Brick Duplex with
1661 Story Ave Louisville, KY 40206
New
For Sale
$455,000
MULTI_FAMILY - Louisville, KY
Property Size2,667 SF
Price / SF$170.60
Days on Market5
Property Features for 1661 Story Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 3
Standard status
Active
APN
020F00320000
Size
2,667 SF
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
1875
Number of units
2
Building materials
Brick
Additional Structures
Outbuilding
Listing Agency:
RE/MAX Premier Properties
(502) 384-5944
Listed By:
Keren Benabou · License #72524
(502) 614-9899
Added: Jul 24
Last Checked: Jul 28 at 5:06AM
MLS# 1724381
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.
1661 Story Ave is an all-brick duplex featuring two separate residential units and an additional outbuilding. The first-floor unit offers flexible layout options with two or three bedrooms and two full bathrooms. The second-floor unit is a one-bedroom, one-bath configuration. Off-street parking and extra storage or workspace space in the outbuilding support day-to-day use.
The property is located in Louisville’s Butchertown area and is listed as zoned R-7 with residual land, creating opportunities for future use. Improvements already completed include a new roof in 2019, two HVAC systems installed in 2018, and two water heaters replaced in 2017, along with updated kitchens and renovated bathrooms.
Both units are separately metered for LG&E, supporting independent utilities for tenants and easing expense allocation for an owner.
The property is located in Louisville’s Butchertown area and is listed as zoned R-7 with residual land, creating opportunities for future use. Improvements already completed include a new roof in 2019, two HVAC systems installed in 2018, and two water heaters replaced in 2017, along with updated kitchens and renovated bathrooms.
Both units are separately metered for LG&E, supporting independent utilities for tenants and easing expense allocation for an owner.
Key Highlights
- All‑brick duplex built in 1875 with approx. 2,667 SF and 3rd full bath plus multiple bedrooms across two units
- Two units with separate LG&E meters, including a first‑floor unit with flexible 2–3 bedroom and 2 full bath layout
- Second‑floor unit offers a 1‑bedroom, 1‑bath layout
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.9k | $12.72 |
| − Vacancy | −$1.9k | −$0.70 |
| EGI | $32.1k | $12.02 |
| − OpEx | −$9.6k | −$3.61 |
| NOI | $22.4k | $8.41 |
2,667 SF · lease $12.72/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$320.6K
$280.5K – $374.0K
NOI $22,441 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$259.3K
$226.9K – $302.5K
NOI $18,150 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$691.3K
$604.9K – $806.5K
NOI $48,390 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - All-brick duplex with two separately metered units, off-street parking, and an additional outbuilding.
Where is this duplex located?
The property is located at 1661 Story Ave Louisville, KY.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: All‑brick duplex built in 1875 with approx. 2,667 SF and 3rd full bath plus multiple bedrooms across two units; Two units with separate LG&E meters, including a first‑floor unit with flexible 2–3 bedroom and 2 full bath layout; Second‑floor unit offers a 1‑bedroom, 1‑bath layout
