Fully Occupied Duplex with Separate
For Sale
$270,000
Pending
1313 S Floyd St, Louisville, KY 40208
Multi Family, Louisville, KY
Property Size3,104 SF
Days on Market61
Property Features for 1313 S Floyd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 3, Basement, Bedroom 1, Bedroom 5, Bedroom 4
Lot features
Sidewalk
Directions
Floyd Street between E. Ormsby Ave. and Woodbine St.
Subdivision
01-Dtwn Old Louisville/Shively/West Lou
Standard status
Pending
APN
032g01090000
Size
3,104 SF
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
off street parking
Building Details
Year built
1900
Number of units
2
Building materials
Wood Frame, Brick Veneer, Brick
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Kentucky Select Properties
(502) 271-5000
Listed By:
Clayton Gentile
(502) 386-6660
Added: Jul 14
Changed: Sep 8
Last Checked: Sep 12 at 6:06AM
MLS# 1723285
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 fully occupied duplex contains 3,104 square feet and was built in 1900. The property includes separate electric metering, individual heating and cooling for each unit, forced-air heat, central air, a basement, and a shingle and asphalt roof. Wood-frame construction with brick and brick veneer contributes to the building’s original character. Public water and public sewer serve the property.
Located at 1313 S Floyd St in Louisville’s Old Louisville area, the duplex sits between the Downtown Business and Medical districts and the main campus of the University of Louisville. Off-street parking is available to tenants on a first-come, first-served basis. The property is professionally managed and currently occupied.
Located at 1313 S Floyd St in Louisville’s Old Louisville area, the duplex sits between the Downtown Business and Medical districts and the main campus of the University of Louisville. Off-street parking is available to tenants on a first-come, first-served basis. The property is professionally managed and currently occupied.
Key Highlights
- 3,104‑square‑foot duplex built in 1900
- Fully occupied and professionally managed
- Separate electric meters, heating, and cooling for each unit
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
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units have independent metering, heating, and cooling, with tenant parking available off street.
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 built in 1900; Fully occupied and professionally managed; Separate electric meters, heating, and cooling for each unit
