Building Details

Year Built 1975

Buildings 2

Listing Agency: Demaree & Hubbard

Listed By: Key Associates Signature Realty Show Phone

Source: Keyassociates

Added: Sep 18 Changed: Sep 21 Last Checked: Sep 21 at 6:10AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Demaree & Hubbard

Investment Insights

Based on property information with market context.

This multifamily property includes two remodeled homes on one lot at 114 and 116 Hardin Ct. The residences total 1,923 square feet and retain separate utility metering. Both feature updated interiors with neutral finishes and flexible bonus areas that expand their usable layout options.

The larger home provides just under 1,100 square feet with one bedroom, one bathroom, and a bonus area with a walk-in closet. The second residence contains 850 square feet, one bedroom, one bathroom, and a bonus or loft space. Both homes are currently occupied under month-to-month arrangements and are located 5 miles from Taylorsville Lake.

Key Highlights

• Two remodeled homes on one lot
• 1,923 square feet combined
• 114 Hardin Ct. offers just under 1,100 sq. ft. with 1 bedroom and 1 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

$17,391

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

6.44%

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%

$347,820 $347.8K

Cap Rate 7%

$248,443 $248.4K

Cap Rate 9%

$193,233 $193.2K

Market Conditions

NOI Build-Up for 1,923 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

$33.5K $17.40/SF

− Vacancy

−$1.8K −$0.96/SF

EGI

$31.6K $16.44/SF

− OpEx

−$14.2K −$7.40/SF

NOI

$17.4K $9.04/SF

Area

Spencer County, KY

Vacancy

5.50%

Lease Rate

$17.40 /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%

$347,820

Cap Rate 7%

$248,443

Cap Rate 9%

$193,233

Alternative Uses

Best Use

Apartment 5plus

$248.4K

$217.4K – $289.9K (±1% cap)

NOI $17,391 @ 7.0% cap · market cap 6.44%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$405.4K

$354.7K – $473.0K (±1% cap)

NOI $28,378 @ 7.0% cap · market cap 10.51%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick HVAC Service Electrical Service Carpet & Flooring Store (Bike/Boat/Book/etc) Store Butcher Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

212

Businesses Nearby

Explore this area Business Placement

Demographics for 40071, KY

16,106

Population

6,264

Households

2.6

Avg Household Size

42

Median Age

21%

College-Educated

93%

High-School Grad

121.3 sq mi

ZIP Area

133

Density / Sq Mi

$97,349

Median Household Income

$45,121

Median Earnings

$941

Median Rent

$297,900

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Remodeled Duplex Property

114 Hardin Ct, Taylorsville, KY 40071

$269,999

1,923 SF

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Farm with Residence

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Frequently Asked Questions

What type of property is this?

Multifamily property - Remodeled, separately metered residences offer flexible layouts and current month-to-month occupancy near Taylorsville Lake.

Where is this multifamily property located?

The property is located at 114 Hardin Ct Taylorsville, KY.

What is the asking price?

The asking price for this property is $269,999.

What are key features of this property?

This property features: Two remodeled homes on one lot; 1,923 square feet combined; 114 Hardin Ct. offers just under 1,100 sq. ft. with 1 bedroom and 1 bath