Unrestricted Lake-Ready Cabin
For Sale
$59,900
10608 Hwy 196, Nancy, KY 42544
LAND - Nancy, KY
Property Size600 SF
Lot Size0.50 Acres
Price / SF$99.83
Days on Market117
Property Features for 10608 Hwy 196
General Information
Property type
Land
Property subtype
Other
Subdivision
Rural
Directions
From Cumberland Parkway and Nancy Exit Go east on 80 and turn right on Hwy 3262 Turn right onto State Hwy 3262 3.0 mi Turn right onto KY-196 W 6.0 mi Destination will be on the right
Standard status
Active
APN
081-00-00-003.00
Lot size
0.50 Acres
Listing Agency:
Weichert Realtors Ford Brothers, Inc.
(606) 679-2656
Listed By:
Darren Gossage · License #275887
(270) 585-3334
Added: Apr 29
Changed: Aug 10
Last Checked: Aug 23 at 8:06AM
MLS# 26009429
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 property consists of an unrestricted 0.50-acre lot featuring a 600-square-foot cabin that is partially finished. The cabin is framed and ready for completion, with a functional layout designed for 2 bedrooms and 1 full bath. Interior highlights include soaring sloped ceilings and natural light. The structure also includes documented upgrades such as 2x10 roof rafters, premium windows, and modern exterior doors, providing a solid base for finishing to the buyer’s specifications.
The site fronts Hwy 196 and is located in Jabez, in Russell County near Nancy, Kentucky. The lot is described as cleared, offering straightforward access and flexible space for parking and outdoor storage. The remarks note that the property is just minutes from Lake Cumberland, with access to multiple boat ramps and Wolf Creek Marina in the surrounding area.
For buyers and investors, the combination of an unrestricted lot and a head-start on the cabin build can fit multiple living and recreation plans, including finishing the cabin for personal use, or completing it as a vacation rental or full-time residence. The cleared grounds also support practical use cases such as parking an RV or camper and storing boats, trailers, and outdoor equipment.
The site fronts Hwy 196 and is located in Jabez, in Russell County near Nancy, Kentucky. The lot is described as cleared, offering straightforward access and flexible space for parking and outdoor storage. The remarks note that the property is just minutes from Lake Cumberland, with access to multiple boat ramps and Wolf Creek Marina in the surrounding area.
For buyers and investors, the combination of an unrestricted lot and a head-start on the cabin build can fit multiple living and recreation plans, including finishing the cabin for personal use, or completing it as a vacation rental or full-time residence. The cleared grounds also support practical use cases such as parking an RV or camper and storing boats, trailers, and outdoor equipment.
Key Highlights
- 0.50‑acre unrestricted lot on Hwy. 196 in Jabez
- 600‑SF cabin is partially finished—framed and ready for you to complete
- Floor plan designed for 2 bedrooms and 1 full bath
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
$4,076
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
6.80%
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%
$81,520
$81.5K
Cap Rate 7%
$58,229
$58.2K
Cap Rate 9%
$45,289
$45.3K
Market Conditions
NOI Build-Up for 600 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
$7.8K $12.96/SF
− Vacancy
−$365 −$0.61/SF
EGI
$7.4K $12.35/SF
− OpEx
−$3.3K −$5.56/SF
NOI
$4.1K $6.79/SF
Area
Pulaski County, KY
Vacancy
4.70%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
45.00%
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%
$81,520
Cap Rate 7%
$58,229
Cap Rate 9%
$45,289
Alternative Uses
Best Use
Apartment 5plus
$58.2K
$51.0K – $67.9K
NOI $4,076 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$102.2K
$89.4K – $119.3K
NOI $7,155 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 42544, KY
5,787
Population
3,665
Households
1.6
Avg Household Size
49
Median Age
19%
College-Educated
86%
High-School Grad
142.2 sq mi
ZIP Area
41
Density / Sq Mi
$55,379
Median Household Income
$30,509
Median Earnings
$727
Median Rent
$157,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Unrestricted half-acre lot with a framed, partially finished 600 SF cabin off Hwy 196.
Where is this residential land & home lot located?
The property is located at 10608 Hwy 196 Nancy, KY.
What is the asking price?
The asking price for this property is $59,900.
What are key features of this property?
This property features: 0.50‑acre unrestricted lot on Hwy. 196 in Jabez; 600‑SF cabin is partially finished—framed and ready for you to complete; Floor plan designed for 2 bedrooms and 1 full bath
