Duplex with Bonus
1425 Morton Ave, Louisville, KY 40204
For Sale
$405,000
Two residential units offer an additional room in one apartment and updated mechanical systems throughout.
Property Size2,453 SF
Price / SF$165.10
Days on Market16
Property Features for 1425 Morton Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
United Real Estate Louisville
Listed By:
Key Associates Signature Realty
(812) 686-3268
Source:
Keyassociates
Added: Oct 30
Changed: Nov 12
Last Checked: Nov 12 at 7:24AM
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 United Real Estate Louisville
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Investment Insights
Based on property information with market context.
Built in 1900, this 2,453-square-foot duplex contains two residential units. Each has two bedrooms and one bathroom; one also includes an extra room. Both apartments have new air-conditioning systems, furnaces, and water heaters.
The property is in Louisville’s Highlands, near restaurants, coffee shops, boutiques, parks, and entertainment.
The property is in Louisville’s Highlands, near restaurants, coffee shops, boutiques, parks, and entertainment.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- One apartment includes an additional room
- New air‑conditioning systems, furnaces, and water heaters in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,640
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,800
$412.8K
Cap Rate 7%
$294,857
$294.9K
Cap Rate 9%
$229,333
$229.3K
Market Conditions
NOI Build-Up for 2,453 SF
Gross rent
$31.2K $12.72/SF
− Vacancy
−$1.7K −$0.70/SF
EGI
$29.5K $12.02/SF
− OpEx
−$8.8K −$3.61/SF
NOI
$20.6K $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%
$412,800
Cap Rate 7%
$294,857
Cap Rate 9%
$229,333
Alternative Uses
Best Use
Multifamily LT 5
$294.9K
$258.0K – $344.0K
NOI $20,640 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$238.5K
$208.7K – $278.2K
NOI $16,694 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$635.8K
$556.3K – $741.8K
NOI $44,507 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,621
Businesses Nearby
Explore this area
Business Placement
Demographics for 40204, KY
14,600
Population
8,759
Households
1.7
Avg Household Size
38
Median Age
63%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
4,563
Density / Sq Mi
$70,706
Median Household Income
$50,246
Median Earnings
$1,225
Median Rent
$314,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Louisville, KY
Properties on Market for Duplexes in Louisville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer an additional room in one apartment and updated mechanical systems throughout.
Where is this duplex located?
The property is located at 1425 Morton Ave Louisville, KY.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; One apartment includes an additional room; New air‑conditioning systems, furnaces, and water heaters in both units
