736 Iowa Ave · Louisville, KY 40208

$115,000

2 bd · 1.0 ba · 920 sqft · SingleFamily · 18 Days on market

Built 1925 5,001 sqft lot Est $138k · 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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 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 MLS

DRASTICALLY REDUCED!!!! Completely updated ranch...be careful you might just think it's new!! Plus this home sits on a beautiful flat home site with a back yard that's great for a game of kick ball or playing with the family dog. Great location...just minutes to U of L , Papa Johns Cardinal Stadium, shopping, downtown and expressways. Renovations include all new drywall and insulation, not only do your new walls and ceilings look beautiful but your LG&E bills will be so efficient in this home. New roof. New gas stove. New kitchen cabinets and counter top. New blinds throughout. Updated bathroom. All new flooring. Carpet. Marble. Vinyl. Lighting, fans and doors. UPDATES & FEATURES - Vinyl tilt-in windows * Two large windows * Two large bedrooms * HVAC * Hot water heater * R30 blown insulation * R19 Batt insulation * Cedar lined closets * Large storage shed w/ skylight * Full unfinished basement (dry)...QUICK CLOSING * Immediate Possession * Clean... Attention First Time Home Buyers Buy this home and receive $8000. back this year. call agent for details...MAKE OFFER...

Key facts

• Covered front porch
• Unfinished basement
• Large backyard

Tags

• COVERED FRONT PORCH
• STYLISH BARN DOOR
• REFRESHED KITCHEN
• UNFINISHED BASEMENT
• NEW DECK
• LARGE BACKYARD

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 $173 ($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 $112k (2.4% below list).
• Recommended offer: $112k (2.4% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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+, 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 (+6.1%/yr); 77 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 18 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $115k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $112,219 (2.4% below list)

Questions for the listing agent

1. Built in 1925 — 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: 8.09%
• Cash-on-cash: 6.43%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $138,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
810 Weller Ave	0.12mi	2/1.0	840 (-9%)	2mo	$124,000	$148	78
528 M St	0.23mi	3/2.0 (+1)	944 (+3%)	1mo	$142,000	$150	75
611 Colorado Ave	0.51mi	2/1.0	925 (+0%)	1mo	$110,000	$119	75
520 M St	0.25mi	2/1.0	986 (+7%)	2mo	$57,500	$58	74
914 Euclid Ave	0.22mi	2/1.0	804 (-13%)	1mo	$128,000	$159	68
1325 Lillian Ave	0.37mi	2/1.0	847 (-8%)	3mo	$140,000	$165	67
1200 Tennessee Ave	0.59mi	3/1.5 (+1)	920 (0%)	2mo	$145,000	$158	63
1323 Thornberry Ave	0.45mi	2/1.0	823 (-10%)	1mo	$140,000	$170	60
1148 Euclid Ave	0.62mi	3/1.0 (+1)	950 (+3%)	2mo	$150,000	$158	59
1315 Weller Ave	0.63mi	2/1.0	996 (+8%)	3mo	$125,000	$126	54
1332 Phyllis Ave	0.54mi	2/1.0	1,030 (+12%)	2mo	$150,000	$146	53
510 Longfield Ave	0.70mi	2/1.0	800 (-13%)	2mo	$115,000	$144	44

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: -3.3%
• Equity multiple: 0.87×
• Total profit: $-4,118
• Equity at exit: $17,147

10-year hold

• IRR: 9.3%
• Equity multiple: 1.81×
• Total profit: $25,992
• 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: 77
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,122 high
• Mortgage (P&I): −$603
• Tax from tax record: −$63 /mo · $756/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $173

