Duplex with Covered
New
For Sale
$545,000
2217 Grinstead Dr, Louisville, KY 40204
Multi Family, Louisville, KY
Property Size2,950 SF
Lot Size0.23 Acres
Price / SF$184.75
Days on Market2
Property Features for 2217 Grinstead Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Basement, Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 3
Patio and Porch features
Porch
Subdivision
CHEROKEE TRIANGLE
Lot features
Sidewalk
Directions
64 to Grinstead
Standard status
Active
APN
075C01480000
Size
2,950 SF
Lot size
0.23 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1911
Number of units
2
Building materials
Vinyl Siding, Wood Frame, Brick
Roof type
Asphalt, Shingle
Additional Structures
Outbuilding
Listing Agency:
Homepage Realty
(502) 690-6685
Listed By:
Kristy Barbour · License #240922
(502) 744-1131
Added: Oct 15
Last Checked: Oct 16 at 12:06PM
MLS# 1731920
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 2,950-square-foot duplex, built in 1911, contains two units. The first-floor residence has 2 bedrooms and 1 full bathroom; the second-floor residence has 3 bedrooms and 2 full bathrooms. Two tenants are in place. The property has two recently installed furnaces, central air conditioning, a porch, and a 4-car covered carport on a 0.23-acre lot.
At 2217 Grinstead Dr in Louisville, the property is near Cherokee Park, Seneca Golf Course, restaurants, boutiques, downtown Louisville, and the airport. Public water and sewer serve the property.
At 2217 Grinstead Dr in Louisville, the property is near Cherokee Park, Seneca Golf Course, restaurants, boutiques, downtown Louisville, and the airport. Public water and sewer serve the property.
Key Highlights
- Two units with 2,950 square feet total
- First‑floor unit: 2 bedrooms and 1 full bathroom; second‑floor unit: 3 bedrooms and 2 full bathrooms
- Two tenants currently occupy the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,822
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$496,440
$496.4K
Cap Rate 7%
$354,600
$354.6K
Cap Rate 9%
$275,800
$275.8K
Market Conditions
NOI Build-Up for 2,950 SF
Gross rent
$37.5K $12.72/SF
− Vacancy
−$2.1K −$0.70/SF
EGI
$35.5K $12.02/SF
− OpEx
−$10.6K −$3.61/SF
NOI
$24.8K $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 Rate 5%
$496,440
Cap Rate 7%
$354,600
Cap Rate 9%
$275,800
Alternative Uses
Best Use
Multifamily LT 5
$354.6K
$310.3K – $413.7K
NOI $24,822 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$286.8K
$251.0K – $334.6K
NOI $20,076 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$764.6K
$669.1K – $892.1K
NOI $53,525 @ 7.0% cap · market cap 9.82%
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
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,173
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
Frequently Asked Questions
What type of property is this?
Duplex - Two tenant-occupied units have distinct bedroom and bathroom layouts, supporting separate household arrangements.
Where is this duplex located?
The property is located at 2217 Grinstead Dr Louisville, KY.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Two units with 2,950 square feet total; First‑floor unit: 2 bedrooms and 1 full bathroom; second‑floor unit: 3 bedrooms and 2 full bathrooms; Two tenants currently occupy the property
