New Construction
For Sale
$199,000
314 Park Ave, Somerset, KY 42503
Two-bedroom, two-bath layout includes a finished basement plan, attached garage, and flexible bonus space.
Property Size1,500 SF
Price / SF$132.67
Days on Market28
Property Features for 314 Park Ave
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
attached garage
finished basement
Building Details
Year Built
2025
Buildings
1
Listing Agency:
Premier Properties Of Lake Cumberland, Inc
(606) 872-8644
Listed By:
Lillian Dick
(606) 872-8644
Source:
Reliance1realty
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 26 at 12:53PM
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 Premier Properties Of Lake Cumberland, Inc
Investment Insights
Based on property information with market context.
Built in 2025, this duplex offers 1,500 square feet with two bedrooms and two full bathrooms. The layout includes modern finishes and an attached garage. A basement adds usable space, with a larger room that may serve as a third bedroom subject to buyer verification, plus a separate flex room suited to office, hobby, or storage use.
The basement floor will be completed before closing, with waterproof vinyl flooring added upon an accepted offer and color selection available to the buyer. An adjacent duplex is also available and may be purchased with this property for multi-unit ownership.
The basement floor will be completed before closing, with waterproof vinyl flooring added upon an accepted offer and color selection available to the buyer. An adjacent duplex is also available and may be purchased with this property for multi-unit ownership.
Key Highlights
- 2025 construction with 1,500 square feet of living space
- Two bedrooms and two full bathrooms
- Finished basement includes a large room and additional flex room
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
$11,436
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
5.75%
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%
$228,720
$228.7K
Cap Rate 7%
$163,371
$163.4K
Cap Rate 9%
$127,067
$127.1K
Market Conditions
NOI Build-Up for 1,500 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
$17.1K $11.40/SF
− Vacancy
−$763 −$0.51/SF
EGI
$16.3K $10.89/SF
− OpEx
−$4.9K −$3.27/SF
NOI
$11.4K $7.62/SF
Area
Pulaski County, KY
Vacancy
4.46%
Lease Rate
$11.40 /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%
$228,720
Cap Rate 7%
$163,371
Cap Rate 9%
$127,067
Alternative Uses
Best Use
Multifamily LT 5
$163.4K
$143.0K – $190.6K
NOI $11,436 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$145.6K
$127.4K – $169.8K
NOI $10,189 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$255.5K
$223.6K – $298.1K
NOI $17,888 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
514
Businesses Nearby
Explore this area
Business Placement
Demographics for 42503, KY
24,670
Population
11,588
Households
2.1
Avg Household Size
42
Median Age
23%
College-Educated
85%
High-School Grad
129.5 sq mi
ZIP Area
191
Density / Sq Mi
$53,377
Median Household Income
$35,319
Median Earnings
$873
Median Rent
$198,500
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 - Two-bedroom, two-bath layout includes a finished basement plan, attached garage, and flexible bonus space.
Where is this duplex located?
The property is located at 314 Park Ave Somerset, KY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 2025 construction with 1,500 square feet of living space; Two bedrooms and two full bathrooms; Finished basement includes a large room and additional flex room
