Real Estate Agent · Louisville, KY · Member since 2014 · 244 posts · 111 votes
10y
40220 is a great area to invest in. 40258 and 40272 South of Dixie Hwy (PRP, Valley Station, Valley Village) are good also, a lot of working class people and great rental areas.
Hot Spots: NuLu, Highlands, Butchertown, Germantown, Clifton.
Great Spots: Most areas east of 65 are really good.
Good Spots: All other areas are good meaning cash flow is great but areas are hit and miss.
STAY AWAY FROM SPOTS: West end! Mostly from Watterson Xway north and west of 65. Also neighborhoods around Churchill Downs are not so great but can cash flow well.
All in all the city is great and has a lot to offer. I feel prices are getting a little high but there are still deals to be had. You just have to know the areas well and pound the pavement.
If there is anything I can help with feel free to reach out. Thanks
Real Estate Agent · Louisville, KY · Member since 2014 · 244 posts · 111 votes
10y
40220 is a great area to invest in. 40258 and 40272 South of Dixie Hwy (PRP, Valley Station, Valley Village) are good also, a lot of working class people and great rental areas.
Louisville, KY · Member since 2015 · 166 posts · 83 votes
10y
I agree with what everyone else is saying. Stay away from west end. Prp, valley station, okolona are good working class neighborhoods. 40214 zip is good also.
Louisville, KY · Member since 2015 · 166 posts · 83 votes
10y
I agree with what everyone else is saying. Stay away from west end. Prp, valley station, okolona are good working class neighborhoods. 40214 zip is good also. I've heard that Churchill downs area can be a good money maker but seems like it would bring a lot of headache tenants to me. It can be kind of rough area
Investor · Louisville, KY · Member since 2011 · 296 posts · 248 votes
10y
@Noel Felix III - West side can really cash flow but it's a total ground game and not something I'd try remote. You have to know the blocks, you have to have outstanding processes for vetting tenants, the right sort of help and a tough skin. You also have to be patient if you're renting Section 8 as everything can take longer. I really like my west end properties and tenants and it's been good for me but it's not for everyone.
I was reading a thread earlier where a guy was talking about tough neighborhoods in his state and he said he wanted to have $60K to $80K all in (ARV) and rent them for $600 to $800. I like our numbers better... on the west side I want to have ~$45K ARV and rent them for $850 to $900.