611 Colorado Ave · Louisville, KY 40208

$115,000

2 bd · 1.0 ba · 925 sqft · SingleFamily · 15 Days on market

Built 1930 5,460 sqft lot Est $139k · 17% under

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Why this score? — see what drove the C 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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Attention investors! Check out this cute little bungalow that needs updates and TLC! Two bedrooms, one bath, eat in kitchen, living room w/ faux fireplace and a basement. There is a small partially enclosed porch off the kitchen. Lots of natural light! Wood floors under carpet per seller. One car garage/shed of no value. Hurry to this one, it will not last!

Key facts

• 5,460 sq ft lot
• Garage
• Built 1930

Property features AI

Finance

• Other: Lot about 0.13 acres (approx. 42 x 130); No fencing; Subdivision: CHURCHILL; Directions: Winkler St./Algonquin Ave to Colorado Ave
• HOA & community: No association fee

Exterior

• Parking: Detached garage with driveway (1 garage space)
• Utilities: Electricity connected; Natural gas service; One HVAC unit (heating) and one HVAC unit (cooling)
• Home design: Single-family residence, Bungalow style; 2 stories; Built in 1930
• Construction: Aluminum siding; Shingle roof; Concrete block foundation
• Exterior features: Sidewalk

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms, both on the first floor
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Forced air heating (natural gas); Wall/window air conditioning unit(s)
• Interior features: Four closets; Unfinished basement; Six total rooms
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/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 $113k (1.9% below list).
• Recommended offer: $113k (1.9% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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+, 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: Cochran Elementary (math 8% / reading 17%, grade F, #630 of 676 statewide, top 95%, 324 students, 76% FRL); Noe Middle (math 49% / reading 62%, grade B-, #7 of 217 statewide, top 3%, 1,347 students, 46% FRL); Fairdale High (math 22% / reading 32%, grade F, #158 of 254 statewide, top 68%, 1,386 students, 68% FRL).
• Market conditions: Rents rising fast (+6.1%/yr); 76 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 34% of the median local income ($40k/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 $795 of loan paydown is wiped out by about $3k 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 + 6.1% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $112,809 (1.9% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.98% ✗
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $138,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 Colorado Ave	0.00mi	2/1.0	925 (0%)	1mo	$110,000	$119	99
1017 Lincoln Ave	0.38mi	2/1.0	900 (-3%)	5mo	$85,000	$94	74
528 M St	0.40mi	3/2.0 (+1)	944 (+2%)	1mo	$142,000	$150	68
520 M St	0.40mi	2/1.0	986 (+7%)	2mo	$57,500	$58	68
1148 Euclid Ave	0.47mi	3/1.0 (+1)	950 (+3%)	2mo	$150,000	$158	67
1200 Tennessee Ave	0.55mi	3/1.5 (+1)	920 (-0%)	2mo	$145,000	$158	64
914 Euclid Ave	0.35mi	2/1.0	804 (-13%)	1mo	$128,000	$159	61
3008 Taylor Blvd	0.66mi	2/2.0	912 (-1%)	5mo	$149,000	$163	59
810 Weller Ave	0.55mi	2/1.0	840 (-9%)	2mo	$124,000	$148	57
1315 Weller Ave	0.61mi	2/1.0	996 (+8%)	3mo	$125,000	$126	57
1325 Lillian Ave	0.58mi	2/1.0	847 (-8%)	3mo	$140,000	$165	56
2448 Lindbergh Dr	0.54mi	2/1.0	810 (-12%)	5mo	$97,500	$120	50

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 · 6.06% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.85×
• Total profit: $-4,729
• Equity at exit: $17,147

10-year hold

• IRR: 8.9%
• Equity multiple: 1.77×
• Total profit: $24,755
• Equity at exit: $9,943

Cash invested: $32,200 (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 40208

• Home prices YoY: -23.3%
• Rents YoY: 6.1%
• Active inventory: 76
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,128 high
• Mortgage (P&I): −$603
• Tax from tax record: −$78 /mo · $933/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $162

Break-even live

Break-even rent $922

Max offer price $115,000

Occupancy floor 81%

Sensitivity live

Price	-10% $228	-5% $195	+0% $162	+5% $130	+10% $97
Rent	-10% $73	-5% $118	+0% $162	+5% $207	+10% $252
Rate	-1.0pp $220	-0.5pp $192	base $162	+0.5pp $133	+1.0pp $102

