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    Casey County Multi-Home Estate Title is generated by Realmo AI

    376 378 384 Shugars Hill Road, Liberty, KY 42539

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    Claim this Listing
    New
    For Sale
    $999,000

    MULTI_FAMILY - Liberty, KY

    Property size:
    4,460 SF
    Lot size:
    22.00 Acres
    Price / SF:
    $223/SF
    Added:
    May 9, 2026
    Days on Market:
    5
    Last Refresh:
    May 13 at 6:06 am

    Property Features for 376 378 384 Shugars Hill Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    7
    Rooms
    Bedroom 6, Bedroom 4, Laundry Room, Bathroom 3, Bedroom 7, Bedroom 2, Bathroom 7, Bathroom 5, Bathroom 1, Bathroom 4, Bathroom 6, Bedroom 1, Bathroom 2, Bedroom 8, Bedroom 3, Bedroom 5
    Parking features
    Open
    Standard status
    Active
    APN
    069-02L
    Size
    4,460 SF
    Lot size
    22.00 Acres

    Utilities

    Heating system
    Wood, Heat Pump (Heating), Electric (Heating), Wood Stove
    Cooling system
    Electric, Central Air

    Building Details

    Year built
    2022
    Floors in Building
    2
    Number of units
    3
    Roof type
    Metal

    We can help!

    Listing Contact
    Terra Jeffries

    Listing agent Terra Jeffries

    Listing office RE/MAX Elite Realty 465 S Fourth St, Lexington, KY

    Listing date May 9, 2026

    MLS# 26010476 Listing URL

    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.

    HighLights

    • Three homes on 22 acres, ideal for family compound, rental investment, or multi‑generational living.
    • Two of the three homes are currently active Air BNBs, providing immediate income potential.
    • Secluded and private setting surrounded by mature trees, yet only 1/8 mile from town.
    • House #1 (built in 2024) features 4 bedrooms, 3 bathrooms, and upper/lower decks with 360‑degree views.
    • Houses #2 and #3 (built in 2022) each offer 2 bedrooms and 2 bathrooms and can be sold fully furnished.
    • Additional 4 building sites are already platted and perk tested for future expansion.

    Overview

    Located in Casey County, Kentucky, this 22-acre estate features three homes. The property is situated approximately 1/8 mile from town. A private road provides access to the residences, which are positioned to maximize privacy. House #1, constructed in 2024, includes 4 bedrooms and 3 full bathrooms. Upper and lower decks provide 360-degree views. House #2, built in 2022, features 2 bedrooms and 2 full bathrooms and can be sold fully furnished. House #3, also built in 2022 and known as The Holly House, offers 2 bedrooms and 2 full bathrooms and can also be sold fully furnished. The homes are located within the woods to minimize road noise. There are an additional 4 building sites already platted and perk tested. The property is suitable for a family compound, rental investment, retreat property, or multi-generational living. Two of the three homes are active Air BNBs. The total property size is 4460 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Big Box & Wholesale Store Gym & Fitness Center Department Store Clothing & Fashion Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Liberty
    County
    Casey
    State
    Kentucky
    Longitude
    -84.945153
    Latitude
    37.29304

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    FAQs

    What type of property is this?
    Short term rental property - 22-acre estate featuring three homes near Liberty, Kentucky.
    Where is this short term rental property located?
    The property is located at 376 378 384 Shugars Hill Road Liberty, KY.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: Three homes on 22 acres, ideal for family compound, rental investment, or multi‑generational living.; Two of the three homes are currently active Air BNBs, providing immediate income potential.; Secluded and private setting surrounded by mature trees, yet only 1/8 mile from town.
    (859) 312-0058
    We can help!
    Listing Contact
    Terra Jeffries
    Learn More
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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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