Brick Triplex with Three
New
For Sale
$350,000
135 E Broadway Street, Winchester, KY 40391
Residential, Winchester, KY
Property Size2,592 SF
Lot Size0.29 Acres
Price / SF$135.03
Days on Market4
Property Features for 135 E Broadway Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Kitchen, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 3
Parking features
Driveway
Fencing
Chain Link
Appliances
Refrigerator, Cooktop
Elementary school
Shearer
Middle school
Robert Campbell
High school
GRC
Elementary school district
Clark County - 7
Middle school district
Clark County - 7
High school district
Clark County - 7
Directions
From Main Street in Winchester turn on East Broadway. Apartments will be on the left.
Subdivision
007 - Clark County
Standard status
Active
APN
054-3228-004-00
Size
2,592 SF
Lot size
0.29 Acres
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Public
Amenities
deck
Building Details
Flooring type
Tile - Ceramic, Carpet
Building materials
Brick
Roof type
Shingle
Listing Agency:
Dream Maker Realty, LLC
(859) 404-3384
Listed By:
Dale Hatton
(859) 556-0330
Added: Sep 2
Last Checked: Sep 5 at 10:06AM
MLS# 26024167
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 brick triplex contains 2,592 square feet on a 0.29-acre lot in Winchester. The lower apartment includes a large living room, kitchen, and bathroom. Each of the two upper apartments adds a living room, kitchen, bathroom, and bedroom, creating three distinct residential units. All three apartments are currently rented.
The property includes a rear deck, driveway, chain-link fencing, shingle roofing, ceramic tile and carpet flooring, baseboard heat, and window-unit cooling. Refrigerators and cooktops are included. Public water and public sewer serve the property, and the address is 135 E Broadway Street in Winchester, KY 40391.
The property includes a rear deck, driveway, chain-link fencing, shingle roofing, ceramic tile and carpet flooring, baseboard heat, and window-unit cooling. Refrigerators and cooktops are included. Public water and public sewer serve the property, and the address is 135 E Broadway Street in Winchester, KY 40391.
Key Highlights
- Triplex with 3 apartments, all currently rented
- 2,592 square feet on a 0.29‑acre lot
- Lower unit includes large living room, kitchen, and bathroom
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
$22,114
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
6.32%
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%
$442,280
$442.3K
Cap Rate 7%
$315,914
$315.9K
Cap Rate 9%
$245,711
$245.7K
Market Conditions
NOI Build-Up for 2,592 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
$33.0K $12.72/SF
− Vacancy
−$1.4K −$0.53/SF
EGI
$31.6K $12.19/SF
− OpEx
−$9.5K −$3.66/SF
NOI
$22.1K $8.53/SF
Area
Clark County, KY
Vacancy
4.18%
Lease Rate
$12.72 /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%
$442,280
Cap Rate 7%
$315,914
Cap Rate 9%
$245,711
Alternative Uses
Best Use
Multifamily LT 5
$315.9K
$276.4K – $368.6K
NOI $22,114 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$282.7K
$247.4K – $329.8K
NOI $19,789 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$656.9K
$574.8K – $766.4K
NOI $45,984 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
627
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three rented units provide separate living areas, kitchens, and bathrooms, plus a rear deck and driveway access.
Where is this triplex located?
The property is located at 135 E Broadway Street Winchester, KY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Triplex with 3 apartments, all currently rented; 2,592 square feet on a 0.29‑acre lot; Lower unit includes large living room, kitchen, and bathroom
