108 Algiers Ct APT 3LouisvilleKY40218
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 108 Algiers Ct APT 3, Louisville, KY, 40218 in Louisville: $974/mo in rent, $207/mo in net income, 9.28% gross yield, 1.72 DSCR, all at $126,000. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $34,811 in appreciation and $1,160/yr in principal paydown projects total cumulative return of $61,031.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 6.2% |
| Monthly Cash Flow | $207 | $450 |
City averages based on Louisville market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $974 |
| Total Monthly Debt Service | $717 |
| DSCR Ratio | 1.36x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1979
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 40218, Louisville, KY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,478 (100%) |
| Owner Occupied HU | 6,879 (47.5%) |
| Renter Occupied HU | 6,360 (43.9%) |
| Vacant Housing Units | 1,239 ( 8.6%) |
| Median Home Value | $209,730 |
| Average Home Value | $235,809 |
Housing Distribution
Address Breakdown
Residential
14,077
Single Family
10,571
Multi-Family
3,506
Businesses
1,315
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Condo
Built in 1979
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 40218, Louisville, KY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,478 (100%) |
| Owner Occupied HU | 6,879 (47.5%) |
| Renter Occupied HU | 6,360 (43.9%) |
| Vacant Housing Units | 1,239 ( 8.6%) |
| Median Home Value | $209,730 |
| Average Home Value | $235,809 |
Housing Distribution
Address Breakdown
Residential
14,077
Single Family
10,571
Multi-Family
3,506
Businesses
1,315
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Lori Reese • Summerfield Realty LLC
Mls Name: GLARMLS
Mls ID: #1702782