2240 Grand Ave · Louisville, KY 40210

$73,495

3 bd · 1.0 ba · 1,090 sqft · SingleFamily · 40 Days on market

Built 1915 4,047 sqft lot Est $78k · 6% under

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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 +10.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Key facts

• 4,047 sq ft lot
• Built 1915
• Listed 40 days

Property features AI

Finance

• Other: Directions: Broadway to 22nd St to Grand Ave
• HOA & community: No association fee

Exterior

• Utilities: Electricity connected
• Home design: Single-family shotgun-style home; 1 story
• Construction: Built in 1915; Vinyl siding exterior; Shingle roof; Approximately 1,090 above-grade finished area with about 750 below-grade unfinished area
• Exterior features: Lot dimensions approximately 30 x 135

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: 3 bedrooms with primary bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Unfinished basement; Total of 1 room listed; Basement present
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $73k.

Deal economics

• At list price, monthly cash flow is $462 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $71k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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 (+8.1%/yr); 91 active listings in the ZIP; 40 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).
• This rent runs 41% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $8k of equity ($508 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 + 8.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: built in 1915 — 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 $71,290 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.64% ✓
• Cap rate: 13.84%
• Cash-on-cash: 26.96%
• DSCR: 2.20
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $78,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2615 Greenwood Ave	0.28mi	3/1.0	988 (-9%)	3mo	$71,000	$72	69
2316 Greenwood Ave	0.10mi	2/1.0 (-1)	1,228 (+13%)	3mo	$80,000	$65	67
848 S 23rd St	0.35mi	3/2.0	1,029 (-6%)	6mo	$64,750	$63	65
1712 Saint Louis Ave	0.61mi	2/1.0 (-1)	1,072 (-2%)	4mo	$45,000	$42	60
101 Saunders	0.38mi	2/2.0 (-1)	1,148 (+5%)	5mo	$145,000	$126	60
1601 Prentice St	0.62mi	3/1.0	1,009 (-7%)	1mo	$93,999	$93	58
1331 S 28th St	0.56mi	3/1.5	1,152 (+6%)	6mo	$60,000	$52	58
1812 Wilson Ave	0.43mi	3/1.5	1,248 (+14%)	1mo	$135,000	$108	53
2645 Grand Ave	0.33mi	2/1.0 (-1)	926 (-15%)	3mo	$62,000	$67	52
1320 S 17th St	0.66mi	3/2.0	1,003 (-8%)	3mo	$118,000	$118	50
2108 Bolling Ave	0.73mi	3/1.0	1,011 (-7%)	7mo	$52,000	$51	48
1419 S 28th St	0.67mi	4/2.0 (+1)	1,203 (+10%)	6mo	$100,000	$83	38

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 47.6%
• Equity multiple: 4.69×
• Total profit: $75,845
• Equity at exit: $66,210

10-year hold

• IRR: 43.5%
• Equity multiple: 11.50×
• Total profit: $215,984
• Equity at exit: $142,785

Cash invested: $20,579 (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 40210

• Home prices YoY: 12.1%
• Rents YoY: 8.1%
• Active inventory: 91
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,205 high
• Mortgage (P&I): −$385
• Tax from tax record: −$73 /mo · $881/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $462

Break-even live

Break-even rent $620

Max offer price $73,495

Occupancy floor 57%

Sensitivity live

Price	-10% $504	-5% $483	+0% $462	+5% $442	+10% $421
Rent	-10% $367	-5% $415	+0% $462	+5% $510	+10% $557
Rate	-1.0pp $499	-0.5pp $481	base $462	+0.5pp $443	+1.0pp $424

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: $18,374
• Closing costs: $2,205
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	3d	1	0.29mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	24d	1	0.30mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	24d	1	0.32mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	16d	1	0.33mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	24d	1	0.35mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	24d	1	0.35mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	24d	1	0.36mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	24d	1	0.37mi
2223 Saint Louis Ave Louisville, KY	3.0	1.5	1152	$1,175	$1.02	24d	1	0.39mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	24d	1	0.40mi
1333 S 22nd St Louisville, KY	2.0	1.0	744	$1,200	$1.61	24d	1	0.41mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	24d	1	0.41mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	20d	1	0.42mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	24d	1	0.42mi
1155 S 28th St Unit 4 Louisville, KY	4.0	2.0	1010	$1,350	$1.34	24d	1	0.44mi
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	11d	1	0.45mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	24d	1	0.45mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	3d	1	0.48mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	24d	1	0.50mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	24d	1	0.51mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	24d	1	0.51mi
1723 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	1200	$1,300	$1.08	24d	1	0.51mi
1410 Standard Village Cir Louisville, KY	3.0	2.0	1200	$900	$0.75	24d	1	0.52mi
1644 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	900	$950	$1.06	24d	1	0.54mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	20d	1	0.55mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	16d	1	0.56mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	24d	1	0.57mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	11d	1	0.60mi
1710 Saint Louis Ave Louisville, KY	2.0	1.0	720	$1,000	$1.39	3d	1	0.60mi
1305 S 17th St Louisville, KY	2.0	1.0	750	$950	$1.27	24d	1	0.65mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	24d	1	0.73mi
3122 W Kentucky St Louisville, KY	3.0	1.0	1030	$1,150	$1.12	24d	1	0.76mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	24d	1	0.78mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	21d	1	0.78mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	16d	1	0.80mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	3d	1	0.81mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	21d	1	0.84mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	24d	1	0.84mi
3215 Virginia Ave Louisville, KY	3.0	1.0	975	$924	$0.95	24d	1	0.87mi
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	24d	1	0.88mi

