For real estate investors searching for immediate yield and long-term equity growth, finding a stabilized multi-family property under $120,000 is a rare find. Located at 2733 Dumesnil St in Louisville, Kentucky, this 1900-built duplex hits the market at an accessible $115,000, offering a turnkey entry point into the city’s robust rental market.
Spanning 2,219 square feet, this historic property seamlessly balances turn-of-the-century structural volume with modern investment functionality.
Immediate Cash Flow and Strong Rental Metrics
Unlike speculative fixer-uppers, this property operates as a functioning asset from day one. The duplex generates a reliable total rental income of $1,507.05 per month, distributed across two occupied units:
Unit 1: Currently commands $750 per month in rent.
Unit 2: Commands $757.05 per month and has been recently remodeled. Updates to this unit include a full cosmetic refresh with crisp new paint, modernized flooring underfoot, and upgraded appliances.
With a gross annual income topping $18,000 against a $115,000 acquisition price, the property boasts a highly favorable price-to-rent ratio that comfortably surpasses standard multi-family benchmarks.
Value-Add Potential and Strategic Location
While the duplex is already generating steady income, it holds significant upside for a strategic investor. The current rent structures offer clear value-add potential, allowing a new landlord to incrementally adjust rates to full market value as leases renew, driving up both the net operating income and the overall property valuation.
The building’s layout encompasses 3 bedrooms and 2 bathrooms across its two levels. Built with the solid bones typical of early 1900s construction, the property features a traditional front porch and separate layouts that maximize tenant privacy.
Location-wise, the duplex is positioned for consistent tenant demand. It sits within easy commuting distance of Downtown Louisville, neighborhood shopping centers, and major traffic arteries, making it an attractive option for working professionals who rely on city transit and local amenities.
Property At A Glance
Price: $115,000
Total Size: 2,219 sq. ft. | 3 Beds | 2 Baths
Current Revenue: $1,507.05 / month (Fully Occupied)
History: Built in 1900 | Updated Mechanicals & Unit 2 Reno
Whether you are a local investor looking to expand an existing urban portfolio or an out-of-state buyer seeking an affordable, cash-flowing asset to anchor your capital, this historic Dumesnil Street duplex delivers immediate stability and undeniable room to grow.
Zillow link https://www.zillow.com/homedetails/2733-Dumesnil-St-Louisville-KY-40211/73595980_zpid/