Two-Unit Duplex with Metal
For Sale
$110,000
511 E 7th Street, Lexington, KY 40505
Residential Income, Lexington, KY
Property Size640 SF
Lot Size0.06 Acres
Price / SF$171.88
Days on Market48
Property Features for 511 E 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Subdivision
Downtown
Elementary school
William Wells Brown
Middle school
Lexington Trad
High school
Frederick Douglass
Elementary school district
Fayette County - 1
Middle school district
Fayette County - 1
High school district
Fayette County - 1
Directions
From Winchester Road, turn on to Seventh Street. Properties are located on the right.
Standard status
Active
APN
14944600
Size
640 SF
Lot size
0.06 Acres
Utilities
Cooling system
Wall Unit(s)
Building Details
Year built
1900
Floors in Building
1
Number of units
2
Roof type
Metal
Listing Agency:
Bluegrass Sotheby's International Realty
(859) 268-0099
Listed By:
Elizabeth L Herrington · License #245796
(859) 699-2655
Added: Aug 31
Changed: Oct 12
Last Checked: Oct 17 at 7:06AM
MLS# 26023793
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 640-square-foot duplex at 511 E. 7th Street contains two separate living spaces within one structure. Each residence includes one bedroom, one full bathroom, a kitchen, and a combined living area. Tile flooring runs throughout the property, and the building has a metal roof with wall-unit cooling. Constructed in 1900, the property offers a compact two-unit configuration in Lexington’s 40505 postal area.
Parking is accessed through the driveway and rear parking area behind 507 E. 7th Street, which also serves 511 E. 7th Street. The duplex is being offered only as part of a combined sale with 507 E. 7th Street and is not available separately.
Parking is accessed through the driveway and rear parking area behind 507 E. 7th Street, which also serves 511 E. 7th Street. The duplex is being offered only as part of a combined sale with 507 E. 7th Street and is not available separately.
Key Highlights
- Two‑unit duplex with 640 square feet of property size
- Each unit includes 1 bedroom, 1 full bathroom, kitchen, and combined living area
- Built in 1900 with a metal roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,317
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$106,340
$106.3K
Cap Rate 7%
$75,957
$76.0K
Cap Rate 9%
$59,078
$59.1K
Market Conditions
NOI Build-Up for 640 SF
Gross rent
$8.0K $12.48/SF
− Vacancy
−$391 −$0.61/SF
EGI
$7.6K $11.87/SF
− OpEx
−$2.3K −$3.56/SF
NOI
$5.3K $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%
$106,340
Cap Rate 7%
$75,957
Cap Rate 9%
$59,078
Alternative Uses
Best Use
Multifamily LT 5
$76.0K
$66.5K – $88.6K
NOI $5,317 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$68.9K
$60.3K – $80.4K
NOI $4,823 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$133.3K
$116.7K – $155.6K
NOI $9,334 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
699
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Compact duplex with two independent one-bedroom residences and shared rear parking access.
Where is this duplex located?
The property is located at 511 E 7th Street Lexington, KY.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Two‑unit duplex with 640 square feet of property size; Each unit includes 1 bedroom, 1 full bathroom, kitchen, and combined living area; Built in 1900 with a metal roof
