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Listing view 3

406 S 16th Street, 
Murray, KY 42071

$225,000


4

Beds


2

Baths


1,680

Sq Ft


Multi-Family

Active

Listed by

Ashton Downey

Keller Williams Experience - Murray

270-753-1492

Last updated:

October 30, 2026, 04:42 PM

MLS#

26029954

Source:

KY LBAR

About This Home

406 S 16th Street

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!

Home Facts

Multi-Family

2 Baths

4 Bedrooms

Built in 1960

Subdivision & Development:

None

Price Summary

225,000

$133 per Sq. Ft.

MLS #:

26029954

Last Updated:

October 30, 2026, 04:42 PM

Added:

2 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

4

Bathrooms

Total Bathrooms:

2

Full Bathrooms:

2

Interior

Living Area:

1,680 Sq. Ft.


Structure

Structure

Building Area:

1,680 Sq. Ft.

Year Built:

1960


Lot

Lot Size (Sq. Ft):

17,424


Finances & Disclosures

Finances

Price:

$225,000

Price per Sq. Ft:

$133 per Sq. Ft.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.