Updated Duplex with New
For Sale
$195,000
938 Samuel St, Louisville, KY 40204
Fully leased property with two refreshed units near Germantown restaurants, shopping, and parks.
Property Size1,020 SF
Price / SF$191.18
Days on Market86
Property Features for 938 Samuel St
General Information
Standard status
Active
Size
1,020 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$21,384
Listing Agency:
EXP Realty LLC
(888) 624-6448
Listed By:
Ethan J Adams · License #244623
(502) 558-8193
Source:
Exprealty
Added: Jul 21
Changed: Oct 6
Last Checked: Oct 12 at 9:35PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This duplex contains two updated one-bedroom, one-bathroom residences within 1,020 square feet. Both units feature contemporary finishes and interior improvements, while a new roof adds a recent major building upgrade. The property is fully leased, providing an established rental configuration for ownership or portfolio expansion.
Built in 1900, the property is located at 938 Samuel St in Louisville’s Germantown neighborhood. Restaurants, shopping, and parks are nearby, placing residents close to the neighborhood’s established amenities.
Built in 1900, the property is located at 938 Samuel St in Louisville’s Germantown neighborhood. Restaurants, shopping, and parks are nearby, placing residents close to the neighborhood’s established amenities.
Key Highlights
- Two updated 1‑bedroom, 1‑bathroom units
- 1020 SF duplex built in 1900
- New roof and contemporary interior finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,583
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$171,660
$171.7K
Cap Rate 7%
$122,614
$122.6K
Cap Rate 9%
$95,367
$95.4K
Market Conditions
NOI Build-Up for 1,020 SF
Gross rent
$13.0K $12.72/SF
− Vacancy
−$714 −$0.70/SF
EGI
$12.3K $12.02/SF
− OpEx
−$3.7K −$3.61/SF
NOI
$8.6K $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%
$171,660
Cap Rate 7%
$122,614
Cap Rate 9%
$95,367
Alternative Uses
Best Use
Multifamily LT 5
$122.6K
$107.3K – $143.1K
NOI $8,583 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$99.2K
$86.8K – $115.7K
NOI $6,942 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$264.4K
$231.3K – $308.5K
NOI $18,507 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
Demographics for 40204, KY
14,600
Population
8,759
Households
1.7
Avg Household Size
38
Median Age
63%
College-Educated
97%
High-School Grad
3.2 sq mi
ZIP Area
4,563
Density / Sq Mi
$70,706
Median Household Income
$50,246
Median Earnings
$1,225
Median Rent
$314,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Fully leased property with two refreshed units near Germantown restaurants, shopping, and parks.
Where is this duplex located?
The property is located at 938 Samuel St Louisville, KY.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two updated 1‑bedroom, 1‑bathroom units; 1020 SF duplex built in 1900; New roof and contemporary interior finishes
