$314,050 1405 Morton Louisville, KY

MLS: 1471969   Type: Multi-Family   County: Jefferson   City: Louisville   Area: Buchertwn-hghlnds-germantwn   Zip: 40204   Style: Duplex  

Mortgage $1,474 /mo



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Fabulous rehabbed Victorian in desirable Original Highlands. Reportedly Louisville's most popular neighborhood. Walking distance to restaurants, movies and city parks. This duplex could easily be converted back to single family with minor changes. This unique Painted Lady Victorian has been featured in the New York Times in 2007 and in the book Invisible City. Please follow this link to see this story: http://www.nytimes.com/2007/05/19/business/19home.html Presently there are 2 tenants the first floor pays $1675 per month on a 2 year lease which includes 1/2 of the gas and electric which owner pays. Their lease goes thru June 30, 2019. The second floor tenant pays $2050 and it is for 1 year and includes utilities. Exceptional returns for the smart investor. Please see this link for a story in the Courier Journal: The 2nd floor unit was a highly profitable Air BnB, and was previously used as a short term rental. We now have a one year lease at $2,000 per month thru June 2018. Please see the following video for a wonderful overview of this amazing home. https://www.youtube.com/watch?v=HvjUaIX4VOs The house has a very versatile floor plan (which can be set up a number of ways) 4 full bedrooms, library in the foyer, living room, dining room and family room; high ceilings, wood floors, four fireplaces, exposed brick, lots of sunlight (with bay windows to capture sun in the front and on sides during cold winters) along with numerous updates including zone cooling, modern kitchen (with unique customized kitchen counter made of small stones). There are 2 full bathrooms (custom master bathroom with Jacuzzi) and two decks (one elevated on the rear) and fully fenced yard! The Painted Lady is bursting with character and personality. Each room is decorated with bright pastel colors. You can't beat the location, neighborhood or home. Indeed, this is Louisville's most popular and beloved neighborhood known for its picturesque historic architecture. Visitors here are not only walking distance of gonzo writer Hunter Thompson's childhood home but walking distance to Louisville's most popular four star restaurants from around the world and the best nightlife for locals. Why live anywhere else when you can get such a great home and neighborhood? Home of a rock star? This beautiful Victorian was used in the MGM movie "The Song" when the star reached the top of the charts and lived the rock style life. The producers thought the home was so awesome they kept the pictures and furniture in place: https://www.youtube.com/watch?v=881_3tbHNBQ Last but not least: You can buy this amazing historic Victorian duplex for $349,500 and with the ground floor unit leased out on a two-year lease your net cost of living a month after all expenses is approximately $416.25. In addition you will build up roughly $390 of equity a month on a standard 30-year fixed mortgage at 4% APR and get an annual interest rate tax shelter of $10, 400. In other words, the economics of this deal is; you hardly pay anything with the tenant paying most of the mortgage at $1,750 a month that includes half gas and electric. Please call me about the economics of this tremendous investment opportunity.

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Price History

4/7/2017 Listed $395,000
4/27/2017 5% - $379,000
5/9/2017 6% - $359,405
5/27/2017 3% - $349,500
9/29/2017 6% - $329,500
12/4/2017 5% - $314,050

Age 117.00
Area 02-Buchertwn/Hghlnds/Germantwn
Block 027A
Construction Frame - Wood
Energy Central Air, Gas Heat
Listing Status Active
Municipality Louisville
Owner Pays Gas, Sewer, Trash Removal, Water
Property Type B
Public Remarks Fabulous rehabbed Victorian in desirable Original Highlands. Reportedly Louisville's most popular neighborhood. Walking distance to restaurants
Subdivision HIGHLANDS
Tenant Pays Cable
Term/Lease 1 year
Utilities City Sewer, City Water, Electric, Fuel:Natural
Year Built 1900

Interior Features

Above Grade Finished 2096.00
Below Grade Finished 0.00
Total Units 2.0000

Exterior Features

Covered Parking No
Exterior Balcony, Porch
Lot 0115
Lot Description Sidewalk
Number of Parking Spaces 0.0
Roof Asphalt Shingle

Property Schools

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Gallery (43 photos)

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Property vs Zip Code Avg (40204)

Price 314K Avg 335K

Sqr Feet 2,096 Avg 2,510

Cost / Sqr Ft $150 Avg $134

Visits 59 Avg 29

Days on Site 253 Avg 143

Walkscore® 73 Avg 72

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Listing Provided Courtesy Of: David Day Real Estate

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Location & Address

Keller Williams Realty Louisville East
9911 Shelbyville Road, Suite 100
Louisville, KY