Occupied 3-Unit
1347 S Floyd St, Louisville, KY 40208
For Sale
New
$350,000
Separate LG&E meters and tenant-paid utilities reduce the owner’s utility responsibilities to water and sewer.
Property Size2,529 SF
Price / SF$138.39
Days on Market2
Property Features for 1347 S Floyd St
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Amenities
privacy-fenced backyard
Building Details
Year Built
Listing Agency:
Winner Realty
Listed By:
Rob Bergeron · License KY #219325
(502) 552-8519
Source:
Familyrealty
Added: Nov 8
Changed: Nov 9
Last Checked: Sep 21 at 7:58AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Louisville triplex contains three occupied units. LG&E service is separately metered, and tenants cover their utilities; the owner pays water and sewer. A privacy fence encloses the backyard.
The property is in Old Louisville, minutes from Shelby Park, Mag Bar, and Burger Boy. Unit 1 may be viewed before an accepted contract; access to the other units is available during the inspection period after an offer is accepted.
The property is in Old Louisville, minutes from Shelby Park, Mag Bar, and Burger Boy. Unit 1 may be viewed before an accepted contract; access to the other units is available during the inspection period after an offer is accepted.
Key Highlights
- Three occupied residential units
- LG&E service is separately metered; tenants cover utilities while the owner pays water and sewer
- Privacy‑fenced backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,280
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
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
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 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 6.08%
Second Best
Apartment 5plus
$245.9K
$215.1K – $286.9K
NOI $17,211 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$655.5K
$573.6K – $764.8K
NOI $45,886 @ 7.0% cap · market cap 13.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
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
$153,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Louisville, KY
Properties on Market for Triplexes in Louisville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Separate LG&E meters and tenant-paid utilities reduce the owner’s utility responsibilities to 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 $350,000.
What are key features of this property?
This property features: Three occupied residential units; LG&E service is separately metered; tenants cover utilities while the owner pays water and sewer; Privacy‑fenced backyard
