Duplex With Rental
New
For Sale
$469,900
1429 Morton Ave, Louisville, KY 40204
Multi Family, Louisville, KY
Property Size2,252 SF
Lot Size0.08 Acres
Price / SF$208.66
Days on Market2
Property Features for 1429 Morton Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 1, Dining Room, Basement, Bathroom 2
Patio and Porch features
Porch, Deck
Lot features
Sidewalk
Directions
Bardstown Rd to Baxter Ave; left onto Morton Ave; building is on the right
Subdivision
02-Butchertwn/Hghlnds/Germantwn
Standard status
Active
APN
09027A01230000
Size
2,252 SF
Lot size
0.08 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Number of units
2
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
Caperton Realty
(502) 386-3017
Listed By:
Deborah Kaufman · License #222275
(502) 631-0603
Added: Oct 10
Last Checked: Oct 11 at 6:06AM
MLS# 1731542
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 renovated duplex contains two separate residential units within 2,252 square feet. The property was built in 1900 and includes forced-air, natural-gas heating, central air conditioning, a porch, and a deck. Public water and sewer serve the site, which occupies 0.08 acres. The property has an established rental income history and a reported 6.57% cap rate.
Located at 1429 Morton Ave in Louisville, the duplex is in the Highlands neighborhood. Restaurants, boutiques, coffee shops, nightlife, parks, and entertainment are identified in the surrounding area; downtown Louisville and UofL are also described as minutes away.
Located at 1429 Morton Ave in Louisville, the duplex is in the Highlands neighborhood. Restaurants, boutiques, coffee shops, nightlife, parks, and entertainment are identified in the surrounding area; downtown Louisville and UofL are also described as minutes away.
Key Highlights
- Two separate residential units in a 2,252‑square‑foot duplex
- Reported 6.57% cap rate and established rental income
- 0.08‑acre lot in Louisville’s Highlands neighborhood
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,949
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$378,980
$379.0K
Cap Rate 7%
$270,700
$270.7K
Cap Rate 9%
$210,544
$210.5K
Market Conditions
NOI Build-Up for 2,252 SF
Gross rent
$28.6K $12.72/SF
− Vacancy
−$1.6K −$0.70/SF
EGI
$27.1K $12.02/SF
− OpEx
−$8.1K −$3.61/SF
NOI
$18.9K $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%
$378,980
Cap Rate 7%
$270,700
Cap Rate 9%
$210,544
Alternative Uses
Best Use
Multifamily LT 5
$270.7K
$236.9K – $315.8K
NOI $18,949 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$218.9K
$191.6K – $255.4K
NOI $15,326 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$583.7K
$510.8K – $681.0K
NOI $40,860 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
Check the figures for this property
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 distinct residences support rental use or owner occupancy alongside income from the second unit.
Where is this duplex located?
The property is located at 1429 Morton Ave Louisville, KY.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Two separate residential units in a 2,252‑square‑foot duplex; Reported 6.57% cap rate and established rental income; 0.08‑acre lot in Louisville’s Highlands neighborhood
