Duplex with Rear Parking
For Sale
$360,000
2312 Dundee Rd, Louisville, KY 40205
Two self-contained units offer in-unit laundry and private outdoor areas.
Property Size2,085 SF
Days on Market18
Property Features for 2312 Dundee Rd
General Information
Standard status
Active
Size
2,085 SF
Property subtype
Multi Family Home
Amenities
covered front balcony
patio
private rear deck
rear balcony
in-unit laundry
Building Details
Building Size
2,085 SF
Year Built
1915
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
RE/MAX Premier Properties
(502) 384-5944
Listed By:
Kevin W Lewis · License #239746
Source:
Demareeandhubbard
Added: Jul 20
Changed: Aug 2
Last Checked: Aug 5 at 1:01PM
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 RE/MAX Premier Properties
Investment Insights
Based on property information with market context.
Built in 1915, this Louisville duplex contains two separately arranged residences with hardwood flooring throughout. The lower-level unit includes 2 bedrooms, 1 full bath, a kitchen, in-unit laundry, and a private rear deck. Upstairs, the second residence provides a flexible 2- or 3-bedroom layout with 1 full bath, kitchen, in-unit laundry, and a rear balcony.
The exterior combines a stone façade, arched architectural details, and covered front outdoor space. A rear parking pad provides off-street parking for the property. Located on Dundee Rd in Louisville’s Highlands area, the duplex offers distinct interior and exterior features across both units.
The exterior combines a stone façade, arched architectural details, and covered front outdoor space. A rear parking pad provides off-street parking for the property. Located on Dundee Rd in Louisville’s Highlands area, the duplex offers distinct interior and exterior features across both units.
Key Highlights
- Two‑unit duplex built in 1915
- First‑floor unit includes 2 bedrooms, 1 full bath, kitchen, laundry, and private rear deck
- Second‑floor unit offers a 2- or 3‑bedroom layout with 1 full bath
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
$17,544
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
4.87%
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%
$350,880
$350.9K
Cap Rate 7%
$250,629
$250.6K
Cap Rate 9%
$194,933
$194.9K
Market Conditions
NOI Build-Up for 2,085 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
$26.5K $12.72/SF
− Vacancy
−$1.5K −$0.70/SF
EGI
$25.1K $12.02/SF
− OpEx
−$7.5K −$3.61/SF
NOI
$17.5K $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 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%
$350,880
Cap Rate 7%
$250,629
Cap Rate 9%
$194,933
Alternative Uses
Best Use
Multifamily LT 5
$250.6K
$219.3K – $292.4K
NOI $17,544 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$202.7K
$177.4K – $236.5K
NOI $14,190 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$540.4K
$472.9K – $630.5K
NOI $37,830 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Explore this area
Business Placement
Demographics for 40205, KY
24,077
Population
11,021
Households
2.2
Avg Household Size
43
Median Age
65%
College-Educated
97%
High-School Grad
6.9 sq mi
ZIP Area
3,489
Density / Sq Mi
$98,990
Median Household Income
$54,604
Median Earnings
$1,095
Median Rent
$361,900
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 self-contained units offer in-unit laundry and private outdoor areas.
Where is this duplex located?
The property is located at 2312 Dundee Rd Louisville, KY.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1915; First‑floor unit includes 2 bedrooms, 1 full bath, kitchen, laundry, and private rear deck; Second‑floor unit offers a 2- or 3‑bedroom layout with 1 full bath
