Brick Duplex with
For Sale
$315,000
1033 S Brook St, Louisville, KY 40203
MULTI_FAMILY - Other - Louisville, KY
Property Size2,532 SF
Lot Size0.04 Acres
Price / SF$124.41
Days on Market8
Property Features for 1033 S Brook St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 3, Basement, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 2, Bathroom 2
Patio and Porch features
Deck
Subdivision
OLD LOUISVILLE
Directions
West on Broadway left onto brook st
Standard status
Active
APN
08030H00030000
Size
2,532 SF
Lot size
0.04 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Number of units
2
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
EXP Realty LLC
(888) 624-6448
Listed By:
Ethan J Adams · License #244623
(502) 558-8193
Added: Aug 4
Changed: Aug 5
Last Checked: Aug 11 at 8:06PM
MLS# 1725393
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 brick duplex at 1033 S Brook St includes 2,532 square feet on a 0.04-acre lot. The property contains two units: one offers 2 bedrooms and 1.5 bathrooms, while the second includes 2 bedrooms and 1 bathroom. Both units are vacant at closing. Interior features include open living and kitchen areas, a basement, and a deck.
Built in 1900, the property has a shingle roof, central air, natural gas forced-air heat, public water, and public sewer. Its Louisville location places the duplex near the University of Louisville, downtown, parks, and public transit.
Built in 1900, the property has a shingle roof, central air, natural gas forced-air heat, public water, and public sewer. Its Louisville location places the duplex near the University of Louisville, downtown, parks, and public transit.
Key Highlights
- Two‑unit duplex with 2,532 square feet
- Unit mix includes 2 bed / 1.5 bath and 2 bed / 1 bath layouts
- Both units vacant at closing
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
$21,305
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
6.76%
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%
$426,100
$426.1K
Cap Rate 7%
$304,357
$304.4K
Cap Rate 9%
$236,722
$236.7K
Market Conditions
NOI Build-Up for 2,532 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
$32.2K $12.72/SF
− Vacancy
−$1.8K −$0.70/SF
EGI
$30.4K $12.02/SF
− OpEx
−$9.1K −$3.61/SF
NOI
$21.3K $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%
$426,100
Cap Rate 7%
$304,357
Cap Rate 9%
$236,722
Alternative Uses
Best Use
Multifamily LT 5
$304.4K
$266.3K – $355.1K
NOI $21,305 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$246.2K
$215.4K – $287.2K
NOI $17,232 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$656.3K
$574.3K – $765.7K
NOI $45,941 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,810
Businesses Nearby
Explore this area
Business Placement
Demographics for 40203, KY
16,801
Population
10,754
Households
1.6
Avg Household Size
37
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
5,793
Density / Sq Mi
$31,430
Median Household Income
$32,581
Median Earnings
$828
Median Rent
$179,300
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 - Two residential units offer flexible occupancy options near the University of Louisville and downtown Louisville.
Where is this duplex located?
The property is located at 1033 S Brook St Louisville, KY.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,532 square feet; Unit mix includes 2 bed / 1.5 bath and 2 bed / 1 bath layouts; Both units vacant at closing
