Shelby Park

[Justin H.]

Any Louisville investors investing in Shelby Park?  It's an area I'm starting to research and just wondering if anyone has experience investing there?  If so, what type of properties are you investing in and are you doing buy and hold, flip and hold, flips?  What kinds of tenants are you able to attract?  Any particular streets/areas you like or areas you try to avoid?

Anecdotally, it seems like an area that is at the beginning of an upward trend and with its location close to the "city center", walkability/bikability, Olmsted park, historic character, and lots of new businesses popping up.  It's close to Germantown, but the properties are a lot cheaper than Germantown right now and it hasn't experienced the investment that Germantown has yet.  Seems like it may be a good opportunity right now with purchase prices that result in a base case with good cash flow where the numbers work even if the area never enjoys significant appreciation, along with potential for upside with above-inflation appreciation.

[Clay Smith]

I know Brent K. Invests there.  The Sojourn Church does also. Personally, I would not buy there. 

If you look at Zillow or city-data.com you will see he area as a whole does not match appreciation for the city average. Also, the rent to owner ratio is not favorable for owner occupants. The violent crime rate is terrible.

If your price point is for properties in the 30k- 80k range outside the west end, you could do better.