Duplex with Separate Water
New
For Sale
$569,000
4280/4282 Forest Cove, Paducah, KY 42001
Two residences feature open-concept interiors and private outdoor areas within a fenced backyard.
Property Size3,408 SF
Price / SF$166.96
Days on Market3
Property Features for 4280/4282 Forest Cove
General Information
Standard status
Active
Size
3,408 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Amenities
privacy fence
circular driveway
irrigation system
separate water meters
Building Details
Year Built
1976
Listing Agency:
Century 21 Advantage Realty
Listed By:
Lake Cumberland Real Estate Professional
(606) 677-0059
Source:
Lakecumberlandky
Added: Sep 13
Changed: Sep 14
Last Checked: Sep 15 at 6:54AM
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 Century 21 Advantage Realty
Investment Insights
Based on property information with market context.
This 3,408-square-foot duplex, built in 1976, includes a three-bedroom, two-bath residence and a separate two-bedroom, two-bath suite. Both residences use open-concept living areas with vaulted ceilings, large bedrooms, and generous closet storage. Interior finishes include hardwood, tile, and marble flooring. Separate water meters support distinct utility management for each side.
The property sits in a cul-de-sac neighborhood in Paducah’s West End. A full-perimeter privacy fence surrounds the backyard, while a poured-concrete circular driveway installed less than two years ago and an integrated irrigation system add functional exterior improvements. The configuration supports use as two residences or combined personal and leasing space, as described in the source information.
The property sits in a cul-de-sac neighborhood in Paducah’s West End. A full-perimeter privacy fence surrounds the backyard, while a poured-concrete circular driveway installed less than two years ago and an integrated irrigation system add functional exterior improvements. The configuration supports use as two residences or combined personal and leasing space, as described in the source information.
Key Highlights
- 3,408 SF duplex with a 3‑bedroom, 2‑bath residence and a 2‑bedroom, 2‑bath suite
- Separate water meters for the two residences
- Open‑concept living areas with vaulted ceilings
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
$30,757
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
5.41%
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%
$615,140
$615.1K
Cap Rate 7%
$439,386
$439.4K
Cap Rate 9%
$341,744
$341.7K
Market Conditions
NOI Build-Up for 3,408 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 $14.04/SF
− Vacancy
−$3.9K −$1.15/SF
EGI
$43.9K $12.89/SF
− OpEx
−$13.2K −$3.87/SF
NOI
$30.8K $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%
$615,140
Cap Rate 7%
$439,386
Cap Rate 9%
$341,744
Alternative Uses
Best Use
Multifamily LT 5
$439.4K
$384.5K – $512.6K
NOI $30,757 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$399.4K
$349.5K – $466.0K
NOI $27,959 @ 7.0% cap · market cap 4.91%
Theoretical Best
Warehouse
$710.1K
$621.3K – $828.4K
NOI $49,706 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
95
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 residences feature open-concept interiors and private outdoor areas within a fenced backyard.
Where is this duplex located?
The property is located at 4280/4282 Forest Cove Paducah, KY.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: 3,408 SF duplex with a 3‑bedroom, 2‑bath residence and a 2‑bedroom, 2‑bath suite; Separate water meters for the two residences; Open‑concept living areas with vaulted ceilings
