Shotgun Duplex with Separate
For Sale
$180,000
2711 Rodman St, Louisville, KY 40208
MULTI_FAMILY - Shotgun - Louisville, KY
Property Size1,363 SF
Lot Size0.07 Acres
Price / SF$132.06
Days on Market10
Property Features for 2711 Rodman St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 3
Patio and Porch features
Patio, Porch
Subdivision
HOBLITZELLS SOU LOU ADD
Lot features
Sidewalk
Directions
Head south on Taylor Blvd, then turn left onto Rodman St. Property will be on the left.
Standard status
Active
APN
11050E01380000
Size
1,363 SF
Lot size
0.07 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1905
Number of units
2
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Architectural style
Shotgun
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# 1724610
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 shotgun-style duplex offers two separately metered living spaces designed for privacy and operational separation. Each unit has its own HVAC system and separate utility services, supported by updated interiors. Tenants are expected to pay all utilities.
The property sits on a 0.07-acre lot and includes 1,363 square feet of space. Construction materials include vinyl siding and wood frame elements, with central air cooling and forced air heating using natural gas. The home features a shingle roof and includes both a patio and a porch.
Built in 1905, the layout includes multiple bedrooms and bathrooms, providing flexible use for either rental occupancy or owner-occupant scenarios that combine living space with rental income. Public water and public sewer are available.
Buyer should confirm zoning, intended use, and all rental information.
The property sits on a 0.07-acre lot and includes 1,363 square feet of space. Construction materials include vinyl siding and wood frame elements, with central air cooling and forced air heating using natural gas. The home features a shingle roof and includes both a patio and a porch.
Built in 1905, the layout includes multiple bedrooms and bathrooms, providing flexible use for either rental occupancy or owner-occupant scenarios that combine living space with rental income. Public water and public sewer are available.
Buyer should confirm zoning, intended use, and all rental information.
Key Highlights
- Two separately metered living spaces with separate HVAC systems
- Tenants expected to pay all utilities
- Central air and forced air heat (natural gas)
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
$11,469
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
6.37%
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%
$229,380
$229.4K
Cap Rate 7%
$163,843
$163.8K
Cap Rate 9%
$127,433
$127.4K
Market Conditions
NOI Build-Up for 1,363 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
$17.3K $12.72/SF
− Vacancy
−$954 −$0.70/SF
EGI
$16.4K $12.02/SF
− OpEx
−$4.9K −$3.61/SF
NOI
$11.5K $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%
$229,380
Cap Rate 7%
$163,843
Cap Rate 9%
$127,433
Alternative Uses
Best Use
Multifamily LT 5
$163.8K
$143.4K – $191.2K
NOI $11,469 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$132.5K
$116.0K – $154.6K
NOI $9,276 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$353.3K
$309.1K – $412.2K
NOI $24,730 @ 7.0% cap · market cap 13.74%
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
773
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Fully renovated duplex with two separately metered living spaces, each with its own HVAC and utility services.
Where is this duplex located?
The property is located at 2711 Rodman St Louisville, KY.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Two separately metered living spaces with separate HVAC systems; Tenants expected to pay all utilities; Central air and forced air heat (natural gas)
