New Construction Duplex with
New
For Sale
$540,000
105-107 Elkchester Circle, Nicholasville, KY 40356
Residential, Nicholasville, KY
Property Size3,128 SF
Lot Size0.30 Acres
Price / SF$172.63
Days on Market1
Property Features for 105-107 Elkchester Circle
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 3, Bathroom 5, Bathroom 4, Bedroom 1, Bathroom 6, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 3, Laundry Room, Bedroom 2, Bedroom 6, Bathroom 2
Parking features
Garage, Garage - Attached, Driveway
Window features
Screens
Interior features
Eat-in Kitchen, Walk-In Closet(s), Ceiling Fan(s)
Appliances
Dishwasher, Microwave, Refrigerator, Range
Subdivision
G N Miles
Elementary school
Warner
Middle school
East Jessamine Middle School
High school
East Jess HS
Elementary school district
Jessamine County - 9
Middle school district
Jessamine County - 9
High school district
Jessamine County - 9
Directions
Miles Road to Elkchester. Duplex on corner of Elkchester & Josephine
Standard status
Active
Size
3,128 SF
Lot size
0.30 Acres
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Flooring type
Carpet, Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
The Brokerage
(859) 983-7365
Listed By:
Lauren Haggard
(859) 338-8889
Added: Sep 8
Last Checked: Sep 8 at 4:06PM
MLS# 26024624
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 duplex is under construction and scheduled for completion in 2026, with 3,128 square feet of total property area on a 0.3037-acre lot. The layout includes six bedrooms, six bathrooms, living and dining areas, upgraded kitchens with stainless steel appliances, ample cabinetry, walk-in pantries, and large islands. Additional interior features include walk-in closets, designated laundry rooms, vinyl and carpet flooring, heat pump heating and cooling, and oversized half baths. Each residence includes an attached one-car garage, driveway parking, front porch, and back patio. The property has public water and sewer service, vinyl siding, and a shingle roof.
Key Highlights
- Duplex totaling 3,128 square feet on a 0.3037‑acre lot
- Six bedrooms and six bathrooms across the property
- Upgraded kitchens with stainless steel appliances, ample cabinetry, walk‑in pantries, and islands
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
348
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property offers upgraded kitchens, attached garage parking, back patio space, and no HOA.
Where is this duplex located?
The property is located at 105-107 Elkchester Circle 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: Duplex totaling 3,128 square feet on a 0.3037‑acre lot; Six bedrooms and six bathrooms across the property; Upgraded kitchens with stainless steel appliances, ample cabinetry, walk‑in pantries, and islands
