New Construction
New
For Sale
$499,900
2300 Hovekamp Road, Paducah, KY 42003
Residential Income, Paducah, KY
Property Size2,778 SF
Lot Size0.42 Acres
Price / SF$179.95
Days on Market4
Property Features for 2300 Hovekamp Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Property condition
Under Construction
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Laundry Room, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 4
Elementary school
Reidland
Middle school
Reidland
High school
McCracken Co
Elementary school district
McCracken - 119
Middle school district
McCracken - 119
High school district
McCracken - 119
Directions
Take Exit 11 from I-24 West and turn right onto John Puryear Drive toward Paducah. Turn left onto Husbands Road (KY-2187). Drive 2.2 miles. Turn right onto Hovekamp Road. 2300 Hovekamp Road on right.
Subdivision
119 - McCracken County
Standard status
Active
Size
2,778 SF
Lot size
0.42 Acres
Utilities
Cooling system
Multi Units
Building Details
Year built
2026
Floors in Building
1
Number of units
4
Listing Agency:
HRE Advisors
(270) 705-5355
Listed By:
Kelly Hack · License #275758
(270) 331-4038
Added: Sep 19
Last Checked: Sep 22 at 12:06PM
MLS# 26025945
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.
Investment Insights
Based on property information with market context.
This 2,778-square-foot quadplex is under construction and includes four one-bedroom, one-bath apartments. The all-brick building is planned with polished concrete floors, recessed lighting, and open living areas. Each residence includes a kitchen with white shaker cabinets, granite countertops, black-matte fixtures, stainless steel appliances, a natural gas range, and a built-in microwave. Zoned ductless mini-split HVAC systems support efficient heating and cooling, while bathrooms feature light-oak slatted vanities, vessel sinks, black fixtures, and floor-to-ceiling faux-marble shower tile.
The property occupies 0.42 acres and includes a fully paved asphalt parking lot. All four units are scheduled to be delivered vacant, providing space for tenant placement following completion. The construction year is identified as 2026, and the property is located at 2300 Hovekamp Road in Paducah, Kentucky.
The property occupies 0.42 acres and includes a fully paved asphalt parking lot. All four units are scheduled to be delivered vacant, providing space for tenant placement following completion. The construction year is identified as 2026, and the property is located at 2300 Hovekamp Road in Paducah, Kentucky.
Key Highlights
- Four 1‑bedroom, 1‑bathroom units in a 2,778‑square‑foot quadplex
- Under construction with a stated 2026 construction year
- All‑brick exterior and fully paved asphalt parking lot
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
$25,072
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
5.02%
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%
$501,440
$501.4K
Cap Rate 7%
$358,171
$358.2K
Cap Rate 9%
$278,578
$278.6K
Market Conditions
NOI Build-Up for 2,778 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
$39.0K $14.04/SF
− Vacancy
−$3.2K −$1.15/SF
EGI
$35.8K $12.89/SF
− OpEx
−$10.7K −$3.87/SF
NOI
$25.1K $9.03/SF
Area
McCracken County, KY
Vacancy
8.17%
Lease Rate
$14.04 /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%
$501,440
Cap Rate 7%
$358,171
Cap Rate 9%
$278,578
Alternative Uses
Best Use
Multifamily LT 5
$358.2K
$313.4K – $417.9K
NOI $25,072 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$325.6K
$284.9K – $379.9K
NOI $22,791 @ 7.0% cap · market cap 4.56%
Theoretical Best
Warehouse
$578.8K
$506.5K – $675.3K
NOI $40,517 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 42003, KY
28,592
Population
14,132
Households
2
Avg Household Size
43
Median Age
22%
College-Educated
92%
High-School Grad
69.0 sq mi
ZIP Area
414
Density / Sq Mi
$54,052
Median Household Income
$33,566
Median Earnings
$696
Median Rent
$160,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 vacant apartments feature modern finishes, efficient systems, and paved tenant parking.
Where is this quadplex located?
The property is located at 2300 Hovekamp Road Paducah, KY.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bathroom units in a 2,778‑square‑foot quadplex; Under construction with a stated 2026 construction year; All‑brick exterior and fully paved asphalt parking lot
