Fully Renovated Duplex with Private
For Sale
$230,000
13020 E Orell Rd, Louisville, KY 40272
MULTI_FAMILY - Louisville, KY
Property Size1,865 SF
Lot Size0.45 Acres
Price / SF$123.32
Days on Market10
Property Features for 13020 E Orell Rd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 3, Bathroom 2, Bedroom 2, Basement
Patio and Porch features
Porch
Directions
I-264 W to Dixie Highway, head south for about 7 miles, then turn right onto Orell Road and follow it to E Orell Road; the home is located on the left.
Subdivision
05-Auburndale/Fairdale/IroquoisPrk/Shively
Standard status
Active
APN
24105904280000
Size
1,865 SF
Lot size
0.45 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1968
Number of units
2
Building materials
Vinyl Siding, Wood Frame, Brick Veneer
Roof type
Shingle
Listing Agency:
United Real Estate Louisville
(502) 509-4498
Listed By:
Kelcie Hornback
(502) 509-4498
Added: Jul 28
Changed: Aug 3
Last Checked: Aug 6 at 4:06PM
MLS# 1724613
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 fully renovated duplex is designed for independent multi-unit living with each level operating separately. The property includes 862 sq ft above grade and 805 sq ft of updated finished space below grade, providing flexible layout options as a duplex, or as a private mother-in-law or guest suite setup. Each level has its own private entrance and separate meters, supported by separate new HVAC and furnace systems, along with individual new water heaters.
Interior updates include brand-new flooring and carpet, fresh paint, and new kitchen cabinetry, countertops, and appliances. Construction features include vinyl siding, wood frame elements, and brick veneer, with a shingle roof and central air conditioning. Utilities are public, with public water and public sewer service.
Set on 0.45 acres and built in 1968, the home is served by forced-air heating with natural gas. A porch is included, and the location is convenient to shopping, dining, and major roadways.
Interior updates include brand-new flooring and carpet, fresh paint, and new kitchen cabinetry, countertops, and appliances. Construction features include vinyl siding, wood frame elements, and brick veneer, with a shingle roof and central air conditioning. Utilities are public, with public water and public sewer service.
Set on 0.45 acres and built in 1968, the home is served by forced-air heating with natural gas. A porch is included, and the location is convenient to shopping, dining, and major roadways.
Key Highlights
- 862 sq ft above grade and 805 sq ft finished below grade
- Separate meters, separate new HVAC and furnace systems, and individual new water heaters
- Private entrances for each level
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
$15,693
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
6.82%
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%
$313,860
$313.9K
Cap Rate 7%
$224,186
$224.2K
Cap Rate 9%
$174,367
$174.4K
Market Conditions
NOI Build-Up for 1,865 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
$23.7K $12.72/SF
− Vacancy
−$1.3K −$0.70/SF
EGI
$22.4K $12.02/SF
− OpEx
−$6.7K −$3.61/SF
NOI
$15.7K $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%
$313,860
Cap Rate 7%
$224,186
Cap Rate 9%
$174,367
Alternative Uses
Best Use
Multifamily LT 5
$224.2K
$196.2K – $261.6K
NOI $15,693 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$181.3K
$158.7K – $211.5K
NOI $12,692 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$483.4K
$423.0K – $564.0K
NOI $33,839 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
Explore this area
Business Placement
Demographics for 40272, KY
37,747
Population
15,469
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
90%
High-School Grad
33.3 sq mi
ZIP Area
1,134
Density / Sq Mi
$66,382
Median Household Income
$37,644
Median Earnings
$1,147
Median Rent
$169,700
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 - Renovated duplex set up for independent living with separate meters, new HVAC and furnace systems, and private entrances.
Where is this duplex located?
The property is located at 13020 E Orell Rd Louisville, KY.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 862 sq ft above grade and 805 sq ft finished below grade; Separate meters, separate new HVAC and furnace systems, and individual new water heaters; Private entrances for each level
