Contemporary Duplex with Rooftop
For Sale
$595,000
415 Hancock Green Pl #101-201, Louisville, KY 40202
Two distinct residences include a garden-level unit and a three-story townhouse with private outdoor areas and garage parking.
Property Size3,234 SF
Days on Market27
Property Features for 415 Hancock Green Pl #101-201
General Information
Standard status
Active
Size
3,234 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Units
Unit Mix
1 x 2BR/1BA, 1 x 4BR/3.5BA
Multifamily Units
2
Amenities
patio
rooftop deck
fenced yard
EV charging outlet
Building Details
Building Size
3,234 SF
Year Built
2011
Units
2
Construction
contemporary
Listing Agency:
Semonin Realtors
(502) 655-0300
Listed By:
Susannah B Stevenson
(502) 655-0300
Source:
Demareeandhubbard
Added: Jul 16
Changed: Aug 9
Last Checked: Aug 11 at 2:47PM
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.
Built in 2011, this duplex combines a garden-level two-bedroom, one-bath residence with a three-story townhouse offering four bedrooms, three full baths, and one half bath. The lower unit features large windows, a front patio, and access to a fenced yard. The townhouse adds a rooftop deck with city views and a rear entry to the yard and garage.
The garage provides three parking bays and includes an electrical outlet prepared for hybrid-vehicle charging. Located at 415 Hancock Green Pl #101-201 in Louisville’s NuLu district, the property is near hospitals, Waterfront Park, shops, and restaurants.
The garage provides three parking bays and includes an electrical outlet prepared for hybrid-vehicle charging. Located at 415 Hancock Green Pl #101-201 in Louisville’s NuLu district, the property is near hospitals, Waterfront Park, shops, and restaurants.
Key Highlights
- Two‑unit property with a 2‑bedroom, 1‑bath garden‑level residence and a 4‑bedroom townhouse
- Three‑story townhouse includes 4 bedrooms, 3 full baths, and 1 half bath
- Rooftop deck provides city views
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
$27,212
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
4.57%
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%
$544,240
$544.2K
Cap Rate 7%
$388,743
$388.7K
Cap Rate 9%
$302,356
$302.4K
Market Conditions
NOI Build-Up for 3,234 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
$41.1K $12.72/SF
− Vacancy
−$2.3K −$0.70/SF
EGI
$38.9K $12.02/SF
− OpEx
−$11.7K −$3.61/SF
NOI
$27.2K $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%
$544,240
Cap Rate 7%
$388,743
Cap Rate 9%
$302,356
Alternative Uses
Best Use
Multifamily LT 5
$388.7K
$340.2K – $453.5K
NOI $27,212 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$314.4K
$275.1K – $366.8K
NOI $22,009 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$838.3K
$733.5K – $978.0K
NOI $58,678 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
7,639
Businesses Nearby
Explore this area
Business Placement
Demographics for 40202, KY
7,179
Population
4,242
Households
1.7
Avg Household Size
39
Median Age
27%
College-Educated
83%
High-School Grad
1.6 sq mi
ZIP Area
4,487
Density / Sq Mi
$29,382
Median Household Income
$33,205
Median Earnings
$881
Median Rent
$340,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences include a garden-level unit and a three-story townhouse with private outdoor areas and garage parking.
Where is this duplex located?
The property is located at 415 Hancock Green Pl #101-201 Louisville, KY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit property with a 2‑bedroom, 1‑bath garden‑level residence and a 4‑bedroom townhouse; Three‑story townhouse includes 4 bedrooms, 3 full baths, and 1 half bath; Rooftop deck provides city views
