Louisville 2 Bed Shotgun Near Churchill Downs, $65k-70k+ ARV

[Sean Williams]

Single family shotgun home in popular rental area near Churchill Downs. Approx 800-900 sqft, currently setup as a 1 bedroom but the floorplan could easily be arranged to cater for a 2 bedroom setup given the amount of total sqft. Lots of original charm in the trim work, as well as tall ceilings (9ft+). Decent size backyard and located just off I-254.

Needs $25k-$35k worth of work depending on how frisky you want to get...it's essentially an empty shell at the moment. Needs kitchen, bathroom, flooring, drywall work and fresh paint throughout. Other 2 bedroom homes are selling upwards of $70k+ depending on condition nearby. Likely not a good candidate for a flip, but could be a great BRRR property for a solid cash flowing, long-term rental.

Asking $28,700 cash

ARV $65-70k+

Rents $750 +/- (would definitely be higher for a section 8 tenant)

Click Here for Photos

Call/text me directly @ 502-252-1298

[Jay Leisten]

Thanks Sean! Wholesaler rehab should be a mandatory class. I’ve met 2-3 (usually general contractors or very experienced realtors) who wholesale and get the numbers right but I assume most are over priced by 10-15% and are off on rehabs by 40% since they never seem to include redoing the trim, Miss the rotten floor under the bathtub, and have never gotten an estimate for a plumber or electrician. Your ARV is right for the area, and so is your rehab from my experience, I’m just cheap. 😜