2333 Greenwood Ave · Louisville, KY 40210

$119,000

3 bd · 1.0 ba · 1,599 sqft · SingleFamily · 148 Days on market

Built 1920 4,051 sqft lot Est $150k · 21% under

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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 +26.1/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.8/10.0
• 1% rule +5.8/10.0
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Wonderful home for an investor or first time home buyer! This home features a covered front porch, multiple bedrooms, fenced in backyard and a detached garage. Inside this home you will love the original hardwood floor and updated appliances Schedule a showing today.

Key facts

• Covered front porch
• Fenced-in backyard
• 4,051 sq ft lot

Tags

• COVERED FRONT PORCH
• FENCED-IN BACKYARD
• ORIGINAL HARDWOOD FLOORS

Property features AI

Finance

• HOA & community: No association fee; No monthly maintenance

Exterior

• Parking: Detached 1-car garage
• Utilities: Electricity connected; Natural gas
• Home design: Single-family bungalow; One story; Built in 1920
• Construction: Vinyl siding and wood frame construction; Shingle roof; Unfinished basement
• Exterior features: Sidewalk; Wood and chain-link fencing

Interior

• Kitchen: Dining room on the first floor (open to living room)
• Bedrooms: Three bedrooms on the first floor
• Flooring: Hardwood floors in living area
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Five total rooms; Basement (unfinished)
• 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 $119k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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); 92 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

Forward outlook

• In year one you build about $13k of equity ($823 loan paydown + $12k 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 $33k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $16k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $119k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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?
6. 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?
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: 1.08% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.75%
• DSCR: 1.48
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $150,306
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2244 Date St	0.16mi	2/1.0 (-1)	1,642 (+3%)	7mo	$50,000	$30	77
2205 Osage Ave	0.25mi	4/1.0 (+1)	1,516 (-5%)	2mo	$157,000	$104	73
2202 W Oak St	0.36mi	4/2.0 (+1)	1,539 (-4%)	1mo	$170,500	$111	67
2124 W Kentucky St	0.25mi	4/2.0 (+1)	1,675 (+5%)	5mo	$180,000	$107	67
1710 Gallagher St	0.56mi	3/1.0	1,662 (+4%)	2mo	$60,000	$36	66
865 S 26th St	0.25mi	3/1.0	1,371 (-14%)	3mo	$51,999	$38	62
2532 Garland Ave	0.19mi	4/2.5 (+1)	1,720 (+8%)	8mo	$159,000	$92	61
1334 Cypress St	0.51mi	3/2.0	1,491 (-7%)	2mo	$195,000	$131	59
1365 Cypress St	0.57mi	3/1.5	1,764 (+10%)	4mo	$165,000	$94	51
2001 Wilson Ave	0.53mi	3/2.0	1,764 (+10%)	8mo	$85,000	$48	48
1415 S 28th St	0.68mi	3/2.0	1,384 (-13%)	2mo	$190,000	$137	40
1445 Olive St	0.75mi	4/1.5 (+1)	1,712 (+7%)	8mo	$150,000	$88	40

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: 34.2%
• Equity multiple: 3.72×
• Total profit: $90,608
• Equity at exit: $107,205

10-year hold

• IRR: 31.1%
• Equity multiple: 9.06×
• Total profit: $268,678
• Equity at exit: $231,191

Cash invested: $33,320 (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: 92
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,291 high
• Mortgage (P&I): −$624
• Tax from tax record: −$47 /mo · $567/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $299

Break-even live

Break-even rent $913

Max offer price $119,000

Occupancy floor 72%

Sensitivity live

Price	-10% $366	-5% $332	+0% $299	+5% $265	+10% $231
Rent	-10% $197	-5% $248	+0% $299	+5% $350	+10% $401
Rate	-1.0pp $359	-0.5pp $329	base $299	+0.5pp $268	+1.0pp $236

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	25d	1	0.16mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	25d	1	0.23mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	21d	1	0.24mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	25d	1	0.24mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	25d	1	0.25mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	25d	1	0.29mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	25d	1	0.31mi
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	4d	1	0.35mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	25d	1	0.36mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	25d	1	0.37mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	25d	1	0.37mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	17d	1	0.43mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	17d	1	0.50mi
2223 Saint Louis Ave Louisville, KY	3.0	1.5	1152	$1,175	$1.02	25d	1	0.52mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	11d	1	0.56mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	21d	1	0.57mi
1723 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	1200	$1,300	$1.08	25d	1	0.59mi
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	11d	1	0.60mi
1410 Standard Village Cir Louisville, KY	3.0	2.0	1200	$900	$0.75	25d	1	0.63mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,395	$0.75	4d	1	0.67mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	22d	1	0.68mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	25d	1	0.68mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	25d	1	0.71mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	4d	1	0.83mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	25d	1	0.84mi
1810 Magazine St Louisville, KY	3.0	1.5	1248	$1,450	$1.16	11d	1	0.86mi
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	17d	1	0.92mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	25d	1	0.94mi
1774 Bolling Ave Louisville, KY	3.0	2.0	1611	$1,300	$0.81	11d	1	0.95mi
430 S 24th St Louisville, KY	3.0	1.5	1288	$1,400	$1.09	25d	1	0.95mi
1545 Catalpa St Louisville, KY	4.0	1.5	1760	$1,545	$0.88	4d	1	0.95mi
3514 Grand Ave Louisville, KY	3.0	1.5	1450	$1,295	$0.89	22d	1	0.99mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	25d	1	1.08mi
1622 Beech St Louisville, KY	4.0	1.0	1108	$1,445	$1.30	17d	1	1.09mi
1618 S 30th St Louisville, KY	3.0	1.0	1896	$1,235	$0.65	17d	1	1.13mi
823 S 38th St Louisville, KY	3.0	1.0	1100	$1,195	$1.09	4d	1	1.19mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	25d	1	1.27mi
2508 W Main St Louisville, KY	3.0	1.0	1327	$1,500	$1.13	25d	1	1.27mi
2529 W Main St #2 Louisville, KY	3.0	1.0	1404	$1,200	$0.85	25d	1	1.31mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	17d	1	1.39mi

