Renovated Duplex with
For Sale
$415,000
307 S Hite Ave, Louisville, KY 40206
Two two-bedroom units feature eat-in kitchens, separate utility meters, and access to a wooded rear yard.
Property Size1,716 SF
Price / SF$241.84
Days on Market52
Property Features for 307 S Hite Ave
General Information
Standard status
Active
Size
1,716 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
deck
laundry room
Building Details
Year Built
1961
Buildings
1
Construction
brick
Listing Agency:
Tassie Parker Properties
Listed By:
T. Tassie Parker
(502) 807-0177
Source:
Familyrealty
Added: Aug 21
Changed: Oct 7
Last Checked: Oct 9 at 8:38PM
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 Tassie Parker Properties
Investment Insights
Based on property information with market context.
This duplex contains two renovated units, each with two bedrooms, a large living room, and an eat-in kitchen. Both residences include a deck overlooking the wooded backyard. One unit is fully furnished, and both are currently rented with established rental history.
The walkout basement is presently configured for storage and laundry. It is framed, partially drywalled, and has most electrical and plumbing work completed. Separate gas, water, and electric meters serve the units. The exterior features maintenance-free brick construction with vinyl soffits.
The walkout basement is presently configured for storage and laundry. It is framed, partially drywalled, and has most electrical and plumbing work completed. Separate gas, water, and electric meters serve the units. The exterior features maintenance-free brick construction with vinyl soffits.
Key Highlights
- Two renovated units, each with 2 bedrooms
- Large living rooms and eat‑in kitchens in both units
- Private decks overlook the wooded backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,439
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,780
$288.8K
Cap Rate 7%
$206,271
$206.3K
Cap Rate 9%
$160,433
$160.4K
Market Conditions
NOI Build-Up for 1,716 SF
Gross rent
$21.8K $12.72/SF
− Vacancy
−$1.2K −$0.70/SF
EGI
$20.6K $12.02/SF
− OpEx
−$6.2K −$3.61/SF
NOI
$14.4K $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%
$288,780
Cap Rate 7%
$206,271
Cap Rate 9%
$160,433
Alternative Uses
Best Use
Multifamily LT 5
$206.3K
$180.5K – $240.7K
NOI $14,439 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$166.8K
$146.0K – $194.6K
NOI $11,678 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$444.8K
$389.2K – $518.9K
NOI $31,135 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
542
Businesses Nearby
Explore this area
Business Placement
Demographics for 40206, KY
20,196
Population
11,637
Households
1.7
Avg Household Size
38
Median Age
55%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,482
Density / Sq Mi
$72,543
Median Household Income
$48,506
Median Earnings
$1,142
Median Rent
$276,100
Median Home Value
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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 two-bedroom units feature eat-in kitchens, separate utility meters, and access to a wooded rear yard.
Where is this duplex located?
The property is located at 307 S Hite Ave Louisville, KY.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two renovated units, each with 2 bedrooms; Large living rooms and eat‑in kitchens in both units; Private decks overlook the wooded backyard
