Updated Duplex with Off-Street
For Sale
$300,000
1114 S Shelby St, Louisville, KY 40203
Two separately metered units offer private entrances, laundry hookups, outdoor space, and flexible owner-occupant or investment use.
Property Size1,550 SF
Price / SF$193.55
Days on Market49
Property Features for 1114 S Shelby St
General Information
Standard status
Active
Size
1,550 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Neighborhood
Shelby Park
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
private entrance
separate electric meter
washer/dryer hookups
fully fenced and shaded yard
private deck
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Sell With Hale Realty & Auction
Listed By:
RE Solutions
(502) 219-3500
Source:
Resolutions
Added: Sep 13
Changed: Oct 28
Last Checked: Oct 30 at 2:08PM
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 Sell With Hale Realty & Auction
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Investment Insights
Based on property information with market context.
Built in 1900, this 1,550-square-foot duplex contains two distinct residences with private entrances, separate electric meters, and washer/dryer hookups. Unit 1 offers 1 bedroom and 1 bathroom, while Unit 2 provides 2 bedrooms and 1 bathroom. Exterior features include a fully fenced, shaded yard, a private deck serving Unit 2, and two newly paved off-street parking spaces reached from the alley.
Recent improvements include an Owens Corning roof installed in 2023 with a warranty, Carrier HVAC systems for both units installed in 2026, and new refrigerators in the units from 2025/2026. Tenants pay their own electricity, and the average water bill is about $87/month. The property is located in Shelby Park near restaurants, coffee shops, breweries, Logan Street Market, and grocery shopping.
Recent improvements include an Owens Corning roof installed in 2023 with a warranty, Carrier HVAC systems for both units installed in 2026, and new refrigerators in the units from 2025/2026. Tenants pay their own electricity, and the average water bill is about $87/month. The property is located in Shelby Park near restaurants, coffee shops, breweries, Logan Street Market, and grocery shopping.
Key Highlights
- Two‑unit duplex with 1,550 square feet and a 1‑bedroom/1‑bath unit plus a 2‑bedroom/1‑bath unit
- Separate electric meters and private entrances for both units
- Two newly paved off‑street parking spaces accessed from the alley
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,042
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$260,840
$260.8K
Cap Rate 7%
$186,314
$186.3K
Cap Rate 9%
$144,911
$144.9K
Market Conditions
NOI Build-Up for 1,550 SF
Gross rent
$19.7K $12.72/SF
− Vacancy
−$1.1K −$0.70/SF
EGI
$18.6K $12.02/SF
− OpEx
−$5.6K −$3.61/SF
NOI
$13.0K $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%
$260,840
Cap Rate 7%
$186,314
Cap Rate 9%
$144,911
Alternative Uses
Best Use
Multifamily LT 5
$186.3K
$163.0K – $217.4K
NOI $13,042 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$150.7K
$131.9K – $175.8K
NOI $10,549 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$401.8K
$351.5K – $468.7K
NOI $28,123 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,118
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units offer private entrances, laundry hookups, outdoor space, and flexible owner-occupant or investment use.
Where is this duplex located?
The property is located at 1114 S Shelby St Louisville, KY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,550 square feet and a 1‑bedroom/1‑bath unit plus a 2‑bedroom/1‑bath unit; Separate electric meters and private entrances for both units; Two newly paved off‑street parking spaces accessed from the alley
