3-Unit Two-Story
192 Fairway Ln, Somerset, KY 42503
For Sale
New
$525,000
Each residence has two bedrooms and one-and-a-half baths, and all three are occupied.
Property Size3,600 SF
Price / SF$145.83
Days on Market2
Property Features for 192 Fairway Ln
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Highway Access
Road Access
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
washer/dryer hookups
Building Details
Year Built
Buildings
Stories
Listing Agency:
Keller Williams Legacy Group
Listed By:
The Catalyst Group · License #220577
(859) 363-6001
Source:
Catalystsold
Added: Nov 8
Last Checked: Nov 8 at 4:44AM
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 Keller Williams Legacy Group
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Investment Insights
Based on property information with market context.
Completed in 2023, this two-story triplex contains three residences, each with two bedrooms, one-and-a-half baths, 9-foot ceilings, and washer/dryer hookups. Newer appliances are included, and all three units are occupied. The property is situated at the end of a residential street and has golf course views.
Highways, downtown Somerset, schools, shopping, dining, and Lake Cumberland Regional Hospital are each less than one mile away.
Highways, downtown Somerset, schools, shopping, dining, and Lake Cumberland Regional Hospital are each less than one mile away.
Key Highlights
- Built in 2023
- Three two‑story units, each with 2 bedrooms and 1.5 baths
- 9‑foot ceilings and washer/dryer hookups in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,447
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$548,940
$548.9K
Cap Rate 7%
$392,100
$392.1K
Cap Rate 9%
$304,967
$305.0K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$41.0K $11.40/SF
− Vacancy
−$1.8K −$0.51/SF
EGI
$39.2K $10.89/SF
− OpEx
−$11.8K −$3.27/SF
NOI
$27.4K $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 Rate 5%
$548,940
Cap Rate 7%
$392,100
Cap Rate 9%
$304,967
Alternative Uses
Best Use
Multifamily LT 5
$392.1K
$343.1K – $457.5K
NOI $27,447 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$349.4K
$305.7K – $407.6K
NOI $24,455 @ 7.0% cap · market cap 4.66%
Theoretical Best
Specialty Retail
$613.3K
$536.7K – $715.5K
NOI $42,932 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
188
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence has two bedrooms and one-and-a-half baths, and all three are occupied.
Where is this triplex located?
The property is located at 192 Fairway Ln Somerset, KY.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Built in 2023; Three two‑story units, each with 2 bedrooms and 1.5 baths; 9‑foot ceilings and washer/dryer hookups in each unit
