216 N 37th St · Louisville, KY 40212

$79,900

2 bd · 1.0 ba · 700 sqft · SingleFamily · 12 Days on market

Built 1951 5,576 sqft lot Est $65k · 23% over

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Why this score? — see what drove the C+ 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 +27.8/30.0
• Appreciation +10.0/10.0
• DSCR +9.8/10.0
• 1% rule +6.7/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Quaint two bedroom vinyl sided ranch with tile floor in eat-in kitchen and bath, and a deep back yard. Low maintenance exterior. Additional storage in attic. Insulated windows. SOLD AS-IS! Pre-approval letter or proof of funds & min. $1000 good faith deposit required with all offers. Cashier's check (no money orders) required w/accepted offer. Special warranty deed. This property is eligible under the Freddie Mac First Look Initiative through 8-17. Only offers from owner-occupants or agencies using public funds will be considered in the 1st 20 days of the listing. AGENTS: PLEASE READ AGENT NOTES.

Key facts

• 5,576 sq ft lot
• Parking
• Built 1951

Property features AI

Finance

• Other: Located in the GREENBRIAR subdivision
• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family ranch-style home; 1 story
• Construction: Built in 1951; Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: Sidewalk

Interior

• Kitchen: Kitchen on the first floor; Eat-in kitchen
• Bedrooms: 2 bedrooms, both on the first floor
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: 5 total rooms; 3 closets; No basement; Living room on the first floor; Eat-in kitchen
• Laundry & utility: Laundry room on the first floor; First-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($939 rent vs $80k).
• Cap rate 10.0% 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 flat; 140 active listings in the ZIP; 29 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).
• This rent runs 32% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($552 loan paydown + $8k 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 + 0.5% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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 $14k; list at $80k implies a 451% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $79,900

Questions for the listing agent

1. Built in 1951 — 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: 1.17% ✓
• Cap rate: 9.95%
• Cash-on-cash: 13.08%
• DSCR: 1.58
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $65,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 N 37th St	0.00mi	2/1.0	700 (0%)	1mo	$65,000	$93	99
219 N 37th St	0.03mi	2/1.0	700 (0%)	9mo	$69,000	$99	91
333 N 38th St	0.18mi	2/1.0	734 (+5%)	15mo	$137,500	$187	71
358 N 42nd St	0.36mi	2/1.0	672 (-4%)	11mo	$47,750	$71	68
401 N 42nd St	0.35mi	2/1.0	780 (+11%)	12mo	$69,000	$88	54
104 N 40th St	0.26mi	2/1.0	768 (+10%)	21mo	$78,000	$102	54
3438 W Jefferson St	0.44mi	2/1.0	660 (-6%)	20mo	$48,800	$74	53
3120 W Jefferson St	0.60mi	1/1.0 (-1)	731 (+4%)	9mo	$89,000	$122	52
415 N 38th St	0.26mi	2/1.0	783 (+12%)	23mo	$66,298	$85	49
128 N 43rd St	0.44mi	2/1.0	638 (-9%)	24mo	$73,000	$114	45
3831 W Muhammad Ali Blvd	0.63mi	3/1.0 (+1)	760 (+9%)	10mo	$60,000	$79	43
3626 Vermont Ave	0.72mi	1/1.0 (-1)	736 (+5%)	23mo	$22,000	$30	34

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 · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 30.2%
• Equity multiple: 3.35×
• Total profit: $52,535
• Equity at exit: $71,980

10-year hold

• IRR: 25.4%
• Equity multiple: 7.33×
• Total profit: $141,672
• Equity at exit: $155,228

Cash invested: $22,372 (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 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 140
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $939 high
• Mortgage (P&I): −$419
• Tax from tax record: −$45 /mo · $545/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $177

Break-even live

Break-even rent $714

Max offer price $79,900

Occupancy floor 76%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
219 N 37th St Louisville, KY	2.0	1.0	700	$1,150	$1.64	23d	1	0.02mi
103 N 38th St Apt 4 Louisville, KY	1.0	1.0	625	$950	$1.52	17d	1	0.19mi
3416 W Main St Louisville, KY	1.0	1.0	667	$825	$1.24	23d	1	0.29mi
111 Hansbrough Pl Unit 101 Louisville, KY	1.0	1.0	686	$890	$1.30	23d	1	0.30mi
112 Boston Ct Louisville, KY	1.0	1.0	650	$800	$1.23	23d	1	0.40mi
127 Boston Ct Louisville, KY	2.0	1.0	725	$1,100	$1.52	23d	1	0.42mi
4143 W Market St Unit 2 Louisville, KY	2.0	1.0	700	$850	$1.21	23d	1	0.45mi
115 N 46th St Unit 2 Louisville, KY	1.0	1.0	650	$750	$1.15	23d	1	0.66mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	23d	1	0.70mi
521 N 33rd St Louisville, KY	1.0	1.0	650	$795	$1.22	23d	1	0.73mi
4018 Vermont Ave Unit 1 Louisville, KY	2.0	1.0	700	$699	$1.00	3d	1	0.78mi
2717 Slevin St Louisville, KY	1.0	1.0	620	$725	$1.17	16d	1	0.81mi
3124 Vermont Ave Louisville, KY	1.0	1.0	650	$699	$1.08	23d	1	0.84mi
3124 Vermont Ave Unit 3124-1 Louisville, KY	1.0	1.0	650	$695	$1.07	23d	1	0.84mi
2718 W Jefferson St Unit 2718-3 Louisville, KY	1.0	1.0	633	$699	$1.10	23d	1	0.94mi
2718 W Jefferson St Louisville, KY	1.0	1.0	633	$699	$1.10	21d	1	0.94mi
2722 Portland Ave Unit 1 Louisville, KY	1.0	1.0	500	$950	$1.90	23d	1	1.00mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	23d	1	1.01mi
2614 W Jefferson St Louisville, KY	1.0	1.0	633	$695	$1.10	20d	1	1.01mi
691 Madelon Ct Louisville, KY	1.0	1.0	650	$675	$1.04	11d	1	1.05mi
4309 Elliott Ave Unit 1 Louisville, KY	2.0	1.0	750	$695	$0.93	23d	1	1.14mi
4309 Elliott Ave Unit 1 Louisville, KY	2.0	1.0	750	$650	$0.87	3d	1	1.14mi
2510 Portland Ave Unit 206 Louisville, KY	2.0	1.0	615	$950	$1.54	23d	1	1.16mi
2510 Portland Ave Unit 203 Louisville, KY	2.0	1.0	625	$995	$1.59	3d	1	1.16mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	3d	1	1.41mi
3515 W Kentucky St Unit 3515-12 Louisville, KY	1.0	1.0	700	$695	$0.99	23d	1	1.44mi
1201 Dewey St #3 New Albany, IN	1.0	1.0	700	$775	$1.11	17d	1	1.44mi
220 Doctor W. J. Hodge St Unit 1 Louisville, KY	1.0	1.0	570	$700	$1.23	17d	1	1.47mi
121 E 14th St Unit 2 New Albany, IN	1.0	1.0	650	$825	$1.27	20d	1	1.49mi

