Duplex with Screened
For Sale
$226,000
Pending
148 Applewood Lane, Elizabethtown, KY 42701
Residential/Farm, Duplex, Ranch, Elizabethtown, KY
Property Size1,192 SF
Lot Size0.35 Acres
Days on Market58
Property Features for 148 Applewood Lane
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Closet Light(s), Vaulted Ceiling(s), Walk-in Closet(s)
Exterior features
Concrete Walks, Enclosed Patio, Landscaping, Mature Trees, Storage Shed
Subdivision
Applewood
Lot features
Sidewalks, Subdivision
Elementary school
New Highland
Middle school
Bluegrass
High school
John Hardin
Directions
From Dixie Hwy: Turn onto W.A. Jenkins Rd. Turn LEFT onto Applewood Ln. Home will be on the RIGHT.
Standard status
Pending
Size
1,192 SF
Lot size
0.35 Acres
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Amenities
screened-in porch
storage shed
vaulted ceilings
breakfast bar
Building Details
Year built
2007
Flooring type
Carpet, Vinyl
Roof type
Shingle
Architectural style
Ranch, Other
Additional Structures
Storage
Listing Agency:
Elyon Realty
(270) 300-5221
Listed By:
Jadelene Flynn
(270) 300-5221
Added: Jul 6
Changed: Aug 28
Last Checked: Sep 1 at 9:06PM
MLS# HK2602808
Copyright © 2026 Heart of Kentucky Association of Realtors. 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 2007 ranch-style duplex offers 1,192 square feet with two bedrooms and two bathrooms. The interior combines vaulted ceilings, natural light, updated flooring, and an open arrangement connecting the living, dining, and kitchen areas. The kitchen includes substantial cabinetry, generous counter space, and a breakfast bar. A primary suite has a private bathroom and walk-in closet, while the additional bedroom can serve guests or other household needs. Heating is provided by a heat pump, with central air for cooling.
Outdoor features include a screened porch, enclosed patio, concrete walks, landscaping, mature trees, and an oversized backyard on 0.35 acres. A storage shed adds space for tools, lawn equipment, and seasonal belongings. The property is near Fort Knox, Radcliff, downtown Elizabethtown, shopping, dining, schools, parks, and major commuter routes.
Outdoor features include a screened porch, enclosed patio, concrete walks, landscaping, mature trees, and an oversized backyard on 0.35 acres. A storage shed adds space for tools, lawn equipment, and seasonal belongings. The property is near Fort Knox, Radcliff, downtown Elizabethtown, shopping, dining, schools, parks, and major commuter routes.
Key Highlights
- 2‑bedroom, 2‑bath duplex with 1,192 square feet
- 0.35‑acre lot with an oversized backyard and mature trees
- Screened porch, enclosed patio, landscaping, and concrete walks
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
$10,273
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
4.55%
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%
$205,460
$205.5K
Cap Rate 7%
$146,757
$146.8K
Cap Rate 9%
$114,144
$114.1K
Market Conditions
NOI Build-Up for 1,192 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
$15.4K $12.96/SF
− Vacancy
−$772 −$0.65/SF
EGI
$14.7K $12.31/SF
− OpEx
−$4.4K −$3.69/SF
NOI
$10.3K $8.62/SF
Area
Hardin County, KY
Vacancy
5.00%
Lease Rate
$12.96 /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%
$205,460
Cap Rate 7%
$146,757
Cap Rate 9%
$114,144
Alternative Uses
Best Use
Multifamily LT 5
$146.8K
$128.4K – $171.2K
NOI $10,273 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$136.3K
$119.3K – $159.0K
NOI $9,542 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$215.8K
$188.8K – $251.8K
NOI $15,105 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
Explore this area
Business Placement
Demographics for 42701, KY
52,731
Population
23,565
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
94%
High-School Grad
161.8 sq mi
ZIP Area
326
Density / Sq Mi
$68,715
Median Household Income
$44,251
Median Earnings
$902
Median Rent
$235,500
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 - Ranch-style property with vaulted ceilings, an open living area, and an oversized backyard with mature trees.
Where is this duplex located?
The property is located at 148 Applewood Lane Elizabethtown, KY.
What is the asking price?
The asking price for this property is $226,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath duplex with 1,192 square feet; 0.35‑acre lot with an oversized backyard and mature trees; Screened porch, enclosed patio, landscaping, and concrete walks
