Best of the MLS 2-8-19
News Summary - Two case studies show that in 2018 one Newburg property in very good condition appreciated 27% while Richlawn in St. Matthews had a more modest 6%. I'll test more sales and put together a graph in the next post.
Case Study #1- Newburg Flip & Appreciation-
1523 Aletha Dr., 40219 >purchased for $39,100 in the winter of 2017 >sold after 1 day on the market for $98,500 after being remodeled in late summer 2017. >sold again just less than a year and a half later for $135,000. The only improvement since the remodel was a cheap carport which would only add a few thousand to the property value. This case indicates Newburg prices shot up 34% in 16 months for an annual appreciation rate of 27.2%. Note: I took $3k off the most recent sale price to account for the carport. Case Study #2- St. Matthews Appreciation-
208 Don Allen Rd, 40207 >accepted contract in Dec. 2017 for $321,500. >Owner added a bathroom in the basement (shower insert) >sold in Dec. 2018 for $345,900 Above grade bathrooms can add $8k to $12k in value but a bathroom basement in this market doesn't have that impact. The new bathroom probably adds about $6,000 to the price. Subtracting $6k from the resale price to account for the new bathroom indicates an appreciation rate of 5.7% for 2018. BK's MLS Categories 1 New Multi-family
5 New HUD & Similar Pre-Comped Deal
1) 3214 Marion Ct, Louisville, KY 40206 - This Crescent Hill 2 bedroom house has a very appealing floor plan. List price is $195,000. Comps range from mid $200's up to $400k depending on the quality of the finish. This is an estate and needs court approval. - Listing & Comps - Note: these are not my listings!