Two-Unit Duplex with
New
For Sale
$239,000
925 Parkland Way, Bowling Green, KY 42103
MULTI_FAMILY - Bowling Green, KY
Property Size1,650 SF
Lot Size0.39 Acres
Price / SF$144.85
Days on Market2
Property Features for 925 Parkland Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 2
Interior features
Ceiling Fan(s)
Exterior features
Concrete Walks
Subdivision
Parkland Garden
Lot features
County
Elementary school
Rockfield
Middle school
Henry F Moss
High school
Warren Central
Directions
From Russellville Road turn onto Memphis Junction Road. Right on Gerard Drive and left onto Parkland Way.
Standard status
Active
Lot size
0.39 Acres
Amenities
laundry room
patio
Building Details
Year built
1979
Number of units
2
Roof type
Shingle
Listing Agency:
RE/MAX Real Estate Executives · RE/MAX International
(270) 781-6000
Listed By:
Jane Parrott · License #184109
(270) 792-7334
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 9:06PM
MLS# RA20264828
Copyright © 2026 REALTOR® Association of Southern Kentucky, Inc. 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 1979 duplex contains approximately 1,650 square feet in total, with two residential units of approximately 825 square feet each. Both sides include two bedrooms, one full bathroom, a living room, kitchen, laundry room, patio, and a one-car garage. Additional property features include shingle roofing, concrete walkways, and ceiling fans.
Located at 925 Parkland Way in Bowling Green, the property sits on approximately 0.39 acres. It is tenant occupied, with residents leasing on a month-to-month basis. The property is being sold as-is and is part of an estate.
Located at 925 Parkland Way in Bowling Green, the property sits on approximately 0.39 acres. It is tenant occupied, with residents leasing on a month-to-month basis. The property is being sold as-is and is part of an estate.
Key Highlights
- Approximately 1,650 sqft. total across two units
- Each unit offers approximately 825 sqft. with 2 bedrooms and 1 full bathroom
- Each side includes a patio, laundry room, and 1‑car garage
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
$15,520
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
6.49%
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%
$310,400
$310.4K
Cap Rate 7%
$221,714
$221.7K
Cap Rate 9%
$172,444
$172.4K
Market Conditions
NOI Build-Up for 1,650 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
$23.6K $14.28/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$22.2K $13.44/SF
− OpEx
−$6.7K −$4.03/SF
NOI
$15.5K $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 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%
$310,400
Cap Rate 7%
$221,714
Cap Rate 9%
$172,444
Alternative Uses
Best Use
Multifamily LT 5
$221.7K
$194.0K – $258.7K
NOI $15,520 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$206.9K
$181.1K – $241.4K
NOI $14,484 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$364.4K
$318.9K – $425.2K
NOI $25,509 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 42103, KY
22,106
Population
10,339
Households
2.1
Avg Household Size
39
Median Age
49%
College-Educated
95%
High-School Grad
70.4 sq mi
ZIP Area
314
Density / Sq Mi
$84,624
Median Household Income
$45,598
Median Earnings
$1,104
Median Rent
$303,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied property offers separate living spaces with kitchens, laundry rooms, patios, and individual garages.
Where is this duplex located?
The property is located at 925 Parkland Way Bowling Green, KY.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Approximately 1,650 sqft. total across two units; Each unit offers approximately 825 sqft. with 2 bedrooms and 1 full bathroom; Each side includes a patio, laundry room, and 1‑car garage
