Duplex with Remodeled
For Sale
$210,000
2826 W Chestnut St, Louisville, KY 40211
MULTI_FAMILY - Other - Louisville, KY
Property Size2,800 SF
Lot Size0.07 Acres
Price / SF$75
Days on Market97
Property Features for 2826 W Chestnut St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 2, Dining Room, Bathroom 1, Basement, Bedroom 4, Bathroom 2, Bedroom 6, Bedroom 3, Bedroom 1
Lot features
Sidewalk
Directions
I 264 to River Park exit east onto Chestnut
Subdivision
01-Dtwn Old Louisville/Shively/West Lou
Standard status
Active
APN
02001A00490000
Size
2,800 SF
Lot size
0.07 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Number of units
2
Building materials
Brick Veneer
Roof type
Shingle
Architectural style
Other
Listing Agency:
United Real Estate Louisville
(502) 509-4498
Listed By:
Teresa Armstrong · License #260860
(502) 220-3854
Added: May 23
Changed: Aug 3
Last Checked: Aug 27 at 6:06AM
MLS# 1718347
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 well-maintained duplex includes two separate residences: a spacious 4-bedroom, 1-bath unit spread across three levels, and a 2-bedroom, 1-bath unit with a functional two-level layout. Both units feature open living/dining areas, washer-dryer hookups, and additional storage potential in the basement. The bathrooms in both units have been remodeled. The property also benefits from a roof that is approximately 4 years old and new HVAC units.
The owner requires 48-hour notice due to tenants, and the tenants are on month-to-month lease terms. The owner occupies one unit, creating flexibility for future buyers. The seller currently rents rooms for the front unit when fully occupied, per the remarks.
For owner-occupants, this configuration supports living in one unit while generating rental income from the other. For investors, the duplex’s two distinct floorplans and updated interior bathrooms provide a straightforward setup for managing occupancy and unit-by-unit rent potential, subject to local lease terms and tenant arrangements. The layout and included mechanical and roof improvements are designed to reduce near-term maintenance concerns.
The owner requires 48-hour notice due to tenants, and the tenants are on month-to-month lease terms. The owner occupies one unit, creating flexibility for future buyers. The seller currently rents rooms for the front unit when fully occupied, per the remarks.
For owner-occupants, this configuration supports living in one unit while generating rental income from the other. For investors, the duplex’s two distinct floorplans and updated interior bathrooms provide a straightforward setup for managing occupancy and unit-by-unit rent potential, subject to local lease terms and tenant arrangements. The layout and included mechanical and roof improvements are designed to reduce near-term maintenance concerns.
Key Highlights
- Duplex with one 4‑bedroom, 1‑bath unit and one 2‑bedroom, 1‑bath unit
- Both units have an open living/dining area plus washer‑dryer hookups
- Bathrooms have been remodeled in both units
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
$19,055
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
9.07%
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%
$381,100
$381.1K
Cap Rate 7%
$272,214
$272.2K
Cap Rate 9%
$211,722
$211.7K
Market Conditions
NOI Build-Up for 2,800 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
$36.6K $13.08/SF
− Vacancy
−$2.0K −$0.71/SF
EGI
$34.6K $12.37/SF
− OpEx
−$15.6K −$5.57/SF
NOI
$19.1K $6.81/SF
Area
Louisville, KY
Vacancy
5.40%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
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%
$381,100
Cap Rate 7%
$272,214
Cap Rate 9%
$211,722
Alternative Uses
Best Use
Multifamily LT 5
$336.6K
$294.5K – $392.7K
NOI $23,560 @ 7.0% cap · market cap 11.22%
Second Best
Apartment 5plus
$272.2K
$238.2K – $317.6K
NOI $19,055 @ 7.0% cap · market cap 9.07%
Theoretical Best
Office A
$725.8K
$635.0K – $846.7K
NOI $50,803 @ 7.0% cap · market cap 24.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
Explore this area
Business Placement
Demographics for 40211, KY
21,310
Population
11,450
Households
1.9
Avg Household Size
37
Median Age
11%
College-Educated
86%
High-School Grad
7.3 sq mi
ZIP Area
2,919
Density / Sq Mi
$32,598
Median Household Income
$28,245
Median Earnings
$925
Median Rent
$97,900
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 - Well-maintained duplex with a 4-bedroom and a 2-bedroom unit, both with open living/dining areas.
Where is this duplex located?
The property is located at 2826 W Chestnut St Louisville, KY.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Duplex with one 4‑bedroom, 1‑bath unit and one 2‑bedroom, 1‑bath unit; Both units have an open living/dining area plus washer‑dryer hookups; Bathrooms have been remodeled in both units
