Duplex Residence with Finished
For Sale
$199,000
314 Park Avenue #B, Somerset, KY 42503
New construction includes an attached garage and flexible lower-level space.
Property Size1,500 SF
Price / SF$132.67
Days on Market93
Property Features for 314 Park Avenue #B
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
attached garage
finished basement
Building Details
Year Built
2025
Listing Agency:
Premier Properties of Lake Cumberland, Inc.
(606) 676-0707
Listed By:
Lillian Dick · License #308159
(606) 872-8644
Source:
Mdmitchellrealestate
Added: Jul 31
Changed: Oct 29
Last Checked: Oct 29 at 2:33PM
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.
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Investment Insights
Based on property information with market context.
Built in 2025, this duplex residence offers 2 bedrooms and 2 full bathrooms in a functional layout, with an attached garage. The finished basement adds a large room that may accommodate a third bedroom, subject to buyer verification, plus a separate flex room. Waterproof vinyl flooring is to be added in the basement with an accepted offer, with the buyer able to select the color.
An adjacent duplex is also available and may be acquired with this property.
An adjacent duplex is also available and may be acquired with this property.
Key Highlights
- 2025 construction with 2 bedrooms and 2 full bathrooms
- Finished basement includes a large room that may serve as a third bedroom, subject to buyer verification
- Separate basement flex room for office, hobbies, or storage
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
NOI $11,436 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$145.6K
$127.4K – $169.8K
NOI $10,189 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$255.5K
$223.6K – $298.1K
NOI $17,888 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
514
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - New construction includes an attached garage and flexible lower-level space.
Where is this duplex located?
The property is located at 314 Park Avenue #B 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: 2025 construction with 2 bedrooms and 2 full bathrooms; Finished basement includes a large room that may serve as a third bedroom, subject to buyer verification; Separate basement flex room for office, hobbies, or storage
