2216 Griffiths Ave · Louisville, KY 40212

$1

1 bd · 1.0 ba · 897 sqft · SingleFamily · 3 Days on market

Built 1900 2,700 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

ONLINE AUCTION. ABSOLUTE REAL ESTATE AUCTION. ONLINE BIDDING ENDS 2PM EST JUNE 18, 2026. A single family home 897 sq ft. A great opportunity to purchase as an investment property at your price. SOLD AS IS.

Key facts

• 2,700 sq ft lot
• Built 1900
• Listed 3 days

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Electricity connected
• Home design: Single-family shotgun-style home; 1 story
• Construction: Built in 1900; Shingle roof; Crawl space foundation
• Exterior features: Lot dimensions approximately 25 x 108; Lot about 0.06 acres; No basement

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 1 bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 3 total rooms; Living room on the first floor; First-floor laundry
• Laundry & utility: Laundry on the first floor

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $46,644 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($937 rent vs $1).
• Cap rate 17.0% 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; 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).
• This rent runs 31% 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 $5k of equity ($322 loan paydown + $5k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 69966.0% of price; flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $1

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.01% ✓
• Cap rate: 17.05%
• Cash-on-cash: 38.41%
• DSCR: 2.71
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $46,644
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
331 N 23rd St	0.06mi	2/1.0 (+1)	855 (-5%)	4mo	$105,000	$123	81
428 N 20th St	0.19mi	2/1.0 (+1)	894 (-0%)	7mo	$46,000	$51	80
314 N 21st St	0.15mi	1/1.0	791 (-12%)	1mo	$13,000	$16	72
1707 Baird St	0.50mi	2/1.0 (+1)	896 (-0%)	3mo	$45,000	$50	69
2230 Congress St	0.47mi	1/1.0	856 (-5%)	2mo	$38,500	$45	69
216 N 25th St	0.31mi	2/1.0 (+1)	840 (-6%)	6mo	$85,000	$101	65
2511 Bank St	0.33mi	2/1.0 (+1)	960 (+7%)	6mo	$10,000	$10	63
2214 Cedar St	0.61mi	2/1.0 (+1)	886 (-1%)	4mo	$46,000	$52	61
212 N 20th St	0.26mi	2/1.0 (+1)	987 (+10%)	7mo	$64,500	$65	60
1922 Bank St	0.24mi	2/1.0 (+1)	1,020 (+14%)	3mo	$110,950	$109	58
363 N 27th St	0.47mi	2/1.0 (+1)	972 (+8%)	6mo	$36,500	$38	54
2722 Slevin St	0.54mi	2/1.0 (+1)	984 (+10%)	5mo	$65,000	$66	49

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: 47.3%
• Equity multiple: 4.49×
• Total profit: $45,558
• Equity at exit: $42,021

10-year hold

• IRR: 40.0%
• Equity multiple: 9.61×
• Total profit: $112,471
• Equity at exit: $90,619

Cash invested: $13,060 (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

Monthly cashflow live

• Estimated rent: $937 high
• Mortgage (P&I): −$245
• Tax est. 1.5%: −$58 /mo · $700/yr
• Insurance: −$19
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $352

