Updated Two-Unit
For Sale
$270,000
Pending
21 Beckner St, Winchester, KY 40391
Two renovated residences offer three bedrooms, two full baths, and durable hardwood and tile finishes.
Property Size3,090 SF
Days on Market31
Property Features for 21 Beckner St
General Information
Standard status
Pending
Size
3,090 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Listing Agency:
United Real Estate Bluegrass
(859) 285-9094
Listed By:
Rex Hall
(859) 285-9094
Source:
Exprealty
Added: Jul 22
Changed: Aug 20
Last Checked: Aug 20 at 12:04PM
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 United Real Estate Bluegrass
Investment Insights
Based on property information with market context.
This 3,090-square-foot duplex contains two residences, each measuring approximately 1,545 square feet with three bedrooms and two full bathrooms. Both units have received extensive updates, including newer HVAC systems, roof, windows, doors, vinyl siding, stainless steel appliances, and interior paint. Hardwood flooring serves the primary living areas, while tile is used in wet areas.
The property is located at 21 Beckner St in Winchester, within walking distance of College Park and historic downtown Winchester. I-64, shopping, restaurants, schools, and everyday amenities are also accessible from the property.
The two-unit layout supports separate residential occupancy, with each unit offering a spacious three-bedroom, two-bath configuration and updated interior finishes.
The property is located at 21 Beckner St in Winchester, within walking distance of College Park and historic downtown Winchester. I-64, shopping, restaurants, schools, and everyday amenities are also accessible from the property.
The two-unit layout supports separate residential occupancy, with each unit offering a spacious three-bedroom, two-bath configuration and updated interior finishes.
Key Highlights
- Two‑unit duplex totaling 3,090 square feet
- Each unit is approximately 1,545 square feet with 3 bedrooms and 2 full bathrooms
- Updates include HVAC systems, roof, windows, doors, vinyl siding, appliances, and interior paint
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
$23,591
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
8.74%
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%
$471,820
$471.8K
Cap Rate 7%
$337,014
$337.0K
Cap Rate 9%
$262,122
$262.1K
Market Conditions
NOI Build-Up for 3,090 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
$44.9K $14.52/SF
− Vacancy
−$2.0K −$0.64/SF
EGI
$42.9K $13.88/SF
− OpEx
−$19.3K −$6.25/SF
NOI
$23.6K $7.63/SF
Area
Clark County, KY
Vacancy
4.40%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
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%
$471,820
Cap Rate 7%
$337,014
Cap Rate 9%
$262,122
Alternative Uses
Best Use
Multifamily LT 5
$376.6K
$329.5K – $439.4K
NOI $26,363 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$337.0K
$294.9K – $393.2K
NOI $23,591 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$783.1K
$685.2K – $913.7K
NOI $54,819 @ 7.0% cap · market cap 20.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Explore this area
Business Placement
Demographics for 40391, KY
36,461
Population
16,125
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
90%
High-School Grad
237.3 sq mi
ZIP Area
154
Density / Sq Mi
$67,910
Median Household Income
$40,323
Median Earnings
$884
Median Rent
$197,200
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?
Duplex - Two renovated residences offer three bedrooms, two full baths, and durable hardwood and tile finishes.
Where is this duplex located?
The property is located at 21 Beckner St Winchester, KY.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,090 square feet; Each unit is approximately 1,545 square feet with 3 bedrooms and 2 full bathrooms; Updates include HVAC systems, roof, windows, doors, vinyl siding, appliances, and interior paint
