2823 W Main St · Louisville, KY 40212

$94,900

5 bd · 2.0 ba · 1,920 sqft · SingleFamily · 70 Days on market

Built 1900 Good condition 4,966 sqft lot $49/sqft · 31% below area Est $139k · 31% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Schools +2.1/10.0

Listing remarks MLS

Located along the historic West Main Street corridor in Louisville, 2823 W Main St offers a spacious property with convenient access to many of the city's well-known destinations. Just minutes from downtown attractions like the Louisville Slugger Museum & Factory, Whiskey Row, and the scenic green spaces of Waterfront Park, the location provides easy connectivity to dining, entertainment, and cultural landmarks throughout the city. The home features 5 bedrooms and 2 full bathrooms, offering a flexible layout with generous living space suitable for a variety of living arrangements. Inside, the floor plan allows for comfortable everyday living and room to spread out, while outside the large yard provides ample outdoor space for recreation, gardening, or relaxing. With its combination of size location, and access to central Louisville amenities, this property presents a versatile opportunity for homeowners or investors seeking a well-located residence with plenty of space.

Key facts

• 4,966 sq ft lot
• Built 1900
• Listed 70 days

Tags

• HISTORIC PORTLAND NEIGHBORHOOD
• ACCESS TO WATERFRONT PARK
• ACCESS TO WHISKEY ROW

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $95k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.

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+, crime F.
• 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.
• Zoned schools: Atkinson Academy (math 8% / reading 12%, grade F, #648 of 676 statewide, top 98%, 327 students, 88% FRL); Crosby Middle (math 32% / reading 49%, grade F, #57 of 217 statewide, top 26%, 1,016 students, 46% FRL).
• Market conditions: Rents flat; 204 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $10k of equity ($656 loan paydown + $9k 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $89,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 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 1900 — 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: 1.67% ✓
• Cap rate: 13.29%
• Cash-on-cash: 25.00%
• DSCR: 2.11
• GRM: 5.0

CMA / ARV

• ARV (median comp): $138,507
• List price: $94,900
• Delta: -27.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2715 W Market St	0.20mi	4/2.0 (-1)	1,735 (-10%)	11mo	$139,000	$80	60
3233 W Jefferson St	0.42mi	4/2.0 (-1)	1,922 (+0%)	18mo	$159,000	$83	60
2535 Duncan St	0.36mi	5/2.0	2,100 (+9%)	13mo	$170,000	$81	57
318 N 30th St	0.26mi	4/1.0 (-1)	1,642 (-14%)	3mo	$46,000	$28	52
2523 Saint Xavier St	0.63mi	4/1.0 (-1)	1,894 (-1%)	12mo	$30,000	$16	50
2424 Saint Xavier St	0.65mi	4/2.5 (-1)	1,921 (+0%)	22mo	$190,650	$99	44
2628 Bank St	0.65mi	4/2.0 (-1)	2,166 (+13%)	5mo	$165,500	$76	39
3527 W Muhammad Ali Blvd	0.71mi	4/2.0 (-1)	2,160 (+12%)	3mo	$208,900	$97	38
2429 Griffiths Ave	0.59mi	4/2.0 (-1)	1,645 (-14%)	7mo	$90,000	$55	38
2513 W Chestnut St	0.63mi	4/2.0 (-1)	2,108 (+10%)	17mo	$144,000	$68	35
2711 W Chestnut St	0.56mi	4/1.5 (-1)	1,737 (-10%)	23mo	$148,000	$85	31
3535 W Muhammad Ali Blvd	0.74mi	4/2.0 (-1)	1,724 (-10%)	21mo	$185,000	$107	26

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: 41.7%
• Equity multiple: 4.13×
• Total profit: $83,129
• Equity at exit: $85,493

10-year hold

• IRR: 35.0%
• Equity multiple: 8.91×
• Total profit: $210,101
• Equity at exit: $184,370

Cash invested: $26,572 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 15 under contract
• Months of supply: 7.8 mo (13%/mo absorbed)
• Median asking: $144,900 ($91/sqft)
• Median days on market: 37 d
• This list price: 23% of active listings are priced below it
• ARV vs active asking: -20.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 40212

• Home prices YoY: 11.0%
• Rents YoY: 0.5%
• Active inventory: 204
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,580 high
• Mortgage (P&I): −$498
• Tax from tax record: −$158 /mo · $1,890/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $554

Break-even live

Break-even rent $879

Max offer price $94,900

Occupancy floor 60%

Sensitivity live

Price	-10% $607	-5% $580	+0% $554	+5% $527	+10% $500
Rent	-10% $429	-5% $491	+0% $554	+5% $616	+10% $678
Rate	-1.0pp $601	-0.5pp $578	base $554	+0.5pp $529	+1.0pp $504

