Duplex with Mixed Lease
825/827 Independence Dr Madisonville, KY 42431
825/827 Independence Dr, Madisonville, KY, 42431
$185,000
For Sale
$185,000
MULTI_FAMILY - Madisonville, KY
Property Size1,500 SF
Lot Size0.36 Acres
Price / SF$123.33
Days on Market185
Property Features for 825/827 Independence Dr
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Rooms
- Bedroom 1, Bedroom 2
- Window features
- Double Pane Windows
- Interior features
- Mini-Blinds
- Appliances
- Range-Electric, Refrigerator
- Standard status
- Active
- Size
- 1,500 SF
- Lot size
- 0.36 Acres
Utilities
- Cooling system
- Electric, Central Air
Building Details
- Year built
- 1977
- Number of units
- 2
- Building materials
- 1 Story, Brick
- Roof type
- Metal
Listing Agency
Bolinger Real Estate & Auction
(270) 632-8882
110 John Rives Road, Hopkinsville, KY
Listed by
Ben Bolinger · License #246976
(270) 889-7848
Added: Jan 15 Checked: Jul 19 at 5:06 am
MLS# 118556
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.
Investment Insights
Based on property information with market context.
This duplex consists of two separate units, totaling approximately 1,500 square feet on a 0.36-acre lot. Current tenancy is split between the two units, creating two different lease situations. One unit is leased for $500 on a month-to-month basis, while the other unit is leased for $775 and is under a year lease signed on 9/30/25.
The property is located at 825/827 Independence Dr in Madisonville, Kentucky (Hopkins County). The duplex configuration supports straightforward operation as a two-unit residential income property, with each unit maintained under its respective lease terms.
For investors or owner-operators seeking a residential income asset, the existing leases provide an operational baseline with both flexibility and longer-term structure. Because one unit is month-to-month, it may offer more adaptability over time, while the other unit’s year lease signed 9/30/25 provides defined tenancy for the current term. This is a practical fit for buyers looking for a small, manageable duplex format with documented in-place leasing details.
The property is located at 825/827 Independence Dr in Madisonville, Kentucky (Hopkins County). The duplex configuration supports straightforward operation as a two-unit residential income property, with each unit maintained under its respective lease terms.
For investors or owner-operators seeking a residential income asset, the existing leases provide an operational baseline with both flexibility and longer-term structure. Because one unit is month-to-month, it may offer more adaptability over time, while the other unit’s year lease signed 9/30/25 provides defined tenancy for the current term. This is a practical fit for buyers looking for a small, manageable duplex format with documented in-place leasing details.
Key Highlights
- Two units with current leases: one at $500 and one at $775
- Lease terms: one unit month‑to‑month; the other has a year lease signed 9/30/25
- 1‑story brick construction with a metal roof, built in 1977
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.3k | $10.20 |
| − Vacancy | −$765 | −$0.51 |
| EGI | $14.5k | $9.69 |
| − OpEx | −$4.4k | −$2.91 |
| NOI | $10.2k | $6.78 |
1,500 SF · lease $10.20/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$145.3K
$127.2K – $169.6K
NOI $10,174 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$130.7K
$114.4K – $152.5K
NOI $9,152 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$253.0K
$221.4K – $295.2K
NOI $17,712 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Two-unit duplex in Madisonville offers one month-to-month tenant and one tenant under a year lease signed 9/30/25.
Where is this duplex located?
The property is located at 825/827 Independence Dr Madisonville, KY.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two units with current leases: one at $500 and one at $775; Lease terms: one unit month‑to‑month; the other has a year lease signed 9/30/25; 1‑story brick construction with a metal roof, built in 1977
