Triplex with Vacant
New
For Sale
$575,000
1522 Rosewood Ave, Louisville, KY 40204
Two leased apartments and a vacant studio provide a flexible three-unit configuration with shared amenities.
Property Size3,032 SF
Price / SF$189.64
Days on Market2
Property Features for 1522 Rosewood Ave
General Information
Standard status
Active
Size
3,032 SF
Property subtype
Multi-Family
Building Details
Year Built
1910
Listing Agency:
Semonin Realtors
Listed By:
Ruby J Neichter · License #181331
Source:
Familyrealty
Added: Sep 15
Last Checked: Sep 15 at 2:22PM
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 Semonin Realtors
Investment Insights
Based on property information with market context.
Built in 1910, this 3,032-square-foot triplex includes two similar apartments and a third-floor studio. The first- and second-floor residences each have 2 bedrooms, 1 bath, hardwood flooring, and outdoor space. Both are leased through mid-2027. The third-floor studio is vacant, offering straightforward access for showings and a separate unit configuration. Basement amenities include storage and shared laundry, while off-street parking serves the property.
Located at 1522 Rosewood Ave in Louisville, the property is near Tyler Park. The owner covers water and trash, while tenants pay LGE. The combination of two occupied apartments, a vacant studio, basement facilities, and outdoor areas creates a defined three-unit layout.
Located at 1522 Rosewood Ave in Louisville, the property is near Tyler Park. The owner covers water and trash, while tenants pay LGE. The combination of two occupied apartments, a vacant studio, basement facilities, and outdoor areas creates a defined three-unit layout.
Key Highlights
- 3,032‑square‑foot triplex built in 1910
- Two 2‑bedroom, 1‑bath apartments with hardwood floors
- Both occupied apartments have leases extending to mid‑2027
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,512
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,240
$510.2K
Cap Rate 7%
$364,457
$364.5K
Cap Rate 9%
$283,467
$283.5K
Market Conditions
NOI Build-Up for 3,032 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$38.6K $12.72/SF
− Vacancy
−$2.1K −$0.70/SF
EGI
$36.4K $12.02/SF
− OpEx
−$10.9K −$3.61/SF
NOI
$25.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,240
Cap Rate 7%
$364,457
Cap Rate 9%
$283,467
Alternative Uses
Best Use
Multifamily LT 5
$364.5K
$318.9K – $425.2K
NOI $25,512 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$294.8K
$257.9K – $343.9K
NOI $20,634 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$785.9K
$687.7K – $916.9K
NOI $55,013 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,186
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
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Two leased apartments and a vacant studio provide a flexible three-unit configuration with shared amenities.
Where is this triplex located?
The property is located at 1522 Rosewood Ave Louisville, KY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,032‑square‑foot triplex built in 1910; Two 2‑bedroom, 1‑bath apartments with hardwood floors; Both occupied apartments have leases extending to mid‑2027
