Updated Duplex with Hardwood
For Sale
$324,900
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
Price / SF$129.44
Days on Market37
Property Features for 369 Wallace Ln
General Information
Standard status
Active
Size
2,510 SF
Property subtype
Residential Income
Units
Unit Mix
3BR/1.5BA, 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
hardwood floors
fireplaces
updated kitchens
patios
Listing Agency:
Housman Partners Real Estate
(270) 210-4366
Listed By:
Jessica Housman · License #201474
(270) 210-4366
Source:
Exprealty
Added: Jul 24
Changed: Aug 26
Last Checked: Aug 26 at 12:34PM
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 = 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
$22,653
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
6.97%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 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