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2501 S 4th St Louisville, KY	1.0–3.0	1.0–3.0	897	$3,732	$4.16	5d	1	0.24mi
2501 S 3rd St Louisville, KY	1.0–2.0	1.0–2.0	1011	$1,550	$1.53	5d	2	0.33mi
1055 Euclid Ave Louisville, KY	2.0	1.0	914	$1,325	$1.45	25d	1	0.34mi
2716 S 6th St Louisville, KY	1.0	1.0	881	$950	$1.08	17d	1	0.35mi
508 M St Louisville, KY	2.0	1.5	1035	$1,100	$1.06	25d	1	0.41mi
2805 S 4th St #1 Louisville, KY	1.0	1.0	750	$725	$0.97	23d	1	0.47mi
2826 Taylor Blvd Louisville, KY	3.0	1.0	1044	$1,345	$1.29	25d	1	0.50mi
1120 Weller Ave Louisville, KY	2.0	1.0	912	$1,500	$1.64	5d	1	0.55mi
1301 Lillian Ave Louisville, KY	3.0	1.0	974	$1,250	$1.28	17d	1	0.60mi
4600 South St Unit PARKWAYE1 Louisville, KY	2.0	1.0	700	$749	$1.07	25d	1	0.60mi
2913 S 3rd St Louisville, KY	2.0	1.0	1026	$1,200	$1.17	25d	1	0.61mi
1800 S 2nd St Louisville, KY	1.0	1.0	575	$950	$1.65	17d	7	0.63mi
3107 Montana Ave Louisville, KY	2.0	1.0	986	$995	$1.01	25d	1	0.66mi
1501 Bellamy Pl Louisville, KY	2.0–4.0	2.0–4.0	1074	$1,758	$1.64	5d	1	0.66mi
1438 Lillian Ave Louisville, KY	2.0	1.0	777	$1,050	$1.35	18d	1	0.71mi
1702 S 2nd St Apt 1 Louisville, KY	2.0	1.0	875	$1,100	$1.26	25d	1	0.72mi
1702 S 2nd St Apt 3 Louisville, KY	1.0	1.0	625	$875	$1.40	25d	1	0.72mi
1305 Larchmont Ave Louisville, KY	2.0	1.0	1113	$1,350	$1.21	17d	1	0.75mi
409 W Gaulbert Ave Unit 201 Louisville, KY	2.0	1.0	772	$1,100	$1.42	25d	1	0.75mi
1521 S 4th St Apt 8 Louisville, KY	1.0	1.0	700	$900	$1.29	25d	1	0.78mi
1521 S 4th St Unit 12 Louisville, KY	1.0	1.0	700	$795	$1.14	23d	1	0.78mi
1521 S 4th St Unit 6 Louisville, KY	2.0	1.0	750	$1,025	$1.37	25d	1	0.78mi
1521 S 4th St Unit 7 Louisville, KY	2.0	1.0	750	$1,125	$1.50	25d	1	0.78mi
1122 Larchmont Ave Louisville, KY	2.0	1.0	864	$750	$0.87	17d	1	0.81mi
1122 Larchmont Ave Unit B Louisville, KY	2.0	1.0	864	$750	$0.87	25d	1	0.81mi
1122 Larchmont Ave Unit B Louisville, KY	1.0	1.0	700	$750	$1.07	18d	1	0.81mi
415 Belgravia Ct Unit 3 Louisville, KY	2.0	1.0	700	$800	$1.14	25d	1	0.87mi
415 Atwood St Louisville, KY	1.0	1.0	770	$995	$1.29	23d	1	0.88mi
2138 Crittenden Dr Louisville, KY	1.0	1.0	550	$950	$1.73	23d	1	0.94mi
216 W Burnett Ave Unit 216A Louisville, KY	3.0	1.0	900	$1,150	$1.28	18d	1	0.95mi
216 W Burnett Ave Unit 226B Louisville, KY	2.0	1.0	775	$1,050	$1.35	18d	1	0.95mi
1637 Thornberry Ave Louisville, KY	2.0	1.0	700	$1,250	$1.79	5d	1	0.95mi
423 E Brandeis Ave Louisville, KY	1.0	1.0	768	$1,850	$2.41	5d	1	0.97mi
1606 Algonquin Pkwy Unit 22 Louisville, KY	2.0	1.0	626	$750	$1.20	25d	1	0.98mi
428 E Brandeis Ave Louisville, KY	1.0	1.0	760	$1,200	$1.58	25d	1	0.99mi
520 Wainwright Ave Louisville, KY	2.0	1.0	1000	$1,495	$1.50	17d	1	0.99mi
1436 S 2nd St Unit 1436-1 Louisville, KY	2.0	1.0	1000	$1,095	$1.09	13d	1	1.00mi
533 Eastern Pkwy Louisville, KY	1.0	1.0	784	$1,200	$1.53	17d	1	1.02mi
570 Lilly Ave Louisville, KY	2.0	1.0	800	$1,275	$1.59	25d	1	1.08mi
2057 May Ave Louisville, KY	1.0	1.0	734	$850	$1.16	5d	1	1.10mi

Listing history 3 events

1. 2026-05-08
   status Pending
2. 2026-04-28
   historical Active Under Contract
3. 2026-04-22
   listed $115,000 Active

ⓘ 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: $933 · $78/mo
• Projected year-2 tax: $989 · $82/mo
• Expected delta: +$56/yr (+$5/mo · 6.1%)

ⓘ 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 ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $13,537
• − Mortgage interest: −$6,442
• − Property taxes: −$933
• − Insurance: −$575
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$3,345
• Taxable income: $76
• Est. tax owed @ 24.0%: −$18
• After-tax cash flow: $1,932/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): 15,605
• Household income: $39,560
• Rent vs Own: 73.8% rent · 26.2% own
• Severe rent burden: 1136.0

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 0.56)
• Race & ethnicity: White 62% Black 22% Two or more races 9% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -72.97%
• Current HPI: 240.6261
• Rent YoY: ▲ 6.06%
• 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

3 events — show timeline

• 2026-05-08 Pending — Metro Search MLS
• 2026-04-28 Contingent — Metro Search MLS
• 2026-04-22 Listed $115,000 Metro Search MLS

Property tax history

+0.9%/yr

Latest (2025): $933 · -1.9% YoY. Source: county tax records.