2410 Garrs Ln · Shively, KY 40216

$179,999

3 bd · 1.5 ba · 1,349 sqft · SingleFamily · 129 Days on market

Built 1958 9,831 sqft lot Est $216k · 17% 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).

• Cash flow +15.2/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2410 Garrs Lane. You will love this original one-owner, 3 bedroom, 1 1/2 bath Bedford stone home located in the city of Shively. The kitchen was updated a few years ago w/cherry cabinetry, white countertops and white appls which will remain. Formal living room is spacious and has a large picture window providing much natural light and beautiful fireplace. The basement is ready for you to refinish with great space, a fireplace and has been professionally waterproofed by B-Dry. This home also features a separate bldg which was used for a woodworking shop, could be great for any hobbyist. An additional small parcel of land is included n the sale which the owner used for his garden. Enjoy spring & summer days sitting on the glassed in front porch. Don't wait, this is a great value!!

Key facts

• 9,831 sq ft lot
• Parking
• Built 1958

Property features AI

Finance

• Other: Located in the HEATHERFIELDS subdivision
• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected
• Home design: Single-family ranch-style home; One story
• Construction: Built in 1958; Stone construction; Shingle roof; Poured concrete foundation
• Exterior features: No additional exterior features listed

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 3 bedrooms, all on the first floor; Primary bedroom on the first floor
• Bathrooms: 1 full bathroom on the first floor; 1 half bathroom on the first floor
• Heating & cooling: Natural gas heat; Central air conditioning; 1 HVAC unit
• Interior features: 7 total rooms; 5 closets; 2 fireplaces (one on main level, one in basement); Basement (unfinished)
• Laundry & utility: Laundry room in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $61 ($737/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 $152k (15.8% below list).
• Recommended offer: $152k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 5.3% in Shively — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 78/100 on livability (#78 in KY, #2,520 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, employment D, amenities 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: Gutermuth Elementary (math 2% / reading 17%, grade F, #648 of 676 statewide, top 98%, 373 students, 78% FRL); Frederick Law Olmsted Academy South (math 3% / reading 24%, grade F, #213 of 217 statewide, top 98%, 578 students, 75% FRL); Western High (math 2% / reading 12%, grade F, #248 of 254 statewide, top 98%, 869 students, 77% FRL) — zoned schools average 77% FRL vs 56% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 27% district-wide (-17 pts) — the specific schools serving this property underperform the Jefferson County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 210 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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 129 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $151,638 (15.8% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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. Crime grade is D 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?
6. 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?
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: 0.84% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.46%
• DSCR: 1.07
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $215,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4313 Dover Rd	0.25mi	3/2.0	1,255 (-7%)	2mo	$194,000	$155	73
2509 Guelat Ave	0.45mi	3/1.5	1,304 (-3%)	3mo	$225,500	$173	71
4600 Kiefer Rd	0.58mi	3/1.0	1,342 (-0%)	0mo	$200,000	$149	70
2116 Middle Ln	0.60mi	4/2.0 (+1)	1,344 (-0%)	6mo	$236,000	$176	59
2413 Donna Rd	0.48mi	3/1.0	1,224 (-9%)	6mo	$100,000	$82	55
2430 Donna Rd	0.53mi	4/2.0 (+1)	1,248 (-8%)	3mo	$230,000	$184	54
3130 Northland Dr	0.63mi	3/2.0	1,232 (-9%)	3mo	$172,000	$140	52
2317 Burrell Dr	0.60mi	3/1.5	1,161 (-14%)	1mo	$220,000	$189	48
4622 Kiefer Rd	0.72mi	4/1.0 (+1)	1,243 (-8%)	6mo	$207,500	$167	42
4435 Savage Dr	0.55mi	3/1.0	1,550 (+15%)	8mo	$235,000	$152	41
4340 Charlotte Ann Dr	0.68mi	3/1.0	1,500 (+11%)	8mo	$240,000	$160	41
4625 Dohn Rd	0.73mi	4/1.0 (+1)	1,243 (-8%)	8mo	$184,000	$148	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 · 0.57% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.43×
• Total profit: $-28,921
• Equity at exit: $26,838

