Fully Furnished Triplex
118 S Franklin, Madisonville, KY 42431
New
MULTI_FAMILY - Madisonville, KY
Property size:
2,946 SFLot size:
0.29 AcresPrice / SF:
$86/SF- Added:
- Jun 22, 2026
- Days on Market:
- 6
- Last Refresh:
- Jun 27 at 1:06 pm
Property Features for 118 S Franklin
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 14
- Rooms
- Bedroom 10, Bedroom 7, Bedroom 6, Bedroom 12, Bedroom 5, Bedroom 4, Bedroom 13, Bedroom 1, Bedroom 14, Bedroom 8, Bedroom 2, Bedroom 3, Bedroom 9, Bedroom 11
- Window features
- Double Pane Windows
- Patio and Porch features
- Deck
- Interior features
- Ceiling Fan(s), Hardwood Floors, Smoke Detector, Tile Floors, Walk-In Closets
- Exterior features
- Deck, Outbuildings, Shed, Stoop
- Appliances
- Dishwasher, Dryer, Garbage Disposal, Microwave, Range-Electric, Refrigerator, Washer
- Standard status
- Active
- Size
- 2,946 SF
- Lot size
- 0.29 Acres
Utilities
- Heating system
- Natural Gas
- Cooling system
- Central Air, Electric
Building Details
- Year built
- 1924
- Number of units
- 3
- Building materials
- 2 Story, Brick
- Roof type
- Composition
- Additional Structures
- Outbuilding
Listing agent Sara Spencer (270) 836-2771
Listing office Haven Realty, LLC 3435 Hanson Road, Suite C 3435 Hanson Road, Suite C, White Plains, KY (270) 245-2626
Listing date Jun 22, 2026
MLS# 121980
Listing URL
Copyright © 2026 Madisonville-Hopkins County Board 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.
HighLights
- 3‑unit multi‑family property on S. Franklin Street in Madisonville, with units currently operating as Airbnb properties
- Unit mix: Unit 1 (2 bed/2 bath), Unit 2 (1 bed/1 bath plus office), Unit 3 (2 bed/1 bath)
- Each unit includes living room, kitchen, and laundry areas, and comes fully furnished (linens and kitchenware included)
- Deep fenced lot with a storage building/outbuilding for additional space
- Major updates: new roof and gutters in 2025
- HVAC: central air plus electric; all three HVAC units are approximately 5 years old
Overview
This property is a turnkey triplex with three established rental units. Unit 1 offers two bedrooms and two bathrooms. Unit 2 features one bedroom, one bathroom, and an office. Unit 3 includes two bedrooms and one bathroom. All three units have updated living rooms and kitchens, along with laundry areas, and the units are offered fully furnished, including linens and kitchenware.
The triplex is located on S. Franklin Street in Madisonville, within walking distance of downtown shops, restaurants, and local attractions. The property sits on a deep, fenced lot and includes a storage building for additional space.
For buyers or operators seeking an income-generating residential asset, the configuration supports multiple rental setups within one property while keeping day-to-day readiness streamlined through furnishing and interior updates. Recent exterior and mechanical work includes a new roof and gutters installed in 2025, and HVAC units that are approximately five years old for each unit. The fenced lot and storage building add practical utility for resident and guest use.
The triplex is located on S. Franklin Street in Madisonville, within walking distance of downtown shops, restaurants, and local attractions. The property sits on a deep, fenced lot and includes a storage building for additional space.
For buyers or operators seeking an income-generating residential asset, the configuration supports multiple rental setups within one property while keeping day-to-day readiness streamlined through furnishing and interior updates. Recent exterior and mechanical work includes a new roof and gutters installed in 2025, and HVAC units that are approximately five years old for each unit. The fenced lot and storage building add practical utility for resident and guest use.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.0k | $10.20 |
| − Vacancy | −$1.5k | −$0.51 |
| EGI | $28.5k | $9.69 |
| − OpEx | −$8.6k | −$2.91 |
| NOI | $20.0k | $6.78 |
2,946 SF · lease $10.20/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$285.5K
$249.8K – $333.1K
NOI $19,983 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$256.8K
$224.7K – $299.6K
NOI $17,974 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$496.9K
$434.8K – $579.8K
NOI $34,786 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Madisonville
- County
- Hopkins
- State
- Kentucky
- Longitude
- -87.497017
- Latitude
- 37.326157
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Turnkey triplex with three furnished Airbnb-style units, updated interiors, fenced lot, and dedicated storage building.
Where is this triplex located?
The property is located at 118 S Franklin Madisonville, KY.
What is the asking price?
The asking price for this property is $255,900.
What are key features of this property?
This property features: 3‑unit multi‑family property on S. Franklin Street in Madisonville, with units currently operating as Airbnb properties; Unit mix: Unit 1 (2 bed/2 bath), Unit 2 (1 bed/1 bath plus office), Unit 3 (2 bed/1 bath); Each unit includes living room, kitchen, and laundry areas, and comes fully furnished (linens and kitchenware included)
