Updated Ranch
For Sale
$599,000
607 Camino Drive, Lexington, KY 40502
MULTI_FAMILY - Ranch - Lexington, KY
Property Size2,562 SF
Lot Size0.16 Acres
Price / SF$233.80
Days on Market8
Property Features for 607 Camino Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 3, Bathroom 1, Laundry Room, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 1, Den, Utility Room, Dining Room
Parking features
Garage, Driveway, Off Street, Underground/Basement
Window features
Window Treatments, Blinds, Insulated Windows
Interior features
Eat-in Kitchen, Ceiling Fan(s)
Fencing
Privacy
Fireplace
1
Basement
Finished, Full
Appliances
Dishwasher, Microwave, Refrigerator, Range
Subdivision
Shadeland
Lot features
Many Trees
Elementary school
Cassidy
Middle school
Morton
High school
Henry Clay
Elementary school district
Fayette County - 1
Middle school district
Fayette County - 1
High school district
Fayette County - 1
Directions
From Downtown, Take Tates Creek Road, Left on Alumni Drive, First Left is Camino Drive, Home is on the left, left unit.
Standard status
Active
APN
10028510
Size
2,562 SF
Lot size
0.16 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Floors in Building
2
Flooring type
Vinyl
Building materials
Brick Veneer
Architectural style
Ranch
Listing Agency:
The Brokerage
(859) 983-7365
Listed By:
Raya Rivera
(267) 515-9946
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 6 at 6:06PM
MLS# 26020472
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.
Investment Insights
Based on property information with market context.
This updated ranch duplex unit is the left side of 607 Camino Drive, offering three bedrooms and three bathrooms across two levels. The main level is set up for everyday living and entertaining, with an eat-in kitchen and living space that opens to a covered, screened-in patio overlooking a private, fenced backyard.
The lower level adds flexibility with a second living area, a full bathroom, an additional bedroom, a dedicated laundry room, and a utility room. A fireplace is included, and the home is equipped with natural gas heating and central air. Appliances listed include a dishwasher, microwave, refrigerator, and range.
Constructed with brick veneer and built in 1986, the property includes a 611 sq ft two-car tandem garage, plus parking options such as driveway and off-street parking. Public water and public sewer service are provided. The unit is positioned in a connected Lexington pocket, with access to major destinations including Kroger Field, the University of Kentucky, UK Hospital, and the Arboretum, along with connectivity toward downtown and the Legacy Trail.
The lower level adds flexibility with a second living area, a full bathroom, an additional bedroom, a dedicated laundry room, and a utility room. A fireplace is included, and the home is equipped with natural gas heating and central air. Appliances listed include a dishwasher, microwave, refrigerator, and range.
Constructed with brick veneer and built in 1986, the property includes a 611 sq ft two-car tandem garage, plus parking options such as driveway and off-street parking. Public water and public sewer service are provided. The unit is positioned in a connected Lexington pocket, with access to major destinations including Kroger Field, the University of Kentucky, UK Hospital, and the Arboretum, along with connectivity toward downtown and the Legacy Trail.
Key Highlights
- Left side of a ranch duplex at 607 Camino Drive
- Three bedrooms and three bathrooms across two levels
- Fully updated in 2021
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
$21,285
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
3.55%
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%
$425,700
$425.7K
Cap Rate 7%
$304,071
$304.1K
Cap Rate 9%
$236,500
$236.5K
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
$32.0K $12.48/SF
− Vacancy
−$1.6K −$0.61/SF
EGI
$30.4K $11.87/SF
− OpEx
−$9.1K −$3.56/SF
NOI
$21.3K $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%
$425,700
Cap Rate 7%
$304,071
Cap Rate 9%
$236,500
Alternative Uses
Best Use
Multifamily LT 5
$304.1K
$266.1K – $354.8K
NOI $21,285 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$275.8K
$241.4K – $321.8K
NOI $19,309 @ 7.0% cap · market cap 3.22%
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
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
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 - Three-bedroom, three-bath duplex with covered screened patio, fenced yard, and a 611 sq ft tandem garage.
Where is this duplex located?
The property is located at 607 Camino Drive 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 ranch duplex at 607 Camino Drive; Three bedrooms and three bathrooms across two levels; Fully updated in 2021
