Updated Two-Unit
For Sale
$175,000
4141 W Market St, Louisville, KY 40212
Both residences feature refreshed interiors, kitchens, living areas, and generous closet storage.
Property Size1,543 SF
Price / SF$113.42
Days on Market19
Property Features for 4141 W Market St
General Information
Standard status
Active
Size
1,543 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Homepage Realty
Listed By:
Rebecca L O'Toole
(502) 974-0510
Source:
Familyrealty
Added: Aug 15
Changed: Aug 30
Last Checked: Sep 1 at 8:41PM
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 Homepage Realty
Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains two separate residences, each configured with two bedrooms and one bathroom. Both units have been updated and include practical living areas, kitchens, and ample closet storage.
The property is fully leased to long-term tenants, offering an established occupancy profile for an investor. Its two-unit layout provides a straightforward residential income property configuration in Louisville.
The property is fully leased to long-term tenants, offering an established occupancy profile for an investor. Its two-unit layout provides a straightforward residential income property configuration in Louisville.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- Both residences have received updates
- Fully rented to long‑term tenants
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
$12,983
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
7.42%
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%
$259,660
$259.7K
Cap Rate 7%
$185,471
$185.5K
Cap Rate 9%
$144,256
$144.3K
Market Conditions
NOI Build-Up for 1,543 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
$19.6K $12.72/SF
− Vacancy
−$1.1K −$0.70/SF
EGI
$18.5K $12.02/SF
− OpEx
−$5.6K −$3.61/SF
NOI
$13.0K $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 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%
$259,660
Cap Rate 7%
$185,471
Cap Rate 9%
$144,256
Alternative Uses
Best Use
Multifamily LT 5
$185.5K
$162.3K – $216.4K
NOI $12,983 @ 7.0% cap · market cap 7.42%
Second Best
Apartment 5plus
$150.0K
$131.3K – $175.0K
NOI $10,501 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$399.9K
$350.0K – $466.6K
NOI $27,996 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 40212, KY
16,360
Population
8,061
Households
2
Avg Household Size
38
Median Age
13%
College-Educated
81%
High-School Grad
3.8 sq mi
ZIP Area
4,305
Density / Sq Mi
$35,389
Median Household Income
$28,506
Median Earnings
$917
Median Rent
$78,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature refreshed interiors, kitchens, living areas, and generous closet storage.
Where is this duplex located?
The property is located at 4141 W Market St Louisville, KY.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; Both residences have received updates; Fully rented to long‑term tenants
