Duplex with Detached
For Sale
$189,900
Pending
1318 Highland Park Drive, Lexington, KY 40505
Residential Income, Lexington, KY
Property Size1,344 SF
Lot Size0.17 Acres
Days on Market196
Property Features for 1318 Highland Park Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3
Subdivision
The Meadows
Elementary school
Northern
Middle school
Bryan Station
High school
Bryan Station
Elementary school district
Fayette County - 1
Middle school district
Fayette County - 1
High school district
Fayette County - 1
Directions
Lexington Kentucky Take Red Mile Rd to S Limestone 8 min (2.8 mi) Head toward Tattersalls Way 1.2 mi Turn right onto Versailles Rd 0.4 mi Continue onto W High St 0.4 mi Continue onto W Maxwell St 0.4 mi Turn left onto S Broadway 0.2 mi Turn right onto W Vine St 0.2 mi Continue on S Limestone to E Loudon Ave 5 min (1.4 mi) Turn right onto E Loudon Ave 2 min (0.7 mi) Follow Meadow Ln to Highland Park Dr 41 sec (0.2 mi)
Standard status
Pending
APN
12408200
Size
1,344 SF
Lot size
0.17 Acres
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s), Central Air
Amenities
large backyard
detached garage
Building Details
Year built
1944
Floors in Building
2
Listing Agency:
Lifstyl Real Estate
(859) 278-7501
Listed By:
M Scott Peace · License #240444
(512) 921-2794
Added: Mar 26
Changed: Sep 12
Last Checked: Oct 7 at 1:06PM
MLS# 26006133
Copyright © 2026 ImagineMLS. 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 1944-built duplex contains 1,344 square feet of finished living area along with an 846-square-foot unfinished basement. The lower residence offers two bedrooms and one bathroom, while the upper residence includes one bedroom and one bathroom. A detached garage, backyard, and off-street parking add functional space to the property. Heating is provided by forced air, with cooling through window units and central air.
The lower unit is leased through March 2027, and the upper unit is currently vacant. The property occupies 0.172 acres in Lexington, Kentucky, and includes a three-bedroom, two-bathroom configuration across the two residences.
The lower unit is leased through March 2027, and the upper unit is currently vacant. The property occupies 0.172 acres in Lexington, Kentucky, and includes a three-bedroom, two-bathroom configuration across the two residences.
Key Highlights
- Duplex with 1,344 sq ft of finished living area
- 846 sq ft unfinished basement
- Lower 2 bed / 1 bath unit leased through March 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,166
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,320
$223.3K
Cap Rate 7%
$159,514
$159.5K
Cap Rate 9%
$124,067
$124.1K
Market Conditions
NOI Build-Up for 1,344 SF
Gross rent
$16.8K $12.48/SF
− Vacancy
−$822 −$0.61/SF
EGI
$16.0K $11.87/SF
− OpEx
−$4.8K −$3.56/SF
NOI
$11.2K $8.31/SF
Area
Lexington, KY
Vacancy
4.90%
Lease Rate
$12.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,320
Cap Rate 7%
$159,514
Cap Rate 9%
$124,067
Alternative Uses
Best Use
Multifamily LT 5
$159.5K
$139.6K – $186.1K
NOI $11,166 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$144.7K
$126.6K – $168.8K
NOI $10,129 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$280.0K
$245.0K – $326.7K
NOI $19,601 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 40505, KY
26,278
Population
12,026
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,285
Density / Sq Mi
$58,922
Median Household Income
$33,517
Median Earnings
$914
Median Rent
$166,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with a leased lower residence, vacant upper unit, unfinished basement, backyard, and off-street parking.
Where is this duplex located?
The property is located at 1318 Highland Park Drive Lexington, KY.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Duplex with 1,344 sq ft of finished living area; 846 sq ft unfinished basement; Lower 2 bed / 1 bath unit leased through March 2027