10-year hold

• IRR: -13.0%
• Equity multiple: 0.32×
• Total profit: $-34,473
• Equity at exit: $15,563

Cash invested: $50,400 (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 40216

• Rents YoY: 0.6%
• Active inventory: 210
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,516 high
• Mortgage (P&I): −$944
• Tax from tax record: −$118 /mo · $1,412/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $61

Break-even live

Break-even rent $1,439

Max offer price $179,999

Occupancy floor 91%

Sensitivity live

Price	-10% $163	-5% $112	+0% $61	+5% $10	+10% $-41
Rent	-10% $-58	-5% $1	+0% $61	+5% $121	+10% $181
Rate	-1.0pp $152	-0.5pp $107	base $61	+0.5pp $15	+1.0pp $-33

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4203 Searcy Dr Louisville, KY	3.0	2.0	980	$1,550	$1.58	17d	1	0.09mi
4403 Savage Dr Louisville, KY	4.0	2.0	1325	$2,065	$1.56	25d	1	0.38mi
4330 Bayberry Dr Louisville, KY	3.0	1.0	1134	$1,395	$1.23	25d	1	0.48mi
4414 Tara Gale Ct Louisville, KY	3.0	1.5	1000	$1,450	$1.45	5d	1	0.79mi
3401 Shanks Ln Louisville, KY	1.0–2.0	1.0	875	$1,079	$1.23	3d	3	0.82mi
1840 Kendall Ln Apt 25 Louisville, KY	2.0	1.0	952	$1,250	$1.31	25d	1	0.87mi
3222 Patricia Dr Louisville, KY	3.0	1.0	936	$1,590	$1.70	3d	1	0.97mi
2008 Foxhurst Dr Louisville, KY	3.0	1.5	1600	$1,875	$1.17	25d	1	0.99mi
3700 Oboe Dr Louisville, KY	3.0	1.0	1000	$1,400	$1.40	16d	1	0.99mi
2304 Rockford Ln Louisville, KY	3.0	1.5	1400	$1,620	$1.16	25d	1	1.02mi
4319 Sanders Ln Louisville, KY	2.0	1.0	950	$925	$0.97	5d	1	1.07mi
4406 Clarene Dr Louisville, KY	3.0	1.0	1053	$1,400	$1.33	17d	1	1.13mi
4700 Walnut Grove Ave Unit 1 Louisville, KY	2.0	1.0	900	$799	$0.89	25d	1	1.23mi
1632 Stafford Ave Louisville, KY	3.0	1.0	1152	$1,450	$1.26	17d	1	1.37mi
1602 Clover St Louisville, KY	2.0	1.5	867	$1,060	$1.22	3d	5	1.43mi

Listing history 22 events

1. 2026-06-21
   days on market $179,999 Active 129 DOM
2. 2026-06-18
   days on market $179,999 Active 126 DOM
3. 2026-06-17
   days on market $179,999 Active 125 DOM
4. 2026-06-16
   days on market $179,999 Active 124 DOM
5. 2026-06-15
   days on market $179,999 Active 123 DOM
6. 2026-06-13
   days on market $179,999 Active 121 DOM
7. 2026-06-10
   days on market $179,999 Active 118 DOM
8. 2026-06-09
   days on market $179,999 Active 117 DOM
9. 2026-06-08
   days on market $179,999 Active 116 DOM
10. 2026-06-07
    days on market $179,999 Active 115 DOM
11. 2026-06-03
    days on market $179,999 Active 111 DOM
12. 2026-06-02
    days on market $179,999 Active 110 DOM
13. 2026-06-01
    days on market $179,999 Active 109 DOM
14. 2026-05-31
    days on market $179,999 Active 108 DOM
15. 2026-04-28
    price $179,999
16. 2026-04-23
    status Active
17. 2026-04-15
    historical Active Under Contract
18. 2026-02-12
    listed $194,999 Active
19. 2022-03-17
    price $1,400
20. 2022-01-26
    soldstatus $150,000 Closed 804-char remark

