Four-Unit Quadplex with In-Unit
New
For Sale
$445,000
2043 Salisbury Drive, Bowling Green, KY 42101
Multi-Family, Bowling Green, KY
Property Size4,244 SF
Lot Size0.29 Acres
Price / SF$104.85
Days on Market4
Property Features for 2043 Salisbury Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
8
Full bathrooms
4
Half bathrooms
4
Rooms
Bedroom 4, Bedroom 3, Bathroom 4, Bathroom 7, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 6, Bedroom 7, Bathroom 8, Bedroom 1, Bathroom 5, Bathroom 2, Bedroom 8
Parking
8
Parking features
Parking Lot
Patio and Porch features
Patio
Exterior features
Patio, Storage Shed
Subdivision
Cedar Grove
Elementary school
Warren
Middle school
Henry F Moss
High school
Warren Central
Directions
From US-231 N to right onto Stonehenge Ave. to left onto Salisbury Ave.
Standard status
Active
Lot size
0.29 Acres
Amenities
in unit laundry
separately metered utilities
Building Details
Year built
1996
Number of units
4
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Keller Williams First Choice R · Keller Williams Realty
(270) 782-1811
Listed By:
Christina Vachon · License #203273
(270) 991-9278
Added: Aug 24
Changed: Aug 26
Last Checked: Aug 27 at 3:06AM
MLS# RA20265154
Copyright © 2026 REALTOR® Association of Southern Kentucky, Inc. 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.
Built in 1996, this quadplex contains four residences totaling 4,244 square feet. The property includes eight bedrooms, four full bathrooms, and four half bathrooms, with laundry facilities located within each unit. Separately metered utilities support distinct service arrangements for the residences. Exterior features include a patio, storage shed, shingle roofing, and a dedicated parking lot.
The property occupies 0.29 acres at 2043 Salisbury Drive in Bowling Green, Kentucky. Shopping, dining, and everyday amenities are located nearby. The unit count, bedroom and bathroom configuration, laundry setup, and on-site features provide a clear multifamily layout for review.
The property occupies 0.29 acres at 2043 Salisbury Drive in Bowling Green, Kentucky. Shopping, dining, and everyday amenities are located nearby. The unit count, bedroom and bathroom configuration, laundry setup, and on-site features provide a clear multifamily layout for review.
Key Highlights
- Four‑unit quadplex with 4,244 square feet of total living space
- 8 bedrooms, 4 full bathrooms, and 4 half bathrooms
- In‑unit laundry and separately metered utilities
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
$39,920
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
8.97%
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%
$798,400
$798.4K
Cap Rate 7%
$570,286
$570.3K
Cap Rate 9%
$443,556
$443.6K
Market Conditions
NOI Build-Up for 4,244 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
$60.6K $14.28/SF
− Vacancy
−$3.6K −$0.84/SF
EGI
$57.0K $13.44/SF
− OpEx
−$17.1K −$4.03/SF
NOI
$39.9K $9.41/SF
Area
Warren County, KY
Vacancy
5.90%
Lease Rate
$14.28 /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%
$798,400
Cap Rate 7%
$570,286
Cap Rate 9%
$443,556
Alternative Uses
Best Use
Multifamily LT 5
$570.3K
$499.0K – $665.3K
NOI $39,920 @ 7.0% cap · market cap 8.97%
Second Best
Apartment 5plus
$532.2K
$465.7K – $620.9K
NOI $37,254 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$937.3K
$820.2K – $1.09M
NOI $65,612 @ 7.0% cap · market cap 14.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 42101, KY
64,444
Population
26,062
Households
2.5
Avg Household Size
30
Median Age
20%
College-Educated
83%
High-School Grad
281.0 sq mi
ZIP Area
229
Density / Sq Mi
$49,045
Median Household Income
$26,564
Median Earnings
$905
Median Rent
$188,200
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?
Quadplex - Four residences offer separately metered utilities, a storage shed, patio space, and on-site parking.
Where is this quadplex located?
The property is located at 2043 Salisbury Drive Bowling Green, KY.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Four‑unit quadplex with 4,244 square feet of total living space; 8 bedrooms, 4 full bathrooms, and 4 half bathrooms; In‑unit laundry and separately metered utilities
