Fully Occupied
For Sale
$270,000
Pending
1313 S Floyd St, Louisville, KY 40208
Separately metered residences with individual heating and cooling systems and tenant-accessible off-street parking.
Property Size3,104 SF
Days on Market48
Property Features for 1313 S Floyd St
General Information
Standard status
Pending
Size
3,104 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Pollard Realty
Listed By:
Mike Hall
(502) 509-5131
Source:
Mlsky
Added: Jul 17
Changed: Aug 31
Last Checked: Aug 30 at 4:39PM
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 Pollard Realty
Investment Insights
Based on property information with market context.
This 3,104-square-foot duplex contains two residential units in a building constructed in 1900. The property is fully occupied and professionally managed, providing an established operating setup for an income-producing residential asset. Separate metering allows each unit to maintain its own utility service, while individual heating and cooling systems support independent occupancy.
Located at 1313 S Floyd St in Louisville, the property sits between the Downtown Business and Medical districts and the main campus of the University of Louisville. Off-street tenant parking is available on a first-come, first-served basis, adding practical convenience for residents. The combination of duplex configuration, existing occupancy, separate systems, and on-site parking supports continued residential use.
Located at 1313 S Floyd St in Louisville, the property sits between the Downtown Business and Medical districts and the main campus of the University of Louisville. Off-street tenant parking is available on a first-come, first-served basis, adding practical convenience for residents. The combination of duplex configuration, existing occupancy, separate systems, and on-site parking supports continued residential use.
Key Highlights
- 3,104‑square‑foot duplex at 1313 S Floyd St, Louisville, KY 40208
- Fully occupied residential property
- Building constructed in 1900
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
$21,124
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
7.82%
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%
$422,480
$422.5K
Cap Rate 7%
$301,771
$301.8K
Cap Rate 9%
$234,711
$234.7K
Market Conditions
NOI Build-Up for 3,104 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
$40.6K $13.08/SF
− Vacancy
−$2.2K −$0.71/SF
EGI
$38.4K $12.37/SF
− OpEx
−$17.3K −$5.57/SF
NOI
$21.1K $6.81/SF
Area
Louisville, KY
Vacancy
5.40%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
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%
$422,480
Cap Rate 7%
$301,771
Cap Rate 9%
$234,711
Alternative Uses
Best Use
Multifamily LT 5
$373.1K
$326.5K – $435.3K
NOI $26,118 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$301.8K
$264.1K – $352.1K
NOI $21,124 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$804.6K
$704.0K – $938.7K
NOI $56,319 @ 7.0% cap · market cap 20.86%
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
1,077
Businesses Nearby
Explore this area
Business Placement
Demographics for 40208, KY
17,048
Population
6,675
Households
2.6
Avg Household Size
27
Median Age
34%
College-Educated
88%
High-School Grad
2.6 sq mi
ZIP Area
6,557
Density / Sq Mi
$37,714
Median Household Income
$17,255
Median Earnings
$914
Median Rent
$153,100
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 - Separately metered residences with individual heating and cooling systems and tenant-accessible off-street parking.
Where is this duplex located?
The property is located at 1313 S Floyd St Louisville, KY.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: 3,104‑square‑foot duplex at 1313 S Floyd St, Louisville, KY 40208; Fully occupied residential property; Building constructed in 1900
