Building Details

Year Built 1992

Listing Agency: Schuler Bauer Real Estate Services ERA Powered (N

Listed By: Tammy Hogan Show Phone

Source: Xome

Added: Apr 3, 2022 Changed: Sep 1 Last Checked: Sep 4 at 2:09AM

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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 Schuler Bauer Real Estate Services ERA Powered (N

Investment Insights

Based on property information with market context.

This duplex is laid out with two complete residential units. Each side offers three bedrooms and two full bathrooms, plus a 1-car garage and additional parking. The main level includes the main bedroom, kitchen, and living room, while the top floor provides two bedrooms per side along with a full bathroom.

The lower level/basement on each side includes a 1-car garage, a family room, and a laundry area, adding functional living space beyond the upper floors. Current leases are in place, and additional information can be provided as needed.

From a configuration standpoint, the property provides repeating unit layouts with dedicated garages and laundry space within each side, supporting steady occupancy under the existing leases.

Key Highlights

• Duplex built in 1992 with each side offering 3 bedrooms and 2 full bathrooms
• Each side includes a 1‑car garage plus additional parking
• Basements include 3 areas, with a family room and laundry area noted

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

$34,636

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

8.06%

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%

$692,720 $692.7K

Cap Rate 7%

$494,800 $494.8K

Cap Rate 9%

$384,844 $384.8K

Market Conditions

NOI Build-Up for 4,404 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

$53.4K $12.12/SF

− Vacancy

−$3.9K −$0.88/SF

EGI

$49.5K $11.24/SF

− OpEx

−$14.8K −$3.37/SF

NOI

$34.6K $7.86/SF

Area

Floyd County, IN

Vacancy

7.30%

Lease Rate

$12.12 /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%

$692,720

Cap Rate 7%

$494,800

Cap Rate 9%

$384,844

Alternative Uses

Best Use

Multifamily LT 5

$494.8K

$433.0K – $577.3K (±1% cap)

NOI $34,636 @ 7.0% cap · market cap 8.06%

Second Best

Apartment 5plus

$445.5K

$389.8K – $519.8K (±1% cap)

NOI $31,187 @ 7.0% cap · market cap 7.25%

Theoretical Best

Specialty Retail

$3.18M

$2.79M – $3.71M (±1% cap)

NOI $222,828 @ 7.0% cap · market cap 51.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Hair Salon Nail Salon Spa & Massage Center Gym & Fitness Center

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

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

79

Businesses Nearby

Explore this area Business Placement

Demographics for 47119, IN

12,173

Population

4,635

Households

2.6

Avg Household Size

43

Median Age

45%

College-Educated

97%

High-School Grad

41.7 sq mi

ZIP Area

292

Density / Sq Mi

$118,093

Median Household Income

$50,145

Median Earnings

$1,280

Median Rent

$321,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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

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Frequently Asked Questions

What type of property is this?

Duplex - Each side features 3 bedrooms, 2 full bathrooms, and a 1-car garage, with additional parking and current leases in place.

Where is this duplex located?

The property is located at 4607-4609 Brush College Road Floyds Knobs, IN.

What is the asking price?

The asking price for this property is $429,900.

What are key features of this property?

This property features: Duplex built in 1992 with each side offering 3 bedrooms and 2 full bathrooms; Each side includes a 1‑car garage plus additional parking; Basements include 3 areas, with a family room and laundry area noted