1924 Goldsmith Ln Unit 47 · Louisville, KY 40218

$1

1 bd · 1.0 ba · 606 sqft · Townhouse · 14 Days on market

Built 1974 $8/mo HOA · 1% of rent ↓ 7% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Rent growth +1.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CONVENIENT LOCATION, POOL, COIN LAUNDRY IN BASEMENT, REFRIGERATOR, RANGE AND DISHWASHER REMAIN, MIRRORED DOOR ON CLOSET IN BEDROOM

Key facts

• $8 HOA
• Pool
• Built 1974

Property features AI

Finance

• HOA & community: Association present with a monthly maintenance fee of $100

Exterior

• Parking: See remarks for parking details
• Utilities: Utilities: Other
• Home design: Residential auction property; One-story
• Construction: Built in 1974; Shingle roof; Poured concrete foundation
• Exterior features: Patio-style property; Subdivision: HOLLY HOUSE

Interior

• Bedrooms: One bedroom located on the first floor; Primary bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Radiant heating; Central air conditioning
• Interior features: Three total rooms; Three closets; No basement
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $727 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($931 rent vs $1).
• Cap rate 872910.2% 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 falling (-3.5%/yr); 100 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $0 of loan paydown is wiped out by about $0 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 28y 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.

Risks & watch-outs

• 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. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 93092.00% ✓
• Cap rate: 872910.16%
• Cash-on-cash: 3117513.81%
• DSCR: 138712.82
• GRM: 0.0

CMA / ARV

• ARV (on-the-fly): $103,626
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1924 Goldsmith Ln #41	0.01mi	1/1.0	550 (-9%)	4mo	$74,500	$135	81
1935 Gardiner Ln Unit G97	0.43mi	1/1.0	614 (+1%)	2mo	$105,000	$171	76
1935 Gardiner Ln Apt B27	0.43mi	1/1.0	613 (+1%)	3mo	$95,000	$155	76
1935 Gardiner Ln Apt B29	0.43mi	1/1.0	614 (+1%)	4mo	$105,000	$171	74
1935 Gardiner Ln Unit B18	0.43mi	1/1.0	618 (+2%)	8mo	$129,000	$209	70
1970 Goldsmith Ln Unit A-4	0.32mi	1/1.0	657 (+8%)	2mo	$65,000	$99	69
3510 Paragon Ct Unit 13	0.41mi	1/1.0	575 (-5%)	6mo	$76,000	$132	67
1935 Gardiner Ln Unit F87	0.43mi	1/1.0	618 (+2%)	13mo	$135,000	$218	66
1935 Gardiner Ln Unit G98	0.43mi	1/1.0	614 (+1%)	15mo	$123,500	$201	65
3510 Paragon Ct #6	0.41mi	1/1.0	575 (-5%)	12mo	$80,000	$139	62
1935 Gardiner Ln Apt F84	0.43mi	1/1.0	614 (+1%)	19mo	$120,000	$195	62
3510 Paragon Ct Unit 3	0.41mi	1/1.0	575 (-5%)	22mo	$75,000	$130	55

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 155788.14×
• Total profit: $43,620
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 311338.86×
• Total profit: $87,175
• Equity at exit: $0

Cash invested: $0 (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 40218

• Rents YoY: -3.5%
• Active inventory: 100

Monthly cashflow live

• Estimated rent: $931 high
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$8
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $727

Break-even live

Break-even rent $10

Max offer price $1

Occupancy floor 17%

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3201 Leith Ln Louisville, KY	1.0–2.0	1.0–1.5	850	$879	$1.03	3d	8	0.15mi
3439 Newburg Rd Unit 1 Louisville, KY	1.0	1.0	700	$950	$1.36	23d	1	0.37mi
2007 Terril Ln Louisville, KY	1.0	1.0	587	$862	$1.47	23d	2	0.38mi
2004 Goldsmith Ln Unit 3 Louisville, KY	2.0	1.0	750	$1,050	$1.40	21d	1	0.39mi
2013 Goldsmith Ln Louisville, KY	1.0	1.0	675	$865	$1.28	16d	1	0.46mi
2153 Goldsmith Ln Louisville, KY	1.0–3.0	1.0–2.0	950	$820	$0.86	3d	10	0.79mi
3320 Bardstown Rd Unit V17 Louisville, KY	1.0	1.0	554	$825	$1.49	16d	1	0.83mi
3600 Fountain Dr Louisville, KY	1.0–3.0	1.0	675	$849	$1.26	3d	30	0.92mi
2206 Heather Ln Louisville, KY	1.0	1.0	480	$899	$1.87	16d	1	0.97mi
3715 Ethel Ave Louisville, KY	1.0	1.0	600	$1,400	$2.33	3d	1	1.39mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: pool

Listing history 4 events

1. 2026-05-06
   status Pending
2. 2026-04-22
   listed $1 Active
3. 1998-12-07
   soldstatus $31,000 130-char remark

   Show marketing remark (130 chars)

   CONVENIENT LOCATION, POOL, COIN LAUNDRY IN BASEMENT, REFRIGERATOR, RANGE AND DISHWASHER REMAIN, MIRRORED DOOR ON CLOSET IN BEDROOM

4. 1998-10-07
   listed $33,500 130-char remark

   Show marketing remark (130 chars)

   CONVENIENT LOCATION, POOL, COIN LAUNDRY IN BASEMENT, REFRIGERATOR, RANGE AND DISHWASHER REMAIN, MIRRORED DOOR ON CLOSET IN BEDROOM

ⓘ 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 (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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,171
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$894
• − Management: −$894
• − HOA: −$96
• − Depreciation: −$0
• Taxable income: $9,288
• Est. tax owed @ 24.0%: −$2,229
• After-tax cash flow: $6,500/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: 419,741
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 33,736
• Household income: $58,811
• Rent vs Own: 50.5% rent · 49.5% own
• Severe rent burden: 1590.0

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 0.69)
• Race & ethnicity: White 42% Black 32% Hispanic / Latino 17% Two or more races 16% Asian 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1% Cuban 7%
• Common ancestry: Lithuanian 1% Portuguese 1% Swiss 1%
• Foreign-born: 20% · Canada, India, Jamaica
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 3% 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: ▼ -208.23%
• Current HPI: 257.9528
• Rent YoY: ▼ -3.47%
• 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

-7.5% since first listed

4 events — show timeline

• 2026-05-06 Pending — Metro Search MLS
• 2026-04-22 Listed $1 Metro Search MLS
• 1998-12-07 Sold (MLS) $31,000 Metro Search MLS
• 1998-10-07 Listed $33,500 Metro Search MLS

Property tax history

+4.7%/yr

Latest (2025): $916 · +24.0% YoY. Source: county tax records.