Break-even live

Break-even rent $904

Max offer price $115,000

Occupancy floor 80%

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
2826 Taylor Blvd Louisville, KY	3.0	1.0	1044	$1,345	$1.29	23d	1	0.10mi
3107 Montana Ave Louisville, KY	2.0	1.0	986	$995	$1.01	23d	1	0.21mi
1120 Weller Ave Louisville, KY	2.0	1.0	912	$1,500	$1.64	3d	1	0.22mi
2716 S 6th St Louisville, KY	1.0	1.0	881	$950	$1.08	16d	1	0.24mi
508 M St Louisville, KY	2.0	1.5	1035	$1,100	$1.06	23d	1	0.27mi
1301 Lillian Ave Louisville, KY	3.0	1.0	974	$1,250	$1.28	16d	1	0.33mi
1122 Larchmont Ave Unit B Louisville, KY	2.0	1.0	864	$750	$0.87	23d	1	0.36mi
1122 Larchmont Ave Unit B Louisville, KY	1.0	1.0	700	$750	$1.07	17d	1	0.36mi
1122 Larchmont Ave Louisville, KY	2.0	1.0	864	$750	$0.87	16d	1	0.36mi
2805 S 4th St #1 Louisville, KY	1.0	1.0	750	$725	$0.97	21d	1	0.40mi
1305 Larchmont Ave Louisville, KY	2.0	1.0	1113	$1,350	$1.21	16d	1	0.44mi
1055 Euclid Ave Louisville, KY	2.0	1.0	914	$1,325	$1.45	23d	1	0.45mi
2913 S 3rd St Louisville, KY	2.0	1.0	1026	$1,200	$1.17	23d	1	0.48mi
2501 S 4th St Louisville, KY	1.0–3.0	1.0–3.0	897	$3,732	$4.16	3d	1	0.60mi
2501 S 3rd St Louisville, KY	1.0–2.0	1.0–2.0	1011	$1,550	$1.53	3d	2	0.60mi
623 Dresden Ave Louisville, KY	2.0	1.0	750	$975	$1.30	16d	1	0.70mi
615 Dresden Ave Louisville, KY	3.0	1.0	884	$1,450	$1.64	23d	1	0.71mi
1438 Lillian Ave Louisville, KY	2.0	1.0	777	$1,050	$1.35	17d	1	0.71mi
1637 Thornberry Ave Louisville, KY	2.0	1.0	700	$1,250	$1.79	3d	1	0.71mi
3860 Southern Pkwy Louisville, KY	3.0	1.0	1064	$1,250	$1.17	23d	1	0.71mi
4600 South St Unit PARKWAYE1 Louisville, KY	2.0	1.0	700	$749	$1.07	23d	1	0.76mi
3909 Southern Pkwy Unit 2 Louisville, KY	3.0	1.0	1000	$1,100	$1.10	3d	1	0.78mi
4012 Southern Pkwy Unit 8 Louisville, KY	1.0	1.0	600	$795	$1.32	14d	1	0.86mi
4012 Southern Pkwy Unit 5 Louisville, KY	1.0	1.0	600	$795	$1.32	23d	1	0.86mi
1111 Dresden Ave Louisville, KY	2.0	1.0	680	$1,100	$1.62	16d	1	0.87mi
309 W Whitney Ave Louisville, KY	1.0	1.0	700	$875	$1.25	23d	1	1.02mi
554 Camden Ave Louisville, KY	1.0	1.0	661	$875	$1.32	23d	1	1.05mi
1411 Sale Ave Louisville, KY	2.0	1.0	936	$1,000	$1.07	16d	1	1.09mi
1118 W Whitney Ave Louisville, KY	2.0	1.0	771	$1,199	$1.56	23d	1	1.13mi
1800 S 2nd St Louisville, KY	1.0	1.0	575	$950	$1.65	16d	7	1.14mi
1606 Algonquin Pkwy Unit 22 Louisville, KY	2.0	1.0	626	$750	$1.20	23d	1	1.15mi
1501 Bellamy Pl Louisville, KY	2.0–4.0	2.0–4.0	1074	$1,758	$1.64	3d	1	1.17mi
1105 Beecher St Louisville, KY	2.0	1.0	708	$1,150	$1.62	16d	1	1.19mi
3449 Powell Ave Louisville, KY	2.0	1.0	800	$1,000	$1.25	23d	1	1.22mi
415 Atwood St Louisville, KY	1.0	1.0	770	$995	$1.29	21d	1	1.22mi
218 W Florence Ave Unit 2 Louisville, KY	1.0	1.0	800	$765	$0.96	3d	1	1.23mi
1702 S 2nd St Apt 1 Louisville, KY	2.0	1.0	875	$1,100	$1.26	23d	1	1.23mi
1702 S 2nd St Apt 3 Louisville, KY	1.0	1.0	625	$875	$1.40	23d	1	1.23mi
520 Wainwright Ave Louisville, KY	2.0	1.0	1000	$1,495	$1.50	16d	1	1.23mi
533 Eastern Pkwy Louisville, KY	1.0	1.0	784	$1,200	$1.53	16d	1	1.24mi

