Two-Home Duplex
For Sale
$240,000
3011 Blevins Gap Rd, Louisville, KY 40272
Separate three-bedroom residences provide immediate occupancy in one home and renovation potential in the other.
Property Size2,210 SF
Price / SF$108.60
Days on Market57
Property Features for 3011 Blevins Gap Rd
General Information
Standard status
Active
Size
2,210 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
value-add opportunity for renovation
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Buildings
2
Listing Agency:
EXP Realty LLC
(888) 624-6448
Listed By:
John R Ward · License #113675
(502) 524-8323
Source:
Exprealty
Added: Aug 19
Changed: Oct 6
Last Checked: Oct 13 at 12:51AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
Built in 1950, this duplex property includes two separate homes on a single parcel. Each residence offers three bedrooms and one bathroom, creating a two-home configuration with distinct living spaces.
The primary residence contains 1,020 square feet and is move-in ready for immediate occupancy. The second home requires renovation, providing an additional residential space that can be improved for future use. The property contains 2,210 square feet overall and is located at 3011 Blevins Gap Rd in Louisville, Kentucky.
The primary residence contains 1,020 square feet and is move-in ready for immediate occupancy. The second home requires renovation, providing an additional residential space that can be improved for future use. The property contains 2,210 square feet overall and is located at 3011 Blevins Gap Rd in Louisville, Kentucky.
Key Highlights
- Two separate 3‑bedroom, 1‑bath homes on one parcel
- Main residence measures 1,020 square feet and is move‑in ready
- Second residence offers a renovation opportunity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,596
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,920
$371.9K
Cap Rate 7%
$265,657
$265.7K
Cap Rate 9%
$206,622
$206.6K
Market Conditions
NOI Build-Up for 2,210 SF
Gross rent
$28.1K $12.72/SF
− Vacancy
−$1.5K −$0.70/SF
EGI
$26.6K $12.02/SF
− OpEx
−$8.0K −$3.61/SF
NOI
$18.6K $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%
$371,920
Cap Rate 7%
$265,657
Cap Rate 9%
$206,622
Alternative Uses
Best Use
Multifamily LT 5
$265.7K
$232.5K – $309.9K
NOI $18,596 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$214.9K
$188.0K – $250.7K
NOI $15,040 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$572.8K
$501.2K – $668.3K
NOI $40,098 @ 7.0% cap · market cap 16.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 40272, KY
37,747
Population
15,469
Households
2.4
Avg Household Size
39
Median Age
19%
College-Educated
90%
High-School Grad
33.3 sq mi
ZIP Area
1,134
Density / Sq Mi
$66,382
Median Household Income
$37,644
Median Earnings
$1,147
Median Rent
$169,700
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
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Frequently Asked Questions
What type of property is this?
Duplex - Separate three-bedroom residences provide immediate occupancy in one home and renovation potential in the other.
Where is this duplex located?
The property is located at 3011 Blevins Gap Rd Louisville, KY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two separate 3‑bedroom, 1‑bath homes on one parcel; Main residence measures 1,020 square feet and is move‑in ready; Second residence offers a renovation opportunity
