2-Unit Duplex with Separate
For Sale
$199,900
Pending
214 W Collins Ct, Louisville, KY 40214
Each residence includes laundry hookups, walk-in closets, and its own furnace and central air unit.
Property Size1,920 SF
Days on Market25
Property Features for 214 W Collins Ct
General Information
Standard status
Pending
Size
1,920 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
laundry hookups
front deck
rear decks
walk-in closets
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Realty Advanced
Listed By:
Kyle Elmore · License #262211
(502) 389-9920
Source:
Whitepicketky
Added: Sep 24
Changed: Oct 16
Last Checked: Oct 16 at 9:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty Advanced
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Investment Insights
Based on property information with market context.
This 1,920-square-foot duplex, built in 1900, contains two 1-bedroom, 1-bathroom residences of approximately 960 square feet each. Both have laundry hookups and walk-in closets. Each unit is served by a separate electric panel, furnace, and central air unit. Gas and electric are separately metered; water is on one meter, with the cost divided evenly and billed to tenants. The roof is approximately 3 years old.
Outdoor features include a large front deck, two smaller rear decks, and a sizable rear yard. The property is near the University of Louisville, Churchill Downs, and expressways. City trash collection is provided.
Outdoor features include a large front deck, two smaller rear decks, and a sizable rear yard. The property is near the University of Louisville, Churchill Downs, and expressways. City trash collection is provided.
Key Highlights
- Two 1‑bedroom, 1‑bathroom units, each approximately 960 square feet
- Separate electric panels, furnaces, central air units, and gas and electric meters for each unit
- Water is on a shared meter; costs are divided evenly and billed to tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,813
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,260
$336.3K
Cap Rate 7%
$240,186
$240.2K
Cap Rate 9%
$186,811
$186.8K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$33.4K $17.40/SF
− Vacancy
−$2.8K −$1.48/SF
EGI
$30.6K $15.92/SF
− OpEx
−$13.8K −$7.16/SF
NOI
$16.8K $8.76/SF
Area
ZIP 40214
Vacancy
8.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,260
Cap Rate 7%
$240,186
Cap Rate 9%
$186,811
Alternative Uses
Best Use
Multifamily LT 5
$264.8K
$231.7K – $308.9K
NOI $18,533 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$240.2K
$210.2K – $280.2K
NOI $16,813 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$460.1K
$402.6K – $536.7K
NOI $32,204 @ 7.0% cap · market cap 16.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 40214, KY
46,220
Population
20,459
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
85%
High-School Grad
15.0 sq mi
ZIP Area
3,081
Density / Sq Mi
$53,563
Median Household Income
$37,121
Median Earnings
$950
Median Rent
$176,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes laundry hookups, walk-in closets, and its own furnace and central air unit.
Where is this duplex located?
The property is located at 214 W Collins Ct Louisville, KY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bathroom units, each approximately 960 square feet; Separate electric panels, furnaces, central air units, and gas and electric meters for each unit; Water is on a shared meter; costs are divided evenly and billed to tenants
