Residential Income
1346 Ohio Terrace Lexington, KY 40508
1346 Ohio Terrace, Lexington, KY, 40508
$179,900
For Sale
$179,900
MULTI_FAMILY - Lexington, KY
Property Size2,100 SF
Lot Size0.05 Acres
Price / SF$85.67
Days on Market86
Property Features for 1346 Ohio Terrace
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2
- Standard status
- Active
- APN
- 1049240
- Size
- 2,100 SF
- Lot size
- 0.05 Acres
Utilities
- Heating system
- Electric (Heating), Heat Pump (Heating)
- Cooling system
- Electric
Building Details
- Year built
- 1930
- Roof type
- Shingle
Listing Agency
CENTURY 21 Advantage Realty
(859) 721-0121
2121 Nicholasville Rd Ste 101, Danville, KY
Listed by
Sharon Angelina A Allen
(859) 797-1491
Added: Apr 24 Checked: Jul 18 at 12:06 am
MLS# 26009063
Listing URL
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 turnkey duplex is being offered as a residential income property, currently producing $1,500 per month in rental income. The property includes 2,100 square feet of space on a 0.048-acre lot.
Located at 1346 Ohio Terrace in Lexington, Kentucky 40508, the offering is in Fayette County.
The listing also notes that up to 4 additional properties can be added, allowing investors to build a larger portfolio of income-producing assets.
Located at 1346 Ohio Terrace in Lexington, Kentucky 40508, the offering is in Fayette County.
The listing also notes that up to 4 additional properties can be added, allowing investors to build a larger portfolio of income-producing assets.
Key Highlights
- $1,500/month rental income reported
- 1930 year built
- Heating includes electric heating and a heat pump
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.7k | $14.64 |
| − Vacancy | −$2.0k | −$0.94 |
| EGI | $28.8k | $13.70 |
| − OpEx | −$12.9k | −$6.17 |
| NOI | $15.8k | $7.54 |
2,100 SF · lease $14.64/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$249.2K
$218.1K – $290.8K
NOI $17,447 @ 7.0% cap · market cap 9.70%
Second Best
Apartment 5plus
$226.1K
$197.8K – $263.8K
NOI $15,827 @ 7.0% cap · market cap 8.80%
Theoretical Best
Office A
$437.5K
$382.8K – $510.5K
NOI $30,627 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Turnkey duplex generating $1,500 per month in rental income with 2,100 square feet on a 0.048-acre lot.
Where is this duplex located?
The property is located at 1346 Ohio Terrace Lexington, KY.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: $1,500/month rental income reported; 1930 year built; Heating includes electric heating and a heat pump
