3723 Warren Ave · Louisville, KY 40215

$99,900

2 bd · 1.0 ba · 930 sqft · SingleFamily · 2 Days on market

Built 1956 3,899 sqft lot Est $168k · 41% 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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.1/10.0
• 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

Calling all investors! Home sold as-is with contents! This 2-bedroom, 1-bath home is packed with potential and ready for your vision. Whether you're looking for your next rental property, flip opportunity, or a value-add project, this home offers a great chance to build equity. Property needs some TLC but has solid potential with the right updates and improvements. Convenient location and endless possibilities make this one worth a look. Bring your ideas and make this investment opportunity shine!

Key facts

• 3,899 sq ft lot
• Garage
• Built 1956

Property features AI

Finance

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

Exterior

• Parking: Detached 1-car garage
• Utilities: Electricity connected
• Home design: Single-family ranch-style home; One story; Entry and primary living areas on the first floor
• Construction: Built in 1956; Wood frame construction; Shingle roof; Crawl space foundation
• Exterior features: Chain link fencing; Sidewalk; Level lot

Interior

• Kitchen: Eat-in kitchen; Dining area adjacent to kitchen
• Bedrooms: 2 bedrooms total; Primary bedroom on the first floor; Both bedrooms located on the first floor
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Total of 4 main rooms; 4 closets; No basement; Eat-in kitchen; Living room; Dining area
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 9.5% 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); 121 active listings in the ZIP; 40 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 31% 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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: flood insurance adds $66/mo; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.11% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.61%
• DSCR: 1.52
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $168,330
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3723 Warren Ave	0.00mi	2/1.0	930 (0%)	0mo	$90,000	$97	100
4618 N Rutland Ave	0.36mi	3/1.5 (+1)	988 (+6%)	1mo	$165,000	$167	65
518 W Evelyn Ave	0.58mi	2/1.0	856 (-8%)	1mo	$180,000	$210	59
553 Denmark St	0.49mi	2/1.0	842 (-10%)	3mo	$160,000	$190	59
4612 Bellevue Ave	0.36mi	2/1.0	806 (-13%)	3mo	$200,000	$248	58
3617 Woodruff Ave	0.49mi	2/1.0	825 (-11%)	1mo	$180,000	$218	58
3664 Kahlert Ave	0.62mi	2/1.0	850 (-9%)	2mo	$122,500	$144	55
3801 Craig Ave	0.74mi	3/2.0 (+1)	958 (+3%)	1mo	$198,900	$208	50
4000 Woodruff Ave	0.57mi	2/1.0	810 (-13%)	3mo	$147,000	$181	50
4116 S 3rd St	0.73mi	2/1.0	1,011 (+9%)	4mo	$75,000	$74	49
545 Denmark St	0.51mi	3/2.0 (+1)	1,040 (+12%)	4mo	$178,000	$171	44
510 Longfield Ave	0.69mi	2/1.0	800 (-14%)	2mo	$115,000	$144	43

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-707
• Equity at exit: $14,895

10-year hold

• IRR: 11.1%
• Equity multiple: 1.96×
• Total profit: $26,760
• Equity at exit: $8,638

Cash invested: $27,972 (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: 121
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,113 high
• Mortgage (P&I): −$524
• Tax from tax record: −$44 /mo · $522/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $204

Break-even live

Break-even rent $855

Max offer price $99,900

Occupancy floor 77%

Sensitivity live

Price	-10% $261	-5% $232	+0% $204	+5% $176	+10% $148
Rent	-10% $116	-5% $160	+0% $204	+5% $248	+10% $292
Rate	-1.0pp $254	-0.5pp $230	base $204	+0.5pp $178	+1.0pp $152

