Turnkey Airbnb Investment
611 Finzer Street Louisville, KY 40203
611 Finzer Street, Louisville, KY, 40203
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For Sale
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Fully furnished short-term rental property with strong income potential.
Property Size1,387 SF
Price / SF$180.25
Days on Market66
Property Features for 611 Finzer Street
General Information
- Standard status
- Active
- Size
- 1,387 SF
- Property subtype
- Hospitality
Building Details
- Year Built
- 1900
Listing Agency
eXp Realty
Listed by
Jonathan Klunk · License #KY251476
Source
Crexi
Added: May 15 Checked: Jul 16 at 7:43 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty
Investment Insights
Based on property information with market context.
This property presents an Airbnb investment opportunity in Louisville. The property, located at 611 Finzer St, is zoned OR2 and grandfathered for short-term rental use. Configured as a 2-bedroom with a 3rd room currently used as a bedroom (non-conforming), it functions as a 3-bedroom opportunity. AirDNA projects approximately $47,300 per year in gross revenue at approximately 60% occupancy and a $215 ADR, producing an estimated NOI of approximately $27,030 and a 10.8% cap rate. The home is projected to average approximately 73 bookings per year with approximately 3-night stays. It is being sold fully furnished. Estimated operating expenses total approximately $20,270 per year, including taxes, insurance, utilities, landscaping, maintenance reserves, and cleaning. With an estimated DSCR of approximately 1.7 (based on 75% LTV, 7.5% rate, 30-year am), this is a financeable asset with cash flow potential. This 1,387 square foot property is suited for investors seeking an income-producing Airbnb, furnished rental, or hybrid personal-use property.
Key Highlights
- Turnkey Airbnb investment opportunity with strong projected returns and no CUP required.
- Grandfathered OR2 zoning allows legal short‑term rental operation without needing a Conditional Use Permit.
- Projected gross annual revenue of ~$47,300 with an estimated NOI of ~$27,030, and a 10.8% cap rate.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.1k | $13.08 |
| − Vacancy | −$980 | −$0.71 |
| EGI | $17.2k | $12.37 |
| − OpEx | −$7.7k | −$5.57 |
| NOI | $9.4k | $6.81 |
1,387 SF · lease $13.08/SF/yr · vacancy 5.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$134.8K
$118.0K – $157.3K
NOI $9,439 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$359.5K
$314.6K – $419.4K
NOI $25,166 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Short term rental property - Fully furnished short-term rental property with strong income potential.
Where is this short term rental property located?
The property is located at 611 Finzer Street Louisville, KY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Turnkey Airbnb investment opportunity with strong projected returns and no CUP required.; Grandfathered OR2 zoning allows legal short‑term rental operation without needing a Conditional Use Permit.; Projected gross annual revenue of ~$47,300 with an estimated NOI of ~$27,030, and a 10.8% cap rate.
