Updated Duplex with Hardwood
For Sale
$324,900
Pending
369 Wallace Ln, Paducah, KY 42001
Two separate residences combine updated kitchens, fireplaces, patios, and flexible living arrangements in an established west Paducah neighborhood.
Property Size2,510 SF
Days on Market83
Property Features for 369 Wallace Ln
General Information
Standard status
Pending
Size
2,510 SF
Property subtype
Multi-Family
Units
Unit Mix
3BR/1.5BA, 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
hardwood floors
fireplaces
updated kitchens
patios
Building Details
Year Built
1938
Listing Agency:
Housman Partners Real Estate
Listed By:
Jessica Housman · License #201474
(270) 210-4366
Source:
Centralkentuckyhouses
Added: Jul 23
Changed: Oct 10
Last Checked: Oct 12 at 8:23PM
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 Housman Partners Real Estate
Investment Insights
Based on property information with market context.
This duplex contains two distinct residences totaling 2,510 square feet. The larger unit measures approximately 1,600 square feet and includes three upstairs bedrooms, 1.5 bathrooms, hardwood flooring, a fireplace, granite kitchen counters, stainless steel appliances, a dining room, and a rear patio. The second residence offers approximately 910 square feet with two bedrooms, one bathroom, hardwood floors, a fireplace, stainless steel appliances, and its own back patio.
Located at 369 Wallace Ln in Paducah’s west end, the property is near shopping, dining, schools, hospitals, and Interstate 24. Both units feature separate living spaces and outdoor areas, supporting a range of residential arrangements within the Park Realty subdivision.
Located at 369 Wallace Ln in Paducah’s west end, the property is near shopping, dining, schools, hospitals, and Interstate 24. Both units feature separate living spaces and outdoor areas, supporting a range of residential arrangements within the Park Realty subdivision.
Key Highlights
- Two‑unit property totaling 2,510 square feet
- Larger side offers approximately 1,600 square feet with 3 bedrooms and 1.5 bathrooms
- Second side provides approximately 910 square feet with 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,653
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,060
$453.1K
Cap Rate 7%
$323,614
$323.6K
Cap Rate 9%
$251,700
$251.7K
Market Conditions
NOI Build-Up for 2,510 SF
Gross rent
$35.2K $14.04/SF
− Vacancy
−$2.9K −$1.15/SF
EGI
$32.4K $12.89/SF
− OpEx
−$9.7K −$3.87/SF
NOI
$22.7K $9.03/SF
Area
McCracken County, KY
Vacancy
8.17%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,060
Cap Rate 7%
$323,614
Cap Rate 9%
$251,700
Alternative Uses
Best Use
Multifamily LT 5
$323.6K
$283.2K – $377.6K
NOI $22,653 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$294.2K
$257.4K – $343.2K
NOI $20,592 @ 7.0% cap · market cap 6.34%
Theoretical Best
Warehouse
$523.0K
$457.6K – $610.1K
NOI $36,608 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 42001, KY
31,579
Population
14,815
Households
2.1
Avg Household Size
41
Median Age
36%
College-Educated
94%
High-School Grad
74.2 sq mi
ZIP Area
426
Density / Sq Mi
$68,868
Median Household Income
$42,334
Median Earnings
$916
Median Rent
$210,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences combine updated kitchens, fireplaces, patios, and flexible living arrangements in an established west Paducah neighborhood.
Where is this duplex located?
The property is located at 369 Wallace Ln Paducah, KY.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Two‑unit property totaling 2,510 square feet; Larger side offers approximately 1,600 square feet with 3 bedrooms and 1.5 bathrooms; Second side provides approximately 910 square feet with 2 bedrooms and 1 bathroom
