All-Brick Duplex on a Quiet
For Sale
$289,000
2004-2006 Writt Court, Lexington, KY 40505
MULTI_FAMILY - Lexington, KY
Property Size1,932 SF
Lot Size0.26 Acres
Price / SF$149.59
Days on Market64
Property Features for 2004-2006 Writt Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-1
Zoning description
R-1D
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 3, Laundry Room
Subdivision
Deep Springs
Elementary school
Deep Springs
Middle school
Bryan Station
High school
Bryan Station
Elementary school district
Fayette County - 1
Middle school district
Fayette County - 1
High school district
Fayette County - 1
Directions
New Circle Road to Eastland Parkway - Left onto Anniston Drive - Right onto Writt Court - destination on right - Latitude: 38.060699 Longitude: -84.43909
Standard status
Active
APN
11060500
Size
1,932 SF
Lot size
0.26 Acres
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Amenities
washer/dryer hookup
Building Details
Year built
1965
Floors in Building
2
Number of units
2
Roof type
Shingle
Listing Agency:
Bluegrass Rental Management LLC
Listed By:
Dylan Palmer
(714) 403-9465
Added: Jun 30
Changed: Aug 5
Last Checked: Sep 1 at 6:06AM
MLS# 26018459
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 all-brick duplex offers two-bedroom, full-bath living space on each side, with a living room and kitchen. Each unit includes the stove and refrigerator staying with the unit, plus a washer/dryer hookup. The property is heated with natural gas and cooled with central air.
Built in 1965, the duplex sits on a 0.2629-acre lot on a quiet court. It is located in Lexington, KY (Fayette County) at 2004–2006 Writt Court.
The existing room layout includes a laundry room and bedrooms 1 through 3 and 4, along with bathroom 1 and bathroom 2, supporting straightforward unit use and tenant day-to-day functionality.
Built in 1965, the duplex sits on a 0.2629-acre lot on a quiet court. It is located in Lexington, KY (Fayette County) at 2004–2006 Writt Court.
The existing room layout includes a laundry room and bedrooms 1 through 3 and 4, along with bathroom 1 and bathroom 2, supporting straightforward unit use and tenant day-to-day functionality.
Key Highlights
- All‑brick duplex with two‑bedroom, full‑bath layouts on each side
- Stove and refrigerator stay with the units
- Washer/dryer hookups in each unit
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
$16,051
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
5.55%
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%
$321,020
$321.0K
Cap Rate 7%
$229,300
$229.3K
Cap Rate 9%
$178,344
$178.3K
Market Conditions
NOI Build-Up for 1,932 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
$24.1K $12.48/SF
− Vacancy
−$1.2K −$0.61/SF
EGI
$22.9K $11.87/SF
− OpEx
−$6.9K −$3.56/SF
NOI
$16.1K $8.31/SF
Area
Lexington, KY
Vacancy
4.90%
Lease Rate
$12.48 /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%
$321,020
Cap Rate 7%
$229,300
Cap Rate 9%
$178,344
Alternative Uses
Best Use
Multifamily LT 5
$229.3K
$200.6K – $267.5K
NOI $16,051 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$208.0K
$182.0K – $242.7K
NOI $14,561 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$402.5K
$352.2K – $469.6K
NOI $28,177 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 40505, KY
26,278
Population
12,026
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,285
Density / Sq Mi
$58,922
Median Household Income
$33,517
Median Earnings
$914
Median Rent
$166,300
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 - All-brick duplex with two-bedroom layouts and central air, built in 1965 on a quiet court.
Where is this duplex located?
The property is located at 2004-2006 Writt Court Lexington, KY.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: All‑brick duplex with two‑bedroom, full‑bath layouts on each side; Stove and refrigerator stay with the units; Washer/dryer hookups in each unit
