New Construction
For Sale
$389,000
927 Algonquin Pkwy, Louisville, KY 40208
Two residential units provide open living areas, modern kitchens, and off-street parking.
Property Size2,400 SF
Days on Market11
Property Features for 927 Algonquin Pkwy
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi Family Home
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Building Size
2,400 SF
Year Built
2025
Units
2
Listing Agency:
Inclusive Realty, LLC
(502) 314-5725
Listed By:
Antecia L Whitehead · License #276423
Source:
Demareeandhubbard
Added: Jul 31
Changed: Aug 5
Last Checked: Aug 9 at 1:30PM
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 Inclusive Realty, LLC
Investment Insights
Based on property information with market context.
Completed in 2025, this duplex contains two residential units with three bedrooms and 1.5 baths per unit. Interior features include open-concept living areas, modern kitchens, contemporary finishes, and substantial natural light. Off-street parking supports both residences, while the new-construction format offers a low-maintenance property profile.
The property is located at 927 Algonquin Pkwy in Louisville, with access to shopping, dining, schools, parks, and major highways. Its two-unit configuration supports either rental use or owner occupancy, as stated in the property information.
The property is located at 927 Algonquin Pkwy in Louisville, with access to shopping, dining, schools, parks, and major highways. Its two-unit configuration supports either rental use or owner occupancy, as stated in the property information.
Key Highlights
- 2025 construction with two residential units
- Each unit includes 3 bedrooms and 1.5 baths
- Open‑concept living areas with modern kitchens
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
$20,194
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
5.19%
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%
$403,880
$403.9K
Cap Rate 7%
$288,486
$288.5K
Cap Rate 9%
$224,378
$224.4K
Market Conditions
NOI Build-Up for 2,400 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
$30.5K $12.72/SF
− Vacancy
−$1.7K −$0.70/SF
EGI
$28.8K $12.02/SF
− OpEx
−$8.7K −$3.61/SF
NOI
$20.2K $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 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%
$403,880
Cap Rate 7%
$288,486
Cap Rate 9%
$224,378
Alternative Uses
Best Use
Multifamily LT 5
$288.5K
$252.4K – $336.6K
NOI $20,194 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$233.3K
$204.2K – $272.2K
NOI $16,333 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$622.1K
$544.3K – $725.8K
NOI $43,546 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Explore this area
Business Placement
Demographics for 40208, KY
17,048
Population
6,675
Households
2.6
Avg Household Size
27
Median Age
34%
College-Educated
88%
High-School Grad
2.6 sq mi
ZIP Area
6,557
Density / Sq Mi
$37,714
Median Household Income
$17,255
Median Earnings
$914
Median Rent
$153,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide open living areas, modern kitchens, and off-street parking.
Where is this duplex located?
The property is located at 927 Algonquin Pkwy Louisville, KY.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 2025 construction with two residential units; Each unit includes 3 bedrooms and 1.5 baths; Open‑concept living areas with modern kitchens
