3423 Virginia Ave · Louisville, KY 40211

$95,000

3 bd · 1.0 ba · 884 sqft · SingleFamily · 76 Days on market

Built 1955 4,791 sqft lot Est $85k · 12% over

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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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +2.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Foreclosure property sold AS-IS. Great investment opportunity. Buyer to verify all info regarding subject. Cash sale only - must include proof of funds. Additional bank addendums to be signed. Good layout - ready to be rehabbed.

Key facts

• Convenient location
• 4,791 sq ft lot
• Built 1955

Tags

• INVESTMENT OPPORTUNITY
• CONVENIENT LOCATION
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Finance

• Other: Located in the Cedar Manor subdivision
• HOA & community: No association fee

Exterior

• Parking: No parking
• Utilities: Electricity connected; Natural gas available
• Home design: Single-family ranch-style home; One story
• Construction: Built in 1955; Vinyl siding; Shingle roof; 884 sq ft of above-grade finished living area
• Exterior features: Partial chain-link fencing; Lot is approximately 0.11 acres

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Three bedrooms, all on the first floor; Primary bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Interior features: Six total rooms; Three closets; No basement; Formal bedroom (one room described as 'Formal')
• Laundry & utility: First-floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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 21d 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 45% of the median local income ($32k/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 $657 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 + 4.9% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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.
• Current owner paid $4k; list at $95k implies a 2336% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.25% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.46%
• DSCR: 1.69
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $84,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3505 Regatta Way	0.15mi	3/1.0	925 (+5%)	10mo	$170,000	$184	77
3229 Kirby Ave	0.24mi	2/1.0 (-1)	950 (+8%)	2mo	$45,000	$47	70
1439 S 32nd St	0.49mi	3/1.0	930 (+5%)	11mo	$140,000	$151	59
1120 S 42nd St	0.66mi	3/1.0	869 (-2%)	9mo	$85,000	$98	59
3300 Hale Ave	0.18mi	2/1.0 (-1)	990 (+12%)	10mo	$20,000	$20	58
4147 Virginia Ave	0.64mi	3/1.0	947 (+7%)	2mo	$80,200	$85	57
1127 S 32nd St	0.29mi	2/1.0 (-1)	970 (+10%)	11mo	$43,333	$45	56
844 Louis Coleman Jr Dr	0.48mi	3/1.0	1,008 (+14%)	3mo	$109,000	$108	52
2645 Grand Ave	0.75mi	2/1.0 (-1)	926 (+5%)	3mo	$62,000	$67	49
3100 Southern Ave	0.56mi	2/1.0 (-1)	816 (-8%)	9mo	$78,000	$96	48
3301 Greenwood Ave	0.33mi	2/1.5 (-1)	769 (-13%)	10mo	$123,000	$160	48
807 S 31st St	0.69mi	3/1.0	952 (+8%)	12mo	$25,500	$27	45

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: 8.2%
• Equity multiple: 1.33×
• Total profit: $8,682
• Equity at exit: $14,165

10-year hold

• IRR: 18.9%
• Equity multiple: 2.70×
• Total profit: $45,273
• Equity at exit: $8,214

Cash invested: $26,600 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,186 high
• Mortgage (P&I): −$498
• Tax from tax record: −$57 /mo · $683/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $343

