1924 Goldsmith Ln Unit 1 · Louisville, KY 40218

$1

1 bd · 1.0 ba · 900 sqft · Condo · 14 Days on market

Built 1953

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks

PROPRTY IS GOING TO AUCTION ONLINE ONLY APRIL 26TH-30TH WWW. AUCTIONGROUPS. COM THIS IS PART OF 13 PROPERTIES GOING TO AUCTION. PLEASE VISIT OUR WEBSITE FOR COMPLETE DETAILS

Key facts

• Built 1953
• Listed 14 days

Property features AI

Finance

• Other: Subdivision: HOLLY HOUSE
• HOA & community: Association present (no association fee)

Exterior

• Parking: See remarks for parking
• Utilities: Utilities: other
• Home design: Residential auction property; Other architectural style; Single-story
• Construction: Built in 1953; Brick construction; Shingle roof; Poured concrete foundation
• Exterior features: No fencing; Lot features: see remarks

Interior

• Kitchen: Kitchen on first floor
• Bedrooms: 1 bedroom (first floor, primary bedroom on first floor)
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating; Central air conditioning
• Interior features: 3 total rooms; Unfinished basement
• Laundry & utility: No first-floor laundry

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $1 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $1.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Cap rate 490572.9% 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 falling (-3.5%/yr); 100 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $0 of loan paydown is wiped out by about $0 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 + 0.0% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent; built in 1953 — 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 $1

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 100356.00% ✓
• Cap rate: 490572.88%
• Cash-on-cash: 1752023.53%
• DSCR: 77956.19
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 83383.07×
• Total profit: $23,347
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 155398.19×
• Total profit: $43,511
• Equity at exit: $0

Cash invested: $0 (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 40218

• Rents YoY: -3.5%
• Active inventory: 100

Monthly cashflow live

• Estimated rent: $1,004 high
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA est. from 10 same-building comps: −$384
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $409

Break-even live

Break-even rent $486

Max offer price $1

Occupancy floor 54%

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3201 Leith Ln Louisville, KY	1.0–2.0	1.0–1.5	850	$879	$1.03	3d	8	0.15mi
1968 Goldsmith Ln Louisville, KY	2.0	1.0	1000	$1,000	$1.00	23d	1	0.28mi
1967 Goldsmith Ln Louisville, KY	1.0–2.0	1.0	850	$869	$1.02	23d	1	0.29mi
3439 Newburg Rd Unit 5 Louisville, KY	2.0	1.0	900	$1,200	$1.33	23d	1	0.37mi
3439 Newburg Rd Unit 1 Louisville, KY	1.0	1.0	700	$950	$1.36	23d	1	0.37mi
2007 Terril Ln Louisville, KY	1.0	1.0	587	$862	$1.47	23d	2	0.38mi
2004 Goldsmith Ln Unit 3 Louisville, KY	2.0	1.0	750	$1,050	$1.40	21d	1	0.39mi
2004 Goldsmith Ln Unit 3 Louisville, KY	2.0	1.0	800	$1,050	$1.31	23d	1	0.39mi
1801 Bashford Manor Ln Unit 5 Louisville, KY	2.0	1.0	1000	$1,200	$1.20	23d	1	0.40mi
2013 Goldsmith Ln Louisville, KY	1.0	1.0	675	$865	$1.28	16d	1	0.46mi
1935 Gardiner Ln Louisville, KY	1.0	1.0	900	$995	$1.11	23d	1	0.53mi
2132 Belmont Rd Louisville, KY	2.0	1.0	1053	$1,850	$1.76	23d	1	0.71mi
2153 Goldsmith Ln Louisville, KY	1.0–3.0	1.0–2.0	950	$820	$0.86	3d	10	0.79mi
3320 Bardstown Rd Unit V17 Louisville, KY	1.0	1.0	554	$825	$1.49	16d	1	0.83mi
3600 Fountain Dr Louisville, KY	1.0–3.0	1.0	675	$849	$1.26	3d	30	0.92mi
2212 Gerald Ct Louisville, KY	2.0	1.0	925	$1,100	$1.19	16d	1	1.19mi
3715 Ethel Ave Louisville, KY	1.0	1.0	600	$1,400	$2.33	3d	1	1.39mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-06
   status Pending
2. 2026-04-22
   listed $1 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,043
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$963
• − Management: −$963
• − HOA: −$4,608
• − Depreciation: −$0
• Taxable income: $5,508
• Est. tax owed @ 24.0%: −$1,322
• After-tax cash flow: $3,584/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): 33,736
• Household income: $58,811
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1590.0

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 0.69)
• Race & ethnicity: White 42% Black 32% Hispanic / Latino 17% Two or more races 16% Asian 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1% Cuban 7%
• Common ancestry: Lithuanian 1% Portuguese 1% Swiss 1%
• Foreign-born: 20% · Canada, India, Jamaica
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 3% 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: ▼ -208.23%
• Current HPI: 257.9528
• Rent YoY: ▼ -3.47%
• 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

Property tax history

+2.8%/yr

Latest (2025): $1,304 · +18.8% YoY. Source: county tax records.