New-Construction Duplex with Vaulted
For Sale
$348,700
323 Randolph Street, Somerset, KY 42501
Residential Income, Somerset, KY
Property Size2,100 SF
Lot Size0.20 Acres
Price / SF$166.05
Days on Market257
Property Features for 323 Randolph Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Laundry Room, Bedroom 4, Bathroom 2, Bedroom 3
Subdivision
Downtown
Elementary school
Somerset
Middle school
Somerset
High school
Somerset
Elementary school district
Somerset Independent
Middle school district
Somerset Independent
High school district
Somerset Independent
Directions
From east mount vernon Street, turn onto Randolph Street. Travel about .3 miles all the way to the very end. The property is on your right.
Standard status
Active
APN
076-1-2-04.3
Size
2,100 SF
Lot size
0.20 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Amenities
covered front porch
side deck
oversized one-car garage
custom kitchen with built-in cabinetry and granite countertops
12-foot vaulted ceilings
Building Details
Year built
2025
Roof type
Metal
Listing Agency:
Keller Williams Commonwealth - Somerset · Keller Williams Realty
(859) 721-2121
Listed By:
Nathanael Sears
(606) 425-6632
Added: Jan 8
Changed: Sep 16
Last Checked: Sep 22 at 11:06AM
MLS# 26000475
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 under-construction duplex, scheduled for completion in 2025, contains two-bedroom, one-bathroom residences with approximately 2,100 square feet across the property. Each home features minimum 12-foot vaulted ceilings, a large primary bedroom, a living room, laundry room, and a custom kitchen with built-in cabinetry and granite countertops. Exterior improvements include matte black siding, tongue-and-groove pressure-treated pine soffits, a covered front porch, side deck, and an oversized one-car garage. The property has electric heating and cooling and a metal roof.
Located at 323 Randolph Street in Somerset, the duplex sits at the end of a dead-end street and backs to an open field. The property occupies 0.2 acres in Pulaski County.
Located at 323 Randolph Street in Somerset, the duplex sits at the end of a dead-end street and backs to an open field. The property occupies 0.2 acres in Pulaski County.
Key Highlights
- Under construction with a 2025 year built
- Approximately 2,100 square feet on a 0.2‑acre lot
- Two‑bedroom, one‑bathroom residences
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
$16,011
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
4.59%
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%
$320,220
$320.2K
Cap Rate 7%
$228,729
$228.7K
Cap Rate 9%
$177,900
$177.9K
Market Conditions
NOI Build-Up for 2,100 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
$23.9K $11.40/SF
− Vacancy
−$1.1K −$0.51/SF
EGI
$22.9K $10.89/SF
− OpEx
−$6.9K −$3.27/SF
NOI
$16.0K $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%
$320,220
Cap Rate 7%
$228,729
Cap Rate 9%
$177,900
Alternative Uses
Best Use
Multifamily LT 5
$228.7K
$200.1K – $266.9K
NOI $16,011 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$203.8K
$178.3K – $237.8K
NOI $14,265 @ 7.0% cap · market cap 4.09%
Theoretical Best
Specialty Retail
$357.8K
$313.1K – $417.4K
NOI $25,044 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Explore this area
Business Placement
Demographics for 42501, KY
18,047
Population
8,039
Households
2.2
Avg Household Size
43
Median Age
17%
College-Educated
84%
High-School Grad
199.7 sq mi
ZIP Area
90
Density / Sq Mi
$49,449
Median Household Income
$38,121
Median Earnings
$808
Median Rent
$131,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 residences include garages, porches, and outdoor living areas beside an open field.
Where is this duplex located?
The property is located at 323 Randolph Street Somerset, KY.
What is the asking price?
The asking price for this property is $348,700.
What are key features of this property?
This property features: Under construction with a 2025 year built; Approximately 2,100 square feet on a 0.2‑acre lot; Two‑bedroom, one‑bathroom residences
