New Construction Duplex with
New
For Sale
$580,000
158 Shirley Boulevard, Vine Grove, KY 40175
SINGLE_FAMILY - Vine Grove, KY
Property Size3,200 SF
Price / SF$181.25
Days on Market5
Property Features for 158 Shirley Boulevard
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 1, Bathroom 4, Bedroom 4, Bathroom 2, Bedroom 2
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Walk-in Closet(s)
Exterior features
Covered Front Porch
Appliances
Smoke Detector(s)
Subdivision
Vineland Park
Lot features
Sidewalks
Directions
From US-31 W turn onto KY-313 N, towards Vine Grove. Turn left onto Highland Ave, turn right onto Shirley Blvd.
Standard status
Active
Size
3,200 SF
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
granite countertops
tile backsplash
stainless steel appliances
walk-in closet
en-suite bathroom
side patio
attached storage unit
separated driveways
Building Details
Year built
2026
Flooring type
Laminate
Roof type
Shingle
Architectural style
Ranch, Other
Listing Agency:
Keller Williams Collective · Keller Williams Realty
(502) 554-9500
Listed By:
Lisa Smith · License #220813
(502) 475-1722
Added: Aug 7
Last Checked: Aug 11 at 7:06PM
MLS# HK2603304
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 3,200-square-foot duplex is under construction with a planned 2026 completion year. Each ranch-style residence includes three bedrooms, two bathrooms, a two-car attached garage, and its own driveway. The units share an attached rear storage area, while side patios and covered front porches provide additional exterior space.
Interior details include granite kitchen countertops, tile backsplash, stainless steel appliances, laminate flooring, forced-air heating, central air, ceiling fans, and walk-in closets. Each primary bedroom includes a private en-suite bathroom. The property is served by public water and is located on Shirley Boulevard in Vine Grove, Kentucky.
Interior details include granite kitchen countertops, tile backsplash, stainless steel appliances, laminate flooring, forced-air heating, central air, ceiling fans, and walk-in closets. Each primary bedroom includes a private en-suite bathroom. The property is served by public water and is located on Shirley Boulevard in Vine Grove, Kentucky.
Key Highlights
- 3,200 SF duplex under construction with 2026 year built
- Two residences, each with 3 bedrooms and 2 bathrooms
- Each unit includes a 2‑car attached garage
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
$27,579
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
4.76%
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%
$551,580
$551.6K
Cap Rate 7%
$393,986
$394.0K
Cap Rate 9%
$306,433
$306.4K
Market Conditions
NOI Build-Up for 3,200 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
$41.5K $12.96/SF
− Vacancy
−$2.1K −$0.65/SF
EGI
$39.4K $12.31/SF
− OpEx
−$11.8K −$3.69/SF
NOI
$27.6K $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%
$551,580
Cap Rate 7%
$393,986
Cap Rate 9%
$306,433
Alternative Uses
Best Use
Multifamily LT 5
$394.0K
$344.7K – $459.7K
NOI $27,579 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$365.9K
$320.2K – $426.9K
NOI $25,615 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$579.3K
$506.9K – $675.8K
NOI $40,550 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Explore this area
Business Placement
Demographics for 40175, KY
15,338
Population
6,630
Households
2.3
Avg Household Size
39
Median Age
27%
College-Educated
95%
High-School Grad
80.7 sq mi
ZIP Area
190
Density / Sq Mi
$75,156
Median Household Income
$40,292
Median Earnings
$1,258
Median Rent
$205,500
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 - Newly constructed duplex with separate driveways, attached garages, and private patios.
Where is this duplex located?
The property is located at 158 Shirley Boulevard Vine Grove, KY.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 3,200 SF duplex under construction with 2026 year built; Two residences, each with 3 bedrooms and 2 bathrooms; Each unit includes a 2‑car attached garage
