Duplex with Covered
For Sale
$280,000
4608 S 3rd St, Louisville, KY 40214
Multi Family, Louisville, KY
Property Size2,923 SF
Price / SF$95.79
Days on Market8
Property Features for 4608 S 3rd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Dining Room, Bedroom 3, Bedroom 2, Bathroom 3, Basement, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 4
Patio and Porch features
Porch, Deck
Subdivision
WELLINGTON
Directions
Watterson Expressway (I-264) to S 3rd St. Head south on S 3rd St. Property is located at 4608 S 3rd St.
Standard status
Active
APN
058D00290000
Size
2,923 SF
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating), Natural Gas
Cooling system
Central Air, Ductless
Water source
Public
Amenities
decorative fireplace
built-ins
window seat
covered front porch
rear covered deck
in-unit laundry
Building Details
Year built
1925
Number of units
2
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Architectural style
Bungalow
Listing Agency:
Homepage Realty
(502) 690-6685
Listed By:
Angie Tonini-Rogers
(502) 210-8880
Added: Sep 30
Changed: Oct 2
Last Checked: Oct 7 at 12:06PM
MLS# 1730484
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 1925 bungalow is configured as a duplex with two 2-bedroom apartments and approximately 2,923 finished square feet, including a partially completed basement. Interior details include hardwood, tile, and carpet flooring, built-ins, a decorative fireplace, and a window seat with storage. The lower apartment has 1.5 baths and access to a covered porch and rear deck; the upper apartment has one full bath and in-unit laundry. The basement includes a recreation room, half bath, and storage and utility areas.
A driveway from S 3rd Street leads to rear parking and a covered carport, with additional access from the alley. A separate storage room is located beneath the rear deck. The property has public water and sewer. Heating and cooling systems include gas service and ductless units.
A driveway from S 3rd Street leads to rear parking and a covered carport, with additional access from the alley. A separate storage room is located beneath the rear deck. The property has public water and sewer. Heating and cooling systems include gas service and ductless units.
Key Highlights
- Duplex with two 2‑bedroom apartments
- Approximately 2,923 finished square feet, including a partially finished basement
- Rear covered carport accommodates 4 cars; driveway access from S 3rd Street and additional alley access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,595
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,900
$511.9K
Cap Rate 7%
$365,643
$365.6K
Cap Rate 9%
$284,389
$284.4K
Market Conditions
NOI Build-Up for 2,923 SF
Gross rent
$50.9K $17.40/SF
− Vacancy
−$4.3K −$1.48/SF
EGI
$46.5K $15.92/SF
− OpEx
−$20.9K −$7.16/SF
NOI
$25.6K $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%
$511,900
Cap Rate 7%
$365,643
Cap Rate 9%
$284,389
Alternative Uses
Best Use
Multifamily LT 5
$403.1K
$352.7K – $470.3K
NOI $28,215 @ 7.0% cap · market cap 10.08%
Second Best
Apartment 5plus
$365.6K
$319.9K – $426.6K
NOI $25,595 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$700.4K
$612.9K – $817.1K
NOI $49,028 @ 7.0% cap · market cap 17.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
422
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both apartments are currently rented, with the upper unit on a month-to-month arrangement.
Where is this duplex located?
The property is located at 4608 S 3rd St Louisville, KY.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Duplex with two 2‑bedroom apartments; Approximately 2,923 finished square feet, including a partially finished basement; Rear covered carport accommodates 4 cars; driveway access from S 3rd Street and additional alley access
