2306 W Burnett Ave · Louisville, KY 40210

$65,000

3 bd · 1.0 ba · 1,348 sqft · SingleFamily · 87 Days on market

Built 1910 4,050 sqft lot

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Why this score? — see what drove the A- 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 +7.5/15.0
• 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

Sold As-Is. Seller requires addendum upon acceptance of offer. Seller may take up to 1 week to respond to offer. Seller requires proof of funds letter or preapproval letter with all offers.

Key facts

• Brand new roof
• Eat in kitchen
• Bonus room

Tags

• BONUS ROOM
• EAT IN KITCHEN
• FULLY FENCED BACKYARD
• BRAND NEW ROOF

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Surface parking
• Utilities: Electricity connected; One HVAC unit
• Home design: Single-family residence, contemporary style; One story
• Construction: Built in 1910; Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: Cleared, level lot; Privacy, full, and chain-link fencing; Surface parking

Interior

• Kitchen: First-floor kitchen
• Bedrooms: Three bedrooms total, with two bedrooms on the first floor and a foyer on the first floor that could be used as a third bedroom; Primary bedroom on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Six total rooms; Three closets; No basement; No fireplaces
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/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: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.4% 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+, 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 87 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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 $10k; list at $65k implies a 570% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• 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 $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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: 1.84% ✓
• Cap rate: 16.42%
• Cash-on-cash: 36.17%
• DSCR: 2.61
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $145,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1415 S 28th St	0.34mi	3/2.0	1,384 (+3%)	2mo	$190,000	$137	74
1624 Hemlock Ct	0.50mi	3/1.0	1,376 (+2%)	2mo	$32,500	$24	71
1736 W Gaulbert Ave	0.52mi	3/1.0	1,326 (-2%)	4mo	$53,600	$40	69
1812 Wilson Ave	0.41mi	3/1.5	1,248 (-7%)	1mo	$135,000	$108	66
1458 Olive St	0.27mi	2/2.0 (-1)	1,460 (+8%)	2mo	$90,000	$62	62
1334 Cypress St	0.33mi	3/2.0	1,491 (+11%)	2mo	$195,000	$131	61
1448 Catalpa St	0.42mi	4/1.5 (+1)	1,507 (+12%)	1mo	$199,000	$132	53
1456 Beech St	0.57mi	3/1.5	1,498 (+11%)	2mo	$130,000	$87	51
2316 Greenwood Ave	0.71mi	2/1.0 (-1)	1,228 (-9%)	3mo	$80,000	$65	45
2202 W Oak St	0.49mi	4/2.0 (+1)	1,539 (+14%)	1mo	$170,500	$111	44
2205 Osage Ave	0.64mi	4/1.0 (+1)	1,516 (+12%)	2mo	$157,000	$104	43
1752 Dixdale Ave	0.73mi	3/3.0	1,500 (+11%)	5mo	$189,000	$126	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: 55.2%
• Equity multiple: 5.21×
• Total profit: $76,642
• Equity at exit: $58,557

10-year hold

• IRR: 50.8%
• Equity multiple: 12.75×
• Total profit: $213,841
• 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: 4.5×

Monthly cashflow live

• Estimated rent: $1,195 high
• Mortgage (P&I): −$341
• Tax from tax record: −$28 /mo · $333/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $549

Break-even live

Break-even rent $501

Max offer price $65,000

Occupancy floor 49%

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
1410 Standard Village Cir Louisville, KY	3.0	2.0	1200	$900	$0.75	23d	1	0.13mi
2223 Saint Louis Ave Louisville, KY	3.0	1.5	1152	$1,175	$1.02	23d	1	0.26mi
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	16d	1	0.31mi
1792 W Gaulbert Ave Louisville, KY	2.0	1.0	915	$950	$1.04	23d	1	0.38mi
1774 Bolling Ave Louisville, KY	3.0	2.0	1611	$1,300	$0.81	10d	1	0.39mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	16d	1	0.41mi
1545 Catalpa St Louisville, KY	4.0	1.5	1760	$1,545	$0.88	3d	1	0.41mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	20d	1	0.41mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	23d	1	0.47mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	23d	1	0.54mi
1714 W Hill St Louisville, KY	3.0	1.0	1050	$1,045	$1.00	23d	1	0.56mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	23d	1	0.58mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	23d	1	0.58mi
1708 W Gaulbert Ave Louisville, KY	3.0	1.0	936	$975	$1.04	23d	1	0.59mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	21d	1	0.59mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	10d	1	0.59mi
1155 S 28th St Unit 4 Louisville, KY	4.0	2.0	1010	$1,350	$1.34	23d	1	0.59mi
1622 Beech St Louisville, KY	4.0	1.0	1108	$1,445	$1.30	16d	1	0.60mi
2629 Olive St Louisville, KY	4.0	1.0	1120	$1,500	$1.34	23d	1	0.73mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	23d	1	0.77mi
1705 1/2 Hale Ave Louisville, KY	3.0	2.0	1257	$1,400	$1.11	10d	1	0.77mi
1148 S 17th St Unit 2 Louisville, KY	3.0	1.0	1000	$895	$0.90	23d	1	0.79mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	23d	1	0.85mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	23d	1	0.86mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	23d	1	0.86mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	23d	1	0.86mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	16d	1	0.86mi
1847 W Kentucky St Louisville, KY	2.0	1.0	1368	$895	$0.65	3d	1	0.87mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	23d	1	0.89mi
3215 Virginia Ave Louisville, KY	3.0	1.0	975	$924	$0.95	23d	1	0.90mi
1616 Gallagher St Louisville, KY	3.0	1.5	1056	$1,400	$1.33	23d	1	0.90mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	21d	1	0.91mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	23d	1	0.91mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	23d	1	0.92mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	20d	1	0.94mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	23d	1	0.94mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	3d	1	0.96mi
1644 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	900	$950	$1.06	23d	1	1.01mi
1723 W Kentucky St Unit 3 Louisville, KY	3.0	1.0	1200	$1,300	$1.08	23d	1	1.01mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	23d	1	1.01mi

Listing history 18 events

1. 2026-06-18
   days on market $65,000 Active 87 DOM
2. 2026-06-17
   days on market $65,000 Active 86 DOM
3. 2026-06-16
   days on market $65,000 Active 85 DOM
4. 2026-06-15
   days on market $65,000 Active 84 DOM
5. 2026-06-13
   days on market $65,000 Active 82 DOM
6. 2026-06-10
   days on market $65,000 Active 79 DOM
7. 2026-06-09
   days on market $65,000 Active 78 DOM
8. 2026-06-08
   days on market $65,000 Active 77 DOM
9. 2026-06-07
   days on market $65,000 Active 76 DOM
10. 2026-06-03
    days on market $65,000 Active 72 DOM
11. 2026-06-02
    days on market $65,000 Active 71 DOM
12. 2026-06-01
    days on market $65,000 Active 70 DOM
13. 2026-05-31
    days on market $65,000 Active 69 DOM
14. 2026-03-23
    listed $65,000 Active
15. 2026-02-06
    historical
16. 2026-01-30
    listed $49,000 Active
17. 2003-04-04
    soldstatus $9,700 189-char remark

    Show marketing remark (189 chars)

    Sold As-Is. Seller requires addendum upon acceptance of offer. Seller may take up to 1 week to respond to offer. Seller requires proof of funds letter or preapproval letter with all offers.

18. 2003-02-11
    listed $12,500 189-char remark

    Show marketing remark (189 chars)

    Sold As-Is. Seller requires addendum upon acceptance of offer. Seller may take up to 1 week to respond to offer. Seller requires proof of funds letter or preapproval letter with all offers.

ⓘ 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: $333 · $28/mo
• Projected year-2 tax: $559 · $47/mo
• Expected delta: +$226/yr (+$19/mo · 67.7%)

ⓘ 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 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: $14,344
• − Mortgage interest: −$3,641
• − Property taxes: −$333
• − Insurance: −$325
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$1,891
• Taxable income: $5,859
• Est. tax owed @ 24.0%: −$1,406
• After-tax cash flow: $5,177/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

+420.0% since first listed

5 events — show timeline

• 2026-03-23 Listed $65,000 Metro Search MLS
• 2026-02-06 Listing Removed — Metro Search MLS
• 2026-01-30 Listed $49,000 Metro Search MLS
• 2003-04-04 Sold (MLS) $9,700 Metro Search MLS
• 2003-02-11 Listed $12,500 Metro Search MLS

Property tax history

+4.1%/yr

Latest (2025): $333 · -1.9% YoY. Source: county tax records.