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    1.5-Story Residential Farm with Workshop Title is generated by Realmo AI

    2550 New Hope Road, New Haven, KY 40051

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    For Sale
    $699,000

    Residential Farm, 1-1/2 Story - New Haven, KY

    Type:Farm
    Property size:
    1,614 SF
    Lot size:
    27.23 Acres
    Price / SF:
    $433/SF
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 5:06 pm

    Property Features for 2550 New Hope Road

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Parking features
    Garage, Garage - Attached
    Patio and Porch features
    Porch
    Interior features
    Ceiling Fan(s), Vaulted Ceiling(s)
    Exterior features
    Out Building, Workshop, Enclosed Porch, Gazebo, Landscaping, Mature Trees, Storage Shed, Trees, All/Perimeter, Fence
    Fencing
    Fenced, Perimeter
    Fireplace
    1
    Appliances
    None
    Standard status
    Active
    Size
    1,614 SF
    Lot size
    27.23 Acres

    Utilities

    Heating system
    Fireplace(s), Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2000
    Flooring type
    Hardwood
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Gazebo, Packing Shed, Shed(s), Storage, Workshop

    We can help!

    Listing Contact
    Presley Waddle

    Listing agent Presley Waddle

    Listing office River Brook Realty LLC 365 E Western Ave, Sonora, KY

    Listing date Jun 3, 2026

    MLS# HK2602264 Listing URL

    Copyright © 2026 Heart of Kentucky Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3‑bedroom, 2‑bath home on 27.23 acres, built in 2000
    • Stocked pond with dock and pavilion on the property
    • Attached 2‑car garage plus a 30x30 workshop for storage, hobbies, or equipment
    • Hardwood flooring with vaulted ceilings and ceiling fans
    • Central air conditioning and heat pump heating, plus a fireplace
    • Fenced, perimeter‑fenced property with outbuilding(s), enclosed porch, gazebo, and storage shed

    Overview

    This 1.5-story residential farm home features three bedrooms and two bathrooms, with hardwood flooring and custom wood trim throughout. Large windows provide natural light and views of the surrounding acreage and pond. The property includes an attached two-car garage, as well as a 30x30 workshop that can support storage needs, hobbies, or equipment. Outside, the grounds include a stocked pond with a dock and pavilion.

    Located at 2550 New Hope Road in New Haven, Kentucky 40051, the home sits on 27.23 acres in Nelson County. The setting is designed around the water feature and open land, with outdoor improvements that complement day-to-day use of the property.

    For buyers seeking a residential setup with functional outbuildings and acreage, this home offers both living space and dedicated shop/storage capacity. The pond amenities, along with the dock and pavilion, provide on-site water and gathering space, while the attached garage and separate workshop support practical maintenance and equipment organization. The interior’s hardwood and wood trim details, paired with the abundance of windows, create a comfortable, light-filled environment for everyday living within a farm-style property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Bed & Breakfast Coworking & Hybrid Office Restaurant

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    Nelson
    State
    Kentucky
    Longitude
    -85.55363
    Latitude
    37.6549797

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    FAQs

    What type of property is this?
    Single family property - A 3-bedroom, 2-bath farmhouse on 27+ acres with a stocked pond, dock, pavilion, and a 30x30 workshop.
    Where is this single family property located?
    The property is located at 2550 New Hope Road New Haven, KY.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: 3‑bedroom, 2‑bath home on 27.23 acres, built in 2000; Stocked pond with dock and pavilion on the property; Attached 2‑car garage plus a 30x30 workshop for storage, hobbies, or equipment
    (270) 735-7561
    We can help!
    Listing Contact
    Presley Waddle
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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