Two-Unit Duplex with
For Sale
$285,000
415-417 Oak Street, Lexington, KY 40508
Residential Income, Lexington, KY
Property Size1,316 SF
Lot Size0.22 Acres
Price / SF$216.57
Days on Market84
Property Features for 415-417 Oak Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Zoning description
r-2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1
Parking
4
Parking features
On Street
Subdivision
Douglas Heights
Elementary school
Booker T Washington
Middle school
Winburn
High school
Dunbar
Elementary school district
Fayette County - 1
Middle school district
Fayette County - 1
High school district
Fayette County - 1
Directions
Newtown Pike to Georgetown street to Oak Street, duplex on the right
Standard status
Active
APN
15573500
Size
1,316 SF
Lot size
0.22 Acres
Utilities
Heating system
Baseboard
Cooling system
Window Unit(s)
Amenities
storage unit
Building Details
Year built
1977
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Allied Realty
(859) 494-9003
Listed By:
Susy Esquivel
(859) 489-5943
Added: Jul 31
Changed: Oct 12
Last Checked: Oct 22 at 7:06AM
MLS# 26020678
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.
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Investment Insights
Based on property information with market context.
This 1,316-square-foot duplex at 415-417 Oak Street contains two residences, each with 2 bedrooms and 1 full bath. Built in 1977, the property sits on a 0.22-acre lot and includes a storage unit that conveys with the sale. Baseboard heating, window unit cooling, composition roofing, and on-street parking serve the property.
Both units are occupied under month-to-month leases, providing a flexible existing tenancy arrangement. The property is located in Lexington, Fayette County, near shopping, schools, restaurants, and major roadways. R-2 zoning supports its residential duplex configuration.
Both units are occupied under month-to-month leases, providing a flexible existing tenancy arrangement. The property is located in Lexington, Fayette County, near shopping, schools, restaurants, and major roadways. R-2 zoning supports its residential duplex configuration.
Key Highlights
- Two‑unit duplex with 1,316 square feet of property size
- Each unit includes 2 bedrooms and 1 full bath
- Both tenants are on month‑to‑month leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,933
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$218,660
$218.7K
Cap Rate 7%
$156,186
$156.2K
Cap Rate 9%
$121,478
$121.5K
Market Conditions
NOI Build-Up for 1,316 SF
Gross rent
$16.4K $12.48/SF
− Vacancy
−$805 −$0.61/SF
EGI
$15.6K $11.87/SF
− OpEx
−$4.7K −$3.56/SF
NOI
$10.9K $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 Rate 5%
$218,660
Cap Rate 7%
$156,186
Cap Rate 9%
$121,478
Alternative Uses
Best Use
Multifamily LT 5
$156.2K
$136.7K – $182.2K
NOI $10,933 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$141.7K
$124.0K – $165.3K
NOI $9,918 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$274.2K
$239.9K – $319.9K
NOI $19,193 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 40508, KY
25,586
Population
11,458
Households
2.2
Avg Household Size
26
Median Age
36%
College-Educated
86%
High-School Grad
4.2 sq mi
ZIP Area
6,092
Density / Sq Mi
$28,040
Median Household Income
$13,316
Median Earnings
$900
Median Rent
$174,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - R-2-zoned duplex with separate residences, month-to-month tenancies, and an additional storage unit.
Where is this duplex located?
The property is located at 415-417 Oak Street Lexington, KY.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,316 square feet of property size; Each unit includes 2 bedrooms and 1 full bath; Both tenants are on month‑to‑month leases
