Renovated Duplex with
New
For Sale
$325,000
2416 Bradley Ave, Louisville, KY 40217
MULTI_FAMILY - Louisville, KY
Property Size1,867 SF
Price / SF$174.08
Days on Market6
Property Features for 2416 Bradley Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Dining Room, Basement, Bedroom 2
Patio and Porch features
Deck
Subdivision
PARKWAY TERRACE
Directions
Eastern Pkwy, left on Bradley, home on right
Standard status
Active
APN
13083A02420000
Size
1,867 SF
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1939
Number of units
2
Building materials
Brick
Roof type
Shingle
Listing Agency:
Kentucky Select Properties
(502) 271-5000
Listed By:
Tamara A Carpanini
(502) 271-5000
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 11 at 7:06PM
MLS# 1725522
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.
Investment Insights
Based on property information with market context.
This 1,867-square-foot duplex contains two residential units, each arranged with two bedrooms, one full bathroom, an updated kitchen and bathroom, LVP flooring, and an open living area. Completed improvements in 2024 include a new roof, one new HVAC system, additional second-story insulation, basement dry locking, replacement windows, and selective wall reconstruction. The property was built in 1939 with brick construction, shingle roofing, forced-air natural gas heat, and central air conditioning.
Both units have secured access to the unfinished basement, which includes locked storage closets and multiple washer and dryer hookups. Exterior features include a partially fenced backyard, deck, driveway parking, street parking, and a one-car garage. Public water and public sewer serve the property. Its Louisville setting places it near UofL, Germantown, the Highlands, and downtown Louisville.
Both units have secured access to the unfinished basement, which includes locked storage closets and multiple washer and dryer hookups. Exterior features include a partially fenced backyard, deck, driveway parking, street parking, and a one-car garage. Public water and public sewer serve the property. Its Louisville setting places it near UofL, Germantown, the Highlands, and downtown Louisville.
Key Highlights
- 1,867 SF duplex with two residential units
- Each unit includes 2 bedrooms, 1 full bathroom, an updated kitchen and bathroom, and LVP flooring
- 2024 improvements include a new roof, one new HVAC system, insulation, windows, and basement dry locking
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
4.83%
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 4.83%
Second Best
Apartment 5plus
$181.5K
$158.8K – $211.8K
NOI $12,706 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$483.9K
$423.4K – $564.6K
NOI $33,875 @ 7.0% cap · market cap 10.42%
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 - Two-unit residential property with updated interiors, private storage areas, and a one-car garage.
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 $325,000.
What are key features of this property?
This property features: 1,867 SF duplex with two residential units; Each unit includes 2 bedrooms, 1 full bathroom, an updated kitchen and bathroom, and LVP flooring; 2024 improvements include a new roof, one new HVAC system, insulation, windows, and basement dry locking