Listing history 14 events

1. 2026-06-18
   pricestatus $115,000 Active 18 DOM
2. 2026-06-10
   status $125,000 Pending 18 DOM
3. 2026-06-09
   days on market $125,000 Active 18 DOM
4. 2026-06-08
   days on market $125,000 Active 17 DOM
5. 2026-06-07
   days on market $125,000 Active 16 DOM
6. 2026-06-03
   days on market $125,000 Active 12 DOM
7. 2026-06-02
   days on market $125,000 Active 11 DOM
8. 2026-06-01
   days on market $125,000 Active 10 DOM
9. 2026-05-31
   days on market $125,000 Active 9 DOM
10. 2026-04-27
    status Pending
11. 2026-04-23
    listed $125,000 Active
12. 2009-11-16
    soldstatus $57,950
13. 2009-11-13
    soldstatus $57,950 1091-char remark

    Show marketing remark (1091 chars)

    DRASTICALLY REDUCED!!!! Completely updated ranch...be careful you might just think it's new!! Plus this home sits on a beautiful flat home site with a back yard that's great for a game of kick ball or playing with the family dog. Great location...just minutes to U of L , Papa Johns Cardinal Stadium, shopping, downtown and expressways. Renovations include all new drywall and insulation, not only do your new walls and ceilings look beautiful but your LG&E bills will be so efficient in this home. New roof. New gas stove. New kitchen cabinets and counter top. New blinds throughout. Updated bathroom. All new flooring. Carpet. Marble. Vinyl. Lighting, fans and doors. UPDATES & FEATURES - Vinyl tilt-in windows * Two large windows * Two large bedrooms * HVAC * Hot water heater * R30 blown insulation * R19 Batt insulation * Cedar lined closets * Large storage shed w/ skylight * Full unfinished basement (dry)...QUICK CLOSING * Immediate Possession * Clean... Attention First Time Home Buyers Buy this home and receive $8000. back this year. call agent for details...MAKE OFFER...

14. 2009-07-20
    listed $62,500 1091-char remark

    Show marketing remark (1091 chars)

    DRASTICALLY REDUCED!!!! Completely updated ranch...be careful you might just think it's new!! Plus this home sits on a beautiful flat home site with a back yard that's great for a game of kick ball or playing with the family dog. Great location...just minutes to U of L , Papa Johns Cardinal Stadium, shopping, downtown and expressways. Renovations include all new drywall and insulation, not only do your new walls and ceilings look beautiful but your LG&E bills will be so efficient in this home. New roof. New gas stove. New kitchen cabinets and counter top. New blinds throughout. Updated bathroom. All new flooring. Carpet. Marble. Vinyl. Lighting, fans and doors. UPDATES & FEATURES - Vinyl tilt-in windows * Two large windows * Two large bedrooms * HVAC * Hot water heater * R30 blown insulation * R19 Batt insulation * Cedar lined closets * Large storage shed w/ skylight * Full unfinished basement (dry)...QUICK CLOSING * Immediate Possession * Clean... Attention First Time Home Buyers Buy this home and receive $8000. back this year. call agent for details...MAKE OFFER...

ⓘ 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: $756 · $63/mo
• Projected year-2 tax: $989 · $82/mo
• Expected delta: +$233/yr (+$19/mo · 30.8%)

ⓘ 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 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: $13,466
• − Mortgage interest: −$6,442
• − Property taxes: −$756
• − Insurance: −$575
• − Repairs & maintenance: −$1,077
• − Management: −$1,077
• − Depreciation: −$3,345
• Taxable income: $193
• Est. tax owed @ 24.0%: −$46
• After-tax cash flow: $2,024/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

+100.0% since first listed

5 events — show timeline

• 2026-04-27 Pending — Metro Search MLS
• 2026-04-23 Listed $125,000 Metro Search MLS
• 2009-11-16 Sold (Public Records) $57,950 Public Records
• 2009-11-13 Sold (MLS) $57,950 Metro Search MLS
• 2009-07-20 Listed $62,500 Metro Search MLS

Property tax history

+3.5%/yr

Latest (2025): $756 · -1.9% YoY. Source: county tax records.