Triplex with Two Updated
For Sale
$220,000
130 E Broadway Street, Winchester, KY 40391
MULTI_FAMILY - Winchester, KY
Property Size2,445 SF
Lot Size0.17 Acres
Price / SF$89.98
Days on Market167
Property Features for 130 E Broadway Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Residential
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Laundry Room, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 1
Parking features
Open
Subdivision
Downtown
High school
GRC
Elementary school district
Clark County - 7
Middle school district
Clark County - 7
High school district
Clark County - 7
Directions
From Main St, travel North, turn right on E Broadway, property will be on your right.
Standard status
Active
APN
054-3229-003-00
Size
2,445 SF
Lot size
0.17 Acres
Utilities
Heating system
Zoned
Cooling system
Central Air, Zoned, Multi Units
Building Details
Year built
1940
Floors in Building
2
Number of units
3
Roof type
Shingle
Listing Agency:
Mayca Property Solutions
(859) 667-3436
Listed By:
Sarah May · License #283971
(859) 667-3436
Added: Mar 7
Changed: Aug 14
Last Checked: Aug 21 at 1:06PM
MLS# 26004331
Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey triplex includes two 1BD/1BA units and one 2BD/1BA unit. Tenants are already in place, and the property is being sold as-is. Two of the units have been recently updated, while the third is described as having a long-term tenant.
Tenants pay all utilities directly except water, which is on a RUB system. The home is set on a 0.17-acre lot with 2,445 SF, built in 1940. Heating is described as zoned, and cooling includes zoned systems, central air, and multi-unit cooling. Parking is open, and the roof is shingle. A laundry room is included among the listed interior spaces.
Tenants pay all utilities directly except water, which is on a RUB system. The home is set on a 0.17-acre lot with 2,445 SF, built in 1940. Heating is described as zoned, and cooling includes zoned systems, central air, and multi-unit cooling. Parking is open, and the roof is shingle. A laundry room is included among the listed interior spaces.
Key Highlights
- Two 1BD/1BA units plus one 2BD/1BA unit
- Tenants pay utilities except water on a RUB system
- Two units recently updated; third unit has a long‑term tenant
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
$18,667
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
8.49%
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%
$373,340
$373.3K
Cap Rate 7%
$266,671
$266.7K
Cap Rate 9%
$207,411
$207.4K
Market Conditions
NOI Build-Up for 2,445 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
$35.5K $14.52/SF
− Vacancy
−$1.6K −$0.64/SF
EGI
$33.9K $13.88/SF
− OpEx
−$15.3K −$6.25/SF
NOI
$18.7K $7.63/SF
Area
Clark County, KY
Vacancy
4.40%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
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%
$373,340
Cap Rate 7%
$266,671
Cap Rate 9%
$207,411
Alternative Uses
Best Use
Multifamily LT 5
$298.0K
$260.8K – $347.7K
NOI $20,860 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$266.7K
$233.3K – $311.1K
NOI $18,667 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$619.7K
$542.2K – $722.9K
NOI $43,376 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Explore this area
Business Placement
Demographics for 40391, KY
36,461
Population
16,125
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
90%
High-School Grad
237.3 sq mi
ZIP Area
154
Density / Sq Mi
$67,910
Median Household Income
$40,323
Median Earnings
$884
Median Rent
$197,200
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?
Triplex - Triplex with two 1 bed units and one 2 bed unit, with tenants paying utilities except water on a RUB system.
Where is this triplex located?
The property is located at 130 E Broadway Street Winchester, KY.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two 1BD/1BA units plus one 2BD/1BA unit; Tenants pay utilities except water on a RUB system; Two units recently updated; third unit has a long‑term tenant
