Duplex with Walkout
New
For Sale
$559,000
3160 High Ridge Dr, Lexington, KY 40517
Both residences have five bedrooms, three full bathrooms, and separate walkout basements.
Property Size4,992 SF
Price / SF$111.98
Days on Market7
Property Features for 3160 High Ridge Dr
General Information
Standard status
Active
Size
4,992 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 5BR/3BA
Multifamily Units
2
Building Details
Year Built
1979
Year Renovated
2025
Listing Agency:
Better Homes And Gardens Fern Leaf Group
Listed By:
New Home Collective
(859) 721-2200
Source:
Nhcnow
Added: Oct 1
Changed: Oct 6
Last Checked: Oct 5 at 7:06PM
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 Better Homes And Gardens Fern Leaf Group
Investment Insights
Based on property information with market context.
Built in 1979, this 4,992-square-foot duplex has two residences, each arranged with five bedrooms, three full bathrooms, and a walkout basement. The interiors have been remodeled, including updated bathrooms, and new flooring was installed in 2025. Both sides also have new roofs and HVAC systems.
Key Highlights
- Two‑unit duplex with 5 bedrooms and 3 full bathrooms per residence
- Walkout basement in each unit
- 4,992 square feet; built in 1979
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,591
Cap Rate
7.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$851,820
$851.8K
Cap Rate 7%
$608,443
$608.4K
Cap Rate 9%
$473,233
$473.2K
Market Conditions
NOI Build-Up for 4,992 SF
Gross rent
$63.5K $12.72/SF
− Vacancy
−$2.7K −$0.53/SF
EGI
$60.8K $12.19/SF
− OpEx
−$18.3K −$3.66/SF
NOI
$42.6K $8.53/SF
Area
ZIP 40517
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%
$851,820
Cap Rate 7%
$608,443
Cap Rate 9%
$473,233
Alternative Uses
Best Use
Multifamily LT 5
$608.4K
$532.4K – $709.9K
NOI $42,591 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$544.5K
$476.4K – $635.2K
NOI $38,112 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$1.04M
$905.8K – $1.21M
NOI $72,460 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
Explore this area
Business Placement
Demographics for 40517, KY
37,751
Population
18,306
Households
2.1
Avg Household Size
33
Median Age
41%
College-Educated
92%
High-School Grad
6.2 sq mi
ZIP Area
6,089
Density / Sq Mi
$51,778
Median Household Income
$35,010
Median Earnings
$1,092
Median Rent
$196,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences have five bedrooms, three full bathrooms, and separate walkout basements.
Where is this duplex located?
The property is located at 3160 High Ridge Dr Lexington, KY.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Two‑unit duplex with 5 bedrooms and 3 full bathrooms per residence; Walkout basement in each unit; 4,992 square feet; built in 1979
