2BR/1BA + Office Condo | Vacant | HOA Covers Heat, A/C, Water & Sewer | ~9 % Cap | Priced to Move

$92,900

Location

Create a free account to unlock the full address — and get new deals in your inbox.

Louisville, KY 40241

Details
  • Type: Condo
  • Bedrooms: 2
  • Bathrooms: 1
  • Square Feet: 935
  • Total Units: 1
Description

the easiest rental you'll ever fill: a vacant 2-bedroom, 1-bath plus dedicated office condo where the HOA covers heating, cooling, water, and sewer — your tenant's only utility bill is electric. Tenants stay longer and pay on time when their cost of living is predictable and low.

Priced to be the obvious buy in the complex. Asking price $92,900 — under every recent building comp and the active competing listing

Recent comps $100,000 closed Apr 2026 (9614); $96,000 / $108 per sqft Mar 2025 (Unit 8); active listing next door at $95,000 (9612 #11)

Layout 2BR/1BA + separate office/bonus room — one of the larger footprints in the complex 

Last signed lease $1,179/mo — lease available in due-diligence packet

Underwriting rent $1150/mo (conservative vs. signed lease and $1,100–$1,360 city 2BR medians)

Gross annual rent @ $1,150 $13,800

HOA $401.60/mo ($4,819/yr) — includes heat, A/C, water, sewer, exterior, roof, grounds

Property tax (2025 actual) $669/yr

NOI (before reserves) ~$8,312/yr

Cap rate (before reserves) ~8.9%

Gross rent multiplier 6.7

(NOI shown before insurance/vacancy reserves — every underwriter applies their own; taxes here are the actual 2025 bill, not an estimate.)

Condition — disclosed up front: light cosmetic work only. Several laminate floor boards to patch/replace, drywall repair from prior TV mounts, expanding-foam cleanup around a few outlets. No mechanical, roof, plumbing, or electrical issues — the panel is upgraded and cooling is handled by in-unit mini-splits plus HOA-provided central HVAC. Estimate $200–$500 with any handyman; reflected in the pricing.

360 Tour:

https://kuula.co/share/collection/7TWvf?logo=1&info=1&fs=1&vr=0&sd=1&thumbs=1

Upgrades that separate this unit from the comps:

  • Upgraded electrical panel — modern capacity, inspection-ready.

  • Mini-split in Living room/ fans in everyroom — individual zone comfort on the hottest days, on top of HOA-provided heating and cooling. Tenants notice.

  • Noise-eliminating windows and doors — kills the Westport Rd traffic hum; show the unit at rush hour and let the silence sell it.

  • Dedicated office/bonus room — post-2020 renters pay for a real workspace; effectively a third room most units in the complex don't have.

  • In-unit washer/dryer — the #1 rent premium feature in this complex.

  • Vacant — easy showings, any time; place your tenant day one.

Ideal for: cash buyers seeking yield, DSCR-loan investors (rent covers debt at current rates with standard leverage), or a 1031 parking play with immediate income.

Due-diligence packet available: signed $1,179 lease, full 360° virtual tour, HOA statements, actual property tax bill, 2025 expense detail.

Vacant = showings any time, including rush hour. Bring your contractor, your property manager, and your calculator.