Maintained Duplex with Screened
For Sale
$329,900
237 Harmony Way, Elizabethtown, KY 42701
Residential/Farm, Duplex, Elizabethtown, KY
Property Size1,453 SF
Lot Size0.13 Acres
Price / SF$227.05
Days on Market34
Property Features for 237 Harmony Way
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2
Window features
Blinds
Patio and Porch features
Patio, Porch
Interior features
Catherdral Ceiling(s), Ceiling Fan(s), Closet Light(s), Tray Ceiling(s), Vaulted Ceiling(s), Walk-in Closet(s)
Exterior features
Concrete Walks, Covered Patio, Landscaping, Screened Porch
Appliances
Dryer, Smoke Detector(s), Washer
Subdivision
THE COURTYARD AT ROBINBROOKE F
Lot features
Sidewalks, Subdivision
Directions
Patriot Pkwy. To Robinbrooke Blvd. Turn right onto Harmony Way. Straight ahead to Courtyard at Robinbrooke
Standard status
Active
Size
1,453 SF
Lot size
0.13 Acres
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air, Heat Pump
Amenities
screened-in porch
Building Details
Year built
2018
Flooring type
Hardwood
Roof type
Shingle
Architectural style
Other
Listing Agency:
United Real Estate Louisville - Elizabethtown
(270) 279-6647
Listed By:
Toni J Davenport
(270) 735-1168
Added: Jul 21
Changed: Aug 21
Last Checked: Aug 23 at 8:06PM
MLS# HK2603057
Copyright © 2026 Heart of Kentucky Association 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.
Investment Insights
Based on property information with market context.
Built in 2018, this 1,453-square-foot duplex includes two bedrooms and two full bathrooms within an open interior layout. Hardwood flooring extends throughout the residence, while the kitchen combines granite countertops, stainless steel appliances, extensive cabinetry, and generous preparation space. The primary bedroom includes a walk-in closet and private bathroom with a double vanity and walk-in shower. A second bathroom features a walk-in tub.
Nine-foot ceilings, vaulted and tray ceiling details, ceiling fans, and ample closet storage add functional interior features. Outside, the property includes a screened porch, covered patio, concrete walks, landscaping, and views toward surrounding trees and green space. Central air and heat-pump systems provide heating and cooling, and the residence includes a shingle roof, washer, dryer, and smoke detectors. The property is located in Elizabethtown, Kentucky.
Nine-foot ceilings, vaulted and tray ceiling details, ceiling fans, and ample closet storage add functional interior features. Outside, the property includes a screened porch, covered patio, concrete walks, landscaping, and views toward surrounding trees and green space. Central air and heat-pump systems provide heating and cooling, and the residence includes a shingle roof, washer, dryer, and smoke detectors. The property is located in Elizabethtown, Kentucky.
Key Highlights
- 1,453‑square‑foot duplex built in 2018
- Two bedrooms and two full bathrooms
- Kitchen with granite countertops and stainless steel appliances
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
$12,523
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
3.80%
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%
$250,460
$250.5K
Cap Rate 7%
$178,900
$178.9K
Cap Rate 9%
$139,144
$139.1K
Market Conditions
NOI Build-Up for 1,453 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
$18.8K $12.96/SF
− Vacancy
−$942 −$0.65/SF
EGI
$17.9K $12.31/SF
− OpEx
−$5.4K −$3.69/SF
NOI
$12.5K $8.62/SF
Area
Hardin County, KY
Vacancy
5.00%
Lease Rate
$12.96 /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%
$250,460
Cap Rate 7%
$178,900
Cap Rate 9%
$139,144
Alternative Uses
Best Use
Multifamily LT 5
$178.9K
$156.5K – $208.7K
NOI $12,523 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$166.2K
$145.4K – $193.9K
NOI $11,631 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$263.0K
$230.2K – $306.9K
NOI $18,412 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 42701, KY
52,731
Population
23,565
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
94%
High-School Grad
161.8 sq mi
ZIP Area
326
Density / Sq Mi
$68,715
Median Household Income
$44,251
Median Earnings
$902
Median Rent
$235,500
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?
Duplex - Two-bedroom duplex with hardwood floors, updated kitchen finishes, and a private outdoor sitting area overlooking landscaped green space.
Where is this duplex located?
The property is located at 237 Harmony Way Elizabethtown, KY.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 1,453‑square‑foot duplex built in 2018; Two bedrooms and two full bathrooms; Kitchen with granite countertops and stainless steel appliances
