2203 Date St · Louisville, KY 40210

$65,000

4 bd · 2.5 ba · 3,306 sqft · SingleFamily · 13 Days on market

Built 1920 4,726 sqft lot Est $109k · 40% 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
• Rent growth +4.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

Key facts

• 4,726 sq ft lot
• Built 1920
• Listed 13 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 25.7% 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 (+8.1%/yr); 91 active listings in the ZIP; lower-income renter base — watch delinquency; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• At $1,883/mo this rent would consume 64% of the median local household income ($35k/yr) (locally 815% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $7k of equity ($449 loan paydown + $6k 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 + 8.0% rent growth), your $18k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 16y ago; this cycle's ask has dropped $115k (64%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $65,000

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: 2.90% ✓
• Cap rate: 25.71%
• Cash-on-cash: 69.33%
• DSCR: 4.08
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $109,098
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1921 W Chestnut St	0.68mi	4/3.5	3,048 (-8%)	12mo	$65,000	$21	41
1382 Dixie Hwy	0.74mi	5/2.5 (+1)	3,152 (-5%)	21mo	$296,000	$94	35
2511 W Chestnut St	0.71mi	5/2.0 (+1)	2,863 (-13%)	12mo	$94,500	$33	27

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 84.7%
• Equity multiple: 7.17×
• Total profit: $112,347
• Equity at exit: $58,557

10-year hold

• IRR: 80.8%
• Equity multiple: 17.64×
• Total profit: $302,873
• Equity at exit: $126,281

Cash invested: $18,200 (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 40210

• Home prices YoY: 12.1%
• Rents YoY: 8.1%
• Active inventory: 91
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,883 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$68 /mo · $819/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $1,052

Break-even live

Break-even rent $552

Max offer price $65,000

Occupancy floor 39%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2025-09-05
   soldstatus $170,000 Closed 621-char remark

   Show marketing remark (621 chars)

   This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

2. 2025-07-17
   status Pending 621-char remark

   Show marketing remark (621 chars)

   This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

3. 2025-06-26
   historical Active Under Contract 621-char remark

   Show marketing remark (621 chars)

   This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

4. 2025-06-18
   status Active 621-char remark

   Show marketing remark (621 chars)

   This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

5. 2025-06-09
   historical Active Under Contract 621-char remark

   Show marketing remark (621 chars)

   This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

6. 2025-06-05
   price $175,000 621-char remark

   Show marketing remark (621 chars)

   This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

7. 2025-05-19
   status Active 621-char remark

   Show marketing remark (621 chars)

   This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

8. 2025-05-01
   historical Active Under Contract 621-char remark

   Show marketing remark (621 chars)

   This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

9. 2025-04-21
   status Active 621-char remark

   Show marketing remark (621 chars)

   This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

10. 2025-04-07
    historical Active Under Contract 621-char remark

    Show marketing remark (621 chars)

    This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

11. 2025-03-25
    listed $180,000 Active 621-char remark

    Show marketing remark (621 chars)

    This home is STUNNING!!! Less than a mile from the new West Louisville Hospital Don't miss this beautiful 4 bed 2.5 bath fully rebuilt home. Everything from the studs to the finishes is brand new. Enjoy the large first floor primary bedroom with a big walk in closet. Also on the first floor is an open foyer, a common half bath, a mudroom. and a kitchen that was built to host. Endless cabinet space and an island for eating or socializing. As you go up to the second floor you are greeted by 3 more bedrooms and another full bath. The exterior offers a refinished front porch and a private back yard.

12. 2024-05-15
    soldstatus $65,000
13. 2024-04-10
    status Pending
14. 2024-04-03
    price $65,000
15. 2024-03-28
    listed $79,900 Active
16. 2023-09-06
    historical
17. 2023-06-23
    price $79,900
18. 2023-06-23
    price $84,900
19. 2023-06-23
    listed $89,900 Active
20. 2010-11-29
    soldstatus $5,500
21. 2010-09-20
    listed $7,500

ⓘ 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: $819 · $68/mo
• Projected year-2 tax: $819 · $68/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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,599
• − Mortgage interest: −$3,641
• − Property taxes: −$819
• − Insurance: −$325
• − Repairs & maintenance: −$1,808
• − Management: −$1,808
• − Depreciation: −$1,891
• Taxable income: $12,307
• Est. tax owed @ 24.0%: −$2,954
• After-tax cash flow: $9,665/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): 13,518
• Household income: $35,347
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 815.0

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 (84%)
• Race & ethnicity: Black 84% White 8% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3%

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: ▲ 28.45%
• Current HPI: 264.0146
• Rent YoY: ▲ 8.05%
• 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

+2166.7% since first listed

21 events — show timeline

• 2025-09-05 Sold (MLS) $170,000 Metro Search MLS
• 2025-07-17 Pending — Metro Search MLS
• 2025-06-26 Contingent — Metro Search MLS
• 2025-06-18 Relisted — Metro Search MLS
• 2025-06-09 Contingent — Metro Search MLS
• 2025-06-05 Price Changed $175,000 Metro Search MLS
• 2025-05-19 Relisted — Metro Search MLS
• 2025-05-01 Contingent — Metro Search MLS
• 2025-04-21 Relisted — Metro Search MLS
• 2025-04-07 Contingent — Metro Search MLS
• 2025-03-25 Listed $180,000 Metro Search MLS
• 2024-05-15 Sold (Public Records) $65,000 Public Records
• 2024-04-10 Pending — Metro Search MLS
• 2024-04-03 Price Changed $65,000 Metro Search MLS
• 2024-03-28 Listed $79,900 Metro Search MLS
• 2023-09-06 Listing Removed — Metro Search MLS
• 2023-06-23 Listed $89,900 Metro Search MLS
• 2023-06-23 Price Changed $84,900 Metro Search MLS
• 2023-06-23 Price Changed $79,900 Metro Search MLS
• 2010-11-29 Sold (MLS) $5,500 Metro Search MLS
• 2010-09-20 Listed $7,500 Metro Search MLS

Property tax history

+22.0%/yr

Latest (2025): $819 · +14.9% YoY. Source: county tax records.