Turnkey multi-family investment opportunity on S. Franklin Street in Madisonville, just a short walk to downtown shops, restaurants, and local attractions. This unique property features 3 established rental units currently operating as Airbnb properties. Unit 1 offers 2 bedrooms and 2 baths, Unit 2 features 1 bedroom, 1 bath, plus an office, and Unit 3 includes 2 bedrooms and 1 bath. Each unit has updated living rooms, kitchens, and laundry areas and comes fully furnished, including linens and kitchenware, making it truly turnkey. Situated on a deep fenced lot, the property also includes a storage building for additional space. Major updates include a new roof and gutters in 2025, with all three HVAC units approximately 5 years old. A rare opportunity to own a fully operational income-producing property near downtown Madisonville.
For sale
$255,900
118 S Franklin St, Madisonville, KY 42431
10beds
7baths
2,946sqft
:
Get pre-qualified$1,733/mo
Triplex
Built in 1924
-- sqft lot
$236,300 Zestimate®
$87/sqft
$-- HOA
What's special
Deep fenced lot
- 44 days |
- 795 |
- 33 |
Zillow last checked:
Listing updated:
Listed by:
Sara Spencer 270-836-2771,
Haven Realty, LLC
Source: MHCBOR,MLS#: 121980
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 7
Heating
- Natural Gas
Cooling
- Central Electric, One Bedroom (Air Conditioning), Two Bedroom (Air Conditioning), Three Bedroom (Air Conditioning)
Appliances
- Included: Dishwasher, Dryer, Disposal, Microwave, Electric Range, Refrigerator, Washer, Gas Water Heater, One Bedroom (Dishwasher), One Bedroom (Range Oven), One Bedroom (Refrigerator), Two Bedroom (Dishwasher), Two Bedroom (Range Oven), Two Bedroom (Refrigerator), Three Bedroom (Dishwasher), Three Bedroom (Range Oven), Three Bedroom (Refrigerator)
- Laundry: Other-See Remarks, One Bedroom: Laundry Room, Two Bedroom: Laundry Room, Three Bedroom: Laundry Room
Features
- Ceiling Fan(s), Walk-In Closet(s)
- Flooring: Hardwood Floors, Tile Floors
- Windows: Double Pane Windows
Interior area
- Total structure area: 2,946
- Total interior livable area: 2,946 sqft
Property
Parking
- Parking features: Concrete
- Has uncovered spaces: Yes
Features
- Levels: Two
- Patio & porch: Deck, Stoop
- Exterior features: Lighting
Lot
- Size: 0.29 Acres
- Dimensions: 0.29
- Features: Landscaped, Wooded
Details
- Additional structures: Outbuilding, Shed(s)
- Parcel number: M331621
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Brick
- Roof: Composition
Condition
- Year built: 1924
Utilities & green energy
- Electric: Combined Electric Meters, 220 Volts, Circuit Breakers
- Gas: Combined Gas Meters
- Sewer: City Sewer, City Water
- Water: Combined Water Meters
- Utilities for property: Electricity Connected, Natural Gas Connected
Community & HOA
Community
- Security: Smoke Detector(s)
- Subdivision: Comer Hills Sub
Location
- Region: Madisonville
Financial & listing details
- Price per square foot: $87/sqft
- Tax assessed value: $205,100
- Annual tax amount: $2,039
- Date on market: 6/22/2026
- Tenant pays: None
- Electric utility on property: Yes
Estimated market value
$236,300
$222,000 - $248,000
$1,155/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/22/2026 | Listed for sale | $255,900+50.6%$87/sqft |
Source: MHCBOR #121980 Report a problem | ||
| 9/30/2022 | Listing removed | -- |
Source: MHCBOR Report a problem | ||
| 8/25/2022 | Listed for sale | $169,900+254%$58/sqft |
Source: MHCBOR #113539 Report a problem | ||
| 2/20/2020 | Sold | $48,000-12.6%$16/sqft |
Source: MHCBOR #110369 Report a problem | ||
| 1/15/2020 | Listed for sale | $54,900+37.3%$19/sqft |
Source: HERITAGE HOMES REAL ESTATE #110369 Report a problem | ||
| 11/20/2019 | Sold | $40,000$14/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $2,039 +16.6% | $205,100 +18.1% |
| 2023 | $1,749 +92.5% | $173,700 +92.6% |
| 2022 | $908 -0.4% | $90,200 |
| 2021 | $912 +87.4% | $90,200 +87.9% |
| 2020 | $487 -2.5% | $48,000 -7.5% |
| 2019 | $499 | $51,900 +6.1% |
| 2018 | $499 +0.6% | $48,900 |
| 2017 | $496 +7.4% | $48,900 |
| 2016 | $462 | $48,900 |
| 2015 | $462 +4.9% | $48,900 |
| 2010 | $441 | $48,900 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 42431
Nearby schools
GreatSchools rating
- 5/10Jesse Stuart Elementary SchoolGrades: PK-5Distance: 1.6 mi
- 4/10Browning Springs Middle SchoolGrades: 6-8Distance: 0.7 mi
- 4/10Hopkins County Central High SchoolGrades: 9-12Distance: 5.4 mi
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