Brick Quadplex with
New
For Sale
$199,900
809 E 5th Street, Owensboro, KY 42303
RESIDENTIAL, Traditional, Owensboro, KY
Property Size1,976 SF
Price / SF$101.16
Days on Market4
Property Features for 809 E 5th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 2, Bathroom 4, Bedroom 3
Patio and Porch features
Porch
Exterior features
Porch Front
Appliances
Range, Refrigerator
Subdivision
DOWNTOWN
Lot features
Plat
Elementary school
Estes Elementary School
Middle school
Owensboro Middle School
High school
OWENSBORO HIGH SCHOOL
Standard status
Active
Size
1,976 SF
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1911
Floors in Building
2
Flooring type
Ceramic
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
L. Steve Castlen, REALTORS(R)
(270) 926-3500
Listed By:
Stacy Sturgeon · License #182280
(270) 929-8983
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 6:06PM
MLS# 95620
Copyright © 2026 Greater Owensboro Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,976-square-foot quadplex contains two studio apartments and two one-bedroom apartments. The 1911 brick property includes front porch features, porcelain tile flooring throughout the apartments, and central air conditioning with electric cooling. Each residence is equipped with a range and refrigerator, while forced-air heating serves the building.
Rear parking supports the four-unit layout. Gas and electric service are separately metered by unit, while the seller currently pays for water. The property is connected to public water and public sewer, with a shingle roof and ceramic construction-related flooring materials identified in the property details.
Rear parking supports the four-unit layout. Gas and electric service are separately metered by unit, while the seller currently pays for water. The property is connected to public water and public sewer, with a shingle roof and ceramic construction-related flooring materials identified in the property details.
Key Highlights
- Two studio apartments and two one‑bedroom apartments
- 1,976 square feet in a 1911‑built quadplex
- Porcelain tile flooring throughout the apartments
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
$13,024
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
6.52%
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%
$260,480
$260.5K
Cap Rate 7%
$186,057
$186.1K
Cap Rate 9%
$144,711
$144.7K
Market Conditions
NOI Build-Up for 1,976 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
$20.2K $10.20/SF
− Vacancy
−$1.5K −$0.78/SF
EGI
$18.6K $9.42/SF
− OpEx
−$5.6K −$2.82/SF
NOI
$13.0K $6.59/SF
Area
Daviess County, KY
Vacancy
7.69%
Lease Rate
$10.20 /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%
$260,480
Cap Rate 7%
$186,057
Cap Rate 9%
$144,711
Alternative Uses
Best Use
Multifamily LT 5
$186.1K
$162.8K – $217.1K
NOI $13,024 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$172.2K
$150.7K – $200.9K
NOI $12,056 @ 7.0% cap · market cap 6.03%
Theoretical Best
Specialty Retail
$353.9K
$309.6K – $412.8K
NOI $24,770 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,511
Businesses Nearby
Explore this area
Business Placement
Demographics for 42303, KY
41,877
Population
18,055
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
89%
High-School Grad
48.8 sq mi
ZIP Area
858
Density / Sq Mi
$63,010
Median Household Income
$41,272
Median Earnings
$941
Median Rent
$183,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit configuration combines studio and one-bedroom apartments with rear parking.
Where is this quadplex located?
The property is located at 809 E 5th Street Owensboro, KY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two studio apartments and two one‑bedroom apartments; 1,976 square feet in a 1911‑built quadplex; Porcelain tile flooring throughout the apartments
