3205 Virginia Ave · Louisville, KY 40211

$1

2 bd · 1.0 ba · 1,478 sqft · SingleFamily · 3 Days on market

Built 1920 6,800 sqft lot

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Why this score? — see what drove the F 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 +9.1/30.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

ONLINE AUCTION. ABSOLUTE REAL ESTATE AUCTION. ONLINE BIDDING ENDS 2PM EST JUNE 18, 2026. Great investment opportunity. 1,478 square foot home with a partial basement and open second floor. SOLD AS IS.

Key facts

• 6,800 sq ft lot
• Built 1920
• Listed 3 days

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Electricity connected
• Home design: Cape Cod style single-family home; 2 stories; Built in 1920
• Construction: Shingle roof; Concrete block foundation
• Exterior features: No fencing; Lot dimensions approximately 34 x 200

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms (one on the first floor, one on the second floor)
• Bathrooms: 1 full bathroom
• Interior features: 4 total rooms; Unfinished basement
• Laundry & utility: No first-floor laundry

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $147,800 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).

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 (+4.9%/yr); 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 43% of the median local income ($32k/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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

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

Risks & watch-outs

• Watch-outs: property tax is 221700.0% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $1

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.32%
• DSCR: 0.85
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $147,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1456 Beech St	0.48mi	3/1.5 (+1)	1,498 (+1%)	2mo	$130,000	$87	66
1219 S 32nd St	0.09mi	3/1.0 (+1)	1,617 (+9%)	12mo	$48,400	$30	65
3222 Dumesnil St	0.14mi	3/1.0 (+1)	1,334 (-10%)	11mo	$145,000	$109	63
1334 Cypress St	0.56mi	3/2.0 (+1)	1,491 (+1%)	2mo	$195,000	$131	62
1458 Olive St	0.65mi	2/2.0	1,460 (-1%)	2mo	$90,000	$62	62
3322 W Kentucky St	0.36mi	3/1.0 (+1)	1,296 (-12%)	2mo	$85,000	$66	56
1415 S 28th St	0.53mi	3/2.0 (+1)	1,384 (-6%)	2mo	$190,000	$137	54
817 S 36th St	0.59mi	3/2.0 (+1)	1,447 (-2%)	7mo	$144,000	$100	54
3002 Young Ave	0.64mi	3/2.5 (+1)	1,500 (+2%)	9mo	$215,000	$143	49
1356 Hemlock St	0.34mi	3/2.0 (+1)	1,316 (-11%)	9mo	$158,000	$120	49
1624 Hemlock Ct	0.71mi	3/1.0 (+1)	1,376 (-7%)	2mo	$32,500	$24	49
816 Dearborn Ave	0.68mi	3/2.0 (+1)	1,628 (+10%)	2mo	$63,500	$39	40

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: -19.8%
• Equity multiple: 0.30×
• Total profit: $-29,032
• Equity at exit: $22,037

10-year hold

• IRR: -9.1%
• Equity multiple: 0.39×
• Total profit: $-25,230
• Equity at exit: $12,779

Cash invested: $41,384 (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 40211

• Home prices YoY: -33.4%
• Rents YoY: 4.9%
• Active inventory: 140

Monthly cashflow live

• Estimated rent: $1,148 high
• Mortgage (P&I): −$775
• Tax est. 1.5%: −$185 /mo · $2,217/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $-115

Break-even live

Break-even rent $1,293

Max offer price $131,217

Occupancy floor —

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: $36,950
• Closing costs: $4,434
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3215 Virginia Ave Louisville, KY	3.0	1.0	975	$924	$0.95	23d	1	0.05mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	23d	1	0.12mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	21d	1	0.12mi
1145 Louis Coleman Jr Dr Louisville, KY	2.0	1.0	913	$875	$0.96	23d	1	0.16mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	10d	1	0.28mi
3514 Grand Ave Louisville, KY	3.0	1.5	1450	$1,295	$0.89	21d	1	0.34mi
3122 W Kentucky St Louisville, KY	3.0	1.0	1030	$1,150	$1.12	23d	1	0.35mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	15d	1	0.36mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	21d	1	0.38mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	23d	1	0.42mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	23d	1	0.42mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	23d	1	0.43mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	23d	1	0.43mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	20d	1	0.45mi
3611 Regatta Way Louisville, KY	3.0	1.0	1035	$1,450	$1.40	15d	1	0.46mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	23d	1	0.47mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	23d	1	0.47mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	23d	1	0.52mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	23d	1	0.55mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	23d	1	0.57mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	3d	1	0.57mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	23d	1	0.59mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	3d	1	0.61mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	23d	1	0.62mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	20d	1	0.66mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	23d	1	0.66mi
823 S 38th St Louisville, KY	3.0	1.0	1100	$1,195	$1.09	3d	1	0.71mi
1410 Standard Village Cir Louisville, KY	3.0	2.0	1200	$900	$0.75	23d	1	0.79mi
2223 Saint Louis Ave Louisville, KY	3.0	1.5	1152	$1,175	$1.02	23d	1	0.82mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	23d	1	0.82mi
666 Eastlawn Ave Louisville, KY	2.0	1.0	936	$895	$0.96	15d	1	0.83mi
836 S 41st St Louisville, KY	3.0	1.0	1300	$1,300	$1.00	19d	1	0.89mi
1804 Russell Lee Dr Louisville, KY	1.0–3.0	1.0–1.5	810	$1,124	$1.39	1d	1	0.92mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	15d	1	0.94mi
714 S 40th St #2 Louisville, KY	3.0	1.0	1000	$1,250	$1.25	23d	1	0.95mi
1854 W Ormsby Ave Louisville, KY	2.0	2.0	1094	$800	$0.73	15d	1	0.95mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	23d	1	0.96mi
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	15d	1	0.98mi
4221 Sunset Ave Louisville, KY	3.0	1.0	1075	$1,199	$1.12	23d	1	0.98mi
848 S 23rd St Louisville, KY	3.0	1.5	1050	$1,450	$1.38	23d	1	0.99mi

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 200-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 1/10 Low FEMA zone X (shaded) · 0% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,774
• − Mortgage interest: −$8,279
• − Property taxes: −$2,217
• − Insurance: −$739
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$4,300
• Taxable loss: −$3,964
• Est. tax savings @ 24.0%: +$951
• After-tax cash flow: $-424/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): 20,407
• Household income: $31,749
• Rent vs Own: 58.6% rent · 41.4% own
• Severe rent burden: 1483.0

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 (90%)
• Race & ethnicity: Black 90% White 5% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Italian 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: ▼ -88.22%
• Current HPI: 176.337
• Rent YoY: ▲ 4.87%
• 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

Property tax history

-9.1%/yr

Latest (2025): $253 · -13.7% YoY. Source: county tax records.