Five-Bedroom Duplex with Front
New
For Sale
$775,000
1056-1058 Fontaine Road, Lexington, KY 40502
Residential Income, Lexington, KY
Property Size3,149 SF
Lot Size0.22 Acres
Price / SF$246.11
Days on Market2
Property Features for 1056-1058 Fontaine Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-2
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Laundry Room, Bedroom 3, Bedroom 2
Parking features
Offsite
Subdivision
Ashland Park
Elementary school
Cassidy
Middle school
Morton
High school
Henry Clay
Elementary school district
Fayette County - 1
Middle school district
Fayette County - 1
High school district
Fayette County - 1
Directions
From High Street/Tates Creek Road, turn on to Fontaine. Home will be on the right.
Standard status
Active
APN
16368100
Size
3,149 SF
Lot size
0.22 Acres
Utilities
Heating system
Natural Gas
Cooling system
Electric
Amenities
storage
laundry facilities
Building Details
Year built
1926
Listing Agency:
Bluegrass Sotheby's International Realty
(859) 268-0099
Listed By:
K Meredith Lane · License #214344
(859) 539-9169
Added: Sep 11
Last Checked: Sep 12 at 10:06AM
MLS# 26025074
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 1926 duplex contains 3,149 square feet on a 0.2236-acre lot. One unit offers three bedrooms and one bathroom, while the other includes two bedrooms and one bathroom. Each residence has its own kitchen, living and dining areas, and bright interior spaces. A front porch, large backyard, lower-level storage, and laundry facilities add usable amenity space; the first-floor unit also has a laundry hookup. Heating is provided by natural gas, with electric cooling, and parking is offsite.
The property is located in Lexington’s Ashland Park neighborhood at 1056-1058 Fontaine Road. Parks, schools, dining, shopping, and downtown Lexington are identified as nearby points of access. The home is within the Historic H-1 Overlay and is being offered AS-IS, with inspections welcome. A 48-hour showing heads-up is requested.
The property is located in Lexington’s Ashland Park neighborhood at 1056-1058 Fontaine Road. Parks, schools, dining, shopping, and downtown Lexington are identified as nearby points of access. The home is within the Historic H-1 Overlay and is being offered AS-IS, with inspections welcome. A 48-hour showing heads-up is requested.
Key Highlights
- 3,149‑square‑foot duplex on a 0.2236‑acre lot
- Five bedrooms and two bathrooms across two units: 3/1 and 2/1
- Built in 1926 with natural gas heating and electric cooling
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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate units provide flexible living arrangements with kitchens, dining areas, and lower-level storage and laundry facilities.
Where is this duplex located?
The property is located at 1056-1058 Fontaine Road 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‑square‑foot duplex on a 0.2236‑acre lot; Five bedrooms and two bathrooms across two units: 3/1 and 2/1; Built in 1926 with natural gas heating and electric cooling
