2733 Hale Av

Gutted to the studs with the expensive prep already paid for. New framing, new windows, new exterior doors, and PEX rough-in are in the building. Buy It Now at $47,000, roughly $75,000 to $90,000 to finish, against a $193,000 ARV. Five bedrooms and two baths, the only five bedroom in the comp set. Vacant and on a lockbox.

THE NUMBERS

• Buy It Now: $47,000

• Estimated cost to finish: $75,000 to $90,000

• ARV: $193,000, the average of the three comparable finished sales

• All in near $130,000 against a $193,000 exit

• Hard cost already standing in the building: roughly $50,000 to $75,000

INCOME

• Market rent finished: $1,900 a month

• Louisville Metro Housing Authority five bedroom voucher payment standard: $2,248

• LMHA sets Housing Choice Voucher standards at 100 percent of Metro Area Fair Market Rent, flat across every zip code, so 40211 carries the same standard as the east end. A five bedroom in a low rent zip is where that gap is widest.

• At $1,900 against a roughly $130,000 all in basis, that is about 1.46 percent monthly and a 17.5 percent gross yield

• Rent figures are estimates. Voucher rents remain subject to LMHA rent reasonableness review.

ALREADY DONE

• Demo complete, house is open to the studs

• New framing

• New windows

• New exterior doors

• Plumbing roughed in with PEX

• Some electrical

• Envelope is closed, so drywall can proceed without waiting on weather

WHAT REMAINS

• HVAC

• Finish electrical, including a 200 amp upgrade from the existing 100 amp service

• Finish plumbing and the two baths

• Drywall

• Kitchen

• Flooring, trim and paint

• Exterior

HOW THE ARV IS BUILT

• Three sales carry the number: 1222 Cypress at $210,000, 2832 Greenwood at $205,000, and 2703 Garland at $163,000. All three are full renovations sold on the open market. They average $193,000.

• The same three average $96 per foot. Against the 2,019 sqft of record that gives $193,800, so the dollar average and the per foot average agree.

• Two further sales appear in the table below and are deliberately excluded from the average. 2625 Garland sold the week a buyer's loan collapsed, so its $142,000 reflects urgency rather than market. 3125 W Kentucky stopped at cosmetics and kept 1.5 baths, so at $152,000 it prices an inferior finish to what this rebuild delivers.

• Bath count does not drive price here. 2832 Greenwood carries one bath per MLS and still outsold that 1.5 bath renovation by $53,000. Finish depth sets the number.

• At roughly 2,350 sqft finished this would be among the largest renovated homes in the pocket, and the only one with five bedrooms.

KNOWN RISKS

• The average leans on 2832 Greenwood, the highest price per foot in the set at $116 and the oldest of the three at May 2025. Take that comp out and the remaining two average $186,500.

• The added area at the rear and on the second floor is unpermitted. One permit appears in the county record, a 2012 electrical service restore. An appraiser may decline to credit the added square footage.

• Square footage of record is 2,019. The added area may push the finished number toward 2,350. Buyer to verify square footage, lot size, and permit status on any added living area.

• At studs, so cash or hard money only. Not conventionally financeable.

• The framing and PEX rough-in have stood open roughly four years. Inspect for moisture, rot, and missing copper or wire.

ZONING

• Traditional Neighborhood form district

• Buyer to verify base zoning and any rezoning requirement with Louisville Metro Planning and Design Services before assuming multi unit use

THE PROPERTY

• 5 bed / 2 bath as configured

• Two story single family, built 1900

• 2,019 sqft of record on a 6,733 sqft lot

• Parkland, 40211

• Taxes $977 a year on a $76,090 assessment

• Vacant and on a lockbox

Sold as is. Buy It Now at $47,000. $2,500 non refundable EMD. Call for access and the rest of the file.