1405 Morton, Louisville, KY 40204 | MLS® #1471969
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MLS#: 1471969

1405 Morton

Louisville, KY 40204

$329,500

4Beds
2Baths
2,096Sqft
1900Year Built
228DOM

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.

Streetview Map of 1405 Morton, Louisville KY

Essential Information

  • MLS® #1471969
  • Price$329,500
  • Bedrooms4
  • Bathrooms2.00
  • Full Baths2
  • Square Footage2,096
  • Year Built1900
  • TypeMultifamily
  • Sub-TypeDuplex
  • StatusActive

Community Information

Amenities

Utilities

City Sewer, City Water, Electric, Fuel:Natural

Exterior

  • Exterior FeaturesBalcony, Porch
  • Lot DescriptionSidewalk
  • RoofAsphalt Shingle
  • ConstructionFrame/Wood

Listing Details

  • OfficeDavid Day Real Estate

Detailed Map of 1405 Morton, Louisville KY

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Price Change History for 1405 Morton, Louisville, KY (MLS® #1471969)

Date Details Change
Price Reduced from $349,500 to $329,500 $20,000 (5.72%)
Price Reduced from $359,405 to $349,500 $9,905 (2.76%)
Price Reduced from $379,000 to $359,405 $19,595 (5.17%)
Price Reduced from $395,000 to $379,000 $16,000 (4.05%)

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More about 1405 Morton

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Listing information last updated on November 20th, 2017 at 6:30am EST.