3724 Warren Ave · Louisville, KY 40215

$180,000

4 bd · 1.0 ba · 1,355 sqft · SingleFamily · 13 Days on market

Built 1953 4,400 sqft lot Est $191k · 6% under

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Why this score? — see what drove the D+ 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 +16.8/30.0
• ARV discount +10.1/15.0
• DSCR +5.2/10.0
• 1% rule +4.1/10.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home! This freshly painted, turn-key, spacious 4 bedroom cape cod is is a rare find in today's market. The sellers have lovingly maintained this property over the years, replacing the furnace in 2009, and the roof in 2012. Recent updates include new flooring in the kitchen, bathroom, utility room, and in 3 of the 4 bedrooms. The kitchen also features new countertops, new appliances, new sink faucet and updated LED lighting. The bathroom has been updated as well with a new sink, new faucet and new LED lighting. Call for your private showing today!

Key facts

• 4,400 sq ft lot
• Parking
• Built 1953

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected; Natural gas service
• Home design: Single-family residence; Cape Cod style; Two stories; Built in 1953
• Construction: Aluminum siding; Shingle roof; Crawl space foundation
• Exterior features: Lot approximately 0.1 acre; Subdivision: LENOX

Interior

• Kitchen: Kitchen located on the first floor
• Bedrooms: Four bedrooms total; Two bedrooms on the first floor; Two bedrooms on the second floor; Primary bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Six total rooms; Eight closets; No basement
• Laundry & utility: Laundry room on the first floor; First-floor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $49 ($585/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (9.2% below list).
• Recommended offer: $164k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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+, 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: Semple Elementary (math 2% / reading 12%, grade F, #662 of 676 statewide, top 99%, 574 students, 79% FRL); Frederick Law Olmsted Academy North (math 5% / reading 15%, grade F, #217 of 217 statewide, top 100%, 510 students, 74% FRL); Iroquois High (math 12% / reading 8%, grade F, #245 of 254 statewide, top 97%, 1,090 students, 74% FRL) — zoned schools average 76% FRL vs 56% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 9% at this address vs 27% district-wide (-18 pts) — the specific schools serving this property underperform the Jefferson County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.2%/yr); 118 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 20y 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 $150k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1953 — 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 $163,505 (9.2% below list)

Questions for the listing agent

1. Built in 1953 — 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. 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?
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: 0.91% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.74%
• DSCR: 1.12
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $191,055
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1006 Camden Ave	0.14mi	4/2.0	1,322 (-2%)	7mo	$140,000	$106	79
717 Camden Ave	0.32mi	4/1.0	1,445 (+7%)	9mo	$135,000	$93	67
1123 W Whitney Ave	0.31mi	3/1.0 (-1)	1,508 (+11%)	2mo	$170,000	$113	60
1225 Manitau Ave	0.47mi	3/1.0 (-1)	1,450 (+7%)	3mo	$185,000	$128	59
576 Longfield Ave	0.61mi	3/1.0 (-1)	1,414 (+4%)	1mo	$179,300	$127	58
4519 S 6th St	0.44mi	5/2.5 (+1)	1,274 (-6%)	1mo	$185,000	$145	58
824 Dresden Ave	0.51mi	4/2.0	1,225 (-10%)	2mo	$173,000	$141	55
1009 W Ashland Ave	0.27mi	3/2.0 (-1)	1,525 (+12%)	4mo	$240,000	$157	54
811 Denmark St	0.43mi	3/1.0 (-1)	1,193 (-12%)	7mo	$120,000	$101	50
1190 Bicknell Ave	0.53mi	3/2.0 (-1)	1,500 (+11%)	2mo	$250,000	$167	47
1116 Dresden Ave	0.49mi	3/1.0 (-1)	1,200 (-11%)	8mo	$174,500	$145	46
3668 Woodruff Ave	0.45mi	3/3.0 (-1)	1,158 (-14%)	6mo	$212,500	$184	37

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 · 5.16% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.56×
• Total profit: $-22,406
• Equity at exit: $26,839

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $157
• Equity at exit: $15,563

Cash invested: $50,400 (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 40215

• Home prices YoY: -34.4%
• Rents YoY: 5.2%
• Active inventory: 118
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,635 high
• Mortgage (P&I): −$944
• Tax from tax record: −$158 /mo · $1,890/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $49

Break-even live

Break-even rent $1,573

Max offer price $180,000

Occupancy floor 92%

Sensitivity live

Price	-10% $151	-5% $100	+0% $49	+5% $-2	+10% $-53
Rent	-10% $-80	-5% $-16	+0% $49	+5% $113	+10% $178
Rate	-1.0pp $139	-0.5pp $95	base $49	+0.5pp $2	+1.0pp $-45

