Ranch Duplex with Updated
For Sale
$249,900
Pending
755-757 Terrace View Dr, Lexington, KY 40504
Two-bedroom units include separate laundry rooms and kitchen dining areas.
Property Size1,582 SF
Days on Market67
Property Features for 755-757 Terrace View Dr
General Information
Standard status
Pending
Size
1,582 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry room
Building Details
Year Built
1965
Buildings
1
Construction
ranch
Listing Agency:
National Real Estate
(859) 494-6288
Listed By:
Joey Young
Source:
Centralkentuckyhomefinder
Added: Jun 26
Changed: Aug 30
Last Checked: Aug 30 at 7:28PM
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 National Real Estate
Investment Insights
Based on property information with market context.
Built in 1965, this 1,582-square-foot ranch duplex includes two matching residential layouts, each with a living room, kitchen with dining area, 2 bedrooms, 1 bath, and a laundry room. The right unit has newer cabinets, counters, vinyl flooring, and a central A/C system. The left unit retains exposed original hardwood flooring, with additional hardwood beneath the vinyl tile. Several newer windows complement the 3 yr old roof and gutters.
Located at 755-757 Terrace View Dr in Lexington, the property sits on a cul de sac and backs to a tree line. Downtown, shopping, and restaurants are a few minutes away by car. Both units are occupied by long-standing tenants who handle their own rents, utilities, and mowing.
Located at 755-757 Terrace View Dr in Lexington, the property sits on a cul de sac and backs to a tree line. Downtown, shopping, and restaurants are a few minutes away by car. Both units are occupied by long-standing tenants who handle their own rents, utilities, and mowing.
Key Highlights
- 1,582‑square‑foot duplex built in 1965
- Each unit includes 2 bedrooms, 1 bath, living room, kitchen dining area, and laundry room
- Right unit updated with newer cabinets, counters, vinyl flooring, and central A/C
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
$13,143
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
5.26%
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%
$262,860
$262.9K
Cap Rate 7%
$187,757
$187.8K
Cap Rate 9%
$146,033
$146.0K
Market Conditions
NOI Build-Up for 1,582 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
$19.7K $12.48/SF
− Vacancy
−$967 −$0.61/SF
EGI
$18.8K $11.87/SF
− OpEx
−$5.6K −$3.56/SF
NOI
$13.1K $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%
$262,860
Cap Rate 7%
$187,757
Cap Rate 9%
$146,033
Alternative Uses
Best Use
Multifamily LT 5
$187.8K
$164.3K – $219.1K
NOI $13,143 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$170.3K
$149.0K – $198.7K
NOI $11,923 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$329.6K
$288.4K – $384.5K
NOI $23,072 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 40504, KY
26,042
Population
13,175
Households
2
Avg Household Size
34
Median Age
32%
College-Educated
84%
High-School Grad
6.2 sq mi
ZIP Area
4,200
Density / Sq Mi
$43,015
Median Household Income
$29,195
Median Earnings
$888
Median Rent
$209,400
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 - Two-bedroom units include separate laundry rooms and kitchen dining areas.
Where is this duplex located?
The property is located at 755-757 Terrace View Dr Lexington, KY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,582‑square‑foot duplex built in 1965; Each unit includes 2 bedrooms, 1 bath, living room, kitchen dining area, and laundry room; Right unit updated with newer cabinets, counters, vinyl flooring, and central A/C
