Turnkey 1-Bed
For Sale
$195,000
1108 Queen Ave #1 & 2, Louisville, KY 40215
Furnished duplex with two separately metered 1-bedroom, 1-bath units, each with covered patio, fenced yard, and off-street parking.
Days on Market207
Property Features for 1108 Queen Ave #1 & 2
General Information
Standard status
Active
Property subtype
Multi Family Home
Additional Details
Furnished
Yes
Fenced Yard
Yes
Multifamily Units
2
Amenities
fenced backyard
covered front porch
covered back patio
off street parking
Building Details
Building Size
1,710 SF
Year Built
1907
Tenancy
Multi
Listing Agency:
RE/MAX Premier Properties
(502) 384-5944
Listed By:
Jay Pitts · License #63303
(502) 384-5944
Source:
Demareeandhubbard
Added: Jan 5
Changed: Jul 27
Last Checked: Jul 30 at 12:15PM
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 furnished duplex includes two 1-bedroom, 1-bath units, each set up with an open floor plan. Unit A features a covered front porch, and both units share covered back patios that extend to much of the back yard. The property offers a privacy-fenced backyard and off-street parking. Each unit is separately metered and has its own HVAC.
Recent updates include an AC replacement in April 2005 and a water heater replacement in 2023, with modern kitchens and updated bathrooms noted for both units.
The duplex is offered as a turnkey property, with furnishings described as negotiable, supporting ready occupancy after purchase.
Recent updates include an AC replacement in April 2005 and a water heater replacement in 2023, with modern kitchens and updated bathrooms noted for both units.
The duplex is offered as a turnkey property, with furnishings described as negotiable, supporting ready occupancy after purchase.
Key Highlights
- Furnished duplex built in 1907 with two 1 bed/1 bath units (Unit A and Unit B).
- Each unit is separately metered and has separate HVAC.
- Both units feature a covered back patio that extends to most of the back yard.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.8k | $12.72 |
| − Vacancy | −$1.2k | −$0.70 |
| EGI | $20.6k | $12.02 |
| − OpEx | −$6.2k | −$3.61 |
| NOI | $14.4k | $8.41 |
1,710 SF · lease $12.72/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$205.5K
$179.9K – $239.8K
NOI $14,388 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$166.2K
$145.5K – $194.0K
NOI $11,637 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$443.2K
$387.8K – $517.1K
NOI $31,026 @ 7.0% cap · market cap 15.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 40215, KY
21,230
Population
9,070
Households
2.3
Avg Household Size
35
Median Age
13%
College-Educated
79%
High-School Grad
3.5 sq mi
ZIP Area
6,066
Density / Sq Mi
$42,762
Median Household Income
$32,815
Median Earnings
$976
Median Rent
$106,500
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 - Furnished duplex with two separately metered 1-bedroom, 1-bath units, each with covered patio, fenced yard, and off-street parking.
Where is this duplex located?
The property is located at 1108 Queen Ave #1 & 2 Louisville, KY.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Furnished duplex built in 1907 with two 1 bed/1 bath units (Unit A and Unit B).; Each unit is separately metered and has separate HVAC.; Both units feature a covered back patio that extends to most of the back yard.
