Updated 3 months ago on . Most recent reply
Just Put a 40‑Unit Under Contract in Owensboro, KY — Looking for Operator Insights
Just locked up a 40‑unit multifamily property in Owensboro, KY and wanted to share the deal breakdown for anyone who likes analyzing stabilized assets.
The property is already cash‑flowing with a strong DSCR, and the major CapEx items are done — new roof, gutters, exterior work, etc. Rents are still under market, so the plan is a simple value‑add: light interior upgrades, improved management, and bringing rents to market over time.
I’m handling the acquisition, lender coordination, and overall business plan.
Would love to hear from anyone who has experience operating in Kentucky or specifically in the Owensboro market. Curious what others have seen in terms of:
• rent growth
• tenant base
• management quality
• renovation ROI
• lender preferences in this region
Always appreciate learning from people who’ve operated in similar markets.
Happy to answer questions about the underwriting, business plan, or anything else related to the deal.