Duplex with One Renovation
For Sale
$290,000
121 Lakeview Dr, Nicholasville, KY 40356
One unit is ready for occupancy, while the second requires renovation work.
Property Size1,960 SF
Price / SF$147.96
Days on Market55
Property Features for 121 Lakeview Dr
General Information
Standard status
Active
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:
Keller Williams Bluegrass Realty
Listed By:
Lake Cumberland Real Estate Professional
(606) 677-0059
Source:
Lakecumberlandky
Added: Sep 4
Changed: Oct 27
Last Checked: Oct 26 at 3:24PM
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 Bluegrass Realty
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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 / Yr
$16,722
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
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
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 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 5.77%
Second Best
Apartment 5plus
$213.8K
$187.1K – $249.4K
NOI $14,964 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$496.7K
$434.7K – $579.5K
NOI $34,772 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
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 $290,000.
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
