Duplex with New
For Sale
$190,000
1700 Bolling Ave, Louisville, KY 40210
Two-unit residential property with four bedrooms per unit and recently replaced roof and gutters.
Property Size2,563 SF
Price / SF$74.13
Days on Market43
Property Features for 1700 Bolling Ave
General Information
Standard status
Active
Size
2,563 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Covenant Realty LLC
(502) 931-9749
Listed By:
Linda Green
Source:
Familyrealty
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 31 at 7:40PM
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 Covenant Realty LLC
Investment Insights
Based on property information with market context.
Located at 1700 Bolling Ave in Louisville, this duplex contains two residential units, each offering four bedrooms. The property was built in 1920 and has a new roof and gutters, providing updated exterior improvements for the building.
Key Highlights
- Two‑unit duplex with 4 bedrooms in each unit
- New roof and gutters
- Built in 1920
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
$17,443
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
9.18%
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%
$348,860
$348.9K
Cap Rate 7%
$249,186
$249.2K
Cap Rate 9%
$193,811
$193.8K
Market Conditions
NOI Build-Up for 2,563 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
$33.5K $13.08/SF
− Vacancy
−$1.8K −$0.71/SF
EGI
$31.7K $12.37/SF
− OpEx
−$14.3K −$5.57/SF
NOI
$17.4K $6.81/SF
Area
Louisville, KY
Vacancy
5.40%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
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%
$348,860
Cap Rate 7%
$249,186
Cap Rate 9%
$193,811
Alternative Uses
Best Use
Multifamily LT 5
$308.1K
$269.6K – $359.4K
NOI $21,566 @ 7.0% cap · market cap 11.35%
Second Best
Apartment 5plus
$249.2K
$218.0K – $290.7K
NOI $17,443 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$664.3K
$581.3K – $775.1K
NOI $46,503 @ 7.0% cap · market cap 24.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Explore this area
Business Placement
Demographics for 40210, KY
14,418
Population
7,137
Households
2
Avg Household Size
36
Median Age
10%
College-Educated
81%
High-School Grad
3.2 sq mi
ZIP Area
4,506
Density / Sq Mi
$35,841
Median Household Income
$23,881
Median Earnings
$822
Median Rent
$93,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with four bedrooms per unit and recently replaced roof and gutters.
Where is this duplex located?
The property is located at 1700 Bolling Ave Louisville, KY.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Two‑unit duplex with 4 bedrooms in each unit; New roof and gutters; Built in 1920
