Lexington Duplex: Modern Investment
3884 Sugar Creek Drive, Lexington, KY 40517
- Added:
- Apr 8, 2026
- Days on Market:
- 56
- Last Refresh:
- Jun 2 at 7:06 pm
Property Features for 3884 Sugar Creek Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-1
- Bedrooms
- 8
- Bathrooms
- 5
- Rooms
- Bedroom 5, Bathroom 6, Bathroom 5, Bedroom 6, Bedroom 7, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 2, Laundry Room, Bedroom 1, Bedroom 8
- Parking
- 2
- Standard status
- Pending
- APN
- 193341950
- Size
- 3,700 SF
- Lot size
- 0.20 Acres
Utilities
- Utilities
- Cable Available
- Heating system
- Natural Gas
- Cooling system
- Electric, Central Air
Building Details
- Year built
- 2003
- Floors in Building
- 3
- Number of units
- 2
- Roof type
- Shingle
Listing agent Deborah S Adams License #198681 (859) 983-9501
Listing office Home Forward 356 Longview Plaza #140, Lexington, KY (859) 687-9791
Listing date Apr 8, 2026
MLS# 26007339
Listing URL
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.
HighLights
- Strong Investment Potential: Rare duplex opportunity with options for owner‑occupancy and rental income.
- Spacious Living: Each unit features 4 bedrooms and 2.5 baths, with separate dining areas.
- Desirable Lexington Location: Located in a quiet cul‑de‑sac, close to amenities, parks, and major routes.
- Recent Updates: Enjoy fresh paint and waterproof luxury vinyl plank flooring throughout.
- Finished Basement & Garage: Each unit includes a finished basement and a basement garage.
- Outdoor Living: Relax or entertain on the inviting covered front porch and private back deck.
Overview
This well-maintained duplex presents a rare investment opportunity, blending modern style and functionality. Located at the end of a quiet cul-de-sac in a desirable Lexington neighborhood, the property offers both peace and convenience. Each side of the duplex features 4 spacious bedrooms and 2 1/2 baths, designed for comfortable living. Recent updates include fresh paint and waterproof luxury vinyl plank flooring throughout, with carpet only on the stairs. Both units include a separate dining area in addition to a generous living space. Outdoor living is enhanced by a covered front porch and a private back deck. Each unit also includes a finished basement space suitable as a playroom, home office, craft room, or extra living area, plus basement garages for secure parking and convenient storage. The property is situated minutes from Tates Creek Centre, the Tates Creek Library, and local shopping for groceries, dining, and everyday needs. It is also close to parks and recreation, including Waveland State Historic Site, the State Botanical Garden of Kentucky, and Kirklevington Park. Easy access to New Circle Road and major commuting routes provides convenient access to downtown Lexington and the University of Kentucky. The property sits on a lot of approximately 0.204 acres and offers 3700 square feet of living space. The property's zoning is R-1. The property offers versatility, whether for living in one unit and generating rental income from the other, or maximizing returns with full tenancy.
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 | $47.1k | $12.72 |
| − Vacancy | −$2.0k | −$0.53 |
| EGI | $45.1k | $12.19 |
| − OpEx | −$13.5k | −$3.66 |
| NOI | $31.6k | $8.53 |
3,700 SF · lease $12.72/SF/yr · vacancy 4.18% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$451.0K
$394.6K – $526.1K
NOI $31,568 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$403.5K
$353.1K – $470.8K
NOI $28,248 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$767.2K
$671.3K – $895.1K
NOI $53,706 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Fayette
- State
- Kentucky
- Longitude
- -84.500868
- Latitude
- 37.97523
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Well-maintained duplex in Lexington with strong income potential.
Where is this duplex located?
The property is located at 3884 Sugar Creek Drive Lexington, KY.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Strong Investment Potential: Rare duplex opportunity with options for owner‑occupancy and rental income.; Spacious Living: Each unit features 4 bedrooms and 2.5 baths, with separate dining areas.; Desirable Lexington Location: Located in a quiet cul‑de‑sac, close to amenities, parks, and major routes.
