Duplex With Remodeled
New
For Sale
$210,000
2826 W Chestnut St, Louisville, KY 40211
Two residential units offer flexible multi-level layouts, open living areas, laundry hookups, and basement storage potential.
Property Size2,800 SF
Price / SF$75
Days on Market4
Property Features for 2826 W Chestnut St
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
washer-dryer hookups
extra storage potential in basement
Building Details
Year Built
1900
Buildings
1
Tenancy
Single
Listing Agency:
United Real Estate Louisville
Listed By:
Teresa Armstrong · License #260860
(502) 220-3854
Source:
Familyrealty
Added: Sep 12
Last Checked: Sep 14 at 4:29PM
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 United Real Estate Louisville
Investment Insights
Based on property information with market context.
Built in 1900, this 2,800-square-foot duplex contains a four-bedroom, one-bath residence and a two-bedroom, one-bath residence. The larger unit extends across three levels, while the smaller unit occupies two levels. Both include open living and dining areas, washer-dryer hookups, and additional storage potential in the basement. Each bathroom has been remodeled.
The property has a 4-year-old roof and new HVAC units. One unit is tenant-occupied on a month-to-month lease, while the owner occupies the other, creating a mixed occupancy arrangement for the next owner. The front unit is currently rented by the room. Located near downtown Louisville, shopping, dining, and major roadways, the duplex also requires 48-hour notice for tenant-related access.
The property has a 4-year-old roof and new HVAC units. One unit is tenant-occupied on a month-to-month lease, while the owner occupies the other, creating a mixed occupancy arrangement for the next owner. The front unit is currently rented by the room. Located near downtown Louisville, shopping, dining, and major roadways, the duplex also requires 48-hour notice for tenant-related access.
Key Highlights
- 2,800‑square‑foot duplex with two residential units
- Unit mix includes 4 bedrooms and 1 bath, plus 2 bedrooms and 1 bath
- Four‑bedroom unit spans 3 levels; two‑bedroom unit uses a 2‑level layout
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
$19,055
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
9.07%
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%
$381,100
$381.1K
Cap Rate 7%
$272,214
$272.2K
Cap Rate 9%
$211,722
$211.7K
Market Conditions
NOI Build-Up for 2,800 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
$36.6K $13.08/SF
− Vacancy
−$2.0K −$0.71/SF
EGI
$34.6K $12.37/SF
− OpEx
−$15.6K −$5.57/SF
NOI
$19.1K $6.81/SF
Area
Louisville, KY
Vacancy
5.40%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
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%
$381,100
Cap Rate 7%
$272,214
Cap Rate 9%
$211,722
Alternative Uses
Best Use
Multifamily LT 5
$336.6K
$294.5K – $392.7K
NOI $23,560 @ 7.0% cap · market cap 11.22%
Second Best
Apartment 5plus
$272.2K
$238.2K – $317.6K
NOI $19,055 @ 7.0% cap · market cap 9.07%
Theoretical Best
Office A
$725.8K
$635.0K – $846.7K
NOI $50,803 @ 7.0% cap · market cap 24.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
Explore this area
Business Placement
Demographics for 40211, KY
21,310
Population
11,450
Households
1.9
Avg Household Size
37
Median Age
11%
College-Educated
86%
High-School Grad
7.3 sq mi
ZIP Area
2,919
Density / Sq Mi
$32,598
Median Household Income
$28,245
Median Earnings
$925
Median Rent
$97,900
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer flexible multi-level layouts, open living areas, laundry hookups, and basement storage potential.
Where is this duplex located?
The property is located at 2826 W Chestnut St Louisville, KY.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 2,800‑square‑foot duplex with two residential units; Unit mix includes 4 bedrooms and 1 bath, plus 2 bedrooms and 1 bath; Four‑bedroom unit spans 3 levels; two‑bedroom unit uses a 2‑level layout
