Building Details

Year Built 2025

Buildings 1

Listing Agency: Premier Properties of Lake Cumberland, Inc.

Listed By: Christina Jones Show Phone

Source: Centralkentuckyhouses

Added: Jun 1 Changed: Oct 1 Last Checked: Oct 12 at 7:55PM

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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 Premier Properties of Lake Cumberland, Inc.

Investment Insights

Based on property information with market context.

Built in 2025, this new duplex offers 1,500 square feet with two bedrooms and two full bathrooms. The main living area is complemented by a finished basement, where a large room can function as a third bedroom and another room provides space for an office, hobby area, or storage. The basement floor is scheduled for completion before closing.

Modern finishes and an attached garage add to the property’s functional design. An adjoining duplex is also available and may be acquired together for multi-unit ownership. The property is located at 314 Park Ave Unit A in Somerset, Kentucky.

Key Highlights

• New duplex built in 2025
• 2 bedrooms and 2 full bathrooms
• 1,500 square feet of property size

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,436

Cap Rate

5.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$228,720 $228.7K

Cap Rate 7%

$163,371 $163.4K

Cap Rate 9%

$127,067 $127.1K

Market Conditions

NOI Build-Up for 1,500 SF

Gross rent

$17.1K $11.40/SF

− Vacancy

−$763 −$0.51/SF

EGI

$16.3K $10.89/SF

− OpEx

−$4.9K −$3.27/SF

NOI

$11.4K $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%

$228,720

Cap Rate 7%

$163,371

Cap Rate 9%

$127,067

Alternative Uses

Best Use

Multifamily LT 5

$163.4K

$143.0K – $190.6K (±1% cap)

NOI $11,436 @ 7.0% cap · market cap 5.75%

Second Best

Apartment 5plus

$145.6K

$127.4K – $169.8K (±1% cap)

NOI $10,189 @ 7.0% cap · market cap 5.12%

Theoretical Best

Specialty Retail

$255.5K

$223.6K – $298.1K (±1% cap)

NOI $17,888 @ 7.0% cap · market cap 8.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Kitchen & Bath Showroom Electrical Service HVAC Service Garden Center (Bike/Boat/Book/etc) Store Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

514

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

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two-bedroom, two-bath duplex with an attached garage and flexible lower-level rooms.

Where is this duplex located?

The property is located at 314 Park Ave Unit A Somerset, KY.

What is the asking price?

The asking price for this property is $199,000.

What are key features of this property?

This property features: New duplex built in 2025; 2 bedrooms and 2 full bathrooms; 1,500 square feet of property size