Updated Duplex with
For Sale
$350,000
170172 170-172 Heritage Dr, Nicholasville, KY 40356
Two occupied townhome-style units offer separate living arrangements with garage parking and unfinished basement space.
Property Size2,670 SF
Price / SF$131.09
Days on Market31
Property Features for 170172 170-172 Heritage Dr
General Information
Standard status
Active
Size
2,670 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1988
Tenancy
Multi
Listing Agency:
RE/MAX Elite Realty
Listed By:
Terra Jeffries · License #223352
(859) 312-0058
Source:
Meliarealty
Added: Sep 7
Changed: Oct 3
Last Checked: Oct 5 at 10:37PM
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 RE/MAX Elite Realty
Investment Insights
Based on property information with market context.
This 2,670-square-foot duplex contains two occupied townhome-style residences, each arranged with 2 bedrooms, 1.5 bathrooms, a one-car garage, and an unfinished basement. Built in 1988, the property has received updates including a new roof, siding, gutters, and windows. Tenants are responsible for all utilities.
The property sits along the north side of the recently upgraded Lake Mingo Park, with access to jobs, shopping, parks, and Main Street within walking distance. The two-unit configuration supports continued rental use or an owner-occupant arrangement with a separate unit for rental income.
The property sits along the north side of the recently upgraded Lake Mingo Park, with access to jobs, shopping, parks, and Main Street within walking distance. The two-unit configuration supports continued rental use or an owner-occupant arrangement with a separate unit for rental income.
Key Highlights
- Two occupied townhome‑style units totaling 2,670 square feet
- Each unit includes 2 bedrooms, 1.5 bathrooms, a one‑car garage, and an unfinished basement
- 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.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied townhome-style units offer separate living arrangements with garage parking and unfinished basement space.
Where is this duplex located?
The property is located at 170172 170-172 Heritage Dr 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‑style units totaling 2,670 square feet; Each unit includes 2 bedrooms, 1.5 bathrooms, a one‑car garage, and an unfinished basement; New roof, siding, gutters, and windows
