Triplex with Fenced
For Sale
$359,000
1347 S Floyd St, Louisville, KY 40208
Separate electric metering places tenant utility responsibility with residents while ownership covers water and sewer.
Property Size2,529 SF
Days on Market15
Property Features for 1347 S Floyd St
General Information
Standard status
Active
Size
2,529 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
3
Amenities
privacy-fenced backyard
Building Details
Building Size
2,529 SF
Year Built
1910
Buildings
1
Units
3
Listing Agency:
Winner Realty
(502) 552-8519
Listed By:
Rob Bergeron · License #219325
(502) 552-8519
Source:
Demareeandhubbard
Added: Jul 29
Changed: Aug 11
Last Checked: Aug 12 at 11:55AM
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 Winner Realty
Investment Insights
Based on property information with market context.
Built in 1910, this three-unit property at 1347 S Floyd St provides a multifamily configuration with a privacy-fenced backyard. The building is separately metered for LG&E electric service, with tenants responsible for their own utilities and ownership covering water and sewer.
The triplex is located in Old Louisville near Shelby Park, Mag Bar, and Burger Boy. An assumable FHA loan at 3.125% is also associated with the property.
The triplex is located in Old Louisville near Shelby Park, Mag Bar, and Burger Boy. An assumable FHA loan at 3.125% is also associated with the property.
Key Highlights
- Three‑unit multifamily property built in 1910
- 1347 S Floyd St, Louisville, KY 40208
- Separate LG&E metering; tenants cover their own utilities
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
$21,280
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
5.93%
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%
$425,600
$425.6K
Cap Rate 7%
$304,000
$304.0K
Cap Rate 9%
$236,444
$236.4K
Market Conditions
NOI Build-Up for 2,529 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
$32.2K $12.72/SF
− Vacancy
−$1.8K −$0.70/SF
EGI
$30.4K $12.02/SF
− OpEx
−$9.1K −$3.61/SF
NOI
$21.3K $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%
$425,600
Cap Rate 7%
$304,000
Cap Rate 9%
$236,444
Alternative Uses
Best Use
Multifamily LT 5
$304.0K
$266.0K – $354.7K
NOI $21,280 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$245.9K
$215.1K – $286.9K
NOI $17,211 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$655.5K
$573.6K – $764.8K
NOI $45,886 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Separate electric metering places tenant utility responsibility with residents while ownership covers water and sewer.
Where is this triplex located?
The property is located at 1347 S Floyd St Louisville, KY.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1910; 1347 S Floyd St, Louisville, KY 40208; Separate LG&E metering; tenants cover their own utilities
