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    The Largest CRE Database in the US with Over 1 Million Listings

    875 Highway 3106 Monticello, KY 42633

    Sponsored
    For Sale
    $249,000

    Farm / Farmhouse, Residential - Monticello, KY

    Type:Farm
    Property size:
    1,477 SF
    Lot size:
    2.15 Acres
    Days on Market:
    3
    Last Refresh:
    Jan 26 at 9:06 pm

    Property Features for 875 Highway 3106

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Kitchen
    Bedrooms
    4
    Bathrooms
    2
    Parking features
    Garage, Garage - Detached
    Fireplace
    1
    Basement Y/N
    1
    Appliances
    Dishwasher, Microwave, Refrigerator, Washer
    Size
    1,477 SF
    Lot size
    2.15 Acres

    Utilities

    Heating system
    Electric (Heating), Fireplace(s), Heat Pump (Heating)

    Building Details

    Year built
    1950
    Year renovated
    1950
    Floors in Building
    2
    Building materials
    Brick
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Dylan Jones

    Cardinal Realty & Auction LLC (606) 340-7406

    Listing agent Dylan Jones (606) 340-7406

    Listing date Jan 24, 2026

    MLS# 11615764 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Updated Farmhouse with Detached Garage

    This updated farmhouse is situated on approximately 2.15 acres of unrestricted land, with final boundaries and total acreage to be confirmed by survey prior to closing. The property features modern interior upgrades and usable land. The spacious home includes two full levels of living space plus a finished basement, providing over 2,300 square feet of living area. A new 30x38 detached metal garage/shop includes a half bath. The main level features newer paint, updated lighting, and modern flooring. The living room has natural light and a black-accented fireplace. The dining area opens to a remodeled kitchen with butcher block countertops, white upper cabinets, black lower cabinets, a farmhouse sink, stainless steel appliances, a custom herringbone backsplash, and a center island. The renovated bathroom includes patterned tile flooring, a modern vanity, matte black fixtures, and a fully tiled walk-in shower with glass doors. The home offers four bedrooms, three with comfortable space and one suitable as an office or flex room with updated flooring and neutral paint. The finished basement provides a secondary living option, suitable for a den, theater room, office, gym, or recreation space, and features recessed lighting and new carpet. The metal garage/shop offers space for vehicles, equipment, hobbies, or small business use. The property is located minutes from Monticello, restaurants, Walmart, shopping, schools, and essential services.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Restaurant Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Auto Repair Shop Nail Salon Hotel & Motel Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monticello
    County
    Wayne
    State
    Kentucky
    Longitude
    -84.829989
    Latitude
    36.862546

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    FAQs

    What type of property is this?
    Farm - Updated farmhouse on 2.15 acres with a detached garage/shop.
    Where is this farm located?
    The property is located at 875 Highway 3106 Monticello, KY.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: - Unrestricted 2.15 +/- acre property offering exceptional usable land.; - Brand-new 30x38 detached garage/shop with half bath, ideal for vehicles, hobbies, or small business use.; - Completely remodeled kitchen with butcher block countertops, stainless steel appliances, farmhouse sink, and custom herringbone backsplash.
    (606) 575-9670
    Request Owner's contact information
    875 Highway 3106 Monticello, KY 42633
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    Monticello, KY 42633
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    875 Highway 3106 Monticello, KY 42633
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    We can help!
    Listing Contact
    Dylan Jones
    (606) 575-9670
    Learn more
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