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: $23,725
• Closing costs: $2,847
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2729 W Market St Louisville, KY	5.0	2.0	2584	$1,595	$0.62	67d	1	0.17mi
2402 Rowan St Louisville, KY	4.0	1.0	1414	$1,195	$0.85	10d	1	0.45mi
2429 Griffiths Ave Louisville, KY	4.0	2.0	1645	$1,800	$1.09	93d	1	0.55mi
2729 W Chestnut St Unit Csf Louisville, KY	4.0	2.0	1300	$1,050	$0.81	10d	1	0.58mi
2319 W Muhammad Ali Blvd Louisville, KY	4.0	1.0	1644	$1,300	$0.79	111d	1	0.65mi
2220 Griffiths Ave Louisville, KY	5.0	2.5	2078	$2,000	$0.96	10d	1	0.67mi
311 S 38th St Louisville, KY	4.0	1.5	1392	$1,425	$1.02	10d	1	0.76mi
610 Louis Coleman Jr Dr Louisville, KY	4.0	2.0	1350	$1,800	$1.33	7d	1	0.80mi
131 N 39th St Louisville, KY	4.0	1.5	1350	$1,249	$0.93	7d	1	0.84mi
627 S 38th St Louisville, KY	4.0	1.0	1300	$1,349	$1.04	111d	1	1.05mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,495	$1.10	57d	1	1.06mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,395	$1.03	10d	1	1.06mi
3909 River Park Dr Louisville, KY	4.0	1.5	1240	$1,300	$1.05	10d	1	1.08mi
308 S 41st St Louisville, KY	4.0	1.0	1327	$1,355	$1.02	62d	1	1.10mi
3912 River Park Dr Louisville, KY	4.0	2.0	1898	$1,690	$0.89	10d	1	1.11mi
820 Hazel St Louisville, KY	4.0	2.0	1872	$1,325	$0.71	82d	1	1.13mi
459 S 41st St Louisville, KY	4.0	2.0	1952	$1,198	$0.61	10d	1	1.13mi
858 S 23rd St Louisville, KY	5.0	1.0	2228	$2,100	$0.94	112d	1	1.25mi
729 S 38th St Louisville, KY	4.0	2.0	1795	$1,550	$0.86	10d	1	1.29mi
724 S 38th St Unit 1 Louisville, KY	4.0	1.5	1225	$1,400	$1.14	10d	1	1.31mi
3909 W Broadway Louisville, KY	5.0	2.0	2000	$1,745	$0.87	111d	1	1.32mi
117 N 46th St Louisville, KY	4.0	1.5	1450	$1,650	$1.14	0d	1	1.35mi
722 S 40th St Unit NA Louisville, KY	4.0	2.5	1556	$1,700	$1.09	99d	1	1.41mi
100 N Longworth Ave Louisville, KY	4.0	1.0	1288	$1,225	$0.95	93d	1	1.44mi
122 S Longworth Ave Louisville, KY	4.0	2.0	1526	$1,195	$0.78	10d	1	1.45mi
2633 Grand Ave Louisville, KY	4.0	2.0	1902	$850	$0.45	78d	1	1.46mi

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Rear entry parking
• Utilities: Electricity connectedNatural gas
• Home design: Traditional-style single family residence2 stories
• Construction: Built in 1900Aluminum sidingShingle roofCrawl space foundation
• Exterior features: SidewalkCleared, level yardFull chain link fencing

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 5 bedrooms total2 bedrooms on the first floor3 bedrooms on the second floor
• Bathrooms: 2 full bathroomsFull bathrooms located on the second floor
• Heating & cooling: Forced air heatingCentral air conditioning
• Interior features: Total of 11 roomsCellar basement7 closetsBonus room
• Laundry & utility: Laundry room on the first floorFirst-floor laundry

