Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Berea Duplex: Turn-Key Investment Title is generated by Realmo AI

    705 Candlewood Drive, Berea, KY 40403

    View on Map
    Claim this Listing
    Pending
    $253,000

    MULTI_FAMILY - Berea, KY

    Property size:
    2,160 SF
    Lot size:
    0.28 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    64
    Last Refresh:
    May 14 at 9:06 pm

    Property Features for 705 Candlewood Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
    Standard status
    Pending
    APN
    0060-0030-0150
    Size
    2,160 SF
    Lot size
    0.28 Acres

    Utilities

    Heating system
    Heat Pump (Heating), Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2003

    We can help!

    Listing Contact
    N Seth Parker

    Listing agent N Seth Parker

    Listing office Lifstyl Real Estate 114 Pasadena Drive, Lexington, KY

    Listing date Mar 12, 2026

    MLS# 26004823 Listing URL

    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.

    HighLights

    • Turn‑key duplex ideal for investors, offering immediate rental income potential.
    • New 2023 roof with a transferable 10‑year warranty.
    • Two spacious 2‑bedroom, 1.5‑bath townhome‑style units.
    • Recent updates include flooring, carpet, appliances, vanities, and toilets.
    • Video security system installed.
    • Multiple mechanical upgrades in both units.

    Overview

    This turn-key duplex in Berea, Kentucky, presents an investment opportunity with two spacious townhome-style units, each featuring 2 bedrooms and 1.5 bathrooms. The property has undergone recent improvements, including a 2023 roof with a transferable 10-year warranty, a video security system, updated flooring and carpet, newer appliances, vanities, and toilets, along with multiple mechanical upgrades in both units. The property, situated on a 0.28-acre lot, has a total size of 2160 square feet. The property is being sold as-is, with inspections welcome.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Dental Office Hair Salon Gym & Fitness Center Pharmacy Accounting Firm Hotel & Motel Cafe & Coffee Shop Grocery & Convenience Store Electrical Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Berea
    County
    Madison
    State
    Kentucky
    Longitude
    -84.321032
    Latitude
    37.605921

    Nearby Similar for Sale

    • $649,900
      1,560 SF

      Berea Commercial Property For Sale

      Versatile commercial property with income potential in Berea, Kentucky.
      1031 Highway 1016, Berea, KY 40403
      View Details
    • $395,000
      7,660 SF

      Berea Commercial Warehouse and Office

      7,660 SF warehouse and office space in Berea, KY.
      207 N Broadway Street, Berea, KY 40403
      View Details
    • $590,000
      4,512 SF

      Berea Fourplex with Recent Updates

      Well-maintained fourplex in Berea with recent capital improvements.
      907 Weeping Willow Drive, Berea, KY 40403
      View Details
    • $590,000
      4,660 SF

      Berea Fourplex with Recent Upgrades

      Investor-friendly fourplex in Berea with consistent interior upgrades.
      913 Weeping Willow Drive, Berea, KY 40403
      View Details
    • $299,999
      2,880 SF

      Berea Multifamily Investment Opportunity

      Three-bedroom investment property near I-75 in Berea, Kentucky.
      821 Ridgewood Drive, Berea, KY 40403
      View Details
    • $325,000
      3,200 SF

      Berea Commercial Investment Opportunity

      Multi-unit commercial building in high-traffic area, suitable for various businesses.
      404 KY-1016, Berea, KY 40403
      View Details
    • $329,000
      3,416 SF

      Updated Quadruplex with Strong Occupancy

      Turnkey investment property with updated units and income potential.
      118 Salter Road, Berea, KY 40403
      View Details
    • $329,000
      3,294 SF

      Berea Quadplex Investment Opportunity

      Well-maintained quadplex with income potential in Berea, Kentucky.
      116 Salter Road, Berea, KY 40403
      View Details
    • $199,900
      1,720 SF

      Berea Home with Rental Potential

      Well-maintained home with a second residence for rental income.
      110 Baugh Street, Berea, KY 40403
      View Details
    • $289,900
      2,248 SF

      Turnkey Duplex in Berea, KY

      Fully occupied duplex generating immediate cash flow near Berea College.
      118 Central Avenue, Berea, KY 40403
      View Details
    • $1,279,000
      2,521 SF

      Berea Restaurant with Drive-Thru

      Restaurant with drive-thru, leased to regional chain, near I-75.
      638 Chestnut St, Berea, KY 40403
      View Details
    • $950,000
      11,923 SF

      Prime Retail Space in Berea

      Retail shell space in high-traffic Berea location, ready for customization.
      310 Richmond Road, Berea, KY 40403
      View Details

    FAQs

    What type of property is this?
    Duplex - Turn-key Berea duplex, ideal for investors, with recent improvements.
    Where is this duplex located?
    The property is located at 705 Candlewood Drive Berea, KY.
    What is the asking price?
    The asking price for this property is $253,000.
    What are key features of this property?
    This property features: Turn‑key duplex ideal for investors, offering immediate rental income potential.; New 2023 roof with a transferable 10‑year warranty.; Two spacious 2‑bedroom, 1.5‑bath townhome‑style units.
    (859) 948-3094
    We can help!
    Listing Contact
    N Seth Parker
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    705 Candlewood Drive, Berea, KY 40403
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!