New Construction Duplex with
New
For Sale
$515,000
Pending
603 E Hill St, Louisville, KY 40217
MULTI_FAMILY - Shotgun - Louisville, KY
Property Size3,000 SF
Lot Size0.12 Acres
Days on Market4
Property Features for 603 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 4, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 5, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 6
Patio and Porch features
Deck, Porch, Patio
Exterior features
Balcony
Lot features
Corner Lot, Sidewalk
Directions
East Burnett, Hancock, to East Hill Street
Subdivision
02-Butchertwn/Hghlnds/Germantwn
Standard status
Pending
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
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: Jul 28
Changed: Jul 29
Last Checked: Jul 31 at 7:06AM
MLS# 1724632
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, this new construction duplex will be completed in June 2026 and features two separate units, each with 3 bedrooms and 2 full bathrooms, including a primary suite with a private en-suite bath on each level. The second-floor unit includes both front and rear balconies, adding dedicated outdoor space.
The property provides spacious off-street parking in the rear, along with additional on-street parking on E Hill Street and S Hancock Street. Each unit is separately metered.
The listing notes that qualified buyers may be able to use projected rental income from the second unit toward FHA financing qualification, subject to lender verification by the buyer.
The property provides spacious off-street parking in the rear, along with additional on-street parking on E Hill Street and S Hancock Street. Each unit is separately metered.
The listing notes that qualified buyers may be able to use projected rental income from the second unit toward FHA financing qualification, subject to lender verification by the buyer.
Key Highlights
- New construction 2‑unit duplex (under construction) with projected completion in June 2026
- Each unit offers 3 bedrooms and 2 full bathrooms, including a primary suite with a private en‑suite bath on each level
- Second‑floor unit includes front and rear balconies for added outdoor space
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.2k | $12.72 |
| − Vacancy | −$2.1k | −$0.70 |
| EGI | $36.1k | $12.02 |
| − OpEx | −$10.8k | −$3.61 |
| NOI | $25.2k | $8.41 |
3,000 SF · lease $12.72/SF/yr · vacancy 5.50% · expense 30.00%
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
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
763
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
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 - Under-construction duplex with two separately metered units, each offering 3 bedrooms and 2 full baths plus balcony space.
Where is this duplex located?
The property is located at 603 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: New construction 2‑unit duplex (under construction) with projected completion in June 2026; Each unit offers 3 bedrooms and 2 full bathrooms, including a primary suite with a private en‑suite bath on each level; Second‑floor unit includes front and rear balconies for added outdoor space
