3-Unit Triplex with Rear
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 Market34
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
Bathroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Kitchen
Parking features
Driveway
Fencing
Chain Link
Appliances
Refrigerator, Cooktop, 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
Changed: Oct 2
Last Checked: Oct 5 at 3:06AM
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 2,592-square-foot brick triplex contains three apartments, all currently rented. The ground-floor unit has a living room, kitchen, and bathroom. Each of the two upstairs apartments includes a bedroom, living room, kitchen, and bathroom. A large deck extends behind the building.
The property occupies a 0.29-acre lot at 135 E Broadway Street in Winchester, Kentucky. Building features include ceramic tile and carpet flooring, baseboard heat, window-unit cooling, and a shingle roof. Public water and sewer serve the property, and driveway parking is provided. A chain-link fence is also present.
The property occupies a 0.29-acre lot at 135 E Broadway Street in Winchester, Kentucky. Building features include ceramic tile and carpet flooring, baseboard heat, window-unit cooling, and a shingle roof. Public water and sewer serve the property, and driveway parking is provided. A chain-link fence is also present.
Key Highlights
- Three apartments, all currently rented
- 2,592‑square‑foot brick triplex on a 0.29‑acre lot
- Ground‑floor apartment with 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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
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 - All three apartments are rented, and the upper units each include a bedroom, living room, kitchen, and bathroom.
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: Three apartments, all currently rented; 2,592‑square‑foot brick triplex on a 0.29‑acre lot; Ground‑floor apartment with living room, kitchen, and bathroom