Break-even live

Break-even rent $492

Max offer price $46,644

Occupancy floor 57%

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: $11,661
• Closing costs: $1,399
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
331 N 23rd St Louisville, KY	2.0	1.0	855	$1,150	$1.35	17d	1	0.05mi
322 N 24th St Louisville, KY	2.0	1.0	950	$1,100	$1.16	16d	1	0.17mi
2132 Rowan St Louisville, KY	1.0–2.0	1.0–2.0	875	$820	$0.94	3d	4	0.21mi
519 N 20th St Louisville, KY	1.0	1.0	550	$795	$1.45	23d	1	0.29mi
451 N 25th St Unit Mk Louisville, KY	2.0	1.0	988	$875	$0.89	3d	1	0.29mi
2539 Bank St Unit 1 Louisville, KY	1.0	1.0	900	$750	$0.83	23d	1	0.40mi
200 N 18th St Unit 200-4 Louisville, KY	2.0	1.0	740	$775	$1.05	20d	1	0.41mi
112 N 18th St Louisville, KY	2.0	1.0	944	$1,050	$1.11	23d	1	0.44mi
220 Doctor W. J. Hodge St Unit 1 Louisville, KY	1.0	1.0	570	$700	$1.23	17d	1	0.45mi
500 N 17th St Apt 309 Louisville, KY	2.0	1.0	775	$1,200	$1.55	23d	1	0.46mi
500 N 17th St Unit 305 Louisville, KY	1.0	1.0	825	$1,100	$1.33	23d	1	0.46mi
500 N 17th St Unit 301 Louisville, KY	2.0	1.0	775	$1,200	$1.55	16d	1	0.46mi
353 N 27th St Louisville, KY	2.0	1.0	1100	$1,100	$1.00	23d	1	0.48mi
214 N 17th St Unit 2 Louisville, KY	1.0	1.0	800	$750	$0.94	14d	1	0.49mi
2510 Portland Ave Unit 206 Louisville, KY	2.0	1.0	615	$950	$1.54	23d	1	0.50mi
2510 Portland Ave Unit 203 Louisville, KY	2.0	1.0	625	$995	$1.59	3d	1	0.50mi
2717 Slevin St Louisville, KY	1.0	1.0	620	$725	$1.17	16d	1	0.53mi
2614 W Jefferson St Unit 2614-4 Louisville, KY	2.0	1.0	740	$795	$1.07	23d	1	0.64mi
2614 W Jefferson St Louisville, KY	1.0	1.0	633	$695	$1.10	20d	1	0.64mi
1622 W Market St Apt 104 Louisville, KY	1.0	1.5	771	$965	$1.25	23d	1	0.65mi
1612 W Market St Unit 2 Louisville, KY	2.0	2.0	900	$1,000	$1.11	23d	1	0.67mi
2718 W Jefferson St Unit 2718-3 Louisville, KY	1.0	1.0	633	$699	$1.10	23d	1	0.69mi
2718 W Jefferson St Louisville, KY	1.0	1.0	633	$699	$1.10	21d	1	0.69mi
2221 W Madison St Louisville, KY	2.0	1.0	1000	$1,350	$1.35	21d	1	0.73mi
2925 Slevin St Louisville, KY	2.0	1.0	896	$775	$0.86	3d	1	0.73mi
515 S 20th St Louisville, KY	2.0	1.0	1000	$995	$0.99	16d	1	0.73mi
2922 Bank St Unit 2 Louisville, KY	—	1.0	800	$900	$1.12	23d	1	0.76mi
2300 W Madison St Louisville, KY	2.0	1.0	900	$850	$0.94	23d	1	0.76mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	17d	1	0.85mi
2631 W Madison St Unit 2 Louisville, KY	2.0	1.0	928	$850	$0.92	23d	1	0.85mi
509 N 31st St Louisville, KY	2.0	1.0	800	$725	$0.91	16d	1	0.90mi
509 N 31st St Louisville, KY	2.0	1.0	800	$795	$0.99	23d	1	0.90mi
3120 Bank St Unit B Louisville, KY	2.0	1.0	750	$795	$1.06	23d	1	0.95mi
2411 Elliott Ave Louisville, KY	2.0	1.0	892	$895	$1.00	23d	1	0.98mi
521 N 33rd St Louisville, KY	1.0	1.0	650	$795	$1.22	23d	1	1.03mi
1700 Magazine St Unit 3 Louisville, KY	2.0	1.0	900	$1,150	$1.28	17d	1	1.03mi
2310 W Broadway Unit 1 Louisville, KY	1.0	1.0	1100	$975	$0.89	3d	1	1.06mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	16d	1	1.13mi
3124 Vermont Ave Louisville, KY	1.0	1.0	650	$699	$1.08	23d	1	1.15mi
3124 Vermont Ave Unit 3124-1 Louisville, KY	1.0	1.0	650	$695	$1.07	23d	1	1.15mi

Listing history 4 events

1. 2026-06-18
   days on market $1 Active 3 DOM
2. 2026-06-17
   days on market $1 Active 2 DOM
3. 2026-06-16
   remarks 206-char remark
4. 2026-06-16
   listed $1 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,246
• − Mortgage interest: −$2,613
• − Property taxes: −$700
• − Insurance: −$1,031
• − Repairs & maintenance: −$900
• − Management: −$900
• − Depreciation: −$1,357
• Taxable income: $3,746
• Est. tax owed @ 24.0%: −$899
• After-tax cash flow: $3,319/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