Listing history 30 events

1. 2026-06-21
   days on market $119,000 Active 148 DOM
2. 2026-06-18
   days on market $119,000 Active 145 DOM
3. 2026-06-17
   days on market $119,000 Active 144 DOM
4. 2026-06-16
   days on market $119,000 Active 143 DOM
5. 2026-06-15
   days on market $119,000 Active 142 DOM
6. 2026-06-13
   days on market $119,000 Active 140 DOM
7. 2026-06-10
   days on market $119,000 Active 137 DOM
8. 2026-06-09
   days on market $119,000 Active 136 DOM
9. 2026-06-08
   days on market $119,000 Active 135 DOM
10. 2026-06-07
    days on market $119,000 Active 134 DOM
11. 2026-06-03
    days on market $119,000 Active 130 DOM
12. 2026-06-02
    days on market $119,000 Active 129 DOM
13. 2026-06-01
    days on market $119,000 Active 128 DOM
14. 2026-05-31
    days on market $119,000 Active 127 DOM
15. 2026-02-12
    price $119,000
16. 2026-01-24
    listed $135,000 Active
17. 2024-01-12
    historical
18. 2023-11-27
    price $129,000
19. 2023-10-13
    listed $135,000 Active
20. 2022-09-29
    soldstatus $45,000
21. 2022-09-27
    soldstatus $45,000 Closed 270-char remark

    Show marketing remark (270 chars)

    Wonderful home for an investor or first time home buyer! This home features a covered front porch, multiple bedrooms, fenced in backyard and a detached garage. Inside this home you will love the original hardwood floor and updated appliances Schedule a showing today.

22. 2022-08-15
    status Pending 270-char remark

    Show marketing remark (270 chars)

    Wonderful home for an investor or first time home buyer! This home features a covered front porch, multiple bedrooms, fenced in backyard and a detached garage. Inside this home you will love the original hardwood floor and updated appliances Schedule a showing today.

23. 2022-08-10
    listed $50,000 Active 270-char remark

    Show marketing remark (270 chars)

    Wonderful home for an investor or first time home buyer! This home features a covered front porch, multiple bedrooms, fenced in backyard and a detached garage. Inside this home you will love the original hardwood floor and updated appliances Schedule a showing today.

24. 2017-05-01
    soldstatus $32,000
25. 2017-04-28
    historical
26. 2017-04-28
    soldstatus $32,000 Closed
27. 2017-02-14
    status Pending
28. 2016-01-19
    listed $42,500 Active
29. 2016-01-19
    price $37,500
30. 2016-01-19
    price $34,900

ⓘ 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: $567 · $47/mo
• Projected year-2 tax: $1,023 · $85/mo
• Expected delta: +$456/yr (+$38/mo · 80.5%)

ⓘ 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: $15,486
• − Mortgage interest: −$6,666
• − Property taxes: −$567
• − Insurance: −$595
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$3,462
• Taxable income: $1,719
• Est. tax owed @ 24.0%: −$413
• After-tax cash flow: $3,171/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

+217.3% since first listed

16 events — show timeline

• 2026-02-12 Price Changed $119,000 Metro Search MLS
• 2026-01-24 Listed $135,000 Metro Search MLS
• 2024-01-12 Listing Removed — Metro Search MLS
• 2023-11-27 Price Changed $129,000 Metro Search MLS
• 2023-10-13 Listed $135,000 Metro Search MLS
• 2022-09-29 Sold (Public Records) $45,000 Public Records
• 2022-09-27 Sold (MLS) $45,000 Metro Search MLS
• 2022-08-15 Pending — Metro Search MLS
• 2022-08-10 Listed $50,000 Metro Search MLS
• 2017-05-01 Sold (Public Records) $32,000 Public Records
• 2017-04-28 Listing Removed — Metro Search MLS
• 2017-04-28 Sold (MLS) $32,000 Metro Search MLS
• 2017-02-14 Pending — Metro Search MLS
• 2016-01-19 Listed $42,500 Metro Search MLS
• 2016-01-19 Price Changed $34,900 Metro Search MLS
• 2016-01-19 Price Changed $37,500 Metro Search MLS

Property tax history

-0.6%/yr

Latest (2025): $567 · -1.9% YoY. Source: county tax records.