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    2468 Grinstead Dr Louisville, KY 40204

    View on Map
    Sponsored
    For Sale
    $525,000

    MULTI_FAMILY - Louisville, KY

    Property size:
    2,771 SF
    Days on Market:
    1
    Last Refresh:
    Mar 21 at 10:07 am

    Property Features for 2468 Grinstead Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 4, Dining Room, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 5, Basement
    Bedrooms
    5
    Bathrooms
    4
    APN
    10075H00700000
    Patio and Porch features
    Porch, Patio
    Size
    2,771 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Heat Pump (Heating), Electric (Heating), Natural Gas
    Cooling system
    Central Air, Heat Pump
    Water source
    Public

    Building Details

    Year built
    1925
    Number of units
    2
    Building materials
    Stone Veneer
    Roof type
    Shingle

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    Listing Contact
    Barbara E Jones

    United Real Estate Louisville

    Listing agent Barbara E Jones

    Listing date Mar 21, 2026

    MLS# 1711628

    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.

    Learn more

    Overview

    Renovated Duplex in Cherokee Triangle

    This renovated duplex is located in the Cherokee Triangle rental market. Unit One features a large eat-in kitchen with laundry facilities, a family room, a fireplace, and a dining area. French doors open to an all-season sunroom, currently configured as an office. The unit includes a primary suite with a primary bathroom, an additional bedroom, and a full hall bath. Unit Two, situated on the second floor, offers a bright, open-concept living room, dining room, and eat-in kitchen. It includes a bedroom with an ensuite bathroom, two additional bedrooms, and a full hall bath. Unit One is zoned multifamily. Unit Two is zoned multifamily with a conditional use permit for short-term rental. The property includes multiple parking spaces and a garden with perennial flowers. Each unit has two access doors. The property, located on a corner lot in the Cherokee Triangle district, features new plumbing and electrical systems throughout the house. The downstairs AC unit is less than 2 years old, and the house was insulated during renovations. The units are separately metered for electrical and gas billing, and the upstairs and downstairs HVAC systems are separate. The property size is 2771 square feet.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.708433
    Latitude
    38.242985

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    FAQs

    What type of property is this?
    Duplex - Completely renovated duplex in Cherokee Triangle rental market.
    Where is this duplex located?
    The property is located at 2468 Grinstead Dr Louisville, KY.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: - Completely renovated duplex in the desirable Cherokee Triangle rental market.; - Unit Two has a conditional use permit for short-term rental.; - New plumbing and electrical systems throughout the entire house.
    (502) 270-5000
    Request Owner's contact information
    2468 Grinstead Dr Louisville, KY 40204
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    Louisville, KY 40204
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2468 Grinstead Dr Louisville, KY 40204
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    Listing Contact
    Barbara E Jones
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