Two-Property Duplex
For Sale
$175,000
1031-1033 Euclid Ave, Louisville, KY 40208
Two adjacent duplex properties are offered together and remain occupied by tenants.
Property Size2,048 SF
Price / SF$85.45
Days on Market11
Property Features for 1031-1033 Euclid Ave
General Information
Standard status
Active
Size
2,048 SF
Property subtype
Multi-Family
Additional Details
Asking Price
$350,000
Building Details
Year Built
1915
Buildings
2
Listing Agency:
Lenihan Sotheby's Int'l Realty
(502) 509-5131
Listed By:
Mike Hall
(502) 509-5131
Source:
Mlsky
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 28 at 10:17AM
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 Lenihan Sotheby's Int'l Realty
Investment Insights
Based on property information with market context.
This offering includes two neighboring duplex properties at 1031 and 1033 Euclid Ave in Louisville. The combined property size is 2,048 square feet, with both structures dating to 1915. Tenant occupancy is in place, and property access requires advance notice for showings.
Showings must be coordinated through the listing agent, with specific instructions provided before access. The properties are offered together as a single duplex package.
Showings must be coordinated through the listing agent, with specific instructions provided before access. The properties are offered together as a single duplex package.
Key Highlights
- Two neighboring duplex properties offered together
- Combined property size of 2,048 square feet
- Both properties were built in 1915
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
$13,938
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
7.96%
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%
$278,760
$278.8K
Cap Rate 7%
$199,114
$199.1K
Cap Rate 9%
$154,867
$154.9K
Market Conditions
NOI Build-Up for 2,048 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
$26.8K $13.08/SF
− Vacancy
−$1.4K −$0.71/SF
EGI
$25.3K $12.37/SF
− OpEx
−$11.4K −$5.57/SF
NOI
$13.9K $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%
$278,760
Cap Rate 7%
$199,114
Cap Rate 9%
$154,867
Alternative Uses
Best Use
Multifamily LT 5
$246.2K
$215.4K – $287.2K
NOI $17,232 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$199.1K
$174.2K – $232.3K
NOI $13,938 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$530.8K
$464.5K – $619.3K
NOI $37,159 @ 7.0% cap · market cap 21.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
564
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two adjacent duplex properties are offered together and remain occupied by tenants.
Where is this duplex located?
The property is located at 1031-1033 Euclid Ave Louisville, KY.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two neighboring duplex properties offered together; Combined property size of 2,048 square feet; Both properties were built in 1915
