New-Construction Duplex
For Sale
$199,000
314 Park Avenue, Somerset, KY 42503
Residential, Somerset, KY
Property Size1,500 SF
Lot Size0.42 Acres
Price / SF$132.67
Days on Market43
Property Features for 314 Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Basement, Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2
Parking features
Garage, Driveway, Garage - Attached
Interior features
Eat-in Kitchen, Ceiling Fan(s)
Basement
Walk-Up Access, Full, Finished, Walk-Out Access
Appliances
Dishwasher, Microwave, Refrigerator, Range
Elementary school
Hopkins
Middle school
Meece
High school
Pulaski Co
Elementary school district
Pulaski County - 45
Middle school district
Pulaski County - 45
High school district
Pulaski County - 45
Directions
From US-27 turn right onto east 80. Turn left onto Clifty St. and take the first right on Park Ave. home on left. You will see signs
Subdivision
909 - Somerset City, Pulaski County
Standard status
Active
APN
060-0-1-02.0
Size
1,500 SF
Lot size
0.42 Acres
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air, Ceiling Fan(s), Electric, Heat Pump
Water source
Public
Amenities
attached garage
Building Details
Year built
2025
Floors in Building
1
Flooring type
Concrete, Hardwood
Building materials
Brick Veneer, Metal Siding
Roof type
Metal
Architectural style
Ranch
Listing Agency:
Premier Properties of Lake Cumberland, Inc.
(606) 676-0707
Listed By:
Lillian Dick
(606) 872-8644
Added: Jul 31
Changed: Sep 6
Last Checked: Sep 11 at 6:06PM
MLS# 26020576
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 under-construction duplex property offers 1,500 square feet with two bedrooms and two full bathrooms in a ranch-style configuration. The home includes an eat-in kitchen, laundry room, attached garage, driveway parking, central air, heat pump, and a combination of brick veneer and metal siding. A full basement adds a large multipurpose room and a separate flex room that may accommodate office, hobby, or storage use. Basement flooring is planned for completion before closing, with waterproof vinyl flooring to be added under the accepted-offer terms.
Set on 0.42 acres in Somerset, the property is served by public water and public sewer. The adjacent duplex is also available and may be purchased together, creating an option for multi-unit ownership. The home was built in 2025 and includes a metal roof, electric heating, a range, refrigerator, dishwasher, and microwave.
Set on 0.42 acres in Somerset, the property is served by public water and public sewer. The adjacent duplex is also available and may be purchased together, creating an option for multi-unit ownership. The home was built in 2025 and includes a metal roof, electric heating, a range, refrigerator, dishwasher, and microwave.
Key Highlights
- 1,500‑square‑foot under‑construction property with 2 bedrooms and 2 full bathrooms
- Full basement with large multipurpose room and additional flex room
- Basement waterproof vinyl flooring planned before closing
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
$11,436
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
5.75%
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%
$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
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
$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 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%
$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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Ranch-style property with a finished basement, attached garage, and public water and sewer service.
Where is this duplex located?
The property is located at 314 Park Avenue 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: 1,500‑square‑foot under‑construction property with 2 bedrooms and 2 full bathrooms; Full basement with large multipurpose room and additional flex room; Basement waterproof vinyl flooring planned before closing
