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4 Beds
2 Baths
1,680 sqft

$225,000

406 S 16th Street, Murray KY, 42071

Price per sqft$133.93
Built in1960
Property size1,680 sqft
Property typeMulti-family
Listed by Ashton Downey with Keller Williams Experience - Murray

Overview

Active

Listed Oct 29, 2026

Updated 4h ago

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!

$1,497/mo

Est. mortgage payment based on a $225,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
26029954

Interior Features

Bedrooms
4
Bathrooms
2
Cooling
Yes
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.4 Acres
MLS provider logo

Listing Contact:  

The IDX display contains information sourced from the Bluegrass REALTORS® as of 11/3/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 11/3/2026 at 7:42 PM UTC

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