585 Grand View Dr #13 · Taylorsville, KY 40071

$154,999

2 bd · 2.0 ba · 991 sqft · Condo · 161 Days on market

Built 2005 $156/sqft · 45% below area Est $280k · 45% under $33/mo HOA · 2% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +7.4/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey fully furnished 2 bedroom /2 bath short-term rental opportunity at Edgewater Resort- Taylorsville Lake, Taylorsville, KY. This property was built exclusively for short-term stays and includes up to 59 owner /personal days per year. Resort-style amenities include a pool, fire pits, playground, and quick marina access on Taylorsville Lake. Deck-side lake views and a prime location along Kentucky's Bourbon Trail position this cottage to benefit from consistent tourism demand and long-term investor appeal. Come tour Cottage 13 - Secretariat and Edgewater Resort just minutes outside of Louisville, KY!

Key facts

• Quick marina access
• Deck-side lake views
• Prime location

Tags

• SHORT-TERM RENTAL OPPORTUNITY
• RESORT-STYLE AMENITIES
• QUICK MARINA ACCESS
• DECK-SIDE LAKE VIEWS
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.0% in Taylorsville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#149 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Spencer County (rural): math 41% / reading 46% proficiency, ranked #18 of 165 in KY (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 114 active listings in the ZIP; 126 units permitted in Spencer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Spencer County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $155k implies a 244% gain — meaningful room to come down on a strong offer.

Recommended offer $136,399 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.44%
• DSCR: 1.51
• GRM: 6.7

CMA / ARV

• ARV (median comp): $280,000
• List price: $154,999
• Delta: -44.64%
• Verdict: UNDERPRICED
• Comps: 19 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,277
• Equity at exit: $23,111

10-year hold

• IRR: 10.4%
• Equity multiple: 1.81×
• Total profit: $35,235
• Equity at exit: $13,401

Cash invested: $43,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kentucky: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit (URLTA cities); generally landlord-friendly.

Methodology + full state rankings →

ZIP-level market 40071

• Home prices YoY: -13.4%
• Active inventory: 114
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,921 medium
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$33
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $414

Break-even live

Break-even rent $1,398

Max offer price $154,999

Occupancy floor 73%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $33 · $396/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $154,999 Active 161 DOM
2. 2026-06-17
   days on market $154,999 Active 160 DOM
3. 2026-06-16
   days on market $154,999 Active 159 DOM
4. 2026-06-15
   days on market $154,999 Active 158 DOM
5. 2026-06-13
   days on market $154,999 Active 156 DOM
6. 2026-06-10
   days on market $154,999 Active 153 DOM
7. 2026-06-09
   days on market $154,999 Active 152 DOM
8. 2026-06-08
   days on market $154,999 Active 151 DOM
9. 2026-06-07
   days on market $154,999 Active 150 DOM
10. 2026-06-03
    days on market $154,999 Active 146 DOM
11. 2026-06-02
    days on market $154,999 Active 145 DOM
12. 2026-06-01
    days on market $154,999 Active 144 DOM
13. 2026-05-31
    days on market $154,999 Active 143 DOM
14. 2026-02-19
    price $160,000 613-char remark

    Show marketing remark (613 chars)

    Turnkey fully furnished 2 bedroom /2 bath short-term rental opportunity at Edgewater Resort- Taylorsville Lake, Taylorsville, KY. This property was built exclusively for short-term stays and includes up to 59 owner /personal days per year. Resort-style amenities include a pool, fire pits, playground, and quick marina access on Taylorsville Lake. Deck-side lake views and a prime location along Kentucky's Bourbon Trail position this cottage to benefit from consistent tourism demand and long-term investor appeal. Come tour Cottage 13 - Secretariat and Edgewater Resort just minutes outside of Louisville, KY!

15. 2026-01-08
    listed $165,000 Active 613-char remark

    Show marketing remark (613 chars)

    Turnkey fully furnished 2 bedroom /2 bath short-term rental opportunity at Edgewater Resort- Taylorsville Lake, Taylorsville, KY. This property was built exclusively for short-term stays and includes up to 59 owner /personal days per year. Resort-style amenities include a pool, fire pits, playground, and quick marina access on Taylorsville Lake. Deck-side lake views and a prime location along Kentucky's Bourbon Trail position this cottage to benefit from consistent tourism demand and long-term investor appeal. Come tour Cottage 13 - Secretariat and Edgewater Resort just minutes outside of Louisville, KY!

