Downtown Triplex with Updated
For Sale
$220,000
Pending
130 E Broadway Street, Winchester, KY 40391
Residential Income, Winchester, KY
Property Size2,445 SF
Lot Size0.17 Acres
Days on Market212
Property Features for 130 E Broadway Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Residential
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bedroom 4, Bathroom 3, Laundry Room, Bedroom 3, Bedroom 2, Bedroom 1
Parking features
Open
Subdivision
Downtown
High school
GRC
Elementary school district
Clark County - 7
Middle school district
Clark County - 7
High school district
Clark County - 7
Directions
From Main St, travel North, turn right on E Broadway, property will be on your right.
Standard status
Pending
APN
054-3229-003-00
Size
2,445 SF
Lot size
0.17 Acres
Utilities
Heating system
Zoned
Cooling system
Zoned, Multi Units, Central Air
Building Details
Year built
1940
Floors in Building
2
Number of units
3
Roof type
Shingle
Listing Agency:
Mayca Property Solutions
Listed By:
Sarah May · License #283971
(859) 667-3436
Added: Mar 7
Changed: Sep 20
Last Checked: Oct 5 at 6:06AM
MLS# 26004331
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 2,445-square-foot triplex contains two 1BD/1BA units and one 2BD/1BA unit. Two residences have been recently updated, while the third is occupied by a long-term tenant. The property is being offered as-is and includes zoned heating, multi-unit and central air cooling, an open parking area, and a shingle roof.
Located in downtown Winchester, the property occupies 0.17 acres and was built in 1940. Tenants pay utilities directly other than water, which is handled through a RUB system. The existing occupancy and defined unit mix provide a clear snapshot of the current residential income configuration.
Located in downtown Winchester, the property occupies 0.17 acres and was built in 1940. Tenants pay utilities directly other than water, which is handled through a RUB system. The existing occupancy and defined unit mix provide a clear snapshot of the current residential income configuration.
Key Highlights
- 2,445‑square‑foot triplex with three residential units
- Unit mix includes two 1BD/1BA apartments and one 2BD/1BA apartment
- Two units recently updated; third unit has a long‑term tenant
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
$18,667
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
8.49%
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%
$373,340
$373.3K
Cap Rate 7%
$266,671
$266.7K
Cap Rate 9%
$207,411
$207.4K
Market Conditions
NOI Build-Up for 2,445 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
$35.5K $14.52/SF
− Vacancy
−$1.6K −$0.64/SF
EGI
$33.9K $13.88/SF
− OpEx
−$15.3K −$6.25/SF
NOI
$18.7K $7.63/SF
Area
Clark County, KY
Vacancy
4.40%
Lease Rate
$14.52 /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%
$373,340
Cap Rate 7%
$266,671
Cap Rate 9%
$207,411
Alternative Uses
Best Use
Multifamily LT 5
$298.0K
$260.8K – $347.7K
NOI $20,860 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$266.7K
$233.3K – $311.1K
NOI $18,667 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$619.7K
$542.2K – $722.9K
NOI $43,376 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
630
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - The property combines two refreshed residences with an existing long-term tenancy.
Where is this triplex located?
The property is located at 130 E Broadway Street Winchester, KY.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 2,445‑square‑foot triplex with three residential units; Unit mix includes two 1BD/1BA apartments and one 2BD/1BA apartment; Two units recently updated; third unit has a long‑term tenant
