3722 Vermont Ave · Louisville, KY 40211

$225,000

7 bd · 3.0 ba · 2,880 sqft · MultiFamily · 22 Days on market

Built 1928 5,637 sqft lot Est $181k · 24% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

ABSOLUTE AUCTION EXTRAVAGANZA! Auction Date: Thursday January 21st. Time: 5:00pm Location: Cottonwood Suites, 4110 Dixie Highway. 15 Properties Selling to Highest Winning Bidder Regardless of Price. ***This property is currently fully rented*** UNIT ONE: Upstairs, 3 Beds, 1 Bath, $500/month and a $250 security deposit** UNIT TWO: Downstairs, 2 Beds, 1 Bath, $350/month and a $100 security deposit*** UNIT THREE: Downstairs, 2 beds, 1 bath, $300/month, $200 security deposit***Auction Conducted by Elizabeth Monarch & Lonnie Gann, Auctioneers with Auction Solutions For terms and conditions visit www.auctionsolutionsllc.com. All Realtors must register his and her client 48 hours prior to auction.

Key facts

• 5,637 sq ft lot
• Built 1928
• Listed 22 days

Property features AI

Finance

• Other: Building area reported as 2,880 total; Lot dimensions approximately 35.5 x 161 (0.13 acres)
• HOA & community: No association fee

Exterior

• Parking: No covered parking
• Utilities: Multiple furnaces (3); No central HVAC units reported; Other utilities (unspecified)
• Home design: Triplex; Built in 1928; Shingle roof; Concrete and brick construction
• Construction: Concrete and brick construction; Shingle roof; Year built 1928
• Exterior features: No notable exterior features listed; Sidewalks on the lot

Interior

• Kitchen: Kitchens in multiple units (2 on 1st level, 1 on 2nd level); Ranges/stoves in units (2 on 1st level, 1 on 2nd level); Refrigerators in units (2 on 1st level, 1 on 2nd level); No dishwashers listed
• Bedrooms: 7 total bedrooms (4 on 1st level, 3 on 2nd level)
• Bathrooms: 3 full bathrooms (2 on 1st level, 1 on 2nd level)
• Heating & cooling: Electric forced-air heating (3 furnaces); Wall/window air conditioning units
• Interior features: Separate meters for units; Basement with storage
• Laundry & utility: Laundry in multiple units (2 on 1st level, 1 on 2nd level)

What this means for you Summary

Snapshot

• This is a 7-bed/3.0-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.8% 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; lower-income renter base — watch delinquency; 2,836 units permitted in Jefferson County in 2024 (1,558 in 5+ unit buildings).
• At $3,233/mo this rent would consume 122% 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 $2k of loan paydown is wiped out by about $7k 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 $63k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $20k; list at $225k implies a 1036% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,625 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.44% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.19%
• DSCR: 2.03
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $181,440
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
715 S 41st St	0.54mi	6/2.0 (-1)	3,072 (+7%)	5mo	$194,000	$63	51

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: 16.8%
• Equity multiple: 1.69×
• Total profit: $43,684
• Equity at exit: $33,548

10-year hold

• IRR: 26.6%
• Equity multiple: 3.53×
• Total profit: $159,534
• Equity at exit: $19,454

Cash invested: $63,000 (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: 17.9×

Monthly cashflow live

• Estimated rent: $3,233 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$63 /mo · $756/yr
• Insurance: −$94
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $1,162

Break-even live

Break-even rent $1,762

Max offer price $225,000

Occupancy floor 59%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,092
1× unit	3	1	$1,142
Total (3 units)			$3,233

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $225,000 Active 22 DOM
2. 2026-06-17
   days on market $225,000 Active 21 DOM
3. 2026-06-16
   days on market $225,000 Active 20 DOM
4. 2026-06-15
   days on market $225,000 Active 19 DOM
5. 2026-06-13
   days on market $225,000 Active 17 DOM
6. 2026-06-10
   days on market $225,000 Active 14 DOM
7. 2026-06-09
   days on market $225,000 Active 13 DOM
8. 2026-06-08
   days on market $225,000 Active 12 DOM
9. 2026-06-07
   days on market $225,000 Active 11 DOM
10. 2026-06-03
    days on market $225,000 Active 7 DOM
11. 2026-06-02
    days on market $225,000 Active 6 DOM
12. 2026-06-01
    days on market $225,000 Active 5 DOM
13. 2026-05-31
    days on market $225,000 Active 4 DOM
14. 2026-05-26
    listed $225,000 Active
15. 2025-08-21
    historical
16. 2025-05-21
    listed $225,000 Active
17. 2016-02-10
    soldstatus $19,800 Closed 703-char remark

