Duplex with Privacy-Fenced Back
For Sale
$195,000
1108 Queen Ave, Louisville, KY 40215
MULTI_FAMILY - Other - Louisville, KY
Property Size1,710 SF
Lot Size0.10 Acres
Price / SF$114.04
Days on Market216
Property Features for 1108 Queen Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1, Dining Room
Patio and Porch features
Deck, Porch
Directions
Central Ave to left on Taylor Blvd, left on Queen Ave
Subdivision
01-Dtwn Old Louisville/Shively/West Lou
Standard status
Active
APN
11051D01570000
Size
1,710 SF
Lot size
0.10 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
privacy fenced back yard
covered front porch
covered back patio
modern kitchens
updated bathrooms
open floor plan
Building Details
Year built
1907
Number of units
2
Building materials
Vinyl Siding, Wood Frame, Aluminum Siding
Roof type
Shingle, Asphalt
Architectural style
Other
Additional Structures
Outbuilding
Listing Agency:
RE/MAX Premier Properties · RE/MAX International
(502) 384-5944
Listed By:
Jay Pitts · License #63303
(502) 384-5944
Added: Jan 5
Changed: Aug 3
Last Checked: Aug 9 at 7:06PM
MLS# 1706234
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 duplex offers two 1-bedroom, 1-bath units, each with its own separate meter and separate HVAC system. The layout includes a covered front porch at Unit A, and both units feature covered back patios that extend toward most of the back yard. The back yard is privacy fenced, and the property provides off-street parking. Furnishings are negotiable, supporting a turnkey setup for guests immediately after purchase.
The duplex was built in 1907 and sits on a 0.1-acre lot totaling 1,710 square feet. Exterior materials include vinyl siding, wood frame construction, and aluminum siding. Heating is forced air with natural gas, and the property has central air cooling. The roof is asphalt shingle, and utilities include public water and public sewer.
Recent improvements include an AC replacement in April 20025 and a water heater replacement in 2023.
The duplex was built in 1907 and sits on a 0.1-acre lot totaling 1,710 square feet. Exterior materials include vinyl siding, wood frame construction, and aluminum siding. Heating is forced air with natural gas, and the property has central air cooling. The roof is asphalt shingle, and utilities include public water and public sewer.
Recent improvements include an AC replacement in April 20025 and a water heater replacement in 2023.
Key Highlights
- Two separate 1‑bedroom, 1‑bath units with separate meters and separate HVAC
- Privacy‑fenced back yard with covered back patios and off‑street parking
- Covered front porch at Unit A plus covered patio space extending toward the back yard
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
$14,388
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
7.38%
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%
$287,760
$287.8K
Cap Rate 7%
$205,543
$205.5K
Cap Rate 9%
$159,867
$159.9K
Market Conditions
NOI Build-Up for 1,710 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
$21.8K $12.72/SF
− Vacancy
−$1.2K −$0.70/SF
EGI
$20.6K $12.02/SF
− OpEx
−$6.2K −$3.61/SF
NOI
$14.4K $8.41/SF
Area
Louisville, KY
Vacancy
5.50%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
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%
$287,760
Cap Rate 7%
$205,543
Cap Rate 9%
$159,867
Alternative Uses
Best Use
Multifamily LT 5
$205.5K
$179.9K – $239.8K
NOI $14,388 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$166.2K
$145.5K – $194.0K
NOI $11,637 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$443.2K
$387.8K – $517.1K
NOI $31,026 @ 7.0% cap · market cap 15.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 40215, KY
21,230
Population
9,070
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
79%
High-School Grad
3.5 sq mi
ZIP Area
6,066
Density / Sq Mi
$42,762
Median Household Income
$32,815
Median Earnings
$976
Median Rent
$106,500
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 1-bedroom units with separate meters and separate HVAC, plus covered patios and off-street parking.
Where is this duplex located?
The property is located at 1108 Queen Ave Louisville, KY.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two separate 1‑bedroom, 1‑bath units with separate meters and separate HVAC; Privacy‑fenced back yard with covered back patios and off‑street parking; Covered front porch at Unit A plus covered patio space extending toward the back yard
