Renovated Duplex with Storage
For Sale
$197,000
743 S 42nd St, Louisville, KY 40211
Updated two-unit property with separate living spaces, refreshed interiors, and outdoor storage in Louisville.
Property Size1,954 SF
Price / SF$100.82
Days on Market20
Property Features for 743 S 42nd St
General Information
Standard status
Active
Size
1,954 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
backyard
outbuilding
Building Details
Buildings
1
Listing Agency:
United Real Estate Louisville
(502) 807-6832
Listed By:
Ty'Shawn G Brooks · License #223198
(502) 807-6832
Source:
Exprealty
Added: Jul 24
Changed: Aug 11
Last Checked: Aug 11 at 7:39AM
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 United Real Estate Louisville
Investment Insights
Based on property information with market context.
This renovated duplex contains 1,954 square feet with a two-level layout. The first-floor residence includes three bedrooms and one full bath, while the upstairs unit provides two bedrooms and one full bath. Recent improvements include new HVAC systems, central A/C units, a water heater, interior paint, and other modern updates.
The property also includes a spacious backyard and an outbuilding for additional storage. Located at 743 S 42nd St in Louisville, it offers access to major roadways and downtown Louisville.
The property also includes a spacious backyard and an outbuilding for additional storage. Located at 743 S 42nd St in Louisville, it offers access to major roadways and downtown Louisville.
Key Highlights
- 1,954‑square‑foot renovated duplex at 743 S 42nd St, Louisville, KY
- First‑floor unit has 3 bedrooms and 1 full bath
- Second‑floor unit includes 2 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,442
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$328,840
$328.8K
Cap Rate 7%
$234,886
$234.9K
Cap Rate 9%
$182,689
$182.7K
Market Conditions
NOI Build-Up for 1,954 SF
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.
Gross rent
$24.9K $12.72/SF
− Vacancy
−$1.4K −$0.70/SF
EGI
$23.5K $12.02/SF
− OpEx
−$7.0K −$3.61/SF
NOI
$16.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$328,840
Cap Rate 7%
$234,886
Cap Rate 9%
$182,689
Alternative Uses
Best Use
Multifamily LT 5
$234.9K
$205.5K – $274.0K
NOI $16,442 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$190.0K
$166.2K – $221.6K
NOI $13,298 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$506.5K
$443.2K – $590.9K
NOI $35,453 @ 7.0% cap · market cap 18.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
211
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
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 - Updated two-unit property with separate living spaces, refreshed interiors, and outdoor storage in Louisville.
Where is this duplex located?
The property is located at 743 S 42nd St Louisville, KY.
What is the asking price?
The asking price for this property is $197,000.
What are key features of this property?
This property features: 1,954‑square‑foot renovated duplex at 743 S 42nd St, Louisville, KY; First‑floor unit has 3 bedrooms and 1 full bath; Second‑floor unit includes 2 bedrooms and 1 full bath
