New Construction Duplex with
For Sale
$540,000
105-107 Elkchester Cir, Nicholasville, KY 40356
The layout includes stainless steel appliances, ample storage, and an oversized half bath.
Property Size3,128 SF
Price / SF$172.63
Days on Market17
Property Features for 105-107 Elkchester Cir
General Information
Standard status
Active
Size
3,128 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Amenities
stainless steel appliances
large walk-in pantry
large island
oversized half bath
9 foot ceilings
dual vanity
easy-clean shower
walk-in closets
linen closet
laundry room
back patio
front porch
Building Details
Year Built
2026
Stories
2
Listing Agency:
The Brokerage
(606) 677-0059
Listed By:
Lauren Haggard
Source:
Centralkyhomefinder
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 25 at 6:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Brokerage
Investment Insights
Based on property information with market context.
Built in 2026, this 3,128-square-foot duplex presents a two-story layout with a connected living and dining area, upgraded kitchen, stainless steel appliances, extensive cabinetry, a walk-in pantry, and additional storage. The main level also includes an oversized half bath. Upstairs are three bedrooms, including a primary suite with 9-foot ceilings, dual vanity, easy-clean shower, and walk-in closet. Two additional bedrooms feature walk-in closets, while a large hall bathroom and dedicated laundry room complete the upper level.
The property includes a one-car attached garage, front porch, and back patio, with the option to add a privacy fence. Located in Nicholasville, the duplex offers access to local amenities and is approximately 15 minutes from Lexington. Warranty coverage includes windows, roofing, HVAC, plumbing, and electrical work under terms ranging from one to 30 years.
The property includes a one-car attached garage, front porch, and back patio, with the option to add a privacy fence. Located in Nicholasville, the duplex offers access to local amenities and is approximately 15 minutes from Lexington. Warranty coverage includes windows, roofing, HVAC, plumbing, and electrical work under terms ranging from one to 30 years.
Key Highlights
- 3,128 SF duplex with 2026 construction
- Three‑bedroom, two‑story layout with dedicated laundry room
- Kitchen includes stainless steel appliances, ample cabinetry, island, and walk‑in pantry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,688
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$533,760
$533.8K
Cap Rate 7%
$381,257
$381.3K
Cap Rate 9%
$296,533
$296.5K
Market Conditions
NOI Build-Up for 3,128 SF
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.
Gross rent
$39.8K $12.72/SF
− Vacancy
−$1.7K −$0.53/SF
EGI
$38.1K $12.19/SF
− OpEx
−$11.4K −$3.66/SF
NOI
$26.7K $8.53/SF
Area
Jessamine County, KY
Vacancy
4.18%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$533,760
Cap Rate 7%
$381,257
Cap Rate 9%
$296,533
Alternative Uses
Best Use
Multifamily LT 5
$381.3K
$333.6K – $444.8K
NOI $26,688 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$341.2K
$298.5K – $398.0K
NOI $23,881 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$792.8K
$693.7K – $924.9K
NOI $55,493 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Explore this area
Business Placement
Demographics for 40356, KY
44,381
Population
17,934
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
90%
High-School Grad
139.5 sq mi
ZIP Area
318
Density / Sq Mi
$75,264
Median Household Income
$41,427
Median Earnings
$1,020
Median Rent
$246,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - The layout includes stainless steel appliances, ample storage, and an oversized half bath.
Where is this duplex located?
The property is located at 105-107 Elkchester Cir Nicholasville, KY.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 3,128 SF duplex with 2026 construction; Three‑bedroom, two‑story layout with dedicated laundry room; Kitchen includes stainless steel appliances, ample cabinetry, island, and walk‑in pantry
