Updated Two-Unit
For Sale
$270,000
Pending
21 Beckner St, Winchester, KY 40391
Renovated interiors and major system upgrades offer flexible ownership near College Park and historic downtown Winchester.
Property Size3,090 SF
Days on Market51
Property Features for 21 Beckner St
General Information
Standard status
Pending
Size
3,090 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1940
Listing Agency:
United Real Estate Bluegrass
(859) 721-2200
Listed By:
Rex Hall
Source:
Centralkyhomefinder
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 28 at 9:12PM
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 1940 duplex contains two residential units, each offering approximately 1,545 square feet with three bedrooms and two full bathrooms. The interiors combine hardwood flooring in the main living areas with tile in wet areas. Renovations and replacements include HVAC systems, roofing, stainless steel appliances, windows, doors, vinyl siding, and interior paint. The property is positioned for an owner-occupant arrangement or continued use as a two-unit rental property.
Located within walking distance of College Park and historic downtown Winchester, the duplex also provides access to I-64, shopping, restaurants, schools, and everyday amenities. Its two-unit layout and substantial updates support a straightforward residential income property configuration.
Located within walking distance of College Park and historic downtown Winchester, the duplex also provides access to I-64, shopping, restaurants, schools, and everyday amenities. Its two-unit layout and substantial updates support a straightforward residential income property configuration.
Key Highlights
- Two units, each approximately 1,545 square feet with 3 bedrooms and 2 full bathrooms
- Major improvements include HVAC systems, roof, windows, doors, and vinyl siding
- Stainless steel appliances and fresh interior paint included
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 - Renovated interiors and major system upgrades offer flexible ownership near College Park and historic downtown Winchester.
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 units, each approximately 1,545 square feet with 3 bedrooms and 2 full bathrooms; Major improvements include HVAC systems, roof, windows, doors, and vinyl siding; Stainless steel appliances and fresh interior paint included
