New-Construction Duplex with
For Sale
$348,700
323 Randolph St, Somerset, KY 42501
Two-bedroom units feature vaulted ceilings, covered porches, side decks, and custom kitchens with granite countertops.
Property Size2,100 SF
Price / SF$166.05
Days on Market237
Property Features for 323 Randolph St
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Residential Income
Amenities
covered front porch
side deck
oversized one-car garage
Listing Agency:
Keller Williams Commonwealth - Somerset
(859) 721-2121
Listed By:
Nathanael Sears
(606) 425-6632
Source:
Exprealty
Added: Jan 8
Changed: Aug 30
Last Checked: Sep 2 at 1:01AM
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 Keller Williams Commonwealth - Somerset
Investment Insights
Based on property information with market context.
This new-construction duplex offers two-bedroom, one-bathroom townhome-style units with a practical residential layout. Each home includes minimum 12-foot vaulted ceilings, a generously sized primary bedroom, a living room, and a custom kitchen with built-in cabinetry and granite countertops. Exterior construction includes thick matte black siding and tongue-and-groove pressure-treated pine soffits.
The property sits at the end of a quiet dead-end street and backs to an open field. Each unit has a covered front porch, side deck, and oversized one-car garage, adding outdoor and storage space to the floor plan. Located at 323 Randolph St in Somerset, KY, the duplex presents a new-build multifamily configuration with townhome-style interiors and separate garage accommodations.
The property sits at the end of a quiet dead-end street and backs to an open field. Each unit has a covered front porch, side deck, and oversized one-car garage, adding outdoor and storage space to the floor plan. Located at 323 Randolph St in Somerset, KY, the duplex presents a new-build multifamily configuration with townhome-style interiors and separate garage accommodations.
Key Highlights
- New‑construction duplex with two‑bedroom, one‑bathroom units
- Minimum 12‑foot vaulted ceilings throughout each home
- Custom kitchens with built‑in cabinetry and granite countertops
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
$16,011
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
4.59%
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%
$320,220
$320.2K
Cap Rate 7%
$228,729
$228.7K
Cap Rate 9%
$177,900
$177.9K
Market Conditions
NOI Build-Up for 2,100 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
$23.9K $11.40/SF
− Vacancy
−$1.1K −$0.51/SF
EGI
$22.9K $10.89/SF
− OpEx
−$6.9K −$3.27/SF
NOI
$16.0K $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%
$320,220
Cap Rate 7%
$228,729
Cap Rate 9%
$177,900
Alternative Uses
Best Use
Multifamily LT 5
$228.7K
$200.1K – $266.9K
NOI $16,011 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$203.8K
$178.3K – $237.8K
NOI $14,265 @ 7.0% cap · market cap 4.09%
Theoretical Best
Specialty Retail
$357.8K
$313.1K – $417.4K
NOI $25,044 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Explore this area
Business Placement
Demographics for 42501, KY
18,047
Population
8,039
Households
2.2
Avg Household Size
43
Median Age
17%
College-Educated
84%
High-School Grad
199.7 sq mi
ZIP Area
90
Density / Sq Mi
$49,449
Median Household Income
$38,121
Median Earnings
$808
Median Rent
$131,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units feature vaulted ceilings, covered porches, side decks, and custom kitchens with granite countertops.
Where is this duplex located?
The property is located at 323 Randolph St Somerset, KY.
What is the asking price?
The asking price for this property is $348,700.
What are key features of this property?
This property features: New‑construction duplex with two‑bedroom, one‑bathroom units; Minimum 12‑foot vaulted ceilings throughout each home; Custom kitchens with built‑in cabinetry and granite countertops