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1022 Stanley Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	22d	1	0.22mi
1105 Beecher St Louisville, KY	2.0	1.0	708	$1,150	$1.62	16d	1	0.25mi
554 Camden Ave Louisville, KY	1.0	1.0	661	$875	$1.32	24d	1	0.32mi
1118 W Whitney Ave Louisville, KY	2.0	1.0	771	$1,199	$1.56	24d	1	0.32mi
4501 S 6th St #82 Louisville, KY	1.0	1.0	538	$775	$1.44	17d	1	0.38mi
1111 Dresden Ave Louisville, KY	2.0	1.0	680	$1,100	$1.62	16d	1	0.55mi
4604 Southern Pkwy Louisville, KY	1.0	1.0	780	$800	$1.03	4d	1	0.57mi
623 Dresden Ave Louisville, KY	2.0	1.0	750	$975	$1.30	16d	1	0.59mi
615 Dresden Ave Louisville, KY	3.0	1.0	884	$1,450	$1.64	24d	1	0.60mi
3655 Kahlert Ave Louisville, KY	2.0	1.0	915	$1,300	$1.42	12d	1	0.62mi
4012 Southern Pkwy Unit 5 Louisville, KY	1.0	1.0	600	$795	$1.32	24d	1	0.63mi
4012 Southern Pkwy Unit 8 Louisville, KY	1.0	1.0	600	$795	$1.32	15d	1	0.63mi
309 W Whitney Ave Louisville, KY	1.0	1.0	700	$875	$1.25	24d	1	0.63mi
4046 Taylor Blvd Unit 2 Louisville, KY	2.0	1.0	800	$900	$1.12	24d	1	0.63mi
4626 Southern Pkwy Louisville, KY	1.0–2.0	1.0	809	$895	$1.11	15d	3	0.64mi
3746 Kahlert Ave Louisville, KY	3.0	1.0	955	$1,350	$1.41	16d	1	0.64mi
218 W Florence Ave Unit 2 Louisville, KY	1.0	1.0	800	$765	$0.96	4d	1	0.66mi
3717 Wheeler Ave Louisville, KY	3.0	2.0	1124	$1,450	$1.29	24d	1	0.68mi
4704 Southern Pkwy Unit A1 Louisville, KY	1.0	1.0	750	$775	$1.03	17d	1	0.68mi
4619 Southern Pkwy Unit 3 Louisville, KY	1.0	1.0	700	$975	$1.39	2d	1	0.69mi
4608 S 3rd St Unit 1st Floor Louisville, KY	2.0	1.5	1100	$1,500	$1.36	24d	1	0.70mi
3909 Southern Pkwy Unit 2 Louisville, KY	3.0	1.0	1000	$1,100	$1.10	4d	1	0.74mi
3860 Southern Pkwy Louisville, KY	3.0	1.0	1064	$1,250	$1.17	24d	1	0.74mi
1411 Sale Ave Louisville, KY	2.0	1.0	936	$1,000	$1.07	16d	1	0.82mi
118 E Ashland Ave Louisville, KY	2.0	1.5	910	$1,200	$1.32	24d	1	0.85mi
119 E Southern Heights Ave Louisville, KY	3.0	1.0	1000	$1,250	$1.25	24d	1	0.86mi
4406 S Brook St Apt 27 Louisville, KY	2.0	2.0	1080	$1,295	$1.20	12d	1	0.86mi
114 E Florence Ave Unit 19 Louisville, KY	2.0	2.0	1080	$1,295	$1.20	16d	1	0.87mi
114 E Florence Ave Apt 21 Louisville, KY	2.0	1.0	936	$1,275	$1.36	24d	1	0.87mi
3627 Parthenia Ave Louisville, KY	3.0	1.0	900	$1,245	$1.38	24d	1	0.91mi
3449 Powell Ave Louisville, KY	2.0	1.0	800	$1,000	$1.25	24d	1	0.92mi
4122 Craig Ave Louisville, KY	2.0	1.0	705	$1,051	$1.49	12d	1	0.92mi
4000 Churchman Ave Louisville, KY	3.0	1.0	1000	$1,200	$1.20	16d	1	0.92mi
4228 Allmond Ave Unit 2 Louisville, KY	1.0	1.0	650	$700	$1.08	3d	1	0.94mi
4113 La Salle Ave Louisville, KY	2.0	1.0	875	$1,249	$1.43	16d	1	0.95mi
4818 S 3rd St Unit 2 Louisville, KY	1.0	1.0	800	$800	$1.00	12d	1	0.98mi
3700 Georgetown Pl Louisville, KY	2.0	1.0	800	$901	$1.13	24d	1	0.98mi
3700 Georgetown Pl Unit 2302-201 Louisville, KY	2.0	1.0	800	$901	$1.13	12d	1	0.98mi
3523 Georgetown Pl #3 Louisville, KY	2.0	1.0	850	$850	$1.00	17d	1	1.00mi
3513 Georgetown Pl Unit 3 Louisville, KY	2.0	1.0	800	$949	$1.19	24d	1	1.01mi

Listing history 4 events

1. 2026-06-02
   status $99,900 Pending 2 DOM
2. 2026-06-01
   days on market $99,900 Active 2 DOM
3. 2026-05-31
   remarks 502-char remark
4. 2026-05-31
   listed $99,900 Active 1 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: $522 · $44/mo
• Projected year-2 tax: $859 · $72/mo
• Expected delta: +$337/yr (+$28/mo · 64.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 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: $13,362
• − Mortgage interest: −$5,596
• − Property taxes: −$522
• − Insurance: −$1,297
• − Repairs & maintenance: −$1,069
• − Management: −$1,069
• − Depreciation: −$2,906
• Taxable income: $902
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $2,233/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

+42.7% since first listed

3 events — show timeline

• 2026-05-30 Listed $99,900 Metro Search MLS
• 2006-08-31 Listing Removed — Metro Search MLS
• 2006-05-25 Listed $70,000 Metro Search MLS

Property tax history

-3.7%/yr

Latest (2025): $522 · -8.0% YoY. Source: county tax records.