    Show marketing remark (703 chars)

    ABSOLUTE AUCTION EXTRAVAGANZA! Auction Date: Thursday January 21st. Time: 5:00pm Location: Cottonwood Suites, 4110 Dixie Highway. 15 Properties Selling to Highest Winning Bidder Regardless of Price. ***This property is currently fully rented*** UNIT ONE: Upstairs, 3 Beds, 1 Bath, $500/month and a $250 security deposit** UNIT TWO: Downstairs, 2 Beds, 1 Bath, $350/month and a $100 security deposit*** UNIT THREE: Downstairs, 2 beds, 1 bath, $300/month, $200 security deposit***Auction Conducted by Elizabeth Monarch & Lonnie Gann, Auctioneers with Auction Solutions For terms and conditions visit www.auctionsolutionsllc.com. All Realtors must register his and her client 48 hours prior to auction.

18. 2016-01-26
    status Pending 703-char remark

    Show marketing remark (703 chars)

    ABSOLUTE AUCTION EXTRAVAGANZA! Auction Date: Thursday January 21st. Time: 5:00pm Location: Cottonwood Suites, 4110 Dixie Highway. 15 Properties Selling to Highest Winning Bidder Regardless of Price. ***This property is currently fully rented*** UNIT ONE: Upstairs, 3 Beds, 1 Bath, $500/month and a $250 security deposit** UNIT TWO: Downstairs, 2 Beds, 1 Bath, $350/month and a $100 security deposit*** UNIT THREE: Downstairs, 2 beds, 1 bath, $300/month, $200 security deposit***Auction Conducted by Elizabeth Monarch & Lonnie Gann, Auctioneers with Auction Solutions For terms and conditions visit www.auctionsolutionsllc.com. All Realtors must register his and her client 48 hours prior to auction.

19. 2016-01-06
    listed $1 Active 703-char remark

    Show marketing remark (703 chars)

    ABSOLUTE AUCTION EXTRAVAGANZA! Auction Date: Thursday January 21st. Time: 5:00pm Location: Cottonwood Suites, 4110 Dixie Highway. 15 Properties Selling to Highest Winning Bidder Regardless of Price. ***This property is currently fully rented*** UNIT ONE: Upstairs, 3 Beds, 1 Bath, $500/month and a $250 security deposit** UNIT TWO: Downstairs, 2 Beds, 1 Bath, $350/month and a $100 security deposit*** UNIT THREE: Downstairs, 2 beds, 1 bath, $300/month, $200 security deposit***Auction Conducted by Elizabeth Monarch & Lonnie Gann, Auctioneers with Auction Solutions For terms and conditions visit www.auctionsolutionsllc.com. All Realtors must register his and her client 48 hours prior to auction.

ⓘ 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: $1,935 · $161/mo
• Expected delta: +$1,179/yr (+$98/mo · 156.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,796
• − Mortgage interest: −$12,603
• − Property taxes: −$756
• − Insurance: −$1,792
• − Repairs & maintenance: −$3,104
• − Management: −$3,104
• − Depreciation: −$6,545
• Taxable income: $10,892
• Est. tax owed @ 24.0%: −$2,614
• After-tax cash flow: $11,328/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

+1036.4% since first listed

6 events — show timeline

• 2026-05-26 Listed $225,000 Metro Search MLS
• 2025-08-21 Listing Removed — Metro Search MLS
• 2025-05-21 Listed $225,000 Metro Search MLS
• 2016-02-10 Sold (MLS) $19,800 Metro Search MLS
• 2016-01-26 Pending — Metro Search MLS
• 2016-01-06 Listed $1 Metro Search MLS

Property tax history

+0.1%/yr

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