New-Construction
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 Market90
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
Bathroom 1, Laundry Room, Bathroom 2, Basement, Bedroom 1, Bedroom 2
Parking features
Garage - Attached, Garage, Driveway
Interior features
Eat-in Kitchen, Ceiling Fan(s)
Basement
Walk-Up Access, Full, Walk-Out Access, Finished
Appliances
Dishwasher, Microwave, Refrigerator, Range, 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
Heat Pump (Heating), Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air, Heat Pump, Electric
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Flooring type
Hardwood, Concrete
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: Oct 24
Last Checked: Oct 28 at 10:06AM
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.
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Investment Insights
Based on property information with market context.
This under-construction duplex offers 1,500 square feet with two bedrooms and two full bathrooms. The ranch-style layout includes an eat-in kitchen, laundry room, attached garage, and finished basement. A large basement room could serve as a third bedroom, subject to buyer verification, while a separate flex room offers additional options. Basement flooring will be completed before closing, with waterproof vinyl flooring available for buyer color selection after an accepted offer.
The property occupies a 0.42-acre lot and is served by public water and sewer. Construction materials include brick veneer and metal siding, with a metal roof. The home is equipped with a heat pump, central air, range, refrigerator, microwave, and dishwasher.
The property occupies a 0.42-acre lot and is served by public water and sewer. Construction materials include brick veneer and metal siding, with a metal roof. The home is equipped with a heat pump, central air, range, refrigerator, microwave, and dishwasher.
Key Highlights
- 1,500‑square‑foot duplex with two bedrooms and two full bathrooms
- 0.42‑acre lot
- Finished basement includes a large room that may serve as a third bedroom, subject to buyer verification
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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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 - A finished basement adds flexible space for a potential third bedroom, office, hobbies, or storage.
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 duplex with two bedrooms and two full bathrooms; 0.42‑acre lot; Finished basement includes a large room that may serve as a third bedroom, subject to buyer verification
