Duplex with Fenced
For Sale
$250,000
Pending
1126 Milton St, Louisville, KY 40217
MULTI_FAMILY - Shotgun - Louisville, KY
Property Size1,424 SF
Days on Market28
Property Features for 1126 Milton St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Basement, Dining Room, Bedroom 2, Bedroom 3
Patio and Porch features
Patio, Porch
Subdivision
COMFORT PLACE
Lot features
Sidewalk
Directions
Goss Ave to S Shelby To Milton St.
Standard status
Pending
APN
09026G01080000
Size
1,424 SF
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
private entrance
covered patio
fully fenced backyard
Building Details
Year built
1900
Number of units
2
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Shotgun
Additional Structures
Outbuilding
Listing Agency:
Collective Roots Agency
(812) 589-9312
Listed By:
The Ryan Cecil Group
(502) 644-7864
Added: Jul 15
Changed: Aug 7
Last Checked: Aug 11 at 11:06PM
MLS# 1723343
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 1,424-square-foot duplex, built in 1900, contains two separately accessed residential units. Both interiors feature luxury vinyl plank flooring, light neutral paint, full bathrooms, kitchens, and comfortable living areas. One unit includes an arched transition into the kitchen, while the other offers a similarly arranged living and kitchen area. Covered patios extend the usable space outdoors, and the property has a large fully fenced backyard with rear parking.
The building has vinyl siding, a shingle roof, forced-air natural gas heating, central air, public water, and public sewer. Located at 1126 Milton St in Louisville, the property combines a two-unit layout with private entrances and practical exterior amenities.
The building has vinyl siding, a shingle roof, forced-air natural gas heating, central air, public water, and public sewer. Located at 1126 Milton St in Louisville, the property combines a two-unit layout with private entrances and practical exterior amenities.
Key Highlights
- 1,424 SF duplex with two separately entered units
- Large fully fenced backyard with covered patio
- Rear parking provides convenient access to the property
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
$11,982
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
4.79%
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%
$239,640
$239.6K
Cap Rate 7%
$171,171
$171.2K
Cap Rate 9%
$133,133
$133.1K
Market Conditions
NOI Build-Up for 1,424 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
$18.1K $12.72/SF
− Vacancy
−$996 −$0.70/SF
EGI
$17.1K $12.02/SF
− OpEx
−$5.1K −$3.61/SF
NOI
$12.0K $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 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%
$239,640
Cap Rate 7%
$171,171
Cap Rate 9%
$133,133
Alternative Uses
Best Use
Multifamily LT 5
$171.2K
$149.8K – $199.7K
NOI $11,982 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$138.4K
$121.1K – $161.5K
NOI $9,691 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$369.1K
$323.0K – $430.6K
NOI $25,837 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Explore this area
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
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 separately entered units include covered patios, rear parking, and updated interior finishes.
Where is this duplex located?
The property is located at 1126 Milton St Louisville, KY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,424 SF duplex with two separately entered units; Large fully fenced backyard with covered patio; Rear parking provides convenient access to the property
