Duplex with One Renovation
For Sale
$295,000
Pending
121 Lakeview Dr, Nicholasville, KY 40356
One unit is ready for occupancy, while the second requires renovation work.
Property Size1,960 SF
Days on Market8
Property Features for 121 Lakeview Dr
General Information
Standard status
Pending
Size
1,960 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
needs some work
Additional Details
Multifamily Units
2
Building Details
Year Built
1992
Listing Agency:
The Gibson Company
Listed By:
Lake Cumberland Real Estate Professional
(606) 677-0059
Source:
Lakecumberlandky
Added: Sep 4
Changed: Sep 10
Last Checked: Sep 11 at 7:55AM
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 Gibson Company
Investment Insights
Based on property information with market context.
Located at 121 Lakeview Dr in Nicholasville, this duplex contains 1,960 square feet and was built in 1992. The property offers two separate residential units with differing conditions, creating a clear distinction between immediate occupancy and renovation needs.
One side is move-in ready, while the other requires work. That configuration may suit an owner-occupant seeking a residence with a separate unit or an investor planning improvements, without assuming a specific future use or income result.
One side is move-in ready, while the other requires work. That configuration may suit an owner-occupant seeking a residence with a separate unit or an investor planning improvements, without assuming a specific future use or income result.
Key Highlights
- Duplex configuration with two separate residential units
- 1,960 square feet of total property size
- One unit is move‑in ready
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
$16,722
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
5.67%
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%
$334,440
$334.4K
Cap Rate 7%
$238,886
$238.9K
Cap Rate 9%
$185,800
$185.8K
Market Conditions
NOI Build-Up for 1,960 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
$24.9K $12.72/SF
− Vacancy
−$1.0K −$0.53/SF
EGI
$23.9K $12.19/SF
− OpEx
−$7.2K −$3.66/SF
NOI
$16.7K $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%
$334,440
Cap Rate 7%
$238,886
Cap Rate 9%
$185,800
Alternative Uses
Best Use
Multifamily LT 5
$238.9K
$209.0K – $278.7K
NOI $16,722 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$213.8K
$187.1K – $249.4K
NOI $14,964 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$496.7K
$434.7K – $579.5K
NOI $34,772 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
572
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
Check the figures for this property
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 - One unit is ready for occupancy, while the second requires renovation work.
Where is this duplex located?
The property is located at 121 Lakeview Dr Nicholasville, KY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Duplex configuration with two separate residential units; 1,960 square feet of total property size; One unit is move‑in ready
