Renovated Duplex with Basement
For Sale
$310,000
2416 Bradley Ave, Louisville, KY 40217
Renovated two-unit property with updated interiors, basement storage, a garage, and flexible parking options.
Property Size1,867 SF
Price / SF$166.04
Days on Market12
Property Features for 2416 Bradley Ave
General Information
Standard status
Active
Size
1,867 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
basement storage
laundry hookups
fenced backyard
Building Details
Year Built
1939
Year Renovated
2024
Buildings
1
Listing Agency:
Kentucky Select Properties
(502) 271-5000
Listed By:
Tamara A Carpanini
Source:
Familyrealty
Added: Aug 18
Changed: Aug 29
Last Checked: Aug 25 at 4:32AM
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 Kentucky Select Properties
Investment Insights
Based on property information with market context.
Renovated in 2024, this 1,867 SF duplex contains two residential units, each with 2 bedrooms, 1 full bathroom, an updated kitchen and bathroom, LVP flooring, and an open living layout. Both units connect to an unfinished basement with secured access, locked storage closets, and multiple washer and dryer hookups.
Recent work includes a new roof, one new HVAC system, added second-story insulation, basement dry locking, wall removal, and replacement windows. Exterior features include a partially fenced backyard, driveway parking, street parking, and a one-car garage.
The property is located near UofL, Germantown, the Highlands, and downtown Louisville, providing access to several established Louisville destinations. Its two-unit configuration supports use as an owner-occupied duplex or an investment property.
Recent work includes a new roof, one new HVAC system, added second-story insulation, basement dry locking, wall removal, and replacement windows. Exterior features include a partially fenced backyard, driveway parking, street parking, and a one-car garage.
The property is located near UofL, Germantown, the Highlands, and downtown Louisville, providing access to several established Louisville destinations. Its two-unit configuration supports use as an owner-occupied duplex or an investment property.
Key Highlights
- Renovated in 2024 with a new roof and one new HVAC system
- Two units, each with 2 bedrooms, 1 full bath, updated kitchens and bathrooms, LVP flooring, and open‑concept living areas
- 1,867 SF duplex with unfinished basement access from both units
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
$15,709
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
5.07%
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%
$314,180
$314.2K
Cap Rate 7%
$224,414
$224.4K
Cap Rate 9%
$174,544
$174.5K
Market Conditions
NOI Build-Up for 1,867 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
$23.7K $12.72/SF
− Vacancy
−$1.3K −$0.70/SF
EGI
$22.4K $12.02/SF
− OpEx
−$6.7K −$3.61/SF
NOI
$15.7K $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%
$314,180
Cap Rate 7%
$224,414
Cap Rate 9%
$174,544
Alternative Uses
Best Use
Multifamily LT 5
$224.4K
$196.4K – $261.8K
NOI $15,709 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$181.5K
$158.8K – $211.8K
NOI $12,706 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$483.9K
$423.4K – $564.6K
NOI $33,875 @ 7.0% cap · market cap 10.93%
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
647
Businesses Nearby
Explore this area
Business Placement
Demographics for 40217, KY
13,061
Population
6,840
Households
1.9
Avg Household Size
36
Median Age
48%
College-Educated
95%
High-School Grad
2.4 sq mi
ZIP Area
5,442
Density / Sq Mi
$68,573
Median Household Income
$48,298
Median Earnings
$1,150
Median Rent
$220,700
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 - Renovated two-unit property with updated interiors, basement storage, a garage, and flexible parking options.
Where is this duplex located?
The property is located at 2416 Bradley Ave Louisville, KY.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Renovated in 2024 with a new roof and one new HVAC system; Two units, each with 2 bedrooms, 1 full bath, updated kitchens and bathrooms, LVP flooring, and open‑concept living areas; 1,867 SF duplex with unfinished basement access from both units