    Show marketing remark (804 chars)

    Welcome to 2410 Garrs Lane. You will love this original one-owner, 3 bedroom, 1 1/2 bath Bedford stone home located in the city of Shively. The kitchen was updated a few years ago w/cherry cabinetry, white countertops and white appls which will remain. Formal living room is spacious and has a large picture window providing much natural light and beautiful fireplace. The basement is ready for you to refinish with great space, a fireplace and has been professionally waterproofed by B-Dry. This home also features a separate bldg which was used for a woodworking shop, could be great for any hobbyist. An additional small parcel of land is included n the sale which the owner used for his garden. Enjoy spring & summer days sitting on the glassed in front porch. Don't wait, this is a great value!!

21. 2022-01-13
    historical Active Under Contract 804-char remark

    Show marketing remark (804 chars)

    Welcome to 2410 Garrs Lane. You will love this original one-owner, 3 bedroom, 1 1/2 bath Bedford stone home located in the city of Shively. The kitchen was updated a few years ago w/cherry cabinetry, white countertops and white appls which will remain. Formal living room is spacious and has a large picture window providing much natural light and beautiful fireplace. The basement is ready for you to refinish with great space, a fireplace and has been professionally waterproofed by B-Dry. This home also features a separate bldg which was used for a woodworking shop, could be great for any hobbyist. An additional small parcel of land is included n the sale which the owner used for his garden. Enjoy spring & summer days sitting on the glassed in front porch. Don't wait, this is a great value!!

22. 2022-01-11
    listed $149,900 Active 804-char remark

    Show marketing remark (804 chars)

    Welcome to 2410 Garrs Lane. You will love this original one-owner, 3 bedroom, 1 1/2 bath Bedford stone home located in the city of Shively. The kitchen was updated a few years ago w/cherry cabinetry, white countertops and white appls which will remain. Formal living room is spacious and has a large picture window providing much natural light and beautiful fireplace. The basement is ready for you to refinish with great space, a fireplace and has been professionally waterproofed by B-Dry. This home also features a separate bldg which was used for a woodworking shop, could be great for any hobbyist. An additional small parcel of land is included n the sale which the owner used for his garden. Enjoy spring & summer days sitting on the glassed in front porch. Don't wait, this is a great value!!

ⓘ 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: $1,412 · $118/mo
• Projected year-2 tax: $1,548 · $129/mo
• Expected delta: +$136/yr (+$11/mo · 9.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $18,197
• − Mortgage interest: −$10,083
• − Property taxes: −$1,412
• − Insurance: −$900
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$5,236
• Taxable loss: −$2,345
• Est. tax savings @ 24.0%: +$563
• After-tax cash flow: $1,299/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 — Shively

• Score: 78/100
• State rank: #78
• US rank: #2520

Category grades

Amenities F Commute A+ Cost of living A+ Crime D Employment D Housing A+ Health & safety A- User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shively, KY
• County: Jefferson County · 790,184 people
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 44,047
• Household income: $56,441
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 1434.0

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 0.60)
• Race & ethnicity: Black 45% White 43% Hispanic / Latino 6% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 7% French/Haitian/Cajun 1% 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: ▼ -234.72%
• Current HPI: 269.5447
• Rent YoY: ▲ 0.57%
• 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

+20.1% since first listed

8 events — show timeline

• 2026-04-28 Price Changed $179,999 Metro Search MLS
• 2026-04-23 Relisted — Metro Search MLS
• 2026-04-15 Contingent — Metro Search MLS
• 2026-02-12 Listed $194,999 Metro Search MLS
• 2022-03-17 Price Changed $1,400 RENT.
• 2022-01-26 Sold (MLS) $150,000 Metro Search MLS
• 2022-01-13 Contingent — Metro Search MLS
• 2022-01-11 Listed $149,900 Metro Search MLS

Property tax history

+7.8%/yr

Latest (2025): $1,412 · -2.5% YoY. Source: county tax records.