Two-Story Brick
New
For Sale
$375,000
728 E Chestnut St, Louisville, KY 40202
Multi Family, Louisville, KY
Property Size2,292 SF
Price / SF$163.61
Days on Market3
Property Features for 728 E Chestnut St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 4
Patio and Porch features
Deck
Exterior features
Balcony
Subdivision
PHOENIX HILL
Directions
East Broadway westbound to S Clay Street (right), right on East Chestnut.
Standard status
Active
APN
04016J01520000
Size
2,292 SF
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1890
Number of units
2
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
Kentucky Select Properties
(502) 271-5000
Listed By:
Stephanie Kertis · License #275566
(502) 767-3322
Added: Oct 5
Last Checked: Oct 7 at 9:06AM
MLS# 1730968
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.
This two-story brick duplex contains two furnished residences, each measuring 1,100 square feet. Both have a private interior entrance reached through a foyer with an original wood staircase. Each unit includes a living room, an equipped eat-in kitchen, two bedrooms, a full bathroom, laundry, and a rear deck with direct access to the backyard. The property also has off-street parking, alley access, and OR-2 zoning. Public water and sewer serve the building, which was constructed in 1890.
The property is in Louisville, near the Medical Center, NuLu, the Convention Center, Slugger Field, the waterfront, Paristown Point, and the Lower Highlands. Major surface roads and interstate access are nearby, with access to the airport also noted.
The two-unit configuration has been operated as an executive rental. The residences can accommodate furnished rental arrangements or owner occupancy alongside a separate unit, as described in the property information.
The property is in Louisville, near the Medical Center, NuLu, the Convention Center, Slugger Field, the waterfront, Paristown Point, and the Lower Highlands. Major surface roads and interstate access are nearby, with access to the airport also noted.
The two-unit configuration has been operated as an executive rental. The residences can accommodate furnished rental arrangements or owner occupancy alongside a separate unit, as described in the property information.
Key Highlights
- Two furnished units, each with 1,100 square feet
- OR‑2 zoning; lot exceeds 0.11 acres
- Two bedrooms, full bathroom, laundry, and equipped eat‑in kitchen in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,286
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,720
$385.7K
Cap Rate 7%
$275,514
$275.5K
Cap Rate 9%
$214,289
$214.3K
Market Conditions
NOI Build-Up for 2,292 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%
$385,720
Cap Rate 7%
$275,514
Cap Rate 9%
$214,289
Alternative Uses
Best Use
Multifamily LT 5
$275.5K
$241.1K – $321.4K
NOI $19,286 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$222.8K
$195.0K – $260.0K
NOI $15,598 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$594.1K
$519.8K – $693.1K
NOI $41,586 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,288
Businesses Nearby
Explore this area
Business Placement
Demographics for 40202, KY
7,179
Population
4,242
Households
1.7
Avg Household Size
39
Median Age
27%
College-Educated
83%
High-School Grad
1.6 sq mi
ZIP Area
4,487
Density / Sq Mi
$29,382
Median Household Income
$33,205
Median Earnings
$881
Median Rent
$340,000
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 furnished residences feature separate interior entries, rear decks, and access to a shared backyard.
Where is this duplex located?
The property is located at 728 E Chestnut St Louisville, KY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two furnished units, each with 1,100 square feet; OR‑2 zoning; lot exceeds 0.11 acres; Two bedrooms, full bathroom, laundry, and equipped eat‑in kitchen in each unit
