Remodeled
For Sale
$335,000
469 E Brandeis Ave, Louisville, KY 40217
Tenant-occupied two-unit property with separate electric metering, updated interiors, and individual appliance packages.
Property Size2,296 SF
Price / SF$145.91
Days on Market53
Property Features for 469 E Brandeis Ave
General Information
Standard status
Active
Size
2,296 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$37,200
Building Details
Year Built
1920
Year Renovated
2024
Buildings
1
Listing Agency:
Sell With Hale Realty & Auction
Listed By:
Mike Hall
(502) 509-5131
Source:
Mlsky
Added: Aug 23
Changed: Oct 13
Last Checked: Oct 12 at 8:12PM
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 Sell With Hale Realty & Auction
Investment Insights
Based on property information with market context.
Built in 1920, this 2,296-square-foot duplex contains two separate residential units with tenants already in place. The larger unit includes 3 bedrooms and 1.5 baths, while the second offers 2 bedrooms and 1 bath. Both residences were remodeled in 2024 with new joists, subflooring, padding, and LVP flooring, along with additional interior improvements.
Each unit has its own electric meter, stove, refrigerator, washer, and dryer. HVAC systems are approximately 2 years old, providing updated mechanical equipment for both residences. The existing tenant occupancy and separately metered layout support continued use as a residential income property.
Each unit has its own electric meter, stove, refrigerator, washer, and dryer. HVAC systems are approximately 2 years old, providing updated mechanical equipment for both residences. The existing tenant occupancy and separately metered layout support continued use as a residential income property.
Key Highlights
- Two‑unit duplex totaling 2,296 square feet
- Unit 1: 3 bedrooms and 1.5 baths; Unit 2: 2 bedrooms and 1 bath
- Both units remodeled in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,319
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$386,380
$386.4K
Cap Rate 7%
$275,986
$276.0K
Cap Rate 9%
$214,656
$214.7K
Market Conditions
NOI Build-Up for 2,296 SF
Gross rent
$29.2K $12.72/SF
− Vacancy
−$1.6K −$0.70/SF
EGI
$27.6K $12.02/SF
− OpEx
−$8.3K −$3.61/SF
NOI
$19.3K $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%
$386,380
Cap Rate 7%
$275,986
Cap Rate 9%
$214,656
Alternative Uses
Best Use
Multifamily LT 5
$276.0K
$241.5K – $322.0K
NOI $19,319 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$223.2K
$195.3K – $260.4K
NOI $15,625 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$595.1K
$520.7K – $694.3K
NOI $41,659 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
750
Businesses Nearby
Explore this area
Business Placement
Demographics for 40217, KY
13,061
Population
6,840
Households
1.9
Avg Household Size
36
Median Age
48%
College-Educated
95%
High-School Grad
2.4 sq mi
ZIP Area
5,442
Density / Sq Mi
$68,573
Median Household Income
$48,298
Median Earnings
$1,150
Median Rent
$220,700
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 - Tenant-occupied two-unit property with separate electric metering, updated interiors, and individual appliance packages.
Where is this duplex located?
The property is located at 469 E Brandeis Ave Louisville, KY.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,296 square feet; Unit 1: 3 bedrooms and 1.5 baths; Unit 2: 2 bedrooms and 1 bath; Both units remodeled in 2024
