Downsizing Options: Condo Review – Wynfield Town Homes Louisville KY

 

Wynfield Town Homes

Location: This upscale, small, town home community is tucked away off Brownsboro Road just down the street from the Crescent Hill Park Golf Course. Follow Brownsboro Road to Belvar Avenue and then turn right on Madelle Avenue.

 

General Description: This is one of the prettiest town home communities in Louisville. The homes are situated along a private winding road, which forms a loop. There are many trees and the landscaping is lush. The entire complex encompasses about 4 acres. This beautiful brick complex was built in the mid 1990’s and consists of approximately 18 individual units. Based upon my examination of all prior listings, it appears that the above ground living space ranges from about 3,400 to 4,200 square feet. The floor plans are mostly open, to ensure an easy flow from room to room. This is a pet friendly community, which only allows common domestic dogs and cats. No exotic pets are allowed. All common domestic dogs and cats must be kept in accordance with the leash and other ordinances of the City of Louisville.  Owners may lease their units, provided the lease term exceeds 30 days, but does not exceed one year. All leases must be in writing and are subject to all of the association’s documents (i.e., Declaration of Rights & Restrictions, Bylaws, etc.) and approval of the Board. In addition, there are other stipulations enumerated on page 14 of the Declaration. (Contact the property manager, Cornerstone Property Management, for this information.)

 

Common Area Features: None, due to the diminutive size of the development.

 

Condominium Unit Features: The ground floor includes a first floor master bedroom suite, a family room, great room, eat-in kitchen, a formal dining room or a dining area, a foyer, a half bath and a laundry room. The second floor typically includes two spacious bedrooms, an office and one or more full baths. Every unit also has a basement and an attached 2 or 3 car garage. Some of the features offered by these very beautiful and well landscaped town homes include two fireplaces, 9’+ ceiling heights, intricate millwork, built-in shelving, walk-in closets, spacious living rooms, formal dining rooms, and expansive gourmet kitchens. There are also private courtyards in the rear.

 

Neighborhood Characteristics: This is an excellent location that is convenient to a variety of shops, a public golf course with tennis courts, downtown Louisville, the VA hospital and the fabulous restaurants along Frankfort Avenue. It also offers easy access to two expressways pointed in every direction. This is a relatively safe area with a number of very upscale single family home communities nearby.

 

Management Company: This complex is managed by Cornerstone Property Management LLC. 502.384.9012.

 

Recent Sales and Maintenance Fees: During 2013, one unit was sold for $660,000 ($145.18/sf), which included three bedrooms, 3.5 baths, an attached 3-car garage and an unfinished walkout basement. During 2014, two units were sold. One had a contract price of $575k ($158/sf) and offered 3 bedrooms, 3.5 baths, a 2-car garage and a standard basement with 1150 sq ft of finished space. The second unit, which sold for $625k ($168/sf), had 3 bedrooms, 2 full and 2 half baths, a 2-car garage and a walkout basement with 1549 sq ft of finished space.  During 2015, one 3 bedroom unit was sold for $615k or $165/sf. It had four full and one half baths and a 2-car garage. Its standard basement had 1290 sq ft of finished space. During 2016 (through December 8,) one three bedroom unit was sold for $699k or $191/sf. It had 2.5 baths, a 2-car garage and 1200 sq ft of finished space in its standard basement. (Note: cost per sq ft includes only the above ground space.)

The maintenance fees are paid quarterly and are currently about $1,200 per quarter. 

Suitability for Downsizers: Assuming you need the space and find the price affordable, this pretty town house development should be on your list.  Here is a link to a prior post that discusses important issues that should be considered before making an offer on any condominium. It is based upon my 15+ years of experience as a Realtor and my 20+ years as an owner and periodic board member at Hurstbourne Ridge Condominiums. This is an area that is generally considered to be safe.