New Construction Duplex with
For Sale
$515,000
601 E Hill St A & B, Louisville, KY 40217
Two three-bedroom residences with private baths, individual metering, and rear off-street parking.
Property Size3,000 SF
Price / SF$171.67
Days on Market97
Property Features for 601 E Hill St A & B
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Merriwether
Additional Details
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Weichert Realtors - ABG
Listed By:
Grant F Simmons
(502) 552-2492
Source:
Familyrealty
Added: Jul 24
Changed: Oct 25
Last Checked: Oct 7 at 2:13PM
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 Weichert Realtors - ABG
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Investment Insights
Based on property information with market context.
This 3,000-square-foot duplex is under construction with anticipated completion in June 2026. The property contains two separate residences, each offering three bedrooms and two full bathrooms. Both units include a primary suite with its own private bathroom, while the upper residence adds front and rear balconies for outdoor space.
Separate utility metering serves each unit. Parking includes a spacious area at the rear, supplemented by on-street parking along E Hill Street and S Hancock Street. The property is located in the Meriwether neighborhood, with UofL, Shelby Park, the Highlands, and local businesses within the surrounding area.
Separate utility metering serves each unit. Parking includes a spacious area at the rear, supplemented by on-street parking along E Hill Street and S Hancock Street. The property is located in the Meriwether neighborhood, with UofL, Shelby Park, the Highlands, and local businesses within the surrounding area.
Key Highlights
- Two‑unit duplex totaling 3,000 SF
- Each residence includes 3 bedrooms and 2 full bathrooms
- Primary suite with private en‑suite bath in 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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences with private baths, individual metering, and rear off-street parking.
Where is this duplex located?
The property is located at 601 E Hill St A & B 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‑unit duplex totaling 3,000 SF; Each residence includes 3 bedrooms and 2 full bathrooms; Primary suite with private en‑suite bath in each unit
