3215 Grand Ave · Louisville, KY 40211

$79,900

3 bd · 1.0 ba · 1,248 sqft · SingleFamily · 27 Days on market

Built 1920 8,400 sqft lot Est $104k · 23% under

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Why this score? — see what drove the B+ 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
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in the heart of Louisville! Located on the same block as the childhood home of legendary boxer Muhammad Ali, this property offers incredible potential for investors, renovators, or first-time buyers looking to build equity. Solid potential throughout, the home is ready for someone to bring their vision to life.

Key facts

• 8,400 sq ft lot
• Parking
• Built 1920

Property features AI

Finance

• Other: Lot is cleared; Partial chain-link fencing; Lot dimensions approximately 35 x 240
• HOA & community: No association fee

Exterior

• Parking: Driveway
• Utilities: Electricity connected
• Home design: Single family residence; Traditional style; Two stories
• Construction: Built in 1920; Vinyl siding exterior; Shingle roof; Unfinished below-grade area
• Exterior features: No additional exterior features listed

Interior

• Kitchen: Kitchen on the first floor; Dining area adjacent to the kitchen
• Bedrooms: Three bedrooms located on the second floor
• Bathrooms: One full bathroom on the second floor
• Heating & cooling: Heating present; Central air conditioning (one HVAC unit)
• Interior features: Seven rooms total; Two closets; Foyer on the first floor; Living room on the first floor; Dining room on the first floor; Basement (unfinished)
• Laundry & utility: No first-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $462 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.2% 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 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).
• At $1,239/mo this rent would consume 47% of the median local household income ($32k/yr) (locally 1483% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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 + 4.9% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: 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 $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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: 1.55% ✓
• Cap rate: 13.23%
• Cash-on-cash: 24.79%
• DSCR: 2.10
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $103,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3322 W Kentucky St	0.18mi	3/1.0	1,296 (+4%)	2mo	$85,000	$66	83
3322 Virginia Ave	0.26mi	3/1.0	1,198 (-4%)	8mo	$180,000	$150	75
3212 W Kentucky St	0.16mi	2/1.5 (-1)	1,104 (-12%)	2mo	$45,000	$41	65
802 Sutcliffe Ave	0.50mi	2/1.0 (-1)	1,162 (-7%)	4mo	$110,000	$95	57
3507 Regatta Way	0.42mi	4/2.5 (+1)	1,303 (+4%)	6mo	$172,000	$132	57
1331 S 28th St	0.57mi	3/1.5	1,152 (-8%)	6mo	$60,000	$52	54
865 S 26th St	0.69mi	3/1.0	1,371 (+10%)	3mo	$51,999	$38	49
1419 S 28th St	0.69mi	4/2.0 (+1)	1,203 (-4%)	6mo	$100,000	$83	48
1412 Beech St	0.55mi	2/1.5 (-1)	1,127 (-10%)	4mo	$90,000	$80	47
1415 S 28th St	0.68mi	3/2.0	1,384 (+11%)	2mo	$190,000	$137	45
722 S 37th St	0.59mi	2/1.0 (-1)	1,092 (-12%)	4mo	$46,000	$42	43
1504 Weaver Ct	0.72mi	4/2.0 (+1)	1,104 (-12%)	5mo	$105,000	$95	34

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: 20.2%
• Equity multiple: 1.84×
• Total profit: $18,856
• Equity at exit: $11,913

10-year hold

• IRR: 29.6%
• Equity multiple: 3.88×
• Total profit: $64,431
• Equity at exit: $6,908

Cash invested: $22,372 (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
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,239 high
• Mortgage (P&I): −$419
• Tax from tax record: −$65 /mo · $775/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $462