16. 2018-06-05
    soldstatus $45,000 Closed 620-char remark

    Show marketing remark (620 chars)

    Fantastic view of Taylorsville Lake and Marina from cottage #13. Edgewater Resort is a gated community. Great investment opportunity on this turn key cottage. Home features a vaulted Great Room with gas fireplace and open to large eat-in kitchen with all appliances staying with home. Off of kitchen is a deck with a hot tub that overlooks the lake. 2 large bedrooms, 2 full baths and laundry with stackable washer/dryer make this home a great place to get away from the City. Edgewater Resort offers a pool & playground. Monthly rental fee of $200 or $300 covers trash, lawn care, etc. Don't miss this opportunity!

17. 2018-05-22
    status Pending 620-char remark

    Show marketing remark (620 chars)

    Fantastic view of Taylorsville Lake and Marina from cottage #13. Edgewater Resort is a gated community. Great investment opportunity on this turn key cottage. Home features a vaulted Great Room with gas fireplace and open to large eat-in kitchen with all appliances staying with home. Off of kitchen is a deck with a hot tub that overlooks the lake. 2 large bedrooms, 2 full baths and laundry with stackable washer/dryer make this home a great place to get away from the City. Edgewater Resort offers a pool & playground. Monthly rental fee of $200 or $300 covers trash, lawn care, etc. Don't miss this opportunity!

18. 2018-04-08
    listed $52,900 Active 620-char remark

    Show marketing remark (620 chars)

    Fantastic view of Taylorsville Lake and Marina from cottage #13. Edgewater Resort is a gated community. Great investment opportunity on this turn key cottage. Home features a vaulted Great Room with gas fireplace and open to large eat-in kitchen with all appliances staying with home. Off of kitchen is a deck with a hot tub that overlooks the lake. 2 large bedrooms, 2 full baths and laundry with stackable washer/dryer make this home a great place to get away from the City. Edgewater Resort offers a pool & playground. Monthly rental fee of $200 or $300 covers trash, lawn care, etc. Don't miss this opportunity!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $23,055
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − HOA: −$396
• − Depreciation: −$4,509
• Taxable income: $2,679
• Est. tax owed @ 24.0%: −$643
• After-tax cash flow: $4,321/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Spencer County
• NCES district ID: 2105490
• Math proficiency: 41% ▼ -14.00%
• Reading proficiency: 46% ▼ -19.00%
• Median HH income: $64,167
• Composite: 38.74/100
• National rank: #4125
• State rank: #18 of 165 in KY

Livability — Taylorsville

• Score: 71/100
• State rank: #149
• US rank: #7189

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment F Housing A+ Health & safety B User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 16,702

Population outlook (Spencer County) Hauer SSP2

• Today (2025): 20,077 people
• By 2030: 21,008 · +4.6%
• By 2040: 22,560 · +12.4%
• By 2050: 23,480 · +16.9%
• By 2075: 25,222 · +25.6%
• By 2100: 25,550 · +27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Italian 4% Slovak 2% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Spencer

• 2024 margin: Solid R (+56.7) · D 21.0% · R 77.8% · Other 1.2%
• 2008→2024 swing: -21.2pp toward R · 2008: -35.5pp · 2024: -56.7pp
• All cycles: 2024: R+56.7 2020: R+54.3 2016: R+55.5 2012: R+37.7 2008: R+35.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.62%
• Current HPI: 274.9283
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.81%
• F500 in state: 4

Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B

Price history

+202.5% since first listed

5 events — show timeline

• 2026-02-19 Price Changed $160,000 Metro Search MLS
• 2026-01-08 Listed $165,000 Metro Search MLS
• 2018-06-05 Sold (MLS) $45,000 Metro Search MLS
• 2018-05-22 Pending — Metro Search MLS
• 2018-04-08 Listed $52,900 Metro Search MLS