Renovated Duplex with Separate
For Sale
$220,000
13020 E Orell Rd, Louisville, KY 40272
Two-level layout supports independent occupancy with updated kitchens, baths, flooring, and mechanical systems.
Property Size1,865 SF
Price / SF$131.97
Days on Market28
Property Features for 13020 E Orell Rd
General Information
Standard status
Active
Size
1,865 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Building Details
Building Size
1,865 SF
Year Built
1968
Units
2
Listing Agency:
United Real Estate Louisville
(502) 509-4498
Listed By:
Kelcie Hornback
(502) 509-4498
Source:
Demareeandhubbard
Added: Jul 28
Changed: Aug 21
Last Checked: Aug 23 at 11:56AM
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 United Real Estate Louisville
Investment Insights
Based on property information with market context.
Built in 1968, this renovated duplex provides 862 sq ft of above-grade space and 805 sq ft of updated finished space below grade. Each level operates independently and has its own private entrance, separate meter, new HVAC and furnace systems, and individual new water heater.
Interior updates include new flooring and carpet, fresh paint, kitchen cabinetry, countertops, and appliances. The configuration supports use as a full duplex or as an upper residence with a separate lower-level suite. The property is positioned near shopping, dining, and major roadways.
Interior updates include new flooring and carpet, fresh paint, kitchen cabinetry, countertops, and appliances. The configuration supports use as a full duplex or as an upper residence with a separate lower-level suite. The property is positioned near shopping, dining, and major roadways.
Key Highlights
- 862 sq ft above grade plus 805 sq ft of updated finished space below grade
- Independent levels with private entrances and separate meters
- New HVAC and furnace systems for each level
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
$14,027
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
6.38%
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%
$280,540
$280.5K
Cap Rate 7%
$200,386
$200.4K
Cap Rate 9%
$155,856
$155.9K
Market Conditions
NOI Build-Up for 1,667 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
$21.2K $12.72/SF
− Vacancy
−$1.2K −$0.70/SF
EGI
$20.0K $12.02/SF
− OpEx
−$6.0K −$3.61/SF
NOI
$14.0K $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%
$280,540
Cap Rate 7%
$200,386
Cap Rate 9%
$155,856
Alternative Uses
Best Use
Multifamily LT 5
$200.4K
$175.3K – $233.8K
NOI $14,027 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$162.1K
$141.8K – $189.1K
NOI $11,345 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$432.1K
$378.1K – $504.1K
NOI $30,246 @ 7.0% cap · market cap 13.75%
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
142
Businesses Nearby
Explore this area
Business Placement
Demographics for 40272, KY
37,747
Population
15,469
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
90%
High-School Grad
33.3 sq mi
ZIP Area
1,134
Density / Sq Mi
$66,382
Median Household Income
$37,644
Median Earnings
$1,147
Median Rent
$169,700
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 - Two-level layout supports independent occupancy with updated kitchens, baths, flooring, and mechanical systems.
Where is this duplex located?
The property is located at 13020 E Orell Rd Louisville, KY.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 862 sq ft above grade plus 805 sq ft of updated finished space below grade; Independent levels with private entrances and separate meters; New HVAC and furnace systems for each level
