Renovated Seven-Bedroom
New
For Sale
$240,000
672 Cecil Ave, Louisville, KY 40211
Two separate residences feature updated kitchens, individual utility meters, and appliances included.
Property Size2,333 SF
Price / SF$102.87
Days on Market4
Property Features for 672 Cecil Ave
General Information
Standard status
Active
Size
2,333 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$36,000
Multifamily Units
2
Building Details
Year Built
1915
Buildings
1
Listing Agency:
RE/MAX Five Star Properties
Listed By:
Key Associates Signature Realty
(812) 686-3268
Source:
Keyassociates
Added: Oct 11
Changed: Oct 13
Last Checked: Oct 12 at 8:14PM
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 RE/MAX Five Star Properties
Investment Insights
Based on property information with market context.
This 2,333-square-foot duplex contains seven bedrooms and three full bathrooms across two residences. The larger unit has four bedrooms, two bathrooms, a foyer, a combined living and dining area, and first-floor laundry. The second unit is arranged upstairs with three bedrooms, one bathroom, and a combined living and dining area. Both kitchens have been remodeled, and appliances remain with the property.
Updates include luxury vinyl plank flooring, carpeting, lighting, ceiling fans, blinds, interior doors, and fresh interior paint. Exterior work includes vinyl siding, window wrap, exterior paint, exterior doors, and replacement windows, with one front bedroom window in the larger unit excepted. A roof and two water heaters were installed in 2022. Flooring and bathroom work in the second unit is underway. Built in 1915, the property has separately metered utilities and current six-month tenant leases.
Updates include luxury vinyl plank flooring, carpeting, lighting, ceiling fans, blinds, interior doors, and fresh interior paint. Exterior work includes vinyl siding, window wrap, exterior paint, exterior doors, and replacement windows, with one front bedroom window in the larger unit excepted. A roof and two water heaters were installed in 2022. Flooring and bathroom work in the second unit is underway. Built in 1915, the property has separately metered utilities and current six-month tenant leases.
Key Highlights
- Seven bedrooms and three full bathrooms in 2,333 square feet
- Two residences with separately metered utilities
- Remodeled kitchens in both units; appliances remain
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,631
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$392,620
$392.6K
Cap Rate 7%
$280,443
$280.4K
Cap Rate 9%
$218,122
$218.1K
Market Conditions
NOI Build-Up for 2,333 SF
Gross rent
$29.7K $12.72/SF
− Vacancy
−$1.6K −$0.70/SF
EGI
$28.0K $12.02/SF
− OpEx
−$8.4K −$3.61/SF
NOI
$19.6K $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%
$392,620
Cap Rate 7%
$280,443
Cap Rate 9%
$218,122
Alternative Uses
Best Use
Multifamily LT 5
$280.4K
$245.4K – $327.2K
NOI $19,631 @ 7.0% cap · market cap 8.18%
Second Best
Apartment 5plus
$226.8K
$198.5K – $264.6K
NOI $15,877 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$604.7K
$529.1K – $705.5K
NOI $42,330 @ 7.0% cap · market cap 17.64%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 40211, KY
21,310
Population
11,450
Households
1.9
Avg Household Size
37
Median Age
11%
College-Educated
86%
High-School Grad
7.3 sq mi
ZIP Area
2,919
Density / Sq Mi
$32,598
Median Household Income
$28,245
Median Earnings
$925
Median Rent
$97,900
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 - Two separate residences feature updated kitchens, individual utility meters, and appliances included.
Where is this duplex located?
The property is located at 672 Cecil Ave Louisville, KY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Seven bedrooms and three full bathrooms in 2,333 square feet; Two residences with separately metered utilities; Remodeled kitchens in both units; appliances remain
