Updated Duplex with Off-Street
For Sale
$240,000
108 Mohawk Ave, Louisville, KY 40214
MULTI_FAMILY - Other - Louisville, KY
Property Size1,370 SF
Lot Size0.11 Acres
Price / SF$175.18
Days on Market20
Property Features for 108 Mohawk Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Bedroom 2, Bathroom 1, Basement, Bedroom 3, Bathroom 2
Subdivision
MERIDALE
Directions
Watterson Expressway to S 3rd St, left on W Wampum Ave, left on S 1st St, right on Mohawk Ave
Standard status
Active
APN
12057H00060000
Size
1,370 SF
Lot size
0.11 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
covered front porch
off-street parking
laundry hook-ups
storage space
Building Details
Year built
1925
Number of units
2
Building materials
Block, Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX Premier Properties · RE/MAX International
(502) 384-5944
Listed By:
Jay Pitts · License #63303
(502) 384-5944
Added: Jul 29
Changed: Aug 15
Last Checked: Aug 17 at 9:06PM
MLS# 1724752
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 duplex contains 1,370 square feet on a 0.11-acre lot, with two residential units arranged for practical daily living. Each unit includes two bedrooms, one bedroom on the main level and another upstairs, along with one-and-a-half bathrooms. Covered front porches, off-street parking, basement storage, and laundry hookups serve the property. Construction features include block and brick, with central air, forced-air natural gas heat, a shingle roof, public water, and public sewer.
Major work completed within the last 2 years includes AC units, the roof, a water heater and microwave in unit 2, a washer and dryer in unit 1, gas line and water-system upgrades, new lighting, a concrete walkway, electrical improvements, and a basement drainage system around the building. The property is located at 108 Mohawk Ave in Louisville, with access to the Watterson Expressway and nearby dining, shopping, and entertainment.
Major work completed within the last 2 years includes AC units, the roof, a water heater and microwave in unit 2, a washer and dryer in unit 1, gas line and water-system upgrades, new lighting, a concrete walkway, electrical improvements, and a basement drainage system around the building. The property is located at 108 Mohawk Ave in Louisville, with access to the Watterson Expressway and nearby dining, shopping, and entertainment.
Key Highlights
- Two‑unit duplex with 1,370 square feet on a 0.11‑acre lot
- Each unit offers 2 bedrooms and 1.5 bathrooms
- AC units, roof, electrical, drainage, gas line, and water‑system work completed within the last 2 years
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate laundry hookups, basement storage, covered porches, and recent systems improvements.
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 1,370 square feet on a 0.11‑acre lot; Each unit offers 2 bedrooms and 1.5 bathrooms; AC units, roof, electrical, drainage, gas line, and water‑system work completed within the last 2 years
