2-Unit Duplex with Separate
For Sale
$184,900
214 W Collins Ct, Louisville, KY 40214
Multi Family, Louisville, KY
Property Size1,920 SF
Lot Size0.15 Acres
Price / SF$96.30
Days on Market29
Property Features for 214 W Collins Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
Patio and Porch features
Deck
Subdivision
WILDER PARK
Directions
Southern Parkway to Collins Court, home on Right between 3rd and 2nd Streets
Standard status
Active
APN
12055E00620000
Size
1,920 SF
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
laundry hookups
deck
walk-in closets
Building Details
Year built
1900
Number of units
2
Building materials
Wood Frame, Aluminum Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX Premier Properties · RE/MAX International
Listed By:
Matthew Hoagland
(502) 384-5944
Added: Sep 22
Changed: Oct 19
Last Checked: Oct 20 at 12:06AM
MLS# 1729815
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.
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Investment Insights
Based on property information with market context.
This 1,920-square-foot duplex contains two 1-bedroom, 1-bathroom units of approximately 960 square feet apiece. Each has laundry hookups, a separate electric meter and panel, its own furnace, and central air conditioning. Water is shared on one meter, with the cost divided evenly between tenants. The property also includes a large front deck, two smaller rear decks, a rear yard, and a shingle roof reported to be approximately 3 years old.
The duplex is near the University of Louisville, Churchill Downs, and expressways. The 0.15-acre parcel has public water and sewer service. One unit is vacant for showings; access to the occupied unit is subject to arrangement so the tenant is not disturbed.
The duplex is near the University of Louisville, Churchill Downs, and expressways. The 0.15-acre parcel has public water and sewer service. One unit is vacant for showings; access to the occupied unit is subject to arrangement so the tenant is not disturbed.
Key Highlights
- Two 1‑bedroom, 1‑bathroom units, approximately 960 square feet each
- Separate electric meters, panels, and furnaces; central air in each unit
- Laundry hookups and walk‑in closets in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,813
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,260
$336.3K
Cap Rate 7%
$240,186
$240.2K
Cap Rate 9%
$186,811
$186.8K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$33.4K $17.40/SF
− Vacancy
−$2.8K −$1.48/SF
EGI
$30.6K $15.92/SF
− OpEx
−$13.8K −$7.16/SF
NOI
$16.8K $8.76/SF
Area
ZIP 40214
Vacancy
8.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,260
Cap Rate 7%
$240,186
Cap Rate 9%
$186,811
Alternative Uses
Best Use
Multifamily LT 5
$264.8K
$231.7K – $308.9K
NOI $18,533 @ 7.0% cap · market cap 10.02%
Second Best
Apartment 5plus
$240.2K
$210.2K – $280.2K
NOI $16,813 @ 7.0% cap · market cap 9.09%
Theoretical Best
Office A
$460.1K
$402.6K – $536.7K
NOI $32,204 @ 7.0% cap · market cap 17.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 40214, KY
46,220
Population
20,459
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
85%
High-School Grad
15.0 sq mi
ZIP Area
3,081
Density / Sq Mi
$53,563
Median Household Income
$37,121
Median Earnings
$950
Median Rent
$176,700
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
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a private deck, walk-in closets, and laundry hookups.
Where is this duplex located?
The property is located at 214 W Collins Ct Louisville, KY.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bathroom units, approximately 960 square feet each; Separate electric meters, panels, and furnaces; central air in each unit; Laundry hookups and walk‑in closets in both units
