Five-Bedroom
New
For Sale
$775,000
1056-1058 Fontaine Rd, Lexington, KY 40502
Two separate living units with private kitchens, spacious common areas, a front porch, and a large backyard.
Property Size3,149 SF
Price / SF$246.11
Days on Market4
Property Features for 1056-1058 Fontaine Rd
General Information
Standard status
Active
Size
3,149 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
front porch
large backyard
storage
laundry facilities
Building Details
Year Built
1926
Buildings
1
Listing Agency:
Keller Williams Legacy Group
Listed By:
Lake Cumberland Real Estate Professional
(606) 677-0059
Source:
Lakecumberlandky
Added: Sep 13
Changed: Sep 15
Last Checked: Sep 15 at 7:01AM
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 Keller Williams Legacy Group
Investment Insights
Based on property information with market context.
Built in 1926, this 3,149-square-foot duplex at 1056-1058 Fontaine Rd includes two distinct residential units with a combined five bedrooms and two bathrooms. The layout provides a three-bedroom, one-bath unit alongside a two-bedroom, one-bath unit, with living and dining areas, kitchens, and generously sized bedrooms in each residence. A lower level adds storage and laundry facilities, while the first-floor unit includes a laundry hookup. Exterior features include a front porch and large backyard. The property is situated in Lexington’s Ashland Park neighborhood, with access to parks, schools, dining, shopping, and downtown Lexington. It is located within the Historic H-1 Overlay and is offered as-is, with inspections welcome.
Key Highlights
- 3,149 SF duplex built in 1926
- Five bedrooms and two bathrooms across two units
- Unit mix includes 3 bedrooms/1 bath and 2 bedrooms/1 bath
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
$26,162
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
3.38%
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%
$523,240
$523.2K
Cap Rate 7%
$373,743
$373.7K
Cap Rate 9%
$290,689
$290.7K
Market Conditions
NOI Build-Up for 3,149 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
$39.3K $12.48/SF
− Vacancy
−$1.9K −$0.61/SF
EGI
$37.4K $11.87/SF
− OpEx
−$11.2K −$3.56/SF
NOI
$26.2K $8.31/SF
Area
Lexington, KY
Vacancy
4.90%
Lease Rate
$12.48 /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%
$523,240
Cap Rate 7%
$373,743
Cap Rate 9%
$290,689
Alternative Uses
Best Use
Multifamily LT 5
$373.7K
$327.0K – $436.0K
NOI $26,162 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$339.0K
$296.7K – $395.6K
NOI $23,733 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$656.1K
$574.1K – $765.4K
NOI $45,926 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Explore this area
Business Placement
Demographics for 40502, KY
26,080
Population
14,232
Households
1.8
Avg Household Size
40
Median Age
67%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
3,673
Density / Sq Mi
$73,939
Median Household Income
$46,197
Median Earnings
$1,068
Median Rent
$483,600
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 - Two separate living units with private kitchens, spacious common areas, a front porch, and a large backyard.
Where is this duplex located?
The property is located at 1056-1058 Fontaine Rd Lexington, KY.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 3,149 SF duplex built in 1926; Five bedrooms and two bathrooms across two units; Unit mix includes 3 bedrooms/1 bath and 2 bedrooms/1 bath
