Multifamily Portfolio With
For Sale
$1,400,000
1223/1233 Clyde Elrod Avenue, Kevil, KY 42053
Residential Income, Kevil, KY
Property Size9,999 SF
Lot Size2.13 Acres
Price / SF$140.01
Days on Market182
Property Features for 1223/1233 Clyde Elrod Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
23
Bathrooms
16
Full bathrooms
16
Rooms
Bedroom 7, Bedroom 11, Bathroom 11, Bathroom 15, Bedroom 8, Bathroom 10, Bedroom 10, Laundry Room, Bedroom 5, Bathroom 13, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 18, Bedroom 9, Bathroom 5, Bedroom 4, Bedroom 19, Bedroom 14, Bathroom 16, Bedroom 15, Bedroom 23, Bathroom 14, Bathroom 7, Bedroom 2, Bedroom 16, Bedroom 17, Bedroom 20, Bedroom 12, Bedroom 3, Bathroom 3, Bathroom 9, Bedroom 21, Bathroom 12, Bedroom 1, Bathroom 6, Bathroom 8, Bathroom 1, Bedroom 13, Bedroom 22
Elementary school
Ballard Co
Middle school
Ballard Co
High school
Ballard Co High
Elementary school district
Ballard - 123
Middle school district
Ballard - 123
High school district
Ballard - 123
Directions
From Kentucky Oaks Mall, take US-60 East to Kevil. Turn right onto Clyde Elrod Ave. No sign up.
Subdivision
123 - Ballard County
Standard status
Active
Size
9,999 SF
Lot size
2.13 Acres
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Floors in Building
1
Number of units
12
Listing Agency:
Arnold Realty Group
(270) 558-1338
Listed By:
Jaime Abell · License #261465
(270) 703-0007
Added: Feb 25
Changed: Aug 24
Last Checked: Aug 26 at 10:06AM
MLS# 26017054
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 for-sale multifamily portfolio consists of five duplexes and two single-family homes, for a combined total of 12 units being sold together. Four units are configured as 2-bedroom, 2-bath units with a 1-car garage. One single-family dwelling offers a 2-bedroom, 1-bath layout with a 1-car garage, and the other single-family dwelling includes a 1-bedroom, 1-bath configuration. The remaining units are all 2-bedroom, 1-bath.
An on-site workshop is included and described as available for storage. The property is reported as very well maintained across the units.
The package totals approximately 9,999 square feet of property size on 2.13 acres, with the address listed at 1223/1233 Clyde Elrod Avenue in Kevil, Kentucky (Ballard County).
An on-site workshop is included and described as available for storage. The property is reported as very well maintained across the units.
The package totals approximately 9,999 square feet of property size on 2.13 acres, with the address listed at 1223/1233 Clyde Elrod Avenue in Kevil, Kentucky (Ballard County).
Key Highlights
- Investment package includes 5 duplexes and 2 single‑family homes sold together (12 total units)
- Unit mix: 4 units with 2 bedrooms, 2 bathrooms, and a 1‑car garage
- Unit mix: 1 single‑family home with 2 bedrooms, 1 bathroom, and a 1‑car garage
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
$90,241
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
6.45%
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%
$1,804,820
$1.8M
Cap Rate 7%
$1,289,157
$1.3M
Cap Rate 9%
$1,002,678
$1.0M
Market Conditions
NOI Build-Up for 9,999 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
$140.4K $14.04/SF
− Vacancy
−$11.5K −$1.15/SF
EGI
$128.9K $12.89/SF
− OpEx
−$38.7K −$3.87/SF
NOI
$90.2K $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%
$1,804,820
Cap Rate 7%
$1,289,157
Cap Rate 9%
$1,002,678
Alternative Uses
Best Use
Multifamily LT 5
$1.29M
$1.13M – $1.50M
NOI $90,241 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,032 @ 7.0% cap · market cap 5.86%
Theoretical Best
Warehouse
$2.08M
$1.82M – $2.43M
NOI $145,835 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 42053, KY
4,837
Population
2,172
Households
2.2
Avg Household Size
45
Median Age
21%
College-Educated
95%
High-School Grad
119.8 sq mi
ZIP Area
40
Density / Sq Mi
$70,617
Median Household Income
$41,328
Median Earnings
$889
Median Rent
$162,600
Median Home Value
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 - Package sale includes five duplexes and two single-family homes with a total of 12 units and on-site workshop storage.
Where is this duplex located?
The property is located at 1223/1233 Clyde Elrod Avenue Kevil, KY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Investment package includes 5 duplexes and 2 single‑family homes sold together (12 total units); Unit mix: 4 units with 2 bedrooms, 2 bathrooms, and a 1‑car garage; Unit mix: 1 single‑family home with 2 bedrooms, 1 bathroom, and a 1‑car garage
