Triplex with Rear
193 Fairway Lane, Somerset, KY 42503
For Sale
New
$525,000
Residential Income, Somerset, KY
Property Size3,600 SF
Lot Size0.97 Acres
Price / SF$145.83
Days on Market3
Property Features for 193 Fairway Lane
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Utilities
Heating system
Cooling system
Amenities
9-foot ceilings
washer/dryer hookups
rear balconies
Building Details
Year built
Floors in Building
Roof type
Buildings
Listing Agency:
CENTURY 21 Advantage Realty
(606) 451-1021
Listed By:
Kody Poloni
(606) 802-3232
Added: Nov 5
Changed: Nov 6
Last Checked: Nov 7 at 1:06PM
MLS# 26030672
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2023, this 3,600-square-foot triplex contains three two-story residences, each with two bedrooms and one-and-a-half bathrooms. The property sits on 0.97 acres and includes nine-foot ceilings, washer/dryer hookups, and rear balconies. Electric heat and heat-pump systems provide heating and cooling, with a shingle roof above the building.
The property is at the end of a residential street, with golf course views from the rear. Major highways, downtown Somerset, schools, shopping, dining, and Lake Cumberland Regional Hospital are each less than one mile away. All three residences are occupied.
The property is at the end of a residential street, with golf course views from the rear. Major highways, downtown Somerset, schools, shopping, dining, and Lake Cumberland Regional Hospital are each less than one mile away. All three residences are occupied.
Key Highlights
- Three occupied units, each with two bedrooms and 1.5 bathrooms
- Built in 2023; 3,600 square feet on 0.97 acres
- Two‑story residences feature 9‑foot ceilings and washer/dryer hookups
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?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
221
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
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
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied two-story residences each offer two bedrooms, one-and-a-half baths, and washer/dryer hookups.
Where is this triplex located?
The property is located at 193 Fairway Lane 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: Three occupied units, each with two bedrooms and 1.5 bathrooms; Built in 2023; 3,600 square feet on 0.97 acres; Two‑story residences feature 9‑foot ceilings and washer/dryer hookups
