Building Details

Year Built 2006

Buildings 1

Stories 3

Listing Agency: SmithCO Real Estate Firm

Listed By: Jenna Smith Sims · License #288103 Show Phone

Source: Centralkyhomefinder

Added: Sep 1 Changed: Sep 24 Last Checked: Sep 24 at 2:06PM

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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 SmithCO Real Estate Firm

Investment Insights

Based on property information with market context.

Set along Lake Cumberland, this three-level home offers 3,690 square feet with bedrooms and bathrooms on each level. Large windows look toward the water, while an expansive tiered deck extends the gathering space outdoors. The first level includes the main kitchen and a large living room; downstairs are a second kitchen area, another living room, and a game room. An upper-level loft adds flexible space, and full laundry rooms are located on both the upper and lower levels. The current sleeping setup accommodates 16. An attached garage and additional parking are also included.

A walking trail connects the house to the waterfront. A public boat ramp, loading dock, and parking lot are approximately 1 mile away, and Burnside Marina is approximately 1 mile away by water. Burnside is about a 7-minute drive, while Conley Bottom and Lee’s Ford are each about a 20-minute drive. Somerset is approximately 10 miles away. The home was built in 2006.

Key Highlights

• 3,690‑square‑foot, three‑level home on Lake Cumberland
• Current layout sleeps 16, with bedrooms and bathrooms on every level
• Main kitchen plus a second kitchen area, two large living rooms, and a game room

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

$25,066

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

3.92%

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%

$501,320 $501.3K

Cap Rate 7%

$358,086 $358.1K

Cap Rate 9%

$278,511 $278.5K

Market Conditions

NOI Build-Up for 3,690 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

$47.8K $12.96/SF

− Vacancy

−$2.2K −$0.61/SF

EGI

$45.6K $12.35/SF

− OpEx

−$20.5K −$5.56/SF

NOI

$25.1K $6.79/SF

Area

Pulaski County, KY

Vacancy

4.70%

Lease Rate

$12.96 /SF/Yr

Expense Ratio

45.00%

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%

$501,320

Cap Rate 7%

$358,086

Cap Rate 9%

$278,511

Alternative Uses

Best Use

Apartment 5plus

$358.1K

$313.3K – $417.8K (±1% cap)

NOI $25,066 @ 7.0% cap · market cap 3.92%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$628.6K

$550.1K – $733.4K (±1% cap)

NOI $44,005 @ 7.0% cap · market cap 6.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Short term rental ...

Suggested Use

Top Pick Building Supply Grocery & Convenience Store (Bike/Boat/Book/etc) Store Hair Salon HVAC Service Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

47

Businesses Nearby

Explore this area Business Placement

Demographics for 42518, KY

2,989

Population

2,152

Households

1.4

Avg Household Size

46

Median Age

17%

College-Educated

89%

High-School Grad

34.2 sq mi

ZIP Area

87

Density / Sq Mi

$52,472

Median Household Income

$33,438

Median Earnings

$838

Median Rent

$132,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this short term rental properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Short term rental property - Lake-facing windows, multiple gathering areas, and a waterfront trail support vacation stays and personal use.

Where is this short term rental property located?

The property is located at 333 Old Waitsboro Rd Bronston, KY.

What is the asking price?

The asking price for this property is $640,000.

What are key features of this property?

This property features: 3,690‑square‑foot, three‑level home on Lake Cumberland; Current layout sleeps 16, with bedrooms and bathrooms on every level; Main kitchen plus a second kitchen area, two large living rooms, and a game room