New Construction Duplex with
For Sale
$515,000
601 E Hill St, Louisville, KY 40217
Multi Family, Louisville, KY
Property Size3,000 SF
Lot Size0.12 Acres
Price / SF$171.67
Days on Market152
Property Features for 601 E Hill St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 4
Patio and Porch features
Porch, Deck, Patio
Exterior features
Balcony
Lot features
Corner Lot, Sidewalk
Directions
East Burnett, Hancock, to East Hill Street
Subdivision
02-Butchertwn/Hghlnds/Germantwn
Standard status
Active
APN
09024B00010000
Size
3,000 SF
Lot size
0.12 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
balconies
Building Details
Year built
2026
Number of units
2
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Shotgun
Listing Agency:
Weichert Realtors - ABG
(502) 893-1900
Listed By:
Grant F Simmons
(502) 552-2492
Added: May 13
Changed: Oct 9
Last Checked: Oct 11 at 8:06AM
MLS# 1717219
Copyright © 2026 Greater Louisville Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Under construction in Louisville’s Meriwether neighborhood, this duplex contains two residences, each arranged with three bedrooms and two full bathrooms. A primary suite is included in each unit. The upper residence has balconies at both the front and rear. The 3,000-square-foot property occupies a 0.12-acre lot, with vinyl siding, central air, and forced-air natural gas heat. Construction is listed for completion in 2026.
Rear off-street parking is provided, with additional on-street parking available along E Hill Street and S Hancock Street. The property is near the University of Louisville, Shelby Park, and the Highlands. Each residence is separately metered.
Rear off-street parking is provided, with additional on-street parking available along E Hill Street and S Hancock Street. The property is near the University of Louisville, Shelby Park, and the Highlands. Each residence is separately metered.
Key Highlights
- Two residences, each with 3 bedrooms and 2 full bathrooms
- 3,000 square feet on a 0.12‑acre lot
- Separate utility meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,243
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,860
$504.9K
Cap Rate 7%
$360,614
$360.6K
Cap Rate 9%
$280,478
$280.5K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$38.2K $12.72/SF
− Vacancy
−$2.1K −$0.70/SF
EGI
$36.1K $12.02/SF
− OpEx
−$10.8K −$3.61/SF
NOI
$25.2K $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 Rate 5%
$504,860
Cap Rate 7%
$360,614
Cap Rate 9%
$280,478
Alternative Uses
Best Use
Multifamily LT 5
$360.6K
$315.5K – $420.7K
NOI $25,243 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$291.7K
$255.2K – $340.3K
NOI $20,417 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$777.6K
$680.4K – $907.2K
NOI $54,432 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
773
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three bedrooms, two full bathrooms, and its own utility meters.
Where is this duplex located?
The property is located at 601 E Hill St Louisville, KY.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 full bathrooms; 3,000 square feet on a 0.12‑acre lot; Separate utility meters for each unit
