Two-Unit
For Sale
$175,000
510 Glen Lily Road, Bowling Green, KY 42101
Separate living areas provide distinct layouts for the two residential units.
Property Size1,464 SF
Price / SF$119.54
Days on Market33
Property Features for 510 Glen Lily Road
General Information
Standard status
Active
Size
1,464 SF
Property subtype
Multi Family Home
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
Mature Trees
Building Details
Year Built
1997
Buildings
1
Listing Agency:
Elmore Real Estate
Listed By:
Jeff Hinkley · License #193375
(270) 646-5962
Source:
Elmorerealestate
Added: Sep 22
Changed: Oct 23
Last Checked: Oct 23 at 5:34PM
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 Elmore Real Estate
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Investment Insights
Based on property information with market context.
Built in 1997, this 1,464-square-foot duplex contains two apartments. The ground-floor unit has two bedrooms and one bathroom; the upper-level unit offers one bedroom and one bathroom. Flooring and paint have been updated, and each residence has its own living area.
The property is at 510 Glen Lily Road in Bowling Green, near Downtown Bowling Green, with access to shopping, restaurants, Western Kentucky University, and daily services.
The property is at 510 Glen Lily Road in Bowling Green, near Downtown Bowling Green, with access to shopping, restaurants, Western Kentucky University, and daily services.
Key Highlights
- 1,464‑square‑foot duplex built in 1997
- Ground‑floor apartment has 2 bedrooms and 1 bathroom
- Upper‑level apartment has 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,771
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,420
$275.4K
Cap Rate 7%
$196,729
$196.7K
Cap Rate 9%
$153,011
$153.0K
Market Conditions
NOI Build-Up for 1,464 SF
Gross rent
$20.9K $14.28/SF
− Vacancy
−$1.2K −$0.84/SF
EGI
$19.7K $13.44/SF
− OpEx
−$5.9K −$4.03/SF
NOI
$13.8K $9.41/SF
Area
Warren County, KY
Vacancy
5.90%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$275,420
Cap Rate 7%
$196,729
Cap Rate 9%
$153,011
Alternative Uses
Best Use
Multifamily LT 5
$196.7K
$172.1K – $229.5K
NOI $13,771 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$183.6K
$160.6K – $214.2K
NOI $12,851 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$323.3K
$282.9K – $377.2K
NOI $22,633 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
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Business Placement
Demographics for 42101, KY
64,444
Population
26,062
Households
2.5
Avg Household Size
30
Median Age
20%
College-Educated
83%
High-School Grad
281.0 sq mi
ZIP Area
229
Density / Sq Mi
$49,045
Median Household Income
$26,564
Median Earnings
$905
Median Rent
$188,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate living areas provide distinct layouts for the two residential units.
Where is this duplex located?
The property is located at 510 Glen Lily Road Bowling Green, KY.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 1,464‑square‑foot duplex built in 1997; Ground‑floor apartment has 2 bedrooms and 1 bathroom; Upper‑level apartment has 1 bedroom and 1 bathroom
