6737 Vandre Ave · Louisville/Jefferson County metro government (balance), KY 40228

$176,000

3 bd · 1.5 ba · 1,240 sqft · Townhouse · 32 Days on market

Built 1973 2,800 sqft lot Est $205k · 14% under

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Why this score? — see what drove the C 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 +23.1/30.0
• ARV discount +13.8/15.0
• DSCR +7.4/10.0
• 1% rule +5.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

New HVAC and New water heater as of 2026. Discover the perfect blend of comfort and convenience in this beautifully updated fee-simple townhome. Located in a prime Louisville neighborhood with no HOA fees, this property offers the freedom and flexibility you've been looking for. Property Highlights: Open Concept Living: The spacious Living/Dining Room combo provides a seamless flow, perfect for modern daily living and hosting friends and family. Functional Kitchen: Equipped with abundant wood cabinetry, ample counter space, a dedicated pantry, and a gas stove for the home chef. Convenient Layout: The main level features a large powder room and laundry combo for maximum efficiency. Restful

Key facts

• Functional kitchen
• Open concept living
• Dedicated pantry

Tags

• FEE-SIMPLE TOWNHOME
• PRIME LOUISVILLE NEIGHBORHOOD
• NO HOA FEES
• OPEN CONCEPT LIVING
• FUNCTIONAL KITCHEN
• DEDICATED PANTRY

Property features AI

Finance

• Other: Property located in the Pleasant Valley subdivision; Lot dimensions approximately 25 x 112
• HOA & community: No association fee

Exterior

• Parking: Driveway parking
• Utilities: Electricity connected; Natural gas service
• Home design: Traditional residential property; 2 stories; Living area reported as 1,240 above-grade
• Construction: Built in 1973; Vinyl siding and brick exterior; Shingle roof; Poured concrete foundation
• Exterior features: Chain link fencing; Sidewalk; Cleared lot

Interior

• Kitchen: Kitchen on the first floor; Dining area adjacent to the kitchen
• Bedrooms: 3 bedrooms total; Primary bedroom on the second floor; All bedrooms located on the second floor
• Bathrooms: One full bathroom on the second floor; One half bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; One HVAC unit
• Interior features: 6 total rooms; 5 closets; No basement; Side-by-side dining area and kitchen on the first floor; Living room on the first floor
• Laundry & utility: Laundry room on the first floor; First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $176k.

Deal economics

• At list price, monthly cash flow is $315 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $176k).
• Recommended offer: $171k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.0% in Louisville/Jefferson County metro government (balance) — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 95 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 32 days — a 3% lower offer ($171k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $64k; list at $176k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,720 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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 1973 — 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. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $204,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6604 Vandre Ave	0.18mi	3/1.5	1,244 (+0%)	1mo	$150,000	$121	90
6739 Vandre Ave	0.00mi	3/1.5	1,100 (-11%)	3mo	$163,000	$148	78
6903 Winnie Way	0.44mi	2/2.0 (-1)	1,249 (+1%)	4mo	$255,000	$204	68
6910 Janes Farm Dr	0.32mi	2/2.0 (-1)	1,159 (-6%)	2mo	$239,900	$207	65
8603 Mill Spring Pl	0.38mi	2/2.0 (-1)	1,206 (-3%)	12mo	$239,950	$199	61
7308 Fox Hollow Way	0.58mi	2/2.0 (-1)	1,204 (-3%)	3mo	$188,000	$156	59
7339 Fox Hollow Way	0.62mi	2/2.0 (-1)	1,280 (+3%)	3mo	$188,000	$147	56
7333 Fox Hollow Way	0.62mi	2/2.0 (-1)	1,286 (+4%)	5mo	$212,500	$165	54
7209 Briscoe Vista Way	0.49mi	2/2.0 (-1)	1,139 (-8%)	7mo	$199,900	$176	51
8228 Delta Cir	0.56mi	2/2.0 (-1)	1,171 (-6%)	10mo	$240,000	$205	50
7221 Correll Place Dr	0.69mi	2/2.0 (-1)	1,225 (-1%)	12mo	$200,000	$163	48
7239 Correll Pl	0.71mi	2/2.0 (-1)	1,371 (+11%)	6mo	$167,500	$122	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.83×
• Total profit: $-8,477
• Equity at exit: $26,242