Break-even live

Break-even rent $753

Max offer price $95,000

Occupancy floor 66%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1145 Louis Coleman Jr Dr Louisville, KY	2.0	1.0	913	$875	$0.96	24d	1	0.13mi
3611 Regatta Way Louisville, KY	3.0	1.0	1035	$1,450	$1.40	16d	1	0.21mi
3215 Virginia Ave Louisville, KY	3.0	1.0	975	$924	$0.95	24d	1	0.22mi
3122 W Kentucky St Louisville, KY	3.0	1.0	1030	$1,150	$1.12	24d	1	0.50mi
1418 Beech St Unit 2 Louisville, KY	2.0	1.0	1000	$980	$0.98	21d	1	0.52mi
2913 Dumesnil St Apt 3 Louisville, KY	3.0	1.0	1112	$740	$0.67	10d	1	0.53mi
1439 Beech St Apt 1 Louisville, KY	3.0	1.5	1000	$820	$0.82	24d	1	0.57mi
823 S 38th St Louisville, KY	3.0	1.0	1100	$1,195	$1.09	3d	1	0.58mi
832 Hazel St Louisville, KY	2.0	1.0	720	$1,095	$1.52	3d	1	0.61mi
814 S 33rd St Louisville, KY	3.0	1.0	1104	$1,350	$1.22	3d	1	0.62mi
1155 S 28th St Unit 4 Louisville, KY	4.0	2.0	1010	$1,350	$1.34	24d	1	0.66mi
2821 Greenwood Ave #1 Louisville, KY	3.0	1.0	1113	$1,300	$1.17	24d	1	0.67mi
833 S 41st St Louisville, KY	3.0	2.0	786	$1,250	$1.59	24d	1	0.68mi
1339 S 28th St Unit 3 Louisville, KY	3.0	1.0	1125	$1,175	$1.04	20d	1	0.69mi
729 S 39th St Unit 1 Louisville, KY	2.0	1.0	800	$800	$1.00	24d	1	0.72mi
4221 Sunset Ave Louisville, KY	3.0	1.0	1075	$1,199	$1.12	24d	1	0.72mi
2706 Hale Ave Unit 1 Louisville, KY	3.0	1.0	1100	$1,400	$1.27	24d	1	0.75mi
2706 Hale Ave Unit 2 Louisville, KY	2.0	1.0	900	$1,250	$1.39	24d	1	0.75mi
1622 Beech St Louisville, KY	4.0	1.0	1108	$1,445	$1.30	16d	1	0.76mi
1804 Russell Lee Dr Louisville, KY	1.0–3.0	1.0–1.5	810	$1,304	$1.61	2d	1	0.78mi
2708 Greenwood Ave Apt 1 Louisville, KY	3.0	1.0	1100	$1,300	$1.18	24d	1	0.78mi
714 S 40th St #2 Louisville, KY	3.0	1.0	1000	$1,250	$1.25	24d	1	0.80mi
2710 W Kentucky St Apt 2 Louisville, KY	3.0	1.0	1015	$1,300	$1.28	24d	1	0.81mi
715 S 41st St Unit 1 Louisville, KY	4.0	1.0	1000	$1,295	$1.29	10d	1	0.82mi
2614 Virginia Ave Louisville, KY	2.0	1.0	975	$925	$0.95	24d	1	0.82mi
2724 Garland Ave Unit 202 Louisville, KY	2.0	1.0	950	$745	$0.78	3d	1	0.84mi
701 Hazel St Unit 3 Louisville, KY	2.0	1.0	832	$800	$0.96	10d	1	0.84mi
652 S 37th St #9 Louisville, KY	3.0	1.0	1070	$1,095	$1.02	24d	1	0.90mi
666 Eastlawn Ave Louisville, KY	2.0	1.0	936	$895	$0.96	16d	1	0.90mi
648 S 37th St #3 Louisville, KY	2.0	1.0	807	$850	$1.05	24d	1	0.91mi
714 S 42nd St Louisville, KY	3.0	1.0	1078	$1,150	$1.07	16d	1	0.92mi
4514 Winnrose Way Louisville, KY	3.0	1.5	1064	$1,500	$1.41	2d	1	0.95mi
2016 S 40th St Louisville, KY	2.0	1.0	700	$980	$1.40	16d	1	1.00mi
3004 Wyandotte Ave Louisville, KY	2.0	1.0	700	$1,200	$1.71	16d	1	1.03mi
3019 Penway Ave Louisville, KY	2.0	1.0	700	$960	$1.37	12d	1	1.09mi
3421 River Park Dr Louisville, KY	3.0	1.0	994	$1,250	$1.26	24d	1	1.10mi
2733 Chase Ct Louisville, KY	2.0	1.0	900	$900	$1.00	16d	1	1.11mi
2706 Wyandotte Ave Louisville, KY	2.0	1.0	756	$1,295	$1.71	3d	1	1.14mi
2400 Burwell Ave Louisville, KY	2.0	1.0	972	$895	$0.92	16d	1	1.14mi
3819 River Park Dr Louisville, KY	3.0	1.0	1108	$1,090	$0.98	20d	1	1.15mi

Listing history 18 events

1. 2026-06-18
   days on market $95,000 Active 76 DOM
2. 2026-06-17
   days on market $95,000 Active 75 DOM
3. 2026-06-16
   days on market $95,000 Active 74 DOM
4. 2026-06-15
   days on market $95,000 Active 73 DOM
5. 2026-06-13
   days on market $95,000 Active 71 DOM
6. 2026-06-10
   days on market $95,000 Active 68 DOM
7. 2026-06-09
   days on market $95,000 Active 67 DOM
8. 2026-06-08
   days on market $95,000 Active 66 DOM
9. 2026-06-07
   days on market $95,000 Active 65 DOM
10. 2026-06-03
    days on market $95,000 Active 61 DOM
11. 2026-06-02
    days on market $95,000 Active 60 DOM
12. 2026-06-01
    days on market $95,000 Active 59 DOM
13. 2026-05-31
    days on market $95,000 Active 58 DOM
14. 2026-04-03
    listed $95,000 Active
15. 2009-02-12
    soldstatus $3,900 228-char remark

    Show marketing remark (228 chars)

    Foreclosure property sold AS-IS. Great investment opportunity. Buyer to verify all info regarding subject. Cash sale only - must include proof of funds. Additional bank addendums to be signed. Good layout - ready to be rehabbed.

16. 2008-08-04
    listed $3,899 228-char remark

    Show marketing remark (228 chars)

    Foreclosure property sold AS-IS. Great investment opportunity. Buyer to verify all info regarding subject. Cash sale only - must include proof of funds. Additional bank addendums to be signed. Good layout - ready to be rehabbed.

17. 2004-02-28
    historical
18. 2003-08-12
    listed $34,500

ⓘ 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: $683 · $57/mo
• Projected year-2 tax: $817 · $68/mo
• Expected delta: +$134/yr (+$11/mo · 19.6%)

ⓘ 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 ≥104°F today · 19 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: $14,238
• − Mortgage interest: −$5,321
• − Property taxes: −$683
• − Insurance: −$475
• − Repairs & maintenance: −$1,139
• − Management: −$1,139
• − Depreciation: −$2,764
• Taxable income: $2,717
• Est. tax owed @ 24.0%: −$652
• After-tax cash flow: $3,460/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

+175.4% since first listed

5 events — show timeline

• 2026-04-03 Listed $95,000 Metro Search MLS
• 2009-02-12 Sold (MLS) $3,900 Metro Search MLS
• 2008-08-04 Listed $3,899 Metro Search MLS
• 2004-02-28 Listing Removed — Metro Search MLS
• 2003-08-12 Listed $34,500 Metro Search MLS

Property tax history

+7.8%/yr

Latest (2025): $683 · -1.9% YoY. Source: county tax records.