Duplex with Renovated
New
For Sale
$325,000
113 E Saint Catherine St, Louisville, KY 40203
MULTI_FAMILY - Other - Louisville, KY
Property Size3,101 SF
Lot Size0.00 Acres
Price / SF$104.80
Days on Market6
Property Features for 113 E Saint Catherine St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Basement, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 4, Bedroom 2, Dining Room, Bedroom 6
Patio and Porch features
Porch, Patio, Deck
Exterior features
Balcony
Subdivision
OLD LOUISVILLE
Directions
65 closed. 1st Street to St. Catherine
Standard status
Active
APN
08030G00540000
Size
3,101 SF
Lot size
0.00 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
fenced backyard
Building Details
Year built
1900
Number of units
2
Building materials
Brick
Roof type
Shingle, Flat
Architectural style
Other
Listing Agency:
United Real Estate Louisville
(502) 509-4498
Listed By:
Barbara E Jones
(502) 544-5749
Added: Aug 1
Changed: Aug 6
Last Checked: Aug 6 at 1:06PM
MLS# 1725091
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.
Located at 113 E Saint Catherine St, this 3,101-square-foot brick duplex includes two residential units with separate layouts. Unit 1 was renovated in 2020 and features two bedrooms, one bathroom, refinished wood floors, high ceilings, granite kitchen countertops, a gas range, refrigerator, pantry, and luxury vinyl flooring in the kitchen. It is occupied by a long-term tenant. Unit 2 spans three stories and includes multiple bedrooms, a bathroom, living and dining areas, a kitchen with refrigerator, newer cabinetry, double sink, and pantry, plus a balcony and new carpet on the upper level.
The property also includes a 2025 roof, central air, forced-air and electric heating, public water and sewer, a fenced shared backyard, off-street parking, and porch, patio, and deck areas. Its Louisville setting provides proximity to UofL, a bus line, and an expressway. The property was built in 1900.
The property also includes a 2025 roof, central air, forced-air and electric heating, public water and sewer, a fenced shared backyard, off-street parking, and porch, patio, and deck areas. Its Louisville setting provides proximity to UofL, a bus line, and an expressway. The property was built in 1900.
Key Highlights
- 3,101‑square‑foot brick duplex at 113 E Saint Catherine St
- Unit 1 renovated in 2020 with two bedrooms, one bathroom, refinished wood floors, and granite kitchen counters
- 2025 roof installation
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
$26,093
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
8.03%
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%
$521,860
$521.9K
Cap Rate 7%
$372,757
$372.8K
Cap Rate 9%
$289,922
$289.9K
Market Conditions
NOI Build-Up for 3,101 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
$39.4K $12.72/SF
− Vacancy
−$2.2K −$0.70/SF
EGI
$37.3K $12.02/SF
− OpEx
−$11.2K −$3.61/SF
NOI
$26.1K $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%
$521,860
Cap Rate 7%
$372,757
Cap Rate 9%
$289,922
Alternative Uses
Best Use
Multifamily LT 5
$372.8K
$326.2K – $434.9K
NOI $26,093 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$301.5K
$263.8K – $351.7K
NOI $21,104 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$803.8K
$703.3K – $937.8K
NOI $56,265 @ 7.0% cap · market cap 17.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,808
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
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 - Brick duplex with distinct layouts, residential amenities, and access to nearby university, transit, and expressway connections.
Where is this duplex located?
The property is located at 113 E Saint Catherine St Louisville, KY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 3,101‑square‑foot brick duplex at 113 E Saint Catherine St; Unit 1 renovated in 2020 with two bedrooms, one bathroom, refinished wood floors, and granite kitchen counters; 2025 roof installation