Break-even live

Break-even rent $654

Max offer price $79,900

Occupancy floor 58%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	21d	1	0.09mi
1115 S 32nd St Louisville, KY	3.0	1.0	1393	$1,275	$0.92	23d	1	0.09mi
3122 W Kentucky St Louisville, KY	3.0	1.0	1030	$1,150	$1.12	23d	1	0.17mi
3215 Virginia Ave Louisville, KY	3.0	1.0	975	$924	$0.95	23d	1	0.21mi
1145 Louis Coleman Jr Dr Louisville, KY	2.0	1.0	913	$875	$0.96	23d	1	0.22mi
2912 Greenwood Ave Louisville, KY	3.0	2.0	1362	$1,150	$0.84	16d	1	0.28mi
3514 Grand Ave Louisville, KY	3.0	1.5	1450	$1,295	$0.89	21d	1	0.28mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	3d	1	0.29mi
2825 Greenwood Ave #2 Louisville, KY	2.0	1.0	1300	$995	$0.77	23d	1	0.34mi
2825 Greenwood Ave #4 Louisville, KY	3.0	1.0	1440	$1,250	$0.87	23d	1	0.34mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	23d	1	0.35mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	3d	1	0.37mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	10d	1	0.41mi
803 S 35th St Louisville, KY	3.0	1.0	1486	$1,350	$0.91	23d	1	0.43mi
737 S 33rd St Louisville, KY	4.0	1.0	1356	$1,595	$1.18	23d	1	0.45mi
1155 S 28th St Unit 4 Louisville, KY	4.0	2.0	1010	$1,350	$1.34	23d	1	0.45mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	23d	1	0.48mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	23d	1	0.49mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	3d	1	0.50mi
2711 W Kentucky St Louisville, KY	3.0	1.0	1155	$1,100	$0.95	23d	1	0.51mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	23d	1	0.52mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	23d	1	0.52mi
701 Hazel St Unit 3 Louisville, KY	2.0	1.0	832	$800	$0.96	10d	1	0.54mi
3611 Regatta Way Louisville, KY	3.0	1.0	1035	$1,450	$1.40	16d	1	0.55mi
823 S 38th St Louisville, KY	3.0	1.0	1100	$1,195	$1.09	3d	1	0.56mi
2634 Garland Ave Unit B Louisville, KY	3.0	1.0	1152	$895	$0.78	20d	1	0.57mi
2634 Garland Ave Unit A Louisville, KY	3.0	1.0	1152	$940	$0.82	23d	1	0.57mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	21d	1	0.58mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	20d	1	0.59mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	23d	1	0.62mi
666 Eastlawn Ave Louisville, KY	2.0	1.0	936	$895	$0.96	16d	1	0.63mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	23d	1	0.63mi
729 S 39th St Unit 1 Louisville, KY	2.0	1.0	800	$800	$1.00	23d	1	0.69mi
833 S 41st St Louisville, KY	3.0	2.0	786	$1,250	$1.59	23d	1	0.75mi
2416 Garland Ave Louisville, KY	3.0	2.0	1172	$1,600	$1.37	23d	1	0.76mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	23d	1	0.77mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	16d	1	0.77mi
836 S 41st St Louisville, KY	3.0	1.0	1300	$1,300	$1.00	19d	1	0.78mi
648 S 37th St #3 Louisville, KY	2.0	1.0	807	$850	$1.05	23d	1	0.79mi
714 S 40th St #2 Louisville, KY	3.0	1.0	1000	$1,250	$1.25	23d	1	0.80mi

Listing history 14 events

1. 2026-06-18
   days on market $79,900 Active 27 DOM
2. 2026-06-17
   days on market $79,900 Active 26 DOM
3. 2026-06-16
   days on market $79,900 Active 25 DOM
4. 2026-06-15
   days on market $79,900 Active 24 DOM
5. 2026-06-13
   pricedays on market $79,900 Active 22 DOM
6. 2026-06-10
   days on market $94,500 Active 19 DOM
7. 2026-06-09
   days on market $94,500 Active 18 DOM
8. 2026-06-08
   days on market $94,500 Active 17 DOM
9. 2026-06-07
   days on market $94,500 Active 16 DOM
10. 2026-06-03
    days on market $94,500 Active 12 DOM
11. 2026-06-02
    pricedays on market $94,500 Active 11 DOM
12. 2026-06-01
    days on market $99,900 Active 10 DOM
13. 2026-05-31
    days on market $99,900 Active 9 DOM
14. 2026-05-22
    listed $99,900 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: $775 · $65/mo
• Projected year-2 tax: $775 · $65/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 (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: $14,870
• − Mortgage interest: −$4,476
• − Property taxes: −$775
• − Insurance: −$400
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$2,324
• Taxable income: $4,517
• Est. tax owed @ 24.0%: −$1,084
• After-tax cash flow: $4,461/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

Price history

1 event — show timeline

• 2026-05-22 Listed $99,900 Metro Search MLS

Property tax history

+6.5%/yr

Latest (2025): $775 · -1.9% YoY. Source: county tax records.