Renovated Brick
For Sale
$575,000
405 Macon Ave, Louisville, KY 40207
Two residences feature updated kitchens and baths, hardwood floors, semi-private decks, and separate utilities.
Property Size3,528 SF
Price / SF$162.98
Days on Market76
Property Features for 405 Macon Ave
General Information
Standard status
Active
Size
3,528 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
hardwood flooring
fireplace
updated kitchen and bath
in unit laundry
partially finished basement
semi-private deck
garage parking
Building Details
Year Built
1942
Buildings
1
Construction
brick
Listing Agency:
Semonin Realtors
Listed By:
Nathan G Bellows
(502) 214-0353
Source:
Familyrealty
Added: Jul 30
Changed: Oct 13
Last Checked: Oct 7 at 3:17PM
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 Semonin Realtors
Investment Insights
Based on property information with market context.
This 1942 brick duplex at 405 Macon Ave includes two residences totaling 3,528 square feet. The first unit has 2 bedrooms and 1 full bath, along with hardwood floors, a fireplace, an updated kitchen and bathroom, in-unit laundry, a partially finished basement, a semi-private deck, and garage parking. The second unit provides 3 bedrooms and 2 full baths, including a first-floor bedroom and laundry, plus updated kitchens and baths, hardwood flooring, a fireplace, a partially finished basement, a semi-private deck, and garage parking.
Separate utilities support distinct operation between the units. The property is in St. Matthews with access to restaurants, shopping, parks, hospitals, and downtown Louisville.
Separate utilities support distinct operation between the units. The property is in St. Matthews with access to restaurants, shopping, parks, hospitals, and downtown Louisville.
Key Highlights
- Two‑unit duplex totaling 3,528 square feet
- Unit mix includes 2 bedrooms/1 full bath and 3 bedrooms/2 full baths
- Updated kitchens and baths with hardwood flooring in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,686
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,720
$593.7K
Cap Rate 7%
$424,086
$424.1K
Cap Rate 9%
$329,844
$329.8K
Market Conditions
NOI Build-Up for 3,528 SF
Gross rent
$44.9K $12.72/SF
− Vacancy
−$2.5K −$0.70/SF
EGI
$42.4K $12.02/SF
− OpEx
−$12.7K −$3.61/SF
NOI
$29.7K $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 Rate 5%
$593,720
Cap Rate 7%
$424,086
Cap Rate 9%
$329,844
Alternative Uses
Best Use
Multifamily LT 5
$424.1K
$371.1K – $494.8K
NOI $29,686 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$343.0K
$300.1K – $400.2K
NOI $24,010 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$914.5K
$800.2K – $1.07M
NOI $64,012 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,389
Businesses Nearby
Explore this area
Business Placement
Demographics for 40207, KY
30,104
Population
14,507
Households
2.1
Avg Household Size
43
Median Age
68%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
2,573
Density / Sq Mi
$98,583
Median Household Income
$59,242
Median Earnings
$1,248
Median Rent
$401,500
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 residences feature updated kitchens and baths, hardwood floors, semi-private decks, and separate utilities.
Where is this duplex located?
The property is located at 405 Macon Ave Louisville, KY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,528 square feet; Unit mix includes 2 bedrooms/1 full bath and 3 bedrooms/2 full baths; Updated kitchens and baths with hardwood flooring in both residences
