Two Townhome
166-168 Heritage Drive Nicholasville, KY 40356
166-168 Heritage Drive, Nicholasville, KY, 40356
$345,000
Pending
For Sale
$345,000
Pending
MULTI_FAMILY - Nicholasville, KY
Property Size2,670 SF
Lot Size0.13 Acres
Days on Market22
Property Features for 166-168 Heritage Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-2
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bedroom 2, Laundry Room, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 4, Bathroom 3
- Parking
- 16
- Parking features
- Open, Covered
- Standard status
- Pending
- APN
- 057-40-12-045
- Size
- 2,670 SF
- Lot size
- 0.13 Acres
Utilities
- Utilities
- Cable Available
- Heating system
- Heat Pump (Heating), Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 1988
- Floors in Building
- 3
- Number of units
- 2
- Roof type
- Shingle
Listing agency
RE/MAX Elite Realty
(859) 209-5036
Listed by
Terra Jeffries
(859) 312-0058
Added: Jun 30 Updated: Jul 5 at 3:23PM Checked: Jul 21 at 9:06AM
MLS# 26015571
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 property consists of two townhome units (166–168 Heritage Drive) configured as 2 bedrooms and 1.5 bathrooms each. Each unit includes a one-car garage and an unfinished basement, providing additional storage or expansion space. The exterior has been updated with a new roof, new siding, new gutters, and new windows, and tenants are responsible for all utilities.
The duplex is located on the north side of Lake Mingo Park in Nicholasville, Kentucky. Public remarks also indicate walkability to jobs, shopping, parks, and Main Street. Floor plans are available upon request, and the seller notes a mix of long-term tenancy and month-to-month tenants.
For buyers seeking a two-unit residential income setup, this layout offers two similar-sized homes with practical accessory space in the form of garages and unfinished basements. Utility responsibility is placed with tenants, and the recent exterior upgrades may help reduce near-term maintenance needs. Please do not disturb tenants; contact the listing agent for access and to review the attached floor plans.
The duplex is located on the north side of Lake Mingo Park in Nicholasville, Kentucky. Public remarks also indicate walkability to jobs, shopping, parks, and Main Street. Floor plans are available upon request, and the seller notes a mix of long-term tenancy and month-to-month tenants.
For buyers seeking a two-unit residential income setup, this layout offers two similar-sized homes with practical accessory space in the form of garages and unfinished basements. Utility responsibility is placed with tenants, and the recent exterior upgrades may help reduce near-term maintenance needs. Please do not disturb tenants; contact the listing agent for access and to review the attached floor plans.
Key Highlights
- Two townhomes for a rental portfolio, with a mix of long‑term and month‑to‑month tenants
- Each unit offers 2 bedrooms and 1.5 bathrooms, plus a one‑car garage and an unfinished basement
- Recent exterior updates include new roof, new siding, new gutters, and new windows
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.0k | $12.72 |
| − Vacancy | −$1.4k | −$0.53 |
| EGI | $32.5k | $12.19 |
| − OpEx | −$9.8k | −$3.66 |
| NOI | $22.8k | $8.53 |
2,670 SF · lease $12.72/SF/yr · vacancy 4.18% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$325.4K
$284.8K – $379.7K
NOI $22,780 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$291.2K
$254.8K – $339.7K
NOI $20,384 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$676.7K
$592.1K – $789.5K
NOI $47,368 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two 2-bedroom townhome units with garages and unfinished basements, renovated roof, siding, gutters, and windows.
Where is this duplex located?
The property is located at 166-168 Heritage Drive Nicholasville, KY.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two townhomes for a rental portfolio, with a mix of long‑term and month‑to‑month tenants; Each unit offers 2 bedrooms and 1.5 bathrooms, plus a one‑car garage and an unfinished basement; Recent exterior updates include new roof, new siding, new gutters, and new windows
