Duplex with Two Separate
For Sale
$324,900
369 Wallace Lane, Paducah, KY 42001
MULTI_FAMILY - Paducah, KY
Property Size2,510 SF
Lot Size0.16 Acres
Price / SF$129.44
Days on Market50
Property Features for 369 Wallace Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-1
Zoning description
Low Density Residential
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 5
Elementary school
Clark
Middle school
Paducah Middle
High school
Paducah Tilghman
Elementary school district
Paducah Independent
Middle school district
Paducah Independent
High school district
Paducah Independent
Directions
From I-24 E, Exit 7 in Paducah, Left onto Alben Barkley towards downtown, left onto Sycamore Dr, right onto Forest Circle, left onto Wallace Ln, Home will be on the right.
Subdivision
119 - McCracken County
Standard status
Active
APN
096-33-05-006
Size
2,510 SF
Lot size
0.16 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Amenities
fireplaces
hardwood floors
granite countertops
stainless steel appliances
patios
Building Details
Year built
1938
Listing Agency:
Housman Partners Real Estate
(270) 534-5569
Listed By:
Jessica Housman · License #201474
(270) 210-4366
Added: Jul 24
Changed: Aug 5
Last Checked: Sep 11 at 4:06PM
MLS# 26019826
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.
Duplex at 369 Wallace Lane built in 1938, with two well-maintained units designed with separate layouts. Side A is approximately 1,600 square feet and includes 3 bedrooms and 1.5 bathrooms. Hardwood floors run through the living room, which features a fireplace, and the updated kitchen has granite countertops and stainless steel appliances. There is also a dedicated dining room, with all three bedrooms located upstairs. Side A opens to a spacious back patio.
Side B is approximately 910 square feet with 2 bedrooms and 1 bathroom. Hardwood floors extend throughout, and the living room includes a fireplace. The kitchen is equipped with stainless steel appliances, and Side B also features a spacious back patio.
The property sits on a 0.16-acre lot in R-1 zoning. Natural gas heating and central air conditioning are provided.
Side B is approximately 910 square feet with 2 bedrooms and 1 bathroom. Hardwood floors extend throughout, and the living room includes a fireplace. The kitchen is equipped with stainless steel appliances, and Side B also features a spacious back patio.
The property sits on a 0.16-acre lot in R-1 zoning. Natural gas heating and central air conditioning are provided.
Key Highlights
- Two‑unit duplex with side‑by‑side living spaces and different layouts
- Side A approx. 1,600 SF: 3 bedrooms, 1.5 bathrooms, fireplace, hardwood floors
- Side A updated 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
$22,653
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
6.97%
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%
$453,060
$453.1K
Cap Rate 7%
$323,614
$323.6K
Cap Rate 9%
$251,700
$251.7K
Market Conditions
NOI Build-Up for 2,510 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
$35.2K $14.04/SF
− Vacancy
−$2.9K −$1.15/SF
EGI
$32.4K $12.89/SF
− OpEx
−$9.7K −$3.87/SF
NOI
$22.7K $9.03/SF
Area
McCracken County, KY
Vacancy
8.17%
Lease Rate
$14.04 /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%
$453,060
Cap Rate 7%
$323,614
Cap Rate 9%
$251,700
Alternative Uses
Best Use
Multifamily LT 5
$323.6K
$283.2K – $377.6K
NOI $22,653 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$294.2K
$257.4K – $343.2K
NOI $20,592 @ 7.0% cap · market cap 6.34%
Theoretical Best
Warehouse
$523.0K
$457.6K – $610.1K
NOI $36,608 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 42001, KY
31,579
Population
14,815
Households
2.1
Avg Household Size
41
Median Age
36%
College-Educated
94%
High-School Grad
74.2 sq mi
ZIP Area
426
Density / Sq Mi
$68,868
Median Household Income
$42,334
Median Earnings
$916
Median Rent
$210,100
Median Home Value
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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 - Duplex in R-1 zoning with natural gas heat and central air, featuring fireplaces and spacious back patios.
Where is this duplex located?
The property is located at 369 Wallace Lane Paducah, KY.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Two‑unit duplex with side‑by‑side living spaces and different layouts; Side A approx. 1,600 SF: 3 bedrooms, 1.5 bathrooms, fireplace, hardwood floors; Side A updated kitchen with granite countertops and stainless steel appliances
