Duplex with Updated
For Sale
$350,000
170-172 Heritage Drive, Nicholasville, KY 40356
Residential Income, Nicholasville, KY
Property Size2,670 SF
Lot Size0.13 Acres
Price / SF$131.09
Days on Market95
Property Features for 170-172 Heritage Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Zoning description
Residential multi family
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Laundry Room, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 1, Bathroom 3
Parking
6
Parking features
Covered, Open
Subdivision
Orchard
Elementary school
Red Oak
Middle school
East Jessamine Middle School
High school
East Jess HS
Elementary school district
Jessamine County - 9
Middle school district
Jessamine County - 9
High school district
Jessamine County - 9
Directions
Main Street to Strawberry to Heritage. 166-168 will be on the left
Standard status
Active
APN
057-40-12-048.00
Size
2,670 SF
Lot size
0.13 Acres
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1988
Floors in Building
3
Number of units
2
Roof type
Shingle
Listing Agency:
RE/MAX Elite Realty Danville · RE/MAX International
(859) 209-5036
Listed By:
Terra Jeffries · License #223352
(859) 312-0058
Added: Jul 29
Changed: Oct 19
Last Checked: Oct 31 at 6:06AM
MLS# 26020566
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.
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Investment Insights
Based on property information with market context.
This duplex contains two occupied townhome units with 2 bedrooms per unit, individual one-car garages, and unfinished basements. The property totals 2,670 square feet on a 0.1286-acre lot and was built in 1988. Recent exterior improvements include a new roof, siding, gutters, and windows. Interior systems include natural gas and heat pump heating, central air, and cable availability.
The property is positioned on the north side of Lake Mingo Park in Nicholasville, with stated walkability to jobs, shopping, parks, and Main Street. Zoned R-2, the asset offers a two-unit configuration with tenants responsible for all utilities. Open and covered parking are included.
The property is positioned on the north side of Lake Mingo Park in Nicholasville, with stated walkability to jobs, shopping, parks, and Main Street. Zoned R-2, the asset offers a two-unit configuration with tenants responsible for all utilities. Open and covered parking are included.
Key Highlights
- Two occupied townhome units with 2 bedrooms per unit
- 2,670 square feet on a 0.1286‑acre lot
- New roof, siding, gutters, and windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,780
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$455,600
$455.6K
Cap Rate 7%
$325,429
$325.4K
Cap Rate 9%
$253,111
$253.1K
Market Conditions
NOI Build-Up for 2,670 SF
Gross rent
$34.0K $12.72/SF
− Vacancy
−$1.4K −$0.53/SF
EGI
$32.5K $12.19/SF
− OpEx
−$9.8K −$3.66/SF
NOI
$22.8K $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%
$455,600
Cap Rate 7%
$325,429
Cap Rate 9%
$253,111
Alternative Uses
Best Use
Multifamily LT 5
$325.4K
$284.8K – $379.7K
NOI $22,780 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$291.2K
$254.8K – $339.7K
NOI $20,384 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$676.7K
$592.1K – $789.5K
NOI $47,368 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
439
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied townhome units offer individual garages, unfinished basements, and separate utility responsibility.
Where is this duplex located?
The property is located at 170-172 Heritage Drive Nicholasville, KY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two occupied townhome units with 2 bedrooms per unit; 2,670 square feet on a 0.1286‑acre lot; New roof, siding, gutters, and windows
