Paired Duplex
For Sale
$175,000
1031-1033 Euclid Ave, Louisville, KY 40208
Multi Family, Louisville, KY
Property Size2,048 SF
Price / SF$85.45
Days on Market11
Property Features for 1031-1033 Euclid Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 2
Patio and Porch features
Porch
Subdivision
UNION LAND CO
Lot features
Corner Lot
Directions
From I-264, take Exit 10 for 3rd St/Southern Pkwy. Head north on Southern Pkwy, continue onto 3rd St, then turn left onto Euclid Ave. Property is at 1031 Euclid Ave.
Standard status
Active
APN
11063C00320000
Size
2,048 SF
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1915
Number of units
2
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Collective · Keller Williams Realty
(502) 554-9500
Listed By:
Leah Plush-Ches
(502) 492-3370
Added: Aug 17
Changed: Aug 19
Last Checked: Aug 27 at 6:06AM
MLS# 1726510
Copyright © 2026 Greater Louisville Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering combines two neighboring duplex buildings at 1031 and 1033 Euclid Avenue in Louisville. The property record identifies 2,048 square feet, vinyl siding, asphalt roofing, porch features, and natural-gas forced-air heating. The buildings date to 1915 and include bedrooms and bathrooms within the existing residential layout.
Public water and public sewer serve the property. The buildings are tenant-occupied, and showings require additional notice and advance coordination through the listing agent. No sign is posted at the property.
Public water and public sewer serve the property. The buildings are tenant-occupied, and showings require additional notice and advance coordination through the listing agent. No sign is posted at the property.
Key Highlights
- Two neighboring duplex properties offered together at 1031 and 1033 Euclid Avenue
- 2,048 square feet of property size
- Built in 1915
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,938
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$278,760
$278.8K
Cap Rate 7%
$199,114
$199.1K
Cap Rate 9%
$154,867
$154.9K
Market Conditions
NOI Build-Up for 2,048 SF
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.
Gross rent
$26.8K $13.08/SF
− Vacancy
−$1.4K −$0.71/SF
EGI
$25.3K $12.37/SF
− OpEx
−$11.4K −$5.57/SF
NOI
$13.9K $6.81/SF
Area
Louisville, KY
Vacancy
5.40%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$278,760
Cap Rate 7%
$199,114
Cap Rate 9%
$154,867
Alternative Uses
Best Use
Multifamily LT 5
$246.2K
$215.4K – $287.2K
NOI $17,232 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$199.1K
$174.2K – $232.3K
NOI $13,938 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$530.8K
$464.5K – $619.3K
NOI $37,159 @ 7.0% cap · market cap 21.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
Explore this area
Business Placement
Demographics for 40208, KY
17,048
Population
6,675
Households
2.6
Avg Household Size
27
Median Age
34%
College-Educated
88%
High-School Grad
2.6 sq mi
ZIP Area
6,557
Density / Sq Mi
$37,714
Median Household Income
$17,255
Median Earnings
$914
Median Rent
$153,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two neighboring duplex buildings feature porch areas, vinyl siding, natural-gas forced-air heating, and public water and sewer.
Where is this duplex located?
The property is located at 1031-1033 Euclid Ave Louisville, KY.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two neighboring duplex properties offered together at 1031 and 1033 Euclid Avenue; 2,048 square feet of property size; Built in 1915
