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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Residential income homes
157 Constitution St 159 Lexington, KY 40507-2112
Individually Owned
Absentee Owner
Free & Clear
Property ID
US34-0420543
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1910
Total area
1,800 SF
Lot
0.06 ac (