Listing history 50 events

1. 2026-09-23
   days on market $94,900 Active 70 DOM
2. 2026-09-22
   pricedays on market $94,900 Active 69 DOM
3. 2026-09-21
   days on market $99,900 Active 68 DOM
4. 2026-09-20
   days on market $99,900 Active 67 DOM
5. 2026-09-19
   days on market $99,900 Active 66 DOM
6. 2026-09-18
   days on market $99,900 Active 65 DOM
7. 2026-09-17
   days on market $99,900 Active 64 DOM
8. 2026-09-16
   days on market $99,900 Active 63 DOM
9. 2026-09-15
   days on market $99,900 Active 62 DOM
10. 2026-09-14
    days on market $99,900 Active 61 DOM
11. 2026-09-13
    days on market $99,900 Active 60 DOM
12. 2026-09-12
    days on market $99,900 Active 59 DOM
13. 2026-09-11
    pricedays on market $99,900 Active 58 DOM
14. 2026-09-05
    days on market $110,000 Active 52 DOM
15. 2026-09-04
    days on market $110,000 Active 51 DOM
16. 2026-09-03
    days on market $110,000 Active 50 DOM
17. 2026-08-31
    days on market $110,000 Active 47 DOM
18. 2026-08-30
    days on market $110,000 Active 46 DOM
19. 2026-08-29
    days on market $110,000 Active 45 DOM
20. 2026-08-28
    days on market $110,000 Active 44 DOM
21. 2026-08-27
    days on market $110,000 Active 43 DOM
22. 2026-08-25
    days on market $110,000 Active 41 DOM
23. 2026-08-24
    days on market $110,000 Active 40 DOM
24. 2026-08-23
    days on market $110,000 Active 39 DOM
25. 2026-08-22
    days on market $110,000 Active 38 DOM
26. 2026-08-21
    days on market $110,000 Active 37 DOM
27. 2026-08-20
    days on market $110,000 Active 36 DOM
28. 2026-08-19
    days on market $110,000 Active 35 DOM
29. 2026-08-18
    days on market $110,000 Active 34 DOM
30. 2026-08-17
    days on market $110,000 Active 33 DOM
31. 2026-08-16
    days on market $110,000 Active 32 DOM
32. 2026-08-15
    days on market $110,000 Active 31 DOM
33. 2026-08-14
    days on market $110,000 Active 30 DOM
34. 2026-08-13
    days on market $110,000 Active 29 DOM
35. 2026-08-12
    days on market $110,000 Active 28 DOM
36. 2026-08-11
    days on market $110,000 Active 27 DOM
37. 2026-08-10
    days on market $110,000 Active 26 DOM
38. 2026-08-09
    days on market $110,000 Active 25 DOM
39. 2026-08-08
    days on market $110,000 Active 24 DOM
40. 2026-08-07
    days on market $110,000 Active 23 DOM
41. 2026-08-06
    days on market $110,000 Active 22 DOM
42. 2026-08-05
    days on market $110,000 Active 21 DOM
43. 2026-08-04
    days on market $110,000 Active 20 DOM
44. 2026-08-03
    days on market $110,000 Active 19 DOM
45. 2026-07-31
    days on market $110,000 Active 16 DOM
46. 2026-07-30
    days on market $110,000 Active 14 DOM
47. 2026-07-28
    days on market $110,000 Active 13 DOM
48. 2026-07-26
    days on market $110,000 Active 11 DOM
49. 2026-07-24
    days on market $110,000 Active 9 DOM
50. 2026-07-23
    days on market $110,000 Active 8 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: $1,890 · $158/mo
• Projected year-2 tax: $1,890 · $158/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 ≥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: $18,962
• − Mortgage interest: −$5,316
• − Property taxes: −$1,890
• − Insurance: −$474
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$2,761
• Taxable income: $5,487
• Est. tax owed @ 24.0%: −$1,317
• After-tax cash flow: $5,326/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.

Condition & rehab AI · 10 photos

Good 80/100 Cosmetic rehab Est. rehab $9,600–$28,800 screening

This fully updated home offers a spacious layout with new flooring, fresh paint, and a well-maintained exterior. It's ready for move-in and would benefit from a fresh coat of paint on the exterior trim to enhance its curb appeal.

Deferred maintenance Est. $10,000–$30,000 screening

• Major Exterior (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — exterior siding appears damaged and peeling, indicating significant structural issues.

Value-add opportunities

• Both Paint the exterior trim — Enhances curb appeal and value ↑
• Both Install new outdoor lighting — Improves safety and enhances curb appeal ↑
• Both Add a small front porch — Increases living space and enhances curb appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 21/100

Zoned Schools

Elementary Atkinson Academy F KY #648/676 Nat'l #39,071/41,679 Middle Crosby Middle F KY #57/217 Nat'l #5,872/14,009 High The Academy @ Shawnee F KY #228/254 Nat'l #15,755/17,239

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

C Composite livability gradescore 63/100

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 · 823,112 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: 14% of renters

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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%

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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%

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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

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Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Rear entry parking
• Utilities: Electricity connectedNatural gas
• Home design: Traditional-style single family residence2 stories
• Construction: Built in 1900Aluminum sidingShingle roofCrawl space foundation
• Exterior features: SidewalkCleared, level yardFull chain link fencing

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 5 bedrooms total2 bedrooms on the first floor3 bedrooms on the second floor
• Bathrooms: 2 full bathroomsFull bathrooms located on the second floor
• Heating & cooling: Forced air heatingCentral air conditioning
• Interior features: Total of 11 roomsCellar basement7 closetsBonus room
• Laundry & utility: Laundry room on the first floorFirst-floor laundry

Price history

+361.8% since first listed

13 events — show timeline

• 2026-07-15 Listed $115,000 Metro Search MLS
• 2026-07-07 Sold (MLS) $64,890 Metro Search MLS
• 2026-06-03 Pending — Metro Search MLS
• 2026-05-26 Price Changed $87,000 Metro Search MLS
• 2026-05-01 Price Changed $102,500 Metro Search MLS
• 2026-04-16 Price Changed $113,600 Metro Search MLS
• 2026-03-13 Listed $142,000 Metro Search MLS
• 2023-03-20 Sold (MLS) $150,000 Metro Search MLS
• 2023-01-31 Pending — Metro Search MLS
• 2023-01-23 Listed $145,000 Metro Search MLS
• 2021-11-02 Sold (Public Records) $29,000 Public Records
• 2009-04-06 Sold (MLS) $19,000 Metro Search MLS
• 2009-02-24 Listed $24,900 Metro Search MLS

Property tax history

+11.7%/yr

Latest (2025): $1,890 · -1.9% YoY. Source: county tax records.