Two-Unit Duplex with
For Sale
$239,000
1128-1130 Dale Drive, Winchester, KY 40391
Residential Income, Winchester, KY
Property Size2,072 SF
Lot Size0.15 Acres
Price / SF$115.35
Days on Market245
Property Features for 1128-1130 Dale Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3
Parking
5
Subdivision
Hale Heights
High school
GRC
Elementary school district
Clark County - 7
Middle school district
Clark County - 7
High school district
Clark County - 7
Directions
Winchester Bypass to East on Fulton Road to Right on Dale Drive. Home is on the Left
Standard status
Active
APN
043-1005-018-00
Size
2,072 SF
Lot size
0.15 Acres
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1980
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Coldwell Banker McMahan
(859) 266-1800
Listed By:
Brian T Hatfield · License #193737
(859) 621-5853
Added: Jan 14
Changed: Sep 12
Last Checked: Sep 16 at 7:06AM
MLS# 26000922
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.
Built in 1980, this duplex contains 2,072 square feet across two separately configured units on a 0.15-acre parcel. Each residence includes a vaulted great room connected to the kitchen, two bedrooms, 1.5 baths, a laundry room, and a one-car garage. Both sides also have private rear yards with mature trees.
The property uses natural gas and forced-air heat, with window-unit cooling. The HVAC serving 1130 Dale Drive is new. The duplex is offered in its current condition, with inspections welcome. Located at 1128-1130 Dale Drive in Winchester, Kentucky, the property provides two residential units within a single multifamily asset.
The property uses natural gas and forced-air heat, with window-unit cooling. The HVAC serving 1130 Dale Drive is new. The duplex is offered in its current condition, with inspections welcome. Located at 1128-1130 Dale Drive in Winchester, Kentucky, the property provides two residential units within a single multifamily asset.
Key Highlights
- Two‑unit duplex totaling 2,072 square feet
- Each unit includes 2 bedrooms and 1.5 baths
- Separate one‑car garage for each side
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
$17,678
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
7.40%
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%
$353,560
$353.6K
Cap Rate 7%
$252,543
$252.5K
Cap Rate 9%
$196,422
$196.4K
Market Conditions
NOI Build-Up for 2,072 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
$26.4K $12.72/SF
− Vacancy
−$1.1K −$0.53/SF
EGI
$25.3K $12.19/SF
− OpEx
−$7.6K −$3.66/SF
NOI
$17.7K $8.53/SF
Area
Clark County, KY
Vacancy
4.18%
Lease Rate
$12.72 /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%
$353,560
Cap Rate 7%
$252,543
Cap Rate 9%
$196,422
Alternative Uses
Best Use
Multifamily LT 5
$252.5K
$221.0K – $294.6K
NOI $17,678 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$226.0K
$197.7K – $263.7K
NOI $15,819 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$525.1K
$459.5K – $612.7K
NOI $36,759 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 40391, KY
36,461
Population
16,125
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
90%
High-School Grad
237.3 sq mi
ZIP Area
154
Density / Sq Mi
$67,910
Median Household Income
$40,323
Median Earnings
$884
Median Rent
$197,200
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
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Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side duplex offering matching layouts, private wooded backyards, and separate one-car garages.
Where is this duplex located?
The property is located at 1128-1130 Dale Drive Winchester, KY.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,072 square feet; Each unit includes 2 bedrooms and 1.5 baths; Separate one‑car garage for each side
