Updated Duplex
For Sale
$599,000
607 Camino Dr, Lexington, KY 40502
Three-bedroom home with a screened patio, fenced yard, and tandem garage near University of Kentucky amenities.
Property Size2,562 SF
Price / SF$233.80
Days on Market34
Property Features for 607 Camino Dr
General Information
Standard status
Active
Size
2,562 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/3BA
Multifamily Units
1
Amenities
covered screened-in patio
private fenced backyard
dedicated laundry room
Building Details
Year Built
1986
Year Renovated
2021
Stories
2
Listing Agency:
The Brokerage
(267) 515-9946
Listed By:
Raya Rivera
Source:
Centralkentuckyhouses
Added: Jul 31
Changed: Aug 31
Last Checked: Sep 1 at 7:52PM
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 The Brokerage
Investment Insights
Based on property information with market context.
This left-side duplex residence was updated in 2021 and includes three bedrooms and three full bathrooms arranged across two levels. The main floor supports daily living and entertaining, while the lower level adds a second living area, another bedroom, a full bathroom, and a dedicated laundry room. A covered screened patio opens to a private fenced backyard, and the property includes a 611 sq ft two-car tandem garage.
The home is located in Lexington within less than five minutes of Kroger Field, the University of Kentucky, UK Hospital, the Arboretum, and Chevy Chase. Kenwick and Downtown are accessible by bicycle, with connections to the Legacy Trail and routes toward the Distillery District and Kentucky Horse Park.
The home is located in Lexington within less than five minutes of Kroger Field, the University of Kentucky, UK Hospital, the Arboretum, and Chevy Chase. Kenwick and Downtown are accessible by bicycle, with connections to the Legacy Trail and routes toward the Distillery District and Kentucky Horse Park.
Key Highlights
- Left side of a duplex updated in 2021
- Three bedrooms and three full bathrooms across two levels
- Covered screened patio with private fenced backyard
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
$19,309
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
3.22%
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%
$386,180
$386.2K
Cap Rate 7%
$275,843
$275.8K
Cap Rate 9%
$214,544
$214.5K
Market Conditions
NOI Build-Up for 2,562 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
$37.5K $14.64/SF
− Vacancy
−$2.4K −$0.94/SF
EGI
$35.1K $13.70/SF
− OpEx
−$15.8K −$6.17/SF
NOI
$19.3K $7.54/SF
Area
Lexington, KY
Vacancy
6.40%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
45.00%
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%
$386,180
Cap Rate 7%
$275,843
Cap Rate 9%
$214,544
Alternative Uses
Best Use
Apartment 5plus
$275.8K
$241.4K – $321.8K
NOI $19,309 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$533.8K
$467.1K – $622.8K
NOI $37,365 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Explore this area
Business Placement
Demographics for 40502, KY
26,080
Population
14,232
Households
1.8
Avg Household Size
40
Median Age
67%
College-Educated
96%
High-School Grad
7.1 sq mi
ZIP Area
3,673
Density / Sq Mi
$73,939
Median Household Income
$46,197
Median Earnings
$1,068
Median Rent
$483,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom home with a screened patio, fenced yard, and tandem garage near University of Kentucky amenities.
Where is this residential income property located?
The property is located at 607 Camino Dr Lexington, KY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Left side of a duplex updated in 2021; Three bedrooms and three full bathrooms across two levels; Covered screened patio with private fenced backyard
