Building Details

Year built 1975

Number of units 1

Building materials Vinyl Siding

Roof type Shingle

Architectural style Ranch

Additional Structures Guest House

Listing Agency: Collective Roots Agency a***@homepagerealty.com Show Phone

Listed By: Whitney Holcomb · License #243081 Show Phone

Added: Sep 16 Changed: Sep 17 Last Checked: Sep 22 at 11:06AM

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MLS# 1729227

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 property consists of two remodeled ranch-style homes on a 0.19-acre lot. The residence at 114 Hardin Ct. measures just under 1,100 square feet and includes one large bedroom, one bathroom, and a bonus area with a walk-in closet. The 116 Hardin Ct. residence offers 850 square feet, one bedroom, one bathroom, and an additional loft area.

Each home is separately metered and currently occupied under month-to-month arrangements. Improvements include modern interior updates, vinyl siding, shingle roofing, central air, and forced-air heating. Both residences include porch space, while propane service supports the property’s heating and utility setup. The homes are located approximately 5 miles from Taylorsville Lake.

Key Highlights

• Two remodeled ranch‑style homes on one 0.19‑acre lot
• 114 Hardin Ct. offers just under 1,100 square feet with 1 bedroom and 1 bathroom
• 116 Hardin Ct. includes 850 square feet, 1 bedroom, and 1 bathroom

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

$19,138

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

7.09%

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%

$382,760 $382.8K

Cap Rate 7%

$273,400 $273.4K

Cap Rate 9%

$212,644 $212.6K

Market Conditions

NOI Build-Up for 1,923 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

$28.8K $15.00/SF

− Vacancy

−$1.5K −$0.78/SF

EGI

$27.3K $14.22/SF

− OpEx

−$8.2K −$4.27/SF

NOI

$19.1K $9.95/SF

Area

Spencer County, KY

Vacancy

5.22%

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%

$382,760

Cap Rate 7%

$273,400

Cap Rate 9%

$212,644

Alternative Uses

Best Use

Multifamily LT 5

$273.4K

$239.2K – $319.0K (±1% cap)

NOI $19,138 @ 7.0% cap · market cap 7.09%

Second Best

Apartment 5plus

$248.4K

$217.4K – $289.9K (±1% cap)

NOI $17,391 @ 7.0% cap · market cap 6.44%

Theoretical Best

Office A

$405.4K

$354.7K – $473.0K (±1% cap)

NOI $28,378 @ 7.0% cap · market cap 10.51%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Electrical Service Carpet & Flooring Store (Bike/Boat/Book/etc) Store Butcher Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

212

Businesses Nearby

Explore this area Business Placement

Demographics for 40071, KY

16,106

Population

6,264

Households

2.6

Avg Household Size

42

Median Age

21%

College-Educated

93%

High-School Grad

121.3 sq mi

ZIP Area

133

Density / Sq Mi

$97,349

Median Household Income

$45,121

Median Earnings

$941

Median Rent

$297,900

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Farm with Residence

2090 Mount Washington Rd, Taylorsville, KY 40071

$3,999,000

2,727 SF

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Two-Home Multifamily Property

114 Hardin Ct, Taylorsville, KY 40071

$269,999

1,923 SF

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Frequently Asked Questions

What type of property is this?

Duplex - Two updated homes share one lot, with separate utility metering and flexible bonus spaces.

Where is this duplex located?

The property is located at 114 Hardin Ct Taylorsville, KY.

What is the asking price?

The asking price for this property is $269,999.

What are key features of this property?

This property features: Two remodeled ranch‑style homes on one 0.19‑acre lot; 114 Hardin Ct. offers just under 1,100 square feet with 1 bedroom and 1 bathroom; 116 Hardin Ct. includes 850 square feet, 1 bedroom, and 1 bathroom