6603 Melrose AveLouisvilleKY40216
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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
Investment Highlights
Rental property for sale in Louisville at 6603 Melrose Ave, Louisville, KY, 40216 generates $1,615/mo in rent and, after a $1,003/mo payment, leaves $368/mo in cash flow. Total monthly income is $1,615/mo, and annual cash flow is $4,413/yr on $67,958 invested. Return on cash invested sits at 26.4% in year one, and rental yield is 9.45% on a $205,000 entry. Equity gained on principal adds $1,323/yr, while 5% annual appreciation builds toward $56,638 over five years. Five-year ROI reaches 137.55% and total cumulative return in cash sums $93,474. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,615/mo property income rather than buyer’s personal income.
Single Family
Built in 1954
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 40216, Louisville, KY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,542 (100%) |
| Owner Occupied HU | 10,986 (59.2%) |
| Renter Occupied HU | 6,272 (33.8%) |
| Vacant Housing Units | 1,284 ( 6.9%) |
| Median Home Value | $180,204 |
| Average Home Value | $262,204 |
Housing Distribution
Address Breakdown
Residential
18,869
Single Family
16,977
Multi-Family
1,892
Businesses
930
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Listed by: Jersenia Patterson • RE/MAX Premier Properties
Mls Name: GLARMLS
Mls ID: #1698956