Renovated
For Sale
$280,000
Pending
1352 S Preston St, Louisville, KY 40208
Two-level income property with an updated upstairs unit and an established downstairs tenancy.
Property Size2,014 SF
Days on Market56
Property Features for 1352 S Preston St
General Information
Standard status
Pending
Size
2,014 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1974
Listing Agency:
RE/MAX Five Star Properties
Listed By:
Key Associates Signature Realty
(812) 686-3268
Source:
Keyassociates
Added: Aug 20
Changed: Oct 13
Last Checked: Oct 12 at 7:01PM
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 RE/MAX Five Star Properties
Investment Insights
Based on property information with market context.
This 2,014-square-foot duplex, built in 1974, includes an updated upstairs residence and a downstairs unit occupied by a tenant who has remained in place for years. The owners have maintained the property for more than 24 years, with improvements including HVAC replacement, a water heater, flooring, bathroom fixtures and finishes, lighting, appliances, blinds, and a sewer cleanout.
The property is located at 1352 S Preston St in Louisville, near the University of Louisville, downtown, Old Louisville, Frankfort Avenue, the Waterfront, the Highlands, and Nulu. The renovated upper unit provides an updated living space, while the established lower tenancy offers an existing rental arrangement.
The property is located at 1352 S Preston St in Louisville, near the University of Louisville, downtown, Old Louisville, Frankfort Avenue, the Waterfront, the Highlands, and Nulu. The renovated upper unit provides an updated living space, while the established lower tenancy offers an existing rental arrangement.
Key Highlights
- 2,014‑square‑foot duplex built in 1974
- Updated upstairs unit with new flooring, bathroom finishes, appliances, lighting, and blinds
- Downstairs tenant has been in place for years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,946
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$338,920
$338.9K
Cap Rate 7%
$242,086
$242.1K
Cap Rate 9%
$188,289
$188.3K
Market Conditions
NOI Build-Up for 2,014 SF
Gross rent
$25.6K $12.72/SF
− Vacancy
−$1.4K −$0.70/SF
EGI
$24.2K $12.02/SF
− OpEx
−$7.3K −$3.61/SF
NOI
$16.9K $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%
$338,920
Cap Rate 7%
$242,086
Cap Rate 9%
$188,289
Alternative Uses
Best Use
Multifamily LT 5
$242.1K
$211.8K – $282.4K
NOI $16,946 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$195.8K
$171.3K – $228.4K
NOI $13,706 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$522.0K
$456.8K – $609.0K
NOI $36,542 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level income property with an updated upstairs unit and an established downstairs tenancy.
Where is this duplex located?
The property is located at 1352 S Preston St Louisville, KY.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 2,014‑square‑foot duplex built in 1974; Updated upstairs unit with new flooring, bathroom finishes, appliances, lighting, and blinds; Downstairs tenant has been in place for years
