Triplex with Hardwood
For Sale
$485,000
409 Fountain Ct, Louisville, KY 40208
The property features boiler heat and central air conditioning in the first-floor unit.
Property Size1,800 SF
Price / SF$269.44
Days on Market100
Property Features for 409 Fountain Ct
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Old Louisville
Additional Details
Multifamily Units
3
Building Details
Year Built
1926
Tenancy
Multi
Listing Agency:
Broadway Management Group
Listed By:
Jonathan L Schenkenfelder · License #220889
(502) 709-1693
Source:
Familyrealty
Added: Jul 21
Changed: Oct 26
Last Checked: Oct 7 at 5:10PM
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 Broadway Management Group
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Investment Insights
Based on property information with market context.
This three-unit residential income property at 409 Fountain Ct includes approximately 1,800 square feet and dates to 1926. Hardwood flooring extends throughout the building, while boiler heat serves the property. Central air conditioning is installed in the first-floor unit; the remaining two units do not have central AC.
The triplex is located in Old Louisville adjacent to St. James Court. Rent status is current for all residents. The property is offered as a three-unit configuration with differing HVAC features among the units.
The triplex is located in Old Louisville adjacent to St. James Court. Rent status is current for all residents. The property is offered as a three-unit configuration with differing HVAC features among the units.
Key Highlights
- Three‑unit property at 409 Fountain Ct in Louisville, KY 40208
- Approximately 1,800 square feet built in 1926
- Hardwood flooring throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,146
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,920
$302.9K
Cap Rate 7%
$216,371
$216.4K
Cap Rate 9%
$168,289
$168.3K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$22.9K $12.72/SF
− Vacancy
−$1.3K −$0.70/SF
EGI
$21.6K $12.02/SF
− OpEx
−$6.5K −$3.61/SF
NOI
$15.1K $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%
$302,920
Cap Rate 7%
$216,371
Cap Rate 9%
$168,289
Alternative Uses
Best Use
Multifamily LT 5
$216.4K
$189.3K – $252.4K
NOI $15,146 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$175.0K
$153.1K – $204.2K
NOI $12,250 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$466.6K
$408.2K – $544.3K
NOI $32,659 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,030
Businesses Nearby
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Business Placement
Demographics for 40208, KY
17,048
Population
6,675
Households
2.6
Avg Household Size
27
Median Age
34%
College-Educated
88%
High-School Grad
2.6 sq mi
ZIP Area
6,557
Density / Sq Mi
$37,714
Median Household Income
$17,255
Median Earnings
$914
Median Rent
$153,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - The property features boiler heat and central air conditioning in the first-floor unit.
Where is this triplex located?
The property is located at 409 Fountain Ct Louisville, KY.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Three‑unit property at 409 Fountain Ct in Louisville, KY 40208; Approximately 1,800 square feet built in 1926; Hardwood flooring throughout the property
