Two-Unit Duplex with Shared
New
For Sale
$110,000
511 E 7th St, Lexington, KY 40505
Compact multifamily property with separate kitchens, full baths, and efficient living areas in each residence.
Property Size640 SF
Price / SF$171.88
Days on Market4
Property Features for 511 E 7th St
General Information
Standard status
Active
Size
640 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Bluegrass Sotheby's International Realty
(859) 699-2655
Listed By:
Elizabeth L Herrington · License #245796
Source:
Centralkyhomefinder
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 1 at 10:07PM
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 Bluegrass Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located at 511 E 7th St, this 640-square-foot duplex contains two independent residences within one structure. Each unit includes one bedroom, one full bathroom, a kitchen, and a combined living area. Tile flooring extends throughout the property, and the building has a metal roof. Constructed in 1900, the layout provides two distinct living spaces in a compact multifamily format.
Parking is shared with 507 E 7th Street, with driveway and rear parking access serving both properties. The duplex is being offered only as part of a combined sale with 507 E 7th St and is not available separately.
Parking is shared with 507 E 7th Street, with driveway and rear parking access serving both properties. The duplex is being offered only as part of a combined sale with 507 E 7th St and is not available separately.
Key Highlights
- Two‑unit duplex with 640 square feet of total building area
- Each unit includes 1 bedroom, 1 full bath, kitchen, and combined living area
- Tile flooring throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$5,317
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Compact multifamily property with separate kitchens, full baths, and efficient living areas in each residence.
Where is this duplex located?
The property is located at 511 E 7th St 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 total building area; Each unit includes 1 bedroom, 1 full bath, kitchen, and combined living area; Tile flooring throughout the property
