Updated Duplex with Basement
For Sale
$240,000
108 Mohawk Ave, Louisville, KY 40214
Two-level units offer laundry hookups, off-street parking, and separate basement storage areas.
Property Size1,370 SF
Price / SF$175.18
Days on Market30
Property Features for 108 Mohawk Ave
General Information
Standard status
Active
Size
1,370 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
covered front porch
laundry hook-ups
basement storage
Building Details
Buildings
1
Listing Agency:
RE/MAX Premier Properties
(502) 384-5944
Listed By:
Jay Pitts · License #63303
(502) 384-5944
Source:
Exprealty
Added: Jul 29
Changed: Aug 24
Last Checked: Aug 26 at 1:13PM
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 RE/MAX Premier Properties
Investment Insights
Based on property information with market context.
This updated duplex includes two residential units, each with 2 bedrooms and 1.5 bathrooms. Both layouts place one bedroom on the main level and the second upstairs, creating a practical separation between living and sleeping areas. Each unit also has laundry hookups and basement storage, while the property provides off-street parking and a covered front porch.
Recent work completed within the last 2 years includes AC units, the roof, a water heater and microwave for unit 2, a washer and dryer for unit 1, upgraded gas and water lines, new light fixtures, a concrete walkway, an electrical system, and basement drainage installed around the building. The property is located on Mohawk Ave in Louisville, with access to the Watterson Expressway and nearby dining, shopping, and entertainment.
Recent work completed within the last 2 years includes AC units, the roof, a water heater and microwave for unit 2, a washer and dryer for unit 1, upgraded gas and water lines, new light fixtures, a concrete walkway, an electrical system, and basement drainage installed around the building. The property is located on Mohawk Ave in Louisville, with access to the Watterson Expressway and nearby dining, shopping, and entertainment.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1.5 bathrooms per unit
- Each unit has one main‑level bedroom and a second bedroom upstairs
- Laundry hookups and basement storage are provided for each unit
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
$13,224
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
5.51%
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%
$264,480
$264.5K
Cap Rate 7%
$188,914
$188.9K
Cap Rate 9%
$146,933
$146.9K
Market Conditions
NOI Build-Up for 1,370 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
$20.6K $15.00/SF
− Vacancy
−$1.7K −$1.21/SF
EGI
$18.9K $13.79/SF
− OpEx
−$5.7K −$4.14/SF
NOI
$13.2K $9.65/SF
Area
ZIP 40214
Vacancy
8.07%
Lease Rate
$15.00 /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%
$264,480
Cap Rate 7%
$188,914
Cap Rate 9%
$146,933
Alternative Uses
Best Use
Multifamily LT 5
$188.9K
$165.3K – $220.4K
NOI $13,224 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$171.4K
$150.0K – $199.9K
NOI $11,996 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$328.3K
$287.2K – $383.0K
NOI $22,979 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
451
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
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-level units offer laundry hookups, off-street parking, and separate basement storage areas.
Where is this duplex located?
The property is located at 108 Mohawk Ave Louisville, KY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1.5 bathrooms per unit; Each unit has one main‑level bedroom and a second bedroom upstairs; Laundry hookups and basement storage are provided for each unit
