Ranch Duplex with Finished
For Sale
$199,000
314 Park Avenue, Somerset, KY 42503
MULTI_FAMILY - Ranch - Somerset, KY
Property Size1,500 SF
Lot Size0.42 Acres
Price / SF$132.67
Days on Market37
Property Features for 314 Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 1, Bathroom 2, Laundry Room, Utility Room, Bedroom 2, Bathroom 1
Parking features
Garage - Attached, Driveway, Garage
Interior features
Eat-in Kitchen, Ceiling Fan(s)
Basement
Walk-Up Access, Walk-Out Access, Finished
Appliances
Dishwasher, Refrigerator, Range
Elementary school
Hopkins
Middle school
Meece
High school
Pulaski Co
Elementary school district
Pulaski County - 45
Middle school district
Pulaski County - 45
High school district
Pulaski County - 45
Directions
From US-27 turn Right on east 80, Turn Left at on Clifty street, and Take the first right on park Ave, home on left, see signs.
Subdivision
909 - Somerset City, Pulaski County
Standard status
Active
APN
060-0-1-02
Size
1,500 SF
Lot size
0.42 Acres
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Electric, Ceiling Fan(s), Heat Pump, Central Air
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Flooring type
Hardwood, Concrete
Building materials
Brick Veneer, Metal Siding
Roof type
Metal
Architectural style
Ranch
Listing Agency:
Premier Properties of Lake Cumberland, Inc.
(606) 676-0707
Listed By:
Christina Jones
(606) 341-0974
Added: Jul 31
Changed: Aug 10
Last Checked: Sep 5 at 5:06PM
MLS# 26020572
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.
Brand-new ranch duplex under construction featuring two bedrooms and two full bathrooms. The layout includes a finished basement designed to expand living space, with a large room that could be used as a third bedroom and an additional room that can serve as an office, hobby room, or extra storage. The basement floor will be finished prior to closing.
Interior highlights include an eat-in kitchen and ceiling fans. The home is planned with modern finishes, an attached garage, and a driveway. Construction materials include brick veneer and metal siding, with hardwood and concrete flooring, and a metal roof.
Utilities and services include public water and public sewer, with phone availability. Heating is electric with a heat pump, and cooling includes central air and ceiling fans. The home is currently under construction with a 2025 year built.
Interior highlights include an eat-in kitchen and ceiling fans. The home is planned with modern finishes, an attached garage, and a driveway. Construction materials include brick veneer and metal siding, with hardwood and concrete flooring, and a metal roof.
Utilities and services include public water and public sewer, with phone availability. Heating is electric with a heat pump, and cooling includes central air and ceiling fans. The home is currently under construction with a 2025 year built.
Key Highlights
- Two‑bedroom, two full‑bath duplex under construction with ranch design
- Finished basement planned prior to closing with large room for possible third bedroom
- Additional basement room suited for office, hobby room, or extra storage
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
$11,436
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
5.75%
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%
$228,720
$228.7K
Cap Rate 7%
$163,371
$163.4K
Cap Rate 9%
$127,067
$127.1K
Market Conditions
NOI Build-Up for 1,500 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
$17.1K $11.40/SF
− Vacancy
−$763 −$0.51/SF
EGI
$16.3K $10.89/SF
− OpEx
−$4.9K −$3.27/SF
NOI
$11.4K $7.62/SF
Area
Pulaski County, KY
Vacancy
4.46%
Lease Rate
$11.40 /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%
$228,720
Cap Rate 7%
$163,371
Cap Rate 9%
$127,067
Alternative Uses
Best Use
Multifamily LT 5
$163.4K
$143.0K – $190.6K
NOI $11,436 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$145.6K
$127.4K – $169.8K
NOI $10,189 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$255.5K
$223.6K – $298.1K
NOI $17,888 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
514
Businesses Nearby
Explore this area
Business Placement
Demographics for 42503, KY
24,670
Population
11,588
Households
2.1
Avg Household Size
42
Median Age
23%
College-Educated
85%
High-School Grad
129.5 sq mi
ZIP Area
191
Density / Sq Mi
$53,377
Median Household Income
$35,319
Median Earnings
$873
Median Rent
$198,500
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 - Brand-new duplex under construction with two bedrooms, two full baths, and a finished basement layout with flexible rooms.
Where is this duplex located?
The property is located at 314 Park Avenue Somerset, KY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑bedroom, two full‑bath duplex under construction with ranch design; Finished basement planned prior to closing with large room for possible third bedroom; Additional basement room suited for office, hobby room, or extra storage
