Ranch-Style Duplex
New
For Sale
$289,900
Pending
838 Otter Creek Road, Vine Grove, KY 40175
Residential/Farm, Duplex, Ranch, Vine Grove, KY
Property Size1,575 SF
Lot Size0.25 Acres
Days on Market3
Property Features for 838 Otter Creek Road
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Great Room, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Split Bedroom Floor Plan, Tray Ceiling(s), Walk-in Closet(s)
Exterior features
Covered Patio, Exterior Lights
Fireplace
1
Appliances
Smoke Detector(s)
Subdivision
Alton
Lot features
Golf Course, Sidewalks, Subdivision
Directions
St. Andrews Dr to Otter Creek rd. The home will be on the right side. Signs posted.
Standard status
Pending
Size
1,575 SF
Lot size
0.25 Acres
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air, Heat Pump
Amenities
fireplace
granite countertops
tile back splash
island
pantry
full appliance package
luxury vinyl flooring
private covered back patio
Building Details
Year built
2025
Flooring type
Vinyl
Roof type
Shingle
Architectural style
Ranch, Other
Listing Agency:
Weichert Realtors Lawson Collective
(270) 982-1155
Listed By:
Tracey Cecil-Simpson · License #207342
(270) 268-6894
Added: Sep 13
Changed: Sep 14
Last Checked: Sep 15 at 11:06PM
MLS# HK2603859
Copyright © 2026 Heart of Kentucky Association 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 property presents a ranch-style residence under construction with 1,575 square feet of living space on a 0.25-acre lot. The interior is arranged around an open great room with a fireplace, kitchen island, pantry, granite countertops, tile backsplash, contemporary black fixtures, and a full appliance package. A split-bedroom arrangement includes a primary suite with an attached bath and walk-in closet, plus two additional bedrooms and a second full bath. Luxury vinyl flooring, tray ceilings, ceiling fans, and no-step entrances are included. The home also has a heat pump, central air, shingle roof, covered patio, and two-car garage.
Key Highlights
- 1,575‑square‑foot duplex property on a 0.25‑acre lot
- Under construction with a 2025 year‑built designation
- Open great room and kitchen with fireplace, island, pantry, and granite countertops
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
$13,574
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
4.68%
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%
$271,480
$271.5K
Cap Rate 7%
$193,914
$193.9K
Cap Rate 9%
$150,822
$150.8K
Market Conditions
NOI Build-Up for 1,575 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
$20.4K $12.96/SF
− Vacancy
−$1.0K −$0.65/SF
EGI
$19.4K $12.31/SF
− OpEx
−$5.8K −$3.69/SF
NOI
$13.6K $8.62/SF
Area
Hardin County, KY
Vacancy
5.00%
Lease Rate
$12.96 /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%
$271,480
Cap Rate 7%
$193,914
Cap Rate 9%
$150,822
Alternative Uses
Best Use
Multifamily LT 5
$193.9K
$169.7K – $226.2K
NOI $13,574 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$180.1K
$157.6K – $210.1K
NOI $12,608 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$285.1K
$249.5K – $332.6K
NOI $19,958 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 40175, KY
15,338
Population
6,630
Households
2.3
Avg Household Size
39
Median Age
27%
College-Educated
95%
High-School Grad
80.7 sq mi
ZIP Area
190
Density / Sq Mi
$75,156
Median Household Income
$40,292
Median Earnings
$1,258
Median Rent
$205,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Under-construction property features an open layout, split-bedroom plan, and covered outdoor area.
Where is this duplex located?
The property is located at 838 Otter Creek Road Vine Grove, KY.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 1,575‑square‑foot duplex property on a 0.25‑acre lot; Under construction with a 2025 year‑built designation; Open great room and kitchen with fireplace, island, pantry, and granite countertops
