Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Louisville Property: Single/Duplex Title is generated by Realmo AI

    204 E Florence Ave, Louisville, KY 40209

    View on Map
    Claim this Listing
    New
    For Sale
    $169,998

    MULTI_FAMILY - Ranch - Louisville, KY

    Type:Single Family Residence
    Property size:
    1,140 SF
    Price / SF:
    $149/SF
    Added:
    May 22, 2026
    Days on Market:
    7
    Last Refresh:
    May 28 at 6:06 am

    Property Features for 204 E Florence Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Bedrooms
    2
    Bathrooms
    2
    Rooms
    Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1
    Standard status
    Active
    APN
    12057B00540000
    Size
    1,140 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1918
    Number of units
    2
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Todd A Weihe

    Listing agent Todd A Weihe

    Listing office DREAM J P Pirtle REALTORS 8219 Shelbyville Road, louisville, KY

    Listing date May 22, 2026

    MLS# 1718312 Listing URL

    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.

    HighLights

    • Potential for single‑family home or duplex conversion.
    • Two kitchens, offering flexibility for multi‑generational living or rental income.
    • Recent updates include newer paint, flooring, and fixtures.
    • Enjoy the comfort of central air conditioning.
    • Natural gas heating.
    • Low‑maintenance vinyl siding.

    Overview

    This property in Louisville, Kentucky, presents a versatile opportunity for owner-occupiers, flippers, and landlords. It can function as either a single-family house or a duplex. Currently configured more as a single-family home, it features two large bedrooms, two family rooms, and two kitchens. The home includes newer paint, flooring, and fixtures. It could suit a family with in-laws or others sharing a home. The property is situated on a nice street and includes a yard. The seller is a licensed real estate broker who buys, sells, and rents real estate. The property size is 1140 square feet.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $106.6K
    NOI $9,592 @ 9.00% cap · cautious / downside scenario
    Moderate
    $137.0K
    NOI $9,592 @ 7.00% cap · market / base-case scenario
    Aggressive
    $191.8K
    NOI $9,592 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $14.5k $12.72
    − Vacancy −$798 −$0.70
    EGI $13.7k $12.02
    − OpEx −$4.1k −$3.61
    NOI $9.6k $8.41
    1,140 SF · lease $12.72/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $137.0K
    $119.9K – $159.9K (±1% cap)
    NOI $9,592 @ 7.0% cap · market cap 5.64%
    Second Best
    Apartment 5plus
    $110.8K
    $97.0K – $129.3K (±1% cap)
    NOI $7,758 @ 7.0% cap · market cap 4.56%
    Theoretical Best
    Office A
    $295.5K
    $258.6K – $344.7K (±1% cap)
    NOI $20,684 @ 7.0% cap · market cap 12.17%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Louisville
    County
    Jefferson
    State
    Kentucky
    Longitude
    -85.759161
    Latitude
    38.191352

    Nearby Similar for Sale

    • $799,000
      5,200 SF

      Highlands Four-Plex Investment Opportunity

      Four-plex in Louisville's Highlands neighborhood, ideal for investors/owner-occupants.
      2114 Bonnycastle Ave, Louisville, KY 40205
      View Details
    • $998,000

      Turnkey Restaurant on Preston Highway

      Fully equipped restaurant for sale in Louisville, Kentucky.
      7508 Preston Highway, Louisville, KY 40219
      View Details
    • $998,000

      Turnkey Restaurant on Preston Highway

      Fully equipped restaurant for sale in Louisville, Kentucky.
      7508 Preston Highway, Louisville, KY 40219
      View Details
    • $520,000

      Louisville Retail Property For Sale

      Retail property in high-traffic area, generating monthly income.
      3958 Cane Run Road, Louisville, KY 40211
      View Details
    • $349,900

      Louisville Commercial Redevelopment Opportunity

      Versatile commercial property with redevelopment potential in Louisville's Opportunity Zone.
      2114 W Market Street, Louisville, KY 40212
      View Details
    • $349,900

      Louisville Commercial Redevelopment Opportunity

      Three-story commercial property with redevelopment potential in Louisville's Opportunity Zone.
      2114 W Market Street, Louisville, KY 40212
      View Details
    • $1,100,000
      6,909 SF

      Highlands Multifamily Investment Opportunity

      Turnkey investment property with high income in Louisville, Kentucky.
      1646 Beechwood Ave, Louisville, KY 40204
      View Details
    • $775,000
      5,611 SF

      Historic Multi-Family St. James Court

      Unique six-unit building in Louisville's historic district.
      1424 Saint James Ct, Louisville, KY 40208
      View Details
    • $900,000
      5,590 SF

      Victorian Triplex in Crescent Hill

      Income-producing 9-bedroom triplex with historic charm and modern updates.
      104 S Birchwood Ave, Louisville, KY 40206
      View Details
    • $589,000
      3,575 SF

      Versatile Commercial Building with Apartment

      3,571 SF commercial building with apartment in high-visibility location.
      8107 Blue Lick Rd, Louisville, KY 40219
      View Details
    • $399,900
      2,520 SF

      Crescent Hill Value-Add Triplex

      Louisville triplex with rental upside in high-barrier Crescent Hill.
      2332 Sycamore Ave, Louisville, KY 40206
      View Details
    • $525,000
      3,400 SF

      Cherokee Triangle Turnkey Triplex

      Well-maintained triplex with strong income in a desirable location.
      2124 Longest Ave, Louisville, KY 40204
      View Details

    FAQs

    What type of property is this?
    Duplex - Convertible single-family/duplex in Louisville, ideal for various buyers.
    Where is this duplex located?
    The property is located at 204 E Florence Ave Louisville, KY.
    What is the asking price?
    The asking price for this property is $169,998.
    What are key features of this property?
    This property features: Potential for single‑family home or duplex conversion.; Two kitchens, offering flexibility for multi‑generational living or rental income.; Recent updates include newer paint, flooring, and fixtures.
    (502) 458-2722
    We can help!
    Listing Contact
    Todd A Weihe
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    204 E Florence Ave, Louisville, KY 40209
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!