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    Duplex with Live/Work Flexibility Title is generated by Realmo AI

    338 W 4th Street, Russellville, KY 42276

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    For Sale
    $169,900

    MULTI_FAMILY - Russellville, KY

    Lot size:
    0.19 Acres
    Added:
    Dec 13, 2024
    Days on Market:
    538
    Last Refresh:
    Jun 4 at 12:06 pm

    Property Features for 338 W 4th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Parking Lot
    Interior features
    Attic Access Only, Ceiling Fan(s)
    Exterior features
    Community Pool, Outdoor Lighting
    Standard status
    Active
    Lot size
    0.19 Acres

    Building Details

    Year built
    1920
    Number of units
    2
    Roof type
    Metal

    We can help!

    Listing Contact
    Lisa Masson

    Listing agent Lisa Masson License #202031

    Listing office Keller Williams First Choice R 1550 Westen St., Bowling Green, KY

    Listing date Dec 13, 2024

    MLS# RA20246596 Listing URL

    Copyright © 2026 REALTOR® Association of Southern Kentucky, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Built in 1920 with a metal roof
    • Downtown Historic Russellville, KY location (coordinates: -86.89063, 36.84483)
    • Community pool and outdoor lighting
    • Parking lot parking
    • Ceiling fans and attic access only

    Overview

    This duplex-style property at 338 W 4th Street provides flexible use options, with the opportunity to operate as a traditional two-unit setup or convert into a more integrated live-work arrangement. The layout can support a range of configurations depending on how the spaces are utilized, including living on one side and leasing the other, or using part of the building for business purposes.

    Located in downtown historic Russellville, Kentucky, the property sits on a 0.19-acre lot in Logan County. Its central setting is suited to buyers looking for a building that can serve both residential and commercial needs within the same footprint.

    For tenants, the appeal is the ability to tailor occupancy around day-to-day needs, whether that means a residence paired with business use or separate rental arrangements. For buyers or operators, the property’s versatility supports multiple operational approaches, from maintaining it as a duplex to exploring a combined office, retail, or small business setup alongside living space. Buyers should verify exact feasibility and allowable uses for their intended plans through the appropriate local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Russellville
    County
    Logan
    State
    Kentucky
    Longitude
    -86.8906356
    Latitude
    36.8448286

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    FAQs

    What type of property is this?
    Duplex - Duplex in historic downtown Russellville offering adaptable configurations for living, rental, or combined office/retail use.
    Where is this duplex located?
    The property is located at 338 W 4th Street Russellville, KY.
    What is the asking price?
    The asking price for this property is $169,900.
    What are key features of this property?
    This property features: Built in 1920 with a metal roof; Downtown Historic Russellville, KY location (coordinates: -86.89063, 36.84483); Community pool and outdoor lighting
    (270) 847-3450
    We can help!
    Listing Contact
    Lisa Masson
    Real Estate License ID: 202031
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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