10-year hold

• IRR: 5.1%
• Equity multiple: 1.37×
• Total profit: $18,335
• Equity at exit: $15,217

Cash invested: $49,280 (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 40228

• Active inventory: 95
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,814 high
• Mortgage (P&I): −$923
• Tax from tax record: −$122 /mo · $1,461/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $315

Break-even live

Break-even rent $1,415

Max offer price $176,000

Occupancy floor 78%

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: $44,000
• Closing costs: $5,280
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6600 Outer Loop Louisville, KY	1.0–3.0	1.0–1.5	872	$1,509	$1.73	3d	1	0.04mi
6600 Outer Loop Unit 66 Louisville, KY	3.0	1.5	1080	$1,389	$1.29	23d	1	0.12mi
6605 Vandre Ave Louisville, KY	3.0	2.0	1100	$1,775	$1.61	23d	1	0.15mi
7400 Snow Bend Ave Louisville, KY	1.0–3.0	1.0–2.0	1074	$1,846	$1.72	1d	11	0.75mi
7220 Harborton Way Louisville, KY	3.0	1.0	1000	$1,550	$1.55	23d	1	0.82mi
7715 Oakfields Pointe Rd Louisville, KY	1.0–2.0	1.0–2.0	1073	$1,469	$1.37	2d	11	0.91mi
8825 Anatolia Ct Louisville, KY	1.0–3.0	1.0–2.0	1071	$2,059	$1.92	3d	18	1.17mi

Listing history 17 events

1. 2026-06-18
   days on market $176,000 Active 32 DOM
2. 2026-06-17
   days on market $176,000 Active 31 DOM
3. 2026-06-16
   days on market $176,000 Active 30 DOM
4. 2026-06-15
   days on market $176,000 Active 29 DOM
5. 2026-06-13
   days on market $176,000 Active 27 DOM
6. 2026-06-10
   days on market $176,000 Active 24 DOM
7. 2026-06-09
   days on market $176,000 Active 23 DOM
8. 2026-06-08
   days on market $176,000 Active 22 DOM
9. 2026-06-07
   days on market $176,000 Active 21 DOM
10. 2026-06-03
    days on market $176,000 Active 17 DOM
11. 2026-06-02
    days on market $176,000 Active 16 DOM
12. 2026-06-01
    days on market $176,000 Active 15 DOM
13. 2026-05-31
    pricedays on market $176,000 Active 14 DOM
14. 2026-05-24
    status Active
15. 2026-05-16
    status Pending
16. 2026-05-08
    listed $179,000 Active
17. 2004-07-01
    soldstatus $64,000

ⓘ 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: $1,461 · $122/mo
• Projected year-2 tax: $1,514 · $126/mo
• Expected delta: +$53/yr (+$4/mo · 3.6%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,771
• − Mortgage interest: −$9,859
• − Property taxes: −$1,461
• − Insurance: −$880
• − Repairs & maintenance: −$1,742
• − Management: −$1,742
• − Depreciation: −$5,120
• Taxable income: $968
• Est. tax owed @ 24.0%: −$232
• After-tax cash flow: $3,550/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/Jefferson County metro government (balance)

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Louisville/Jefferson County metro government (balance), KY
• County: Jefferson County · 790,184 people
• City population: 419,741
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 18,085
• Household income: $79,404
• Rent vs Own: 22.8% rent · 77.2% own
• Severe rent burden: 95.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 16% Two or more races 14% Hispanic / Latino 11% Asian 1%
• Hispanic origin (detail): Mexican 1% Cuban 7%
• Common ancestry: Italian 2% Lithuanian 2% Swiss 1%
• Foreign-born: 14% · Canada
• Languages at home: 84% English-only · Spanish 9% Arabic 1% Other Asian/Pacific 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: ▼ -215.41%
• Current HPI: 238.4061
• Rent YoY: —
• 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

+179.7% since first listed

4 events — show timeline

• 2026-05-24 Relisted — Metro Search MLS
• 2026-05-16 Pending — Metro Search MLS
• 2026-05-08 Listed $179,000 Metro Search MLS
• 2004-07-01 Sold (Public Records) $64,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,461 · +51.7% YoY. Source: county tax records.