Listing history 47 events

1. 2026-06-18
   days on market $73,495 Active 40 DOM
2. 2026-06-17
   days on market $73,495 Active 39 DOM
3. 2026-06-16
   days on market $73,495 Active 38 DOM
4. 2026-06-15
   days on market $73,495 Active 37 DOM
5. 2026-06-13
   days on market $73,495 Active 35 DOM
6. 2026-06-10
   days on market $73,495 Active 32 DOM
7. 2026-06-09
   days on market $73,495 Active 31 DOM
8. 2026-06-08
   days on market $73,495 Active 30 DOM
9. 2026-06-07
   days on market $73,495 Active 29 DOM
10. 2026-06-03
    days on market $73,495 Active 25 DOM
11. 2026-06-02
    days on market $73,495 Active 24 DOM
12. 2026-06-01
    days on market $73,495 Active 23 DOM
13. 2026-05-31
    days on market $73,495 Active 22 DOM
14. 2026-05-09
    listed $73,495 Active
15. 2024-09-12
    historical $850
16. 2024-08-01
    historical
17. 2024-07-19
    listed $850
18. 2024-07-14
    historical $850
19. 2024-07-10
    listed $850
20. 2024-02-23
    listed $80,000 Active
21. 2024-01-11
    historical $825
22. 2023-12-08
    listed $825
23. 2023-07-08
    historical
24. 2023-04-03
    price $72,500
25. 2023-04-03
    listed $75,000 Active
26. 2023-04-03
    price $75,000
27. 2023-03-31
    historical
28. 2023-01-26
    price $77,500
29. 2023-01-26
    listed $80,000 Active
30. 2023-01-26
    price $80,000
31. 2022-04-01
    soldstatus $451,000
32. 2018-12-26
    soldstatus $16,500 Closed
33. 2018-12-07
    status Pending
34. 2018-11-23
    listed $1 Active
35. 2008-09-03
    soldstatus $12,000
36. 2007-11-27
    listed $42,500
37. 2007-09-30
    historical
38. 2007-05-21
    listed $56,000
39. 2007-04-27
    soldstatus $25,000
40. 2007-04-20
    soldstatus $25,000
41. 2007-04-04
    listed $47,500
42. 2004-08-03
    soldstatus $8,000
43. 2004-08-03
    soldstatus $8,000
44. 2004-03-21
    listed $18,000
45. 2004-03-21
    listed $18,000
46. 2000-06-30
    historical
47. 2000-01-10
    listed $51,500

ⓘ 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: $881 · $73/mo
• Projected year-2 tax: $881 · $73/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: $14,457
• − Mortgage interest: −$4,117
• − Property taxes: −$881
• − Insurance: −$367
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$2,138
• Taxable income: $4,641
• Est. tax owed @ 24.0%: −$1,114
• After-tax cash flow: $4,434/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): 13,518
• Household income: $35,347
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 815.0

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 (84%)
• Race & ethnicity: Black 84% White 8% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3%

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: ▲ 28.45%
• Current HPI: 264.0146
• Rent YoY: ▲ 8.05%
• 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

+42.7% since first listed

34 events — show timeline

• 2026-05-09 Listed $73,495 Metro Search MLS
• 2024-09-12 Rental Removed $850 Avail
• 2024-08-01 Listing Removed — Metro Search MLS
• 2024-07-19 Listed for Rent $850 Avail
• 2024-07-14 Rental Removed $850 Avail
• 2024-07-10 Listed for Rent $850 Avail
• 2024-02-23 Listed $80,000 Metro Search MLS
• 2024-01-11 Rental Removed $825 Avail
• 2023-12-08 Listed for Rent $825 Avail
• 2023-07-08 Listing Removed — Metro Search MLS
• 2023-04-03 Price Changed $75,000 Metro Search MLS
• 2023-04-03 Listed $75,000 Metro Search MLS
• 2023-04-03 Price Changed $72,500 Metro Search MLS
• 2023-03-31 Listing Removed — Metro Search MLS
• 2023-01-26 Price Changed $80,000 Metro Search MLS
• 2023-01-26 Listed $80,000 Metro Search MLS
• 2023-01-26 Price Changed $77,500 Metro Search MLS
• 2022-04-01 Sold (Public Records) $451,000 Public Records
• 2018-12-26 Sold (MLS) $16,500 Metro Search MLS
• 2018-12-07 Pending — Metro Search MLS
• 2018-11-23 Listed $1 Metro Search MLS
• 2008-09-03 Sold (MLS) $12,000 Metro Search MLS
• 2007-11-27 Listed $42,500 Metro Search MLS
• 2007-09-30 Listing Removed — Metro Search MLS
• 2007-05-21 Listed $56,000 Metro Search MLS
• 2007-04-27 Sold (Public Records) $25,000 Public Records
• 2007-04-20 Sold (MLS) $25,000 Metro Search MLS
• 2007-04-04 Listed $47,500 Metro Search MLS
• 2004-08-03 Sold (MLS) $8,000 Metro Search MLS
• 2004-08-03 Sold (MLS) $8,000 Metro Search MLS
• 2004-03-21 Listed $18,000 Metro Search MLS
• 2004-03-21 Listed $18,000 Metro Search MLS
• 2000-06-30 Listing Removed — Metro Search MLS
• 2000-01-10 Listed $51,500 Metro Search MLS

Property tax history

+9.7%/yr

Latest (2025): $881 · -1.9% YoY. Source: county tax records.