1233 Phyllis Ave · Louisville, KY 40215

$125,500

4 bd · 1.0 ba · 2,064 sqft · SingleFamily · 6 Days on market

Built 1948 7,865 sqft lot Est $200k · 37% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

investors take notice this story and half home has 4 bedrooms, 1 bath, this home excellent bones, updated in the past years such as, roof, windows, ALL plumbing, electrical, HVAC, this house needs painting, flooring and it will be ready for your next renter. This property will not last long, second floor non conforming/ ceiling height may not be to ansi standards. Please verify on your own.

Key facts

• Updated electrical
• Updated windows
• Updated roof

Tags

• UPDATED ROOF
• UPDATED WINDOWS
• UPDATED PLUMBING
• UPDATED ELECTRICAL
• UPDATED HVAC

Property features AI

Finance

• Other: Subdivision: HOWARD THORNBERRYS; Directions: Taylor Blvd. left on Phyllis Ave
• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Natural gas service
• Home design: Traditional single-family residence; Two stories; Built in 1948
• Construction: Wood frame construction; Shingle roof; Poured concrete foundation
• Exterior features: Cleared lot; No fencing; Lot dimensions approximately 60.5 x 130

Interior

• Kitchen: Kitchen on the first floor; Dining room on the first floor
• Bedrooms: Four bedrooms total; Two bedrooms on the first floor; Two bedrooms on the second floor; Primary bedroom located on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; One HVAC unit
• Interior features: Seven total rooms; Five closets; Basement is unfinished
• Laundry & utility: No first-floor laundry

🏷️ Possibly a rental listed for sale. The $125,500 price doesn't fit this home's estimated sale value (~$200,208) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $126k.

Deal economics

• At list price, monthly cash flow is $818 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $126k).
• Cap rate 14.1% 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 (+5.2%/yr); 119 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $1,965/mo this rent would consume 54% of the median local household income ($44k/yr) (locally 997% 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 $868 of loan paydown is wiped out by about $4k 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 + 5.2% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $89k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $125,500

Questions for the listing agent

1. Built in 1948 — 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: 1.57% ✓
• Cap rate: 14.11%
• Cash-on-cash: 27.93%
• DSCR: 2.24
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $200,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1302 Weyler Ave	0.23mi	3/1.0 (-1)	1,843 (-11%)	7mo	$170,000	$92	61
802 Longfield Ave	0.59mi	4/2.0	2,050 (-1%)	9mo	$260,000	$127	60
3420 Vetter Ave	0.36mi	4/2.5	1,883 (-9%)	4mo	$219,900	$117	59
1036 Tennessee Ave	0.51mi	3/2.0 (-1)	2,150 (+4%)	3mo	$199,900	$93	58
1204 Larchmont Ave	0.20mi	3/2.0 (-1)	1,862 (-10%)	14mo	$215,000	$115	54
716 Algonquin Pkwy	0.73mi	4/2.0	2,108 (+2%)	7mo	$96,000	$46	53
3119 Faywood Way	0.41mi	3/2.5 (-1)	1,978 (-4%)	12mo	$221,500	$112	53
1505 Homeview Dr	0.55mi	3/2.0 (-1)	1,949 (-6%)	6mo	$189,000	$97	52
564 Longfield Ave	0.65mi	3/1.5 (-1)	2,128 (+3%)	10mo	$199,000	$94	49
1571 Clara Ave	0.60mi	4/1.0	1,796 (-13%)	8mo	$169,900	$95	44
1533 Southgate Ave	0.50mi	3/1.5 (-1)	2,242 (+9%)	15mo	$205,000	$91	43
1426 Longfield Ave	0.51mi	4/2.0	1,765 (-14%)	17mo	$200,000	$113	34

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 · 5.16% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.03×
• Total profit: $36,060
• Equity at exit: $18,712

10-year hold

• IRR: 33.3%
• Equity multiple: 4.33×
• Total profit: $116,968
• Equity at exit: $10,851

Cash invested: $35,140 (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 40215

• Home prices YoY: -34.4%
• Rents YoY: 5.2%
• Active inventory: 119
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,965 high
• Mortgage (P&I): −$658
• Tax from tax record: −$24 /mo · $288/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $818

Break-even live

Break-even rent $930

Max offer price $125,500

Occupancy floor 53%

Sensitivity live

Price	-10% $889	-5% $853	+0% $818	+5% $782	+10% $747
Rent	-10% $663	-5% $740	+0% $818	+5% $895	+10% $973
Rate	-1.0pp $881	-0.5pp $850	base $818	+0.5pp $785	+1.0pp $752

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: $31,375
• Closing costs: $3,765
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1505 Homeview Dr Louisville, KY	5.0	2.0	1949	$1,850	$0.95	17d	1	0.53mi
925 W Evelyn Ave Louisville, KY	3.0	1.5	1520	$1,650	$1.09	25d	1	0.60mi
2718 S 5th St Louisville, KY	5.0	2.0	2196	$1,600	$0.73	13d	1	0.79mi
3102 Grant Ave Louisville, KY	4.0	2.0	1603	$1,595	$1.00	25d	1	0.94mi
2718 S 3rd St Unit 2 Louisville, KY	4.0	2.0	2000	$2,800	$1.40	13d	1	0.95mi
4007 Southern Pkwy Unit 1 Louisville, KY	4.0	1.0	1500	$1,395	$0.93	4d	1	0.96mi
516 Colorado Ave Louisville, KY	3.0	2.0	2000	$1,800	$0.90	17d	1	0.97mi
510 Colorado Ave Louisville, KY	3.0	2.0	1500	$1,750	$1.17	25d	1	0.98mi
2711 S 3rd St Unit 1 Louisville, KY	4.0	2.0	1800	$2,400	$1.33	13d	1	0.99mi
4513 S 6th St Louisville, KY	3.0	2.0	1581	$2,650	$1.68	25d	1	1.32mi
4010 Taylor Blvd Louisville, KY	4.0	2.0	1612	$3,000	$1.86	17d	1	1.35mi

Listing history 6 events

1. 2026-06-13
   statusdays on market $125,500 Pending 6 DOM
2. 2026-06-10
   days on market $125,500 Active 5 DOM
3. 2026-06-09
   days on market $125,500 Active 4 DOM
4. 2026-06-08
   days on market $125,500 Active 3 DOM
5. 2026-06-07
   remarks 393-char remark
6. 2026-06-07
   listed $125,500 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: $288 · $24/mo
• Projected year-2 tax: $1,079 · $90/mo
• Expected delta: +$791/yr (+$66/mo · 274.4%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°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: $23,579
• − Mortgage interest: −$7,030
• − Property taxes: −$288
• − Insurance: −$628
• − Repairs & maintenance: −$1,886
• − Management: −$1,886
• − Depreciation: −$3,651
• Taxable income: $8,209
• Est. tax owed @ 24.0%: −$1,970
• After-tax cash flow: $7,843/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): 20,532
• Household income: $43,725
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 997.0

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 0.63)
• Race & ethnicity: White 51% Black 33% Two or more races 11% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Slovak 1% Romanian 1% Serbian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 2% 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: ▼ -119.35%
• Current HPI: 227.8248
• Rent YoY: ▲ 5.16%
• 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

+41.0% since first listed

2 events — show timeline

• 2026-06-05 Listed $125,500 Metro Search MLS
• 2026-05-19 Sold (Public Records) $89,000 Public Records

Property tax history

-4.5%/yr

Latest (2025): $288 · -12.4% YoY. Source: county tax records.