3522 Georgetown Pl · Louisville, KY 40215

$299,900

8 bd · 4.0 ba · 3,430 sqft · MultiFamily · 10 Days on market

Built 1964 7,413 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great Quadraplex, with all units currently rented. All appliances remain. Nice sized utility rooms. All units have 2 Bedrooms and 1 Bath. Great cash flow!

Key facts

• Spacious lot
• Solid brick quadplex
• Off-street parking

Tags

• SOLID BRICK QUADPLEX
• SPACIOUS LOT
• OFF-STREET PARKING
• RECENTLY UPDATED UNITS
• UTILITY ROOMS
• CLOSE TO MAJOR ROUTES

Property features AI

Finance

• Financial info: Tenant pays cable, electric, and gas; owner pays water, sewer, and trash removal
• HOA & community: No association fee

Exterior

• Parking: 4 parking spaces (not covered)
• Utilities: Electricity connected; Natural gas service; Four furnaces
• Home design: Multi-unit property (2 units); Entry level includes first and second floors
• Construction: Built in 1964; Brick construction; Shingle roof
• Exterior features: Sidewalk

Interior

• Kitchen: Two kitchens on the first level; Two kitchens on the second level; Ranges included (2 on first level, 2 on second level); Refrigerators included (2 on first level, 2 on second level)
• Bedrooms: 8 total bedrooms (4 on the first level, 4 on the second level)
• Bathrooms: 4 full bathrooms (2 on the first level, 2 on the second level)
• Interior features: Multi-unit with separate meters
• Laundry & utility: Laundry in both units (2 on first level, 2 on second level)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $361/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Cap rate 12.1% 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; lower-income renter base — watch delinquency; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• At $4,360/mo this rent would consume 120% 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 $2k of loan paydown is wiped out by about $9k 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 $84k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 25y 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.
• Current owner paid $105k; list at $300k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $299,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.45% ✓
• Cap rate: 12.07%
• Cash-on-cash: 20.64%
• DSCR: 1.92
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.16% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 1.63×
• Total profit: $53,094
• Equity at exit: $44,716

10-year hold

• IRR: 25.5%
• Equity multiple: 3.46×
• Total profit: $206,288
• Equity at exit: $25,930

Cash invested: $83,972 (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: 119
• Price-to-rent: 22.9×

Monthly cashflow live

• Estimated rent: $4,360 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$302 /mo · $3,629/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$916
• Net cashflow: $1,444

Break-even live

Break-even rent $2,532

Max offer price $299,900

Occupancy floor 62%

Sensitivity live

Price	-10% $1,614	-5% $1,529	+0% $1,444	+5% $1,359	+10% $1,275
Rent	-10% $1,100	-5% $1,272	+0% $1,444	+5% $1,617	+10% $1,789
Rate	-1.0pp $1,595	-0.5pp $1,521	base $1,444	+0.5pp $1,367	+1.0pp $1,288

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,360
Total (4 units)			$4,360

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $299,900 Active 10 DOM
2. 2026-06-18
   days on market $299,900 Active 7 DOM
3. 2026-06-17
   days on market $299,900 Active 6 DOM
4. 2026-06-16
   days on market $299,900 Active 5 DOM
5. 2026-06-15
   days on market $299,900 Active 4 DOM
6. 2026-06-13
   remarks 693-char remark
7. 2026-06-13
   listed $299,900 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: $3,629 · $302/mo
• Projected year-2 tax: $3,629 · $302/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $52,320
• − Mortgage interest: −$16,799
• − Property taxes: −$3,629
• − Insurance: −$1,500
• − Repairs & maintenance: −$4,186
• − Management: −$4,186
• − Depreciation: −$8,724
• Taxable income: $13,297
• Est. tax owed @ 24.0%: −$3,191
• After-tax cash flow: $14,141/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

+149.9% since first listed

17 events — show timeline

• 2026-06-11 Listed $299,900 Metro Search MLS
• 2014-04-24 Sold (Public Records) $105,450 Public Records
• 2014-04-21 Listing Removed — Metro Search MLS
• 2014-04-11 Sold (MLS) $105,450 Metro Search MLS
• 2013-12-13 Listed $115,000 Metro Search MLS
• 2007-08-27 Sold (Public Records) $35,000 Public Records
• 2007-08-27 Sold (Public Records) $20,000 Public Records
• 2006-07-18 Listing Removed — Metro Search MLS
• 2006-07-08 Listed $124,900 Metro Search MLS
• 2006-06-09 Sold (Public Records) $105,000 Public Records
• 2006-05-28 Listing Removed — Metro Search MLS
• 2006-03-28 Listed $99,000 Metro Search MLS
• 2006-02-17 Sold (Public Records) $88,000 Public Records
• 2006-02-09 Sold (MLS) $88,000 Metro Search MLS
• 2006-01-23 Listed $86,900 Metro Search MLS
• 2002-05-21 Sold (MLS) $98,000 Metro Search MLS
• 2001-12-10 Listed $120,000 Metro Search MLS

Property tax history

+14.8%/yr

Latest (2025): $3,629 · -1.9% YoY. Source: county tax records.