1815 Wilson Ave · Louisville, KY 40210

$65,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily · 256 Days on market

Built 1920 3,733 sqft lot Est $64k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +6.4/15.0
• 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

INVESTMENT OPPORTUNITY. PROPERTY BEING SOLD ''AS IS''. ALL OFFERS MUST BE ACCOMPANIED BY BUYER CREDIT APPROVAL OR LOAN APPROVAL IN WRITING OR PROOF OF FUNDS. LENDER PREQUALIFICATION LETTER DOES NOT CONSTITUTE AN ACCEPTABLE DOCUMENT.

Key facts

• Near bus line
• Conveniently located
• 3,733 sq ft lot

Tags

• RENTAL INVESTMENT PORTFOLIO
• CONVENIENTLY LOCATED
• NEAR BUS LINE
• MINUTES FROM DOWNTOWN

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: No off-street parking listed
• Utilities: Electricity connected; Natural gas service
• Home design: Single-family residence (Shotgun style); 1 story; Built in 1920; Shingle roof; Vinyl siding
• Construction: Constructed with vinyl siding; Shingle roof; Year built: 1920; Foundation: information not provided
• Exterior features: Privacy fencing; Cleared lot

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: 2 bedrooms, both on the first floor
• Bathrooms: 1 full bathroom (first floor)
• Heating & cooling: Natural gas heating; Central air conditioning; 1 HVAC unit
• Interior features: Total of 5 rooms; 2 closets; Basement: none; Living room on the first floor; Kitchen on the first floor; Full bathroom on the first floor; First-floor laundry
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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); 91 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $7k of equity ($449 loan paydown + $6k 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 $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, 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 256 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago; this cycle's ask has dropped $30k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 256 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: 1.67% ✓
• Cap rate: 14.62%
• Cash-on-cash: 29.73%
• DSCR: 2.32
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $63,504
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1712 Saint Louis Ave	0.21mi	2/1.0	1,072 (+6%)	4mo	$45,000	$42	76
1320 S 17th St	0.33mi	3/2.0 (+1)	1,003 (-0%)	3mo	$118,000	$118	72
2108 Bolling Ave	0.44mi	3/1.0 (+1)	1,011 (+0%)	7mo	$52,000	$51	68
2130 W Gaulbert Ave	0.57mi	2/1.0	982 (-3%)	3mo	$60,000	$61	66
1601 Prentice St	0.61mi	3/1.0 (+1)	1,009 (+0%)	1mo	$93,999	$93	65
2307 Woodland Ave	0.30mi	1/1.0 (-1)	940 (-7%)	7mo	$17,000	$18	64
2306 Standard Ave	0.38mi	2/1.0	900 (-11%)	4mo	$38,000	$42	60
2615 Greenwood Ave	0.66mi	3/1.0 (+1)	988 (-2%)	3mo	$71,000	$72	59
1714 Bolling Ave	0.46mi	3/2.0 (+1)	1,068 (+6%)	4mo	$110,000	$103	56
2645 Grand Ave	0.65mi	2/1.0	926 (-8%)	3mo	$62,000	$67	53
848 S 23rd St	0.72mi	3/2.0 (+1)	1,029 (+2%)	6mo	$64,750	$63	49
1331 S 28th St	0.64mi	3/1.5 (+1)	1,152 (+14%)	6mo	$60,000	$52	35

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: 49.8%
• Equity multiple: 4.84×
• Total profit: $69,824
• Equity at exit: $58,557

10-year hold

• IRR: 45.5%
• Equity multiple: 11.83×
• Total profit: $197,190
• Equity at exit: $126,281

Cash invested: $18,200 (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: 91
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,082 high
• Mortgage (P&I): −$341
• Tax from tax record: −$36 /mo · $436/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $451

Break-even live

Break-even rent $512

Max offer price $65,000

Occupancy floor 53%

Sensitivity live

Price	-10% $488	-5% $469	+0% $451	+5% $432	+10% $414
Rent	-10% $365	-5% $408	+0% $451	+5% $494	+10% $536
Rate	-1.0pp $484	-0.5pp $467	base $451	+0.5pp $434	+1.0pp $417

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	16d	1	0.07mi
1333 S 22nd St Louisville, KY	2.0	1.0	744	$1,200	$1.61	24d	1	0.09mi
2223 Saint Louis Ave Louisville, KY	3.0	1.5	1152	$1,175	$1.02	24d	1	0.22mi
1710 Saint Louis Ave Louisville, KY	2.0	1.0	720	$1,000	$1.39	3d	1	0.23mi
1410 Standard Village Cir Louisville, KY	3.0	2.0	1200	$900	$0.75	24d	1	0.34mi
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	11d	1	0.35mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	24d	1	0.36mi
1305 S 17th St Louisville, KY	2.0	1.0	750	$950	$1.27	24d	1	0.37mi
1842 Bolling Ave Louisville, KY	1.0	1.0	900	$895	$0.99	15d	1	0.42mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	24d	1	0.47mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	24d	1	0.47mi
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	3d	1	0.50mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	24d	1	0.53mi
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	24d	1	0.53mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	24d	1	0.58mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	24d	1	0.58mi
1644 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	900	$950	$1.06	24d	1	0.58mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	24d	1	0.58mi
1723 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	1200	$1,300	$1.08	24d	1	0.59mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	20d	1	0.61mi
2807 Dumesnil St Unit 101 Louisville, KY	1.0	1.0	750	$950	$1.27	24d	1	0.66mi
2513 Date St Unit 2 Louisville, KY	1.0	1.0	700	$745	$1.06	3d	1	0.67mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	24d	1	0.68mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	24d	1	0.69mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	24d	1	0.71mi
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	16d	1	0.72mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	11d	1	0.75mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	24d	1	0.75mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	24d	1	0.78mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	24d	1	0.79mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	20d	1	0.79mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	24d	1	0.82mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	24d	1	0.83mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	24d	1	0.83mi
1816 Gregg Ave Louisville, KY	2.0	2.0	773	$1,100	$1.42	16d	1	0.84mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	3d	1	0.84mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	16d	1	0.86mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	24d	1	0.86mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	21d	1	0.89mi
2310 W Broadway Unit 1 Louisville, KY	1.0	1.0	1100	$975	$0.89	3d	1	0.97mi

Listing history 26 events

1. 2026-06-18
   days on market $65,000 Active 256 DOM
2. 2026-06-17
   days on market $65,000 Active 255 DOM
3. 2026-06-16
   days on market $65,000 Active 254 DOM
4. 2026-06-15
   days on market $65,000 Active 253 DOM
5. 2026-06-13
   days on market $65,000 Active 251 DOM
6. 2026-06-10
   days on market $65,000 Active 248 DOM
7. 2026-06-09
   days on market $65,000 Active 247 DOM
8. 2026-06-08
   days on market $65,000 Active 246 DOM
9. 2026-06-07
   days on market $65,000 Active 245 DOM
10. 2026-06-03
    days on market $65,000 Active 241 DOM
11. 2026-06-02
    days on market $65,000 Active 240 DOM
12. 2026-06-01
    days on market $65,000 Active 239 DOM
13. 2026-05-31
    days on market $65,000 Active 238 DOM
14. 2026-05-15
    price $65,000
15. 2026-02-26
    price $69,000
16. 2026-01-17
    price $75,000
17. 2025-10-22
    price $80,000
18. 2025-10-20
    status Active
19. 2025-10-15
    historical
20. 2025-09-30
    listed $95,000 Active
21. 2006-10-10
    soldstatus $53,200
22. 2006-06-21
    listed $50,000
23. 2004-04-09
    soldstatus $10,000 232-char remark

    Show marketing remark (232 chars)

    INVESTMENT OPPORTUNITY. PROPERTY BEING SOLD ''AS IS''. ALL OFFERS MUST BE ACCOMPANIED BY BUYER CREDIT APPROVAL OR LOAN APPROVAL IN WRITING OR PROOF OF FUNDS. LENDER PREQUALIFICATION LETTER DOES NOT CONSTITUTE AN ACCEPTABLE DOCUMENT.

24. 2003-04-29
    listed $12,056 232-char remark

    Show marketing remark (232 chars)

    INVESTMENT OPPORTUNITY. PROPERTY BEING SOLD ''AS IS''. ALL OFFERS MUST BE ACCOMPANIED BY BUYER CREDIT APPROVAL OR LOAN APPROVAL IN WRITING OR PROOF OF FUNDS. LENDER PREQUALIFICATION LETTER DOES NOT CONSTITUTE AN ACCEPTABLE DOCUMENT.

25. 2001-07-30
    historical
26. 2001-04-30
    listed $25,000

ⓘ 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: $436 · $36/mo
• Projected year-2 tax: $559 · $47/mo
• Expected delta: +$123/yr (+$10/mo · 28.1%)

ⓘ 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: $12,990
• − Mortgage interest: −$3,641
• − Property taxes: −$436
• − Insurance: −$325
• − Repairs & maintenance: −$1,039
• − Management: −$1,039
• − Depreciation: −$1,891
• Taxable income: $4,618
• Est. tax owed @ 24.0%: −$1,108
• After-tax cash flow: $4,302/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

+160.0% since first listed

13 events — show timeline

• 2026-05-15 Price Changed $65,000 Metro Search MLS
• 2026-02-26 Price Changed $69,000 Metro Search MLS
• 2026-01-17 Price Changed $75,000 Metro Search MLS
• 2025-10-22 Price Changed $80,000 Metro Search MLS
• 2025-10-20 Relisted — Metro Search MLS
• 2025-10-15 Listing Removed — Metro Search MLS
• 2025-09-30 Listed $95,000 Metro Search MLS
• 2006-10-10 Sold (Public Records) $53,200 Public Records
• 2006-06-21 Listed $50,000 Metro Search MLS
• 2004-04-09 Sold (MLS) $10,000 Metro Search MLS
• 2003-04-29 Listed $12,056 Metro Search MLS
• 2001-07-30 Listing Removed — Metro Search MLS
• 2001-04-30 Listed $25,000 Metro Search MLS

Property tax history

+17.8%/yr

Latest (2025): $436 · -1.9% YoY. Source: county tax records.