Duplex with Hardwood
1521 Morton Ave, Louisville, KY 40204
For Sale
$400,000
Fresh paint and a park across the street add practical appeal to this Louisville property.
Property Size1,978 SF
Price / SF$202.22
Days on Market59
Property Features for 1521 Morton Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Buildings
Listing Agency:
Lenihan Sotheby's Int'l Realty
(502) 899-2129
Listed By:
Renee McCartan
(502) 548-6501
Source:
Exprealty
Added: Sep 17
Changed: Oct 25
Last Checked: Nov 12 at 12:20PM
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 Lenihan Sotheby's Int'l 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 two-unit residential property at 1521 Morton Ave has hardwood floors and fresh paint. Its duplex layout offers two separate units.
A park is located across the street, with shops and restaurants along Baxter Avenue nearby. The property is in Louisville, Kentucky.
A park is located across the street, with shops and restaurants along Baxter Avenue nearby. The property is in Louisville, Kentucky.
Key Highlights
- Two‑unit duplex at 1521 Morton Ave
- Hardwood floors
- Fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,643
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,860
$332.9K
Cap Rate 7%
$237,757
$237.8K
Cap Rate 9%
$184,922
$184.9K
Market Conditions
NOI Build-Up for 1,978 SF
Gross rent
$25.2K $12.72/SF
− Vacancy
−$1.4K −$0.70/SF
EGI
$23.8K $12.02/SF
− OpEx
−$7.1K −$3.61/SF
NOI
$16.6K $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%
$332,860
Cap Rate 7%
$237,757
Cap Rate 9%
$184,922
Alternative Uses
Best Use
Multifamily LT 5
$237.8K
$208.0K – $277.4K
NOI $16,643 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$192.3K
$168.3K – $224.4K
NOI $13,461 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$512.7K
$448.6K – $598.2K
NOI $35,889 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,514
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
$314,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Fresh paint and a park across the street add practical appeal to this Louisville property.
Where is this duplex located?
The property is located at 1521 Morton Ave Louisville, KY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑unit duplex at 1521 Morton Ave; Hardwood floors; Fresh paint
