Vacant Duplex with Updated
For Sale
$175,000
1038 Sylvia St, Louisville, KY 40217
Two vacant units allow immediate occupancy, renovation, or flexible owner-occupant use.
Property Size1,615 SF
Price / SF$108.36
Days on Market63
Property Features for 1038 Sylvia St
General Information
Standard status
Active
Size
1,615 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Schnitzelburg
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Listing Agency:
EXP Realty LLC
(888) 624-6448
Listed By:
Ethan J Adams · License #244623
(502) 558-8193
Source:
Exprealty
Added: Aug 27
Changed: Oct 27
Last Checked: Oct 28 at 11:56AM
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 EXP Realty LLC
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Investment Insights
Based on property information with market context.
This vacant duplex contains 1,615 square feet across two separate residences. The unit mix includes one one-bedroom, one-bath layout and one three-bedroom, one-bath layout. One residence has been updated, while both units remain available for renovation, inspection, or immediate move-in without coordinating with tenants.
The property is located in Germantown at 1038 Sylvia St in Louisville, Kentucky. The surrounding neighborhood is described as walkable, with local restaurants and a close-knit community character.
The property is located in Germantown at 1038 Sylvia St in Louisville, Kentucky. The surrounding neighborhood is described as walkable, with local restaurants and a close-knit community character.
Key Highlights
- 1,615‑square‑foot duplex with two residential units
- Unit mix includes 1 bed/1 bath and 3 bed/1 bath layouts
- One unit has already been updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,589
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$271,780
$271.8K
Cap Rate 7%
$194,129
$194.1K
Cap Rate 9%
$150,989
$151.0K
Market Conditions
NOI Build-Up for 1,615 SF
Gross rent
$20.5K $12.72/SF
− Vacancy
−$1.1K −$0.70/SF
EGI
$19.4K $12.02/SF
− OpEx
−$5.8K −$3.61/SF
NOI
$13.6K $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 Rate 5%
$271,780
Cap Rate 7%
$194,129
Cap Rate 9%
$150,989
Alternative Uses
Best Use
Multifamily LT 5
$194.1K
$169.9K – $226.5K
NOI $13,589 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$157.0K
$137.4K – $183.2K
NOI $10,991 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$418.6K
$366.3K – $488.4K
NOI $29,303 @ 7.0% cap · market cap 16.74%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
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Business Placement
Demographics for 40217, KY
13,061
Population
6,840
Households
1.9
Avg Household Size
36
Median Age
48%
College-Educated
95%
High-School Grad
2.4 sq mi
ZIP Area
5,442
Density / Sq Mi
$68,573
Median Household Income
$48,298
Median Earnings
$1,150
Median Rent
$220,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two vacant units allow immediate occupancy, renovation, or flexible owner-occupant use.
Where is this duplex located?
The property is located at 1038 Sylvia St 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: 1,615‑square‑foot duplex with two residential units; Unit mix includes 1 bed/1 bath and 3 bed/1 bath layouts; One unit has already been updated
