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    Duplex with Studio and Two-Bed Unit Title is generated by Realmo AI

    500 1st Street, Henderson, KY 42420

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    For Sale
    $135,000

    MULTI_FAMILY - Henderson, KY

    Property size:
    1,807 SF
    Price / SF:
    $74/SF
    Added:
    Feb 19, 2026
    Days on Market:
    105
    Last Refresh:
    Jun 4 at 2:06 pm

    Property Features for 500 1st Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3
    Window features
    Single Pane Window(s)
    Patio and Porch features
    Porch
    Interior features
    Hardwood Floors
    Exterior features
    Porch-Covered
    Standard status
    Active
    Size
    1,807 SF

    Utilities

    Heating system
    Forced Air
    Cooling system
    Electric, Central Air

    Building Details

    Number of units
    2
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Lavena Cavanaugh

    Listing agent Lavena Cavanaugh License #265940

    Listing office BHG Realty 501 Industrial Court 501 Industrial Court, Owensboro, KY

    Listing date Feb 19, 2026

    MLS# 119622 Listing URL

    Copyright © 2026 Madisonville-Hopkins County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2‑unit duplex: studio on one side and 2‑bed unit on the other
    • Hardwood floors throughout
    • Brick construction with a covered porch and porch
    • Forced air heating with central air conditioning
    • Composition roof
    • Heating and cooling include forced air, central air, and electric cooling

    Overview

    This property is a two-unit duplex configured with a studio on one side and a two-bedroom unit on the other. The studio does not have washer/dryer hook-up. The listing information indicates features shared by both sides, but additional details were not provided.

    Located at 500 1st Street in Henderson, Kentucky (42420) within Henderson County, the property is presented as a residential income opportunity. The duplex layout supports independent living for each unit, with separate accommodations for a studio household and a two-bedroom household.

    For tenants, the mix of unit types can appeal to different household needs, from a smaller one-person or couple setup to a larger two-bedroom arrangement. For buyers or investors seeking a straightforward duplex structure, this asset provides two rentable units within a single building, with one side noted as having no washer/dryer hook-up. Buyers should review the full unit amenities and any shared features during due diligence, since the published remarks were incomplete beyond the statement that both sides share certain characteristics.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant 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
    Henderson
    County
    Henderson
    State
    Kentucky
    Longitude
    -87.587756
    Latitude
    37.837309

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    FAQs

    What type of property is this?
    Duplex - Two-unit duplex offering a studio and a two-bedroom unit, with the studio lacking washer/dryer hookups.
    Where is this duplex located?
    The property is located at 500 1st Street Henderson, KY.
    What is the asking price?
    The asking price for this property is $135,000.
    What are key features of this property?
    This property features: 2‑unit duplex: studio on one side and 2‑bed unit on the other; Hardwood floors throughout; Brick construction with a covered porch and porch
    (270) 339-2920
    We can help!
    Listing Contact
    Lavena Cavanaugh
    Real Estate License ID: 265940
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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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