Today's track: Incubus — Are You In?
Let me give you the number that changed how I'm thinking about this market here in Louisville and the surrounding areas of course (all ships rise!).
$3.2 billion. Under construction in downtown Louisville right now. Not proposed. Not approved. Shovels in the ground.
Add in the metro — UofL's new hospital system, the bourbon infrastructure binge, river district redevelopment, sports and entertainment corridors — and you're past $10 billion in active Louisville-area development.
And that's before you count what just happened at the state level. Last week, Ford agreed to a $2 billion investment into the former BlueOval SK facilities in Hardin County — 2,100 new jobs committed to Glendale, announced by Governor Beshear. Toyota just dropped $800 million into their Georgetown plant to expand BEV production and ramp up Camry and RAV4 output — part of a $1 billion Kentucky and Indiana commitment — plus another $4.4 million into Fayette and Scott County schools and Eastern Kentucky University. The state is being invested in at a level most people aren't paying attention to yet.
Shelby County grew 6.2% last year. ←And you know we have even more scope on why you should be investing in Shelby County! Oldham and Bullitt cracked Kentucky's top-10 fastest-growing counties. La Grange, Crestwood, Shelbyville, Mt. Washington — not bedroom communities anymore. Destinations.
The bourbon industry put $9 billion into Kentucky's economy. Film production topped $160 million. Historical Horse Racing generated $2.3 billion. Derby week alone moved hundreds of millions through this city in a single week. The airport is expanding. Southern Indiana is building hard across the river.
Kentucky is primed to keep doing what it's been doing — leading the country in rental appreciation and property appreciation. The fundamentals are here. The investment is here. The momentum is real.
Six properties that should pique your interest.
628 E Oak St — $429,999
Four-unit multifamily. Tenants in place. Gross rent verified at $4,251/month. You're buying an income stream, not a project. Strong bones, strong numbers from day one. After repair value is $520,000.
4221 S 2nd St — $370,000
Four-unit in South Louisville. Tenant-occupied. Current gross income $3,150–$3,525/month including pet rent and extras. Buy it today with income in place and room to grow as leases cycle. After repair revalue $400,000.
1347 S Floyd St — $379,000
Triplex in Old Louisville. Built 1910. Over 2,500 square feet. One of the most active rental pockets in the city — strong tenant pool, strong demand, and it's not slowing down. There's also an assumable FHA loan at 3.125% attached to this property. In today's rate environment, that number should stop you cold. After repair value $406,000.
7909 Barbour Manor Dr — $239,000
This one is rare — and I mean that literally. Secluded acreage in East Louisville. The east end has been one of the hottest corridors in this metro for years, and finding land with this kind of privacy and size out there is genuinely unusual. If you've been waiting for the right piece of land to build on your terms, in a part of the city that keeps growing — this is it. Properties like this don't come back around. Land Value Comp is $270,000.
4114 Bank St — $141,000
Fully renovated. Actively section 8 rented. Three bedrooms in Shawnee. The work is already done — new everything — and a tenant is already in place paying rent. Under $150k for a turnkey rental in this market is the kind of deal that disappears fast. If you want to be in the game quickly and cleanly, this is your door. Built in equity, after repair value is $234,000.
3636 Craig Ave — $138,500
Right by Churchill Downs. BRRRR it or flip it — either way the math works at this entry. Under $140k, real upside in the renovation, strong exit either direction. After repair value $233,000. If you've been wanting to run the BRRRR playbook or add a clean flip to the portfolio, this is a textbook setup. Don't overthink it.
Winner Realty has fourteen active listings right now — several of them are larger, active short-term rentals with CUPs or commercial zoning already in place. Submit an offer, let’s see what we can create from it.
If you're looking at any of the larger ones as an Airbnb play, have a conversation with your CPA about cost segregation before you close. The accelerated depreciation on a qualifying short-term rental can dramatically change what that property is actually worth to you on paper. Most buyers never ask. The ones who do keep buying.
And if you're looking for off-market options — we just dropped 9 new deals on OffMarket.deals over the past few days. STR in the Smokies, subject-to deals, active rentals, BRRRRs, flips — everything someone serious about investing could be looking for.
Our most recent zip codes: 40220, 40243, 40211, 40223, 40215, 40219, 40214, 47150 (5 unit in New Albany), and 37862 (STR in the Smokies).
If you too would enjoy this kind of great exposure for your properties or to rapidly grow your portfolio. Schedule a time to chat, we’ve got some tried and true strategies.
Warmly,
Rob Bergeron
Owner–Realtor at Award-Winning Winner Realty
Winner Realty | OffMarket.deals | Property Partner Data Company | HireMySub.com
The Morning Bergeron daily track playlist: https://music.apple.com/us/playlist/the-morning-bergeron/pl.u-pMyl2GlSW1N3qv
PS: I'll be at the Investing in Red River Gorge meetup tonight — hope to see you there. We've got 10 tiny homes and 10 glamping units going up in the cliffs, among other things. Very excited about what's happening at RRG. Come learn more and be a part of it. Grab your spot here →