1000 Berry Blvd · Louisville, KY 40215

$1

2 bd · 1.0 ba · 1,623 sqft · SingleFamily · 14 Days on market

Built 1940 3,964 sqft lot ↓ 7% since listing

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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
• 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 MLS

Don't let this one fool you! It's much bigger than it looks. The 1st floor has a bonus room and an eat-in kitchen with a pantry. All appliances to remain. The upstairs has a paneled dormer bedroom. The finished lower level has a family room, 2 additional bedrooms, a full bath and a laundry area. There are plenty of closets and storage areas. The fenced rear yard of this corner lot leads to a 2 car garage. Replacement windows and a covered front porch add to the many features of this house. Seller offering a one-year basic First American Home Warranty.

Key facts

• 3,964 sq ft lot
• Garage
• Built 1940

Property features AI

Finance

• Other: Subdivision: Thornberry
• HOA & community: No association fee

Exterior

• Parking: Detached garage (1 car)
• Utilities: Electricity connected
• Home design: Residential auction property; Other architectural style; Single-story
• Construction: Built in 1940; Wood frame construction; Other roof type; Partially finished basement (below grade finished and unfinished areas)
• Exterior features: Chain-link fence

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: 2 bedrooms, both on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating present; Central air conditioning
• Interior features: Partially finished basement; Total of 4 rooms; Family room on the first floor
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $1k ($14k/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 1408081.4% 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+, crime F.
• 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.
• Zoned schools: Semple Elementary (math 2% / reading 12%, grade F, #662 of 676 statewide, top 99%, 574 students, 79% FRL); Frederick Law Olmsted Academy North (math 5% / reading 15%, grade F, #217 of 217 statewide, top 100%, 510 students, 74% FRL); Iroquois High (math 12% / reading 8%, grade F, #245 of 254 statewide, top 97%, 1,090 students, 74% FRL) — zoned schools average 76% FRL vs 56% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 9% at this address vs 27% district-wide (-18 pts) — the specific schools serving this property underperform the Jefferson County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.2%/yr); 118 active listings in the ZIP; 22 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).
• This rent runs 41% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 5.2% 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.
• 3 sale attempts since 14y 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 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 1940 — 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. 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?
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: 148532.00% ✓
• Cap rate: 1408081.36%
• Cash-on-cash: 5028839.53%
• DSCR: 223756.06
• GRM: 0.0

CMA / ARV

• ARV (on-the-fly): $183,399
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1119 Hathaway Ave	0.21mi	3/1.0 (+1)	1,638 (+1%)	4mo	$70,000	$43	81
1123 W Whitney Ave	0.26mi	3/1.0 (+1)	1,508 (-7%)	2mo	$170,000	$113	70
576 Longfield Ave	0.32mi	3/1.0 (+1)	1,414 (-13%)	1mo	$179,300	$127	58
4103 Southern Pkwy	0.59mi	3/2.0 (+1)	1,646 (+1%)	7mo	$240,000	$146	55
4613 N Rutland Ave	0.74mi	3/1.0 (+1)	1,638 (+1%)	8mo	$190,000	$116	52
701 W Evelyn Ave	0.34mi	2/2.0	1,380 (-15%)	6mo	$128,700	$93	50
4513 S 6th St	0.70mi	3/2.0 (+1)	1,581 (-3%)	5mo	$195,800	$124	50
1009 W Ashland Ave	0.65mi	3/2.0 (+1)	1,525 (-6%)	4mo	$240,000	$157	48
4344 S 3rd St	0.71mi	3/2.0 (+1)	1,742 (+7%)	6mo	$172,000	$99	41
1408 Mccoy Ave	0.65mi	3/1.0 (+1)	1,424 (-12%)	5mo	$131,000	$92	40
1302 Weyler Ave	0.68mi	3/1.0 (+1)	1,843 (+14%)	7mo	$170,000	$92	35
1121 Larchmont Ave	0.74mi	3/2.0 (+1)	1,426 (-12%)	3mo	$150,000	$105	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: —
• Equity multiple: 278765.14×
• Total profit: $78,054
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 637266.68×
• Total profit: $178,434
• 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 40215

• Home prices YoY: -34.4%
• Rents YoY: 5.2%
• Active inventory: 118

Monthly cashflow live

• Estimated rent: $1,485 high
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $1,173

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

Sensitivity live

Price	-10% $1,173	-5% $1,173	+0% $1,173	+5% $1,173	+10% $1,173
Rent	-10% $1,056	-5% $1,115	+0% $1,173	+5% $1,232	+10% $1,291
Rate	-1.0pp $1,173	-0.5pp $1,173	base $1,173	+0.5pp $1,173	+1.0pp $1,173

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 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
925 W Evelyn Ave Louisville, KY	3.0	1.5	1520	$1,650	$1.09	25d	1	0.07mi
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	3d	1	0.18mi
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	13d	1	0.18mi
551 Denmark St Louisville, KY	3.0	1.5	1160	$1,700	$1.47	25d	1	0.33mi
3860 Southern Pkwy Louisville, KY	3.0	1.0	1064	$1,250	$1.17	25d	1	0.55mi
310 W Kenton St Louisville, KY	3.0	2.0	1295	$1,350	$1.04	25d	1	0.63mi
1522 Clara Ave Louisville, KY	3.0	2.0	1150	$1,150	$1.00	25d	1	0.64mi
4513 S 6th St Louisville, KY	3.0	2.0	1581	$2,650	$1.68	25d	1	0.70mi
3717 Wheeler Ave Louisville, KY	3.0	2.0	1124	$1,450	$1.29	25d	1	0.72mi
1305 Larchmont Ave Louisville, KY	2.0	1.0	1113	$1,350	$1.21	17d	1	0.95mi
114 E Florence Ave Unit 19 Louisville, KY	2.0	2.0	1080	$1,295	$1.20	17d	1	0.97mi
4406 S Brook St Apt 27 Louisville, KY	2.0	2.0	1080	$1,295	$1.20	13d	1	0.98mi
4608 S 3rd St Unit 1st Floor Louisville, KY	2.0	1.5	1100	$1,500	$1.36	25d	1	1.05mi
315 M St Unit 101 Louisville, KY	3.0	1.5	1200	$1,800	$1.50	13d	1	1.15mi
4725 Southern Pkwy Unit 1 Louisville, KY	2.0	1.0	1296	$925	$0.71	5d	1	1.15mi
2718 S 3rd St Unit 1 Louisville, KY	2.0	1.0	1200	$1,400	$1.17	13d	1	1.19mi
500 Montana Ave Louisville, KY	2.0	1.0	1191	$1,200	$1.01	16d	1	1.23mi
1161 Lincoln Ave Louisville, KY	2.0	1.5	1358	$1,150	$0.85	17d	1	1.27mi
516 Colorado Ave Louisville, KY	3.0	2.0	2000	$1,800	$0.90	17d	1	1.38mi
510 Colorado Ave Louisville, KY	3.0	2.0	1500	$1,750	$1.17	25d	1	1.39mi
2501 S 3rd St Louisville, KY	1.0–2.0	1.0–2.0	1011	$1,550	$1.53	5d	2	1.39mi
2501 S 4th St Louisville, KY	1.0–3.0	1.0–3.0	897	$3,732	$4.16	5d	1	1.42mi

Listing history 6 events

1. 2026-05-06
   status Pending
2. 2026-04-22
   listed $1 Active
3. 2013-06-20
   soldstatus $70,000 557-char remark

   Show marketing remark (557 chars)

   Don't let this one fool you! It's much bigger than it looks. The 1st floor has a bonus room and an eat-in kitchen with a pantry. All appliances to remain. The upstairs has a paneled dormer bedroom. The finished lower level has a family room, 2 additional bedrooms, a full bath and a laundry area. There are plenty of closets and storage areas. The fenced rear yard of this corner lot leads to a 2 car garage. Replacement windows and a covered front porch add to the many features of this house. Seller offering a one-year basic First American Home Warranty.

4. 2013-05-28
   listed $74,900 557-char remark

   Show marketing remark (557 chars)

   Don't let this one fool you! It's much bigger than it looks. The 1st floor has a bonus room and an eat-in kitchen with a pantry. All appliances to remain. The upstairs has a paneled dormer bedroom. The finished lower level has a family room, 2 additional bedrooms, a full bath and a laundry area. There are plenty of closets and storage areas. The fenced rear yard of this corner lot leads to a 2 car garage. Replacement windows and a covered front porch add to the many features of this house. Seller offering a one-year basic First American Home Warranty.

5. 2013-05-25
   historical
6. 2012-12-04
   listed $74,900

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 48% 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: $17,824
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,426
• − Management: −$1,426
• − Depreciation: −$0
• Taxable income: $14,972
• Est. tax owed @ 24.0%: −$3,593
• After-tax cash flow: $10,487/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

-6.5% since first listed

6 events — show timeline

• 2026-05-06 Pending — Metro Search MLS
• 2026-04-22 Listed $1 Metro Search MLS
• 2013-06-20 Sold (MLS) $70,000 Metro Search MLS
• 2013-05-28 Listed $74,900 Metro Search MLS
• 2013-05-25 Listing Removed — Metro Search MLS
• 2012-12-04 Listed $74,900 Metro Search MLS

Property tax history

+6.9%/yr

Latest (2025): $824 · -5.8% YoY. Source: county tax records.