406 S 16th St

Murray KY 42071

1680 sq. ft.

17424 sq. ft.

Duplex

Currently for sale - view listing

Overview

Investment opportunity within walking distance of Murray State University! This well-maintained duplex features two bedrooms and one bathroom on each side and is already bringing in $2,200 per month total, with tenants paying their own utilities. Opportunities to purchase an income-producing property in this location don't come around often! Each unit includes a washer and dryer that will convey, along with all attached appliances. Several important updates have already been taken care of, including a new roof on both the duplex and detached garage in 2020, mini-split systems installed in both units in 2024, new fiberglass shower surrounds in both bathrooms, and updated vinyl windows throughout. The property also offers plenty of parking for both units, plus a detached two-bay garage in the backyard that's in great condition. Keep it for your own storage and eliminate that monthly storage rental fee, or explore the potential to rent the garage bays to tenants for additional monthly income! The location is hard to beat. You're within walking distance of Murray State University, Murray Elementary School, and the Arboretum, while also being just minutes from the hospital, shopping, restaurants, and everything else Murray has to offer. With $2,200 in current monthly rental income, tenants paying utilities, additional garage income potential, and a highly convenient location, you're hard-pressed to find a rental property for sale already performing close to the 1% mark. Don't let this one pass you by!

Features

4 bedrooms

2 bathrooms

1680 sq. ft. floor area

17424 sq. ft. lot size

Duplex

Property history for 406 S 16th St

2024

Sold

$160,000

11 Oct 2024 by Ashton Downey, of Valley Agency

2020

Sold

$128,900

15 Oct 2020 by Earleene Woods, of Valley Agency

Happy sellers in Murray

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