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	13d	1	0.26mi
910 W Whitney Ave Louisville, KY	3.0	1.0	1186	$1,450	$1.22	3d	1	0.26mi
4513 S 6th St Louisville, KY	3.0	2.0	1581	$2,650	$1.68	25d	1	0.43mi
925 W Evelyn Ave Louisville, KY	3.0	1.5	1520	$1,650	$1.09	25d	1	0.47mi
4010 Taylor Blvd Louisville, KY	4.0	2.0	1612	$3,000	$1.86	18d	1	0.50mi
4133 S 5th St Louisville, KY	4.0	1.0	1200	$1,435	$1.20	18d	1	0.51mi
551 Denmark St Louisville, KY	3.0	1.5	1160	$1,700	$1.47	25d	1	0.53mi
3746 Kahlert Ave Louisville, KY	3.0	1.0	955	$1,350	$1.41	18d	1	0.59mi
3717 Wheeler Ave Louisville, KY	3.0	2.0	1124	$1,450	$1.29	25d	1	0.62mi
615 Dresden Ave Louisville, KY	3.0	1.0	884	$1,450	$1.64	25d	1	0.63mi
4007 Southern Pkwy Unit 1 Louisville, KY	4.0	1.0	1500	$1,395	$0.93	5d	1	0.72mi
3909 Southern Pkwy Unit 2 Louisville, KY	3.0	1.0	1000	$1,100	$1.10	5d	1	0.78mi
3860 Southern Pkwy Louisville, KY	3.0	1.0	1064	$1,250	$1.17	25d	1	0.78mi
310 W Kenton St Louisville, KY	3.0	2.0	1295	$1,350	$1.04	25d	1	0.83mi
3627 Parthenia Ave Louisville, KY	3.0	1.0	900	$1,245	$1.38	25d	1	0.85mi
4000 Churchman Ave Louisville, KY	3.0	1.0	1000	$1,200	$1.20	18d	1	0.87mi
1522 Clara Ave Louisville, KY	3.0	2.0	1150	$1,150	$1.00	25d	1	0.89mi
119 E Southern Heights Ave Louisville, KY	3.0	1.0	1000	$1,250	$1.25	25d	1	0.91mi
3524 Georgetown Cir Unit 3530 Louisville, KY	3.0	1.0	886	$1,350	$1.52	5d	1	1.08mi
3524 Georgetown Cir Louisville, KY	1.0–3.0	1.0	684	$1,350	$1.97	25d	2	1.08mi
3524 Georgetown Cir Louisville, KY	1.0–3.0	1.0	684	$1,350	$1.97	16d	4	1.08mi
3102 Grant Ave Louisville, KY	4.0	2.0	1603	$1,595	$1.00	25d	1	1.13mi
519 Forum Ave Louisville, KY	3.0	1.5	1693	$1,600	$0.95	25d	1	1.16mi
1517 Shingo Ave Louisville, KY	3.0	2.0	1100	$1,349	$1.23	25d	1	1.18mi
1507 Arling Ave Louisville, KY	3.0	2.0	1148	$1,275	$1.11	18d	1	1.23mi
2826 Taylor Blvd Louisville, KY	3.0	1.0	1044	$1,345	$1.29	25d	1	1.33mi
5013 Wabash Pl Louisville, KY	3.0	2.0	1080	$1,400	$1.30	25d	1	1.41mi
1301 Lillian Ave Louisville, KY	3.0	1.0	974	$1,250	$1.28	18d	1	1.41mi
5033 Wabash Pl Louisville, KY	3.0	1.5	1156	$1,350	$1.17	25d	1	1.44mi
315 M St Unit 101 Louisville, KY	3.0	1.5	1200	$1,800	$1.50	13d	1	1.50mi

Listing history 9 events

1. 2026-06-21
   days on market $180,000 Active 13 DOM
2. 2026-06-18
   days on market $180,000 Active 10 DOM
3. 2026-06-17
   days on market $180,000 Active 9 DOM
4. 2026-06-16
   days on market $180,000 Active 8 DOM
5. 2026-06-15
   days on market $180,000 Active 7 DOM
6. 2026-06-13
   days on market $180,000 Active 5 DOM
7. 2026-06-10
   days on market $180,000 Active 2 DOM
8. 2026-06-09
   remarks 255-char remark
9. 2026-06-09
   listed $180,000 Active 1 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 7/10 Severe FEMA zone X (unshaded) · 77% 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: $19,621
• − Mortgage interest: −$10,083
• − Property taxes: −$1,890
• − Insurance: −$1,697
• − Repairs & maintenance: −$1,570
• − Management: −$1,570
• − Depreciation: −$5,236
• Taxable loss: −$2,425
• Est. tax savings @ 24.0%: +$582
• After-tax cash flow: $1,168/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): 20,532
• Household income: $43,725
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 997.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 51% Black 33% Two or more races 11% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Slovak 1% Romanian 1% Serbian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -119.35%
• Current HPI: 227.8248
• Rent YoY: ▲ 5.16%
• 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

+125.0% since first listed

14 events — show timeline

• 2026-06-08 Listed $180,000 Metro Search MLS
• 2022-04-13 Sold (Public Records) $150,000 Public Records
• 2022-03-29 Sold (MLS) $150,000 Metro Search MLS
• 2022-03-17 Contingent — Metro Search MLS
• 2022-03-07 Listed $159,900 Metro Search MLS
• 2022-03-07 Listing Removed — Metro Search MLS
• 2022-02-11 Listed $169,900 Metro Search MLS
• 2009-01-14 Sold (Public Records) $30,900 Public Records
• 2009-01-09 Sold (MLS) $30,900 Metro Search MLS
• 2008-11-13 Listed $30,900 Metro Search MLS
• 2008-10-07 Sold (Public Records) $53,600 Public Records
• 2006-05-08 Sold (Public Records) $80,000 Public Records
• 2006-05-01 Sold (MLS) $80,000 Metro Search MLS
• 2006-03-29 Listed $80,000 Metro Search MLS

Property tax history

+8.6%/yr

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