Remodeled Two-Unit
New
For Sale
$149,900
324 Elm St., Owensboro, KY 42301
RESIDENTIAL, Traditional, Owensboro, KY
Property Size1,400 SF
Price / SF$107.07
Days on Market2
Property Features for 324 Elm St.
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 1
Appliances
Range, Refrigerator
Subdivision
WEST
Lot features
Level
Elementary school
Foust Elementary School
Middle school
Owensboro Middle School
High school
OWENSBORO HIGH SCHOOL
Standard status
Active
Size
1,400 SF
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1940
Flooring type
Carpet, Tile
Building materials
Precast Concrete, Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Triple Crown Realty Group
(270) 926-9999
Listed By:
The Gasser Group
(270) 302-2457
Added: Oct 22
Last Checked: Oct 23 at 7:06PM
MLS# 96093
Copyright © 2026 Greater Owensboro Realtor® Association. 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 1,400-square-foot duplex contains two residences, each configured with two bedrooms and one bathroom. Kitchen and bathroom updates include new cabinets, a stand-up shower, and a vanity; the units also have carpet and LVT flooring. Range and refrigerator appliances are included. The building dates to 1940 and has forced-air heating and window-unit cooling.
The upper unit is leased through June 2027, while the lower unit is vacant. The property is near downtown Owensboro, restaurants, hotels, and the riverfront park. Public water and public sewer serve the property.
The upper unit is leased through June 2027, while the lower unit is vacant. The property is near downtown Owensboro, restaurants, hotels, and the riverfront park. Public water and public sewer serve the property.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,400 square feet
- Upper residence leased through June 2027; lower residence vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,227
Cap Rate
6.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$184,540
$184.5K
Cap Rate 7%
$131,814
$131.8K
Cap Rate 9%
$102,522
$102.5K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$14.3K $10.20/SF
− Vacancy
−$1.1K −$0.78/SF
EGI
$13.2K $9.42/SF
− OpEx
−$4.0K −$2.82/SF
NOI
$9.2K $6.59/SF
Area
Daviess County, KY
Vacancy
7.69%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$184,540
Cap Rate 7%
$131,814
Cap Rate 9%
$102,522
Alternative Uses
Best Use
Multifamily LT 5
$131.8K
$115.3K – $153.8K
NOI $9,227 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$122.0K
$106.8K – $142.4K
NOI $8,542 @ 7.0% cap · market cap 5.70%
Theoretical Best
Specialty Retail
$250.7K
$219.4K – $292.5K
NOI $17,550 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,121
Businesses Nearby
Explore this area
Business Placement
Demographics for 42301, KY
44,883
Population
19,833
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
91%
High-School Grad
173.0 sq mi
ZIP Area
259
Density / Sq Mi
$62,010
Median Household Income
$37,305
Median Earnings
$883
Median Rent
$180,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms, one bathroom, and refreshed kitchens and baths.
Where is this duplex located?
The property is located at 324 Elm St. Owensboro, KY.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,400 square feet; Upper residence leased through June 2027; lower residence vacant
