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Income Duplex with Separate Utilities

1028 Merrick, Richmond, KY 40475

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For Sale

$335,000

MULTI_FAMILY - Richmond, KY

Property size:

2,350 SF

Lot size:

0.22 Acres

Price / SF:

$142/SF

We can help!

Contact an agent

Makenzie Griffis

Real Estate License ID: 373232

HighLights

Income‑producing duplex property with two separate units, offering immediate rental income.
Tenants responsible for all utilities due to separately metered electric and water.
Convenient Richmond, KY location, close to Eastern Kentucky University, shopping, dining and more.
One unit is remodeled, while the other offers the opportunity for updates.
HVAC systems for both units were replaced in September 2018.
Exterior features include bay windows, stonework detailing, and laser‑engraved address.

For Sale

$335,000

MULTI_FAMILY - Richmond, KY

Property size:

2,350 SF

Lot size:

0.22 Acres

Price / SF:

$142/SF

Added:: Mar 23, 2026
Days on Market:: 107
Last Refresh:: Jul 7 at 8:06 am

Property Features for 1028 Merrick

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 4
Bathrooms: 4
Rooms: Bedroom 3, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 1
Standard status: Active
Size: 2,350 SF
Lot size: 0.22 Acres

Taxes and HOA fees

Tax Annual Amount: 1651

Utilities

Heating system: Electric (Heating), Forced Air
Water source: Public

Building Details

Year built: 1999
Floors in Building: 2
Flooring type: Tile, Hardwood, Carpet
Building materials: Vinyl Siding, Brick
Roof type: Asphalt

We can help!

Contact an agent

Makenzie Griffis

Listing agent Makenzie Griffis License #373232

Listing office Grateful Acres Realty 2791 Cascade Dr, Clarksville, KY

Listing date Mar 23, 2026

MLS# 11738818 Listing URL

HighLights

Income‑producing duplex property with two separate units, offering immediate rental income.
Tenants responsible for all utilities due to separately metered electric and water.
Convenient Richmond, KY location, close to Eastern Kentucky University, shopping, dining and more.
One unit is remodeled, while the other offers the opportunity for updates.
HVAC systems for both units were replaced in September 2018.
Exterior features include bay windows, stonework detailing, and laser‑engraved address.

Overview

This duplex property contains two separate living units, each with pull-down attic stair access for additional storage. Side 1 has been remodeled and is leased month-to-month. Side 2 is leased on a year-long term and offers an opportunity for updates. Both units are separately metered for electric and water, and tenants are responsible for electric, water, and trash, which can help reduce owner utility expenses. The property is serviced by city water and sewer and is all-electric with no gas. HVAC systems for both units were replaced in September 2018. Exterior details include bay windows on both sides, stonework detailing with keystones above the windows, and a laser-engraved address in stone. A rear storage building provides space for lawn equipment such as a mower, blower, and weed eater. There is no HOA.

The property is located in Richmond, KY, within proximity to Eastern Kentucky University, local shopping, dining, and healthcare facilities. Outdoor recreation nearby includes Lake Reba Park and Paradise Cove Aquatic Center.

For buyers or owner-occupants, this setup can fit scenarios where separate rental terms and tenant-paid utilities reduce operational complexity. The month-to-month structure on Side 1 may support greater flexibility for future adjustments, while Side 2’s current lease can provide ongoing tenant occupancy alongside potential for future improvements.

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

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Local Demand

City: Richmond
County: Madison
State: Kentucky
Longitude: -84.277041
Latitude: 37.752979

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For sale
Duplexes
KY
Richmond
40475
1028 Merrick

What type of property is this?

Duplex - Two separate units are separately metered for electric and water, supporting tenant-paid utilities and flexible occupancy.

Where is this duplex located?

The property is located at 1028 Merrick Richmond, KY.

What is the asking price?

The asking price for this property is $335,000.

What are key features of this property?

This property features: Income‑producing duplex property with two separate units, offering immediate rental income.; Tenants responsible for all utilities due to separately metered electric and water.; Convenient Richmond, KY location, close to Eastern Kentucky University, shopping, dining and more.

1028 Merrick, Richmond, KY 40475

MULTI_FAMILY - Richmond, KY

Property Features for 1028 Merrick

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Signalized Intersection Mixed-Use Property

Restaurant Building with Walk-In Cooler

Richmond, KY Commercial Opportunity

Duplex with Attached Garages

Richmond Conference Hall For Sale

Leased Duplex Income Property

Versatile Mixed-Use Property, Richmond, KY

Turnkey Duplex Income Property

Income Duplex with Two 2BR Units

Duplex with Two 2BR Units

Versatile Flex Space in Richmond

Downtown Richmond Mixed-Use Opportunity

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