, KY	1.0–3.0	1.0	684	$1,350	$1.97	16d	4	0.94mi
3524 Georgetown Cir Unit 3530 Louisville, KY	3.0	1.0	886	$1,350	$1.52	5d	1	0.94mi
3524 Georgetown Cir Louisville, KY	1.0–3.0	1.0	684	$1,350	$1.97	25d	2	0.94mi
3524 Georgetown Cir Louisville, KY	2.0	1.0	734	$1,050	$1.43	5d	1	0.94mi
623 Dresden Ave Louisville, KY	2.0	1.0	750	$975	$1.30	18d	1	0.94mi

Listing history 10 events

1. 2026-06-10
   status $150,000 Pending 5 DOM
2. 2026-06-09
   days on market $150,000 Active 5 DOM
3. 2026-06-08
   days on market $150,000 Active 4 DOM
4. 2026-06-07
   remarks 699-char remark
5. 2026-06-07
   days on marketlisting id $150,000 Active 3 DOM
6. 2026-06-03
   days on market $150,000 Active 22 DOM
7. 2026-06-02
   days on market $150,000 Active 21 DOM
8. 2026-06-01
   days on market $150,000 Active 20 DOM
9. 2026-05-31
   days on market $150,000 Active 19 DOM
10. 2026-05-12
    listed $150,000 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: $2,020 · $168/mo
• Projected year-2 tax: $2,020 · $168/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,316
• − Mortgage interest: −$8,402
• − Property taxes: −$2,020
• − Insurance: −$750
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$4,364
• Taxable loss: −$2,671
• Est. tax savings @ 24.0%: +$641
• After-tax cash flow: $531/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): 20,532
• Household income: $43,725
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 997.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 51% Black 33% Two or more races 11% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Slovak 1% Romanian 1% Serbian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -119.35%
• Current HPI: 227.8248
• Rent YoY: ▲ 5.16%
• 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

2 events — show timeline

• 2026-06-09 Pending — ImagineMLS
• 2026-06-04 Listed $150,000 ImagineMLS

Property tax history

+4.1%/yr

Latest (2025): $2,020 · +108.9% YoY. Source: county tax records.