Listing history 7 events

1. 2026-05-05
   status Pending
2. 2026-04-17
   listed $79,900 Active
3. 2016-08-17
   soldstatus $14,500 Closed 608-char remark

   Show marketing remark (608 chars)

   Quaint two bedroom vinyl sided ranch with tile floor in eat-in kitchen and bath, and a deep back yard. Low maintenance exterior. Additional storage in attic. Insulated windows. SOLD AS-IS! Pre-approval letter or proof of funds & min. $1000 good faith deposit required with all offers. Cashier's check (no money orders) required w/accepted offer. Special warranty deed. This property is eligible under the Freddie Mac First Look Initiative through 8-17. Only offers from owner-occupants or agencies using public funds will be considered in the 1st 20 days of the listing. AGENTS: PLEASE READ AGENT NOTES.

4. 2016-08-09
   status Pending 608-char remark

   Show marketing remark (608 chars)

   Quaint two bedroom vinyl sided ranch with tile floor in eat-in kitchen and bath, and a deep back yard. Low maintenance exterior. Additional storage in attic. Insulated windows. SOLD AS-IS! Pre-approval letter or proof of funds & min. $1000 good faith deposit required with all offers. Cashier's check (no money orders) required w/accepted offer. Special warranty deed. This property is eligible under the Freddie Mac First Look Initiative through 8-17. Only offers from owner-occupants or agencies using public funds will be considered in the 1st 20 days of the listing. AGENTS: PLEASE READ AGENT NOTES.

5. 2016-07-29
   listed $14,900 Active 608-char remark

   Show marketing remark (608 chars)

   Quaint two bedroom vinyl sided ranch with tile floor in eat-in kitchen and bath, and a deep back yard. Low maintenance exterior. Additional storage in attic. Insulated windows. SOLD AS-IS! Pre-approval letter or proof of funds & min. $1000 good faith deposit required with all offers. Cashier's check (no money orders) required w/accepted offer. Special warranty deed. This property is eligible under the Freddie Mac First Look Initiative through 8-17. Only offers from owner-occupants or agencies using public funds will be considered in the 1st 20 days of the listing. AGENTS: PLEASE READ AGENT NOTES.

6. 2005-10-20
   soldstatus $20,000 138-char remark

   Show marketing remark (138 chars)

   Property sold in as is condition with no warranties, expressed or implied. Please submit preapproval letters or proof of funds with offer.

7. 2005-06-07
   listed $24,900 138-char remark

   Show marketing remark (138 chars)

   Property sold in as is condition with no warranties, expressed or implied. Please submit preapproval letters or proof of funds with offer.

ⓘ 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: $545 · $45/mo
• Projected year-2 tax: $687 · $57/mo
• Expected delta: +$142/yr (+$12/mo · 26.1%)

ⓘ 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 · 77% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,263
• − Mortgage interest: −$4,476
• − Property taxes: −$545
• − Insurance: −$1,197
• − Repairs & maintenance: −$901
• − Management: −$901
• − Depreciation: −$2,324
• Taxable income: $919
• Est. tax owed @ 24.0%: −$221
• After-tax cash flow: $1,907/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): 14,661
• Household income: $35,753
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1148.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 37% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 1% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▲ 29.02%
• Current HPI: 293.2624
• Rent YoY: ▲ 0.51%
• 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

+220.9% since first listed

7 events — show timeline

• 2026-05-05 Pending — Metro Search MLS
• 2026-04-17 Listed $79,900 Metro Search MLS
• 2016-08-17 Sold (MLS) $14,500 Metro Search MLS
• 2016-08-09 Pending — Metro Search MLS
• 2016-07-29 Listed $14,900 Metro Search MLS
• 2005-10-20 Sold (MLS) $20,000 Metro Search MLS
• 2005-06-07 Listed $24,900 Metro Search MLS

Property tax history

+5.9%/yr

Latest (2025): $545 · -1.9% YoY. Source: county tax records.