715 S 32nd St · Louisville, KY 40211

$79,000

4 bd · 2.0 ba · 1,674 sqft · SingleFamily · 10 Days on market

Built 1917 6,050 sqft lot

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property sold in as is condition, loan letter or verification of funds if cash, min. $1,000.00 deposit, seller disclosures and lead base disclosure with all offers. AGENTS DO NOT SEND ANY OFFERS WITHOUT THE ABOVE INFORMATION! AGENTS DO NOT GIVE LOCK BOX CODE OUT TO ANY OF YOUR BUYERS!

Key facts

• 6,050 sq ft lot
• Built 1917
• Listed 9 days

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Electricity connected
• Home design: Single-family bungalow; Two stories; Built in 1917
• Construction: Wood frame and brick construction; Shingle roof; Crawl space and concrete block foundation
• Exterior features: Chain link fencing; Lot under 1/4 acre (approximately 0.14 acres)

Interior

• Kitchen: Eat-in kitchen on the first floor; Kitchen on the first floor
• Bedrooms: Four bedrooms total; Primary bedroom on the first floor; Two additional bedrooms on the second floor; Two bedrooms on the first floor
• Bathrooms: Two full bathrooms; One full bathroom located in the basement
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Partially finished basement; Seven main rooms (nine total rooms listed); Basement includes a full bathroom
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Cap rate 15.8% 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 (+4.9%/yr); 144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1,455/mo this rent would consume 55% of the median local household income ($32k/yr) (locally 1483% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y 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 $18k; list at $79k implies a 349% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — 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 $79,000

Questions for the listing agent

1. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.84% ✓
• Cap rate: 15.83%
• Cash-on-cash: 34.07%
• DSCR: 2.52
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $159,030
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
824 S 36th St	0.34mi	4/2.0	1,568 (-6%)	5mo	$120,000	$77	70
714 Dearborn Ave	0.47mi	3/2.0 (-1)	1,631 (-3%)	1mo	$110,000	$67	68
816 Dearborn Ave	0.49mi	3/2.0 (-1)	1,628 (-3%)	2mo	$63,500	$39	66
718 S 36th St	0.31mi	4/2.0	1,836 (+10%)	7mo	$175,000	$95	64
2532 Garland Ave	0.65mi	4/2.5	1,720 (+3%)	8mo	$159,000	$92	57
633 S 36th St	0.40mi	4/1.5	1,478 (-12%)	7mo	$150,000	$101	54
624 S 39th St	0.69mi	4/2.5	1,596 (-5%)	5mo	$180,000	$113	54
817 S 36th St	0.31mi	3/2.0 (-1)	1,447 (-14%)	7mo	$144,000	$100	52
634 S 38th St	0.61mi	4/2.0	1,500 (-10%)	5mo	$165,000	$110	50
3502 Hale Ave	0.69mi	4/2.0	1,798 (+7%)	9mo	$85,000	$47	48
3712 W Kentucky St	0.61mi	4/3.0	1,877 (+12%)	2mo	$215,000	$115	46
2530 W Kentucky St	0.70mi	3/2.0 (-1)	1,900 (+14%)	1mo	$145,900	$77	39

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: 31.5%
• Equity multiple: 2.36×
• Total profit: $29,993
• Equity at exit: $11,779

10-year hold

• IRR: 39.6%
• Equity multiple: 5.05×
• Total profit: $89,538
• Equity at exit: $6,830

Cash invested: $22,120 (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 40211

• Home prices YoY: -33.4%
• Rents YoY: 4.9%
• Active inventory: 144
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,455 high
• Mortgage (P&I): −$414
• Tax from tax record: −$74 /mo · $888/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $628

Break-even live

Break-even rent $660

Max offer price $79,000

Occupancy floor 52%

Sensitivity live

Price	-10% $673	-5% $650	+0% $628	+5% $606	+10% $583
Rent	-10% $513	-5% $571	+0% $628	+5% $685	+10% $743
Rate	-1.0pp $668	-0.5pp $648	base $628	+0.5pp $608	+1.0pp $587

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	25d	1	0.12mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	4d	1	0.17mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	4d	1	0.18mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	25d	1	0.27mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	17d	1	0.50mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	25d	1	0.50mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	25d	1	0.50mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	25d	1	0.51mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	25d	1	0.53mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	25d	1	0.53mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	21d	1	0.53mi
823 S 38th St Louisville, KY	3.0	1.0	1100	$1,195	$1.09	4d	1	0.56mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	22d	1	0.58mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	25d	1	0.58mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	25d	1	0.62mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	17d	1	0.62mi
3514 Grand Ave Louisville, KY	3.0	1.5	1450	$1,295	$0.89	22d	1	0.64mi
3909 W Broadway Louisville, KY	5.0	2.0	2000	$1,745	$0.87	17d	1	0.68mi
628 S 39th St Louisville, KY	3.0	1.0	1448	$1,220	$0.84	17d	1	0.70mi
3819 River Park Dr Louisville, KY	3.0	1.0	1108	$1,090	$0.98	21d	1	0.71mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	25d	1	0.71mi
722 S 40th St Unit NA Louisville, KY	4.0	2.5	1556	$1,700	$1.09	4d	1	0.72mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	25d	1	0.78mi
836 S 41st St Louisville, KY	3.0	1.0	1300	$1,300	$1.00	20d	1	0.81mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	12d	1	0.82mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	25d	1	0.83mi
858 S 23rd St Louisville, KY	5.0	1.0	2228	$2,100	$0.94	18d	1	0.83mi
803 Cecil Ave Louisville, KY	4.0	1.0	1165	$1,449	$1.24	12d	1	0.85mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	25d	1	0.86mi
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	17d	1	0.91mi
714 S 42nd St Louisville, KY	3.0	1.0	1078	$1,150	$1.07	17d	1	0.95mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	21d	1	0.98mi
4129 W Muhammad Ali Blvd Louisville, KY	4.0	2.0	1224	$1,500	$1.23	3d	1	1.05mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	25d	1	1.06mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	25d	1	1.06mi
247 Cecil Ave Louisville, KY	3.0	2.0	1083	$1,305	$1.20	20d	1	1.10mi
205 N 26th St Louisville, KY	5.0	2.0	1538	$1,700	$1.11	25d	1	1.12mi
4221 Sunset Ave Louisville, KY	3.0	1.0	1075	$1,199	$1.12	25d	1	1.14mi
4220 Sunset Ave Louisville, KY	5.0	1.5	1464	$1,950	$1.33	3d	1	1.14mi
212 N 25th St Louisville, KY	3.0	1.0	1104	$895	$0.81	25d	1	1.19mi

Listing history 7 events

1. 2026-06-21
   days on market $79,000 Active 10 DOM
2. 2026-06-18
   days on market $79,000 Active 7 DOM
3. 2026-06-17
   days on market $79,000 Active 6 DOM
4. 2026-06-16
   days on market $79,000 Active 5 DOM
5. 2026-06-15
   days on market $79,000 Active 4 DOM
6. 2026-06-13
   remarks 269-char remark
7. 2026-06-13
   listed $79,000 Active 2 DOM

ⓘ 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: $888 · $74/mo
• Projected year-2 tax: $888 · $74/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 (shaded) · 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,457
• − Mortgage interest: −$4,425
• − Property taxes: −$888
• − Insurance: −$395
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − Depreciation: −$2,298
• Taxable income: $6,657
• Est. tax owed @ 24.0%: −$1,598
• After-tax cash flow: $5,939/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): 20,407
• Household income: $31,749
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 1483.0

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 (90%)
• Race & ethnicity: Black 90% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 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: ▼ -88.22%
• Current HPI: 176.337
• Rent YoY: ▲ 4.87%
• 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

+139.4% since first listed

5 events — show timeline

• 2026-06-12 Listed $79,000 Metro Search MLS
• 2008-12-24 Sold (MLS) $17,600 Metro Search MLS
• 2008-09-08 Listed $18,000 Metro Search MLS
• 2008-08-18 Listing Removed — Metro Search MLS
• 2008-06-08 Listed $33,000 Metro Search MLS

Property tax history

+7.7%/yr

Latest (2025): $888 · -1.9% YoY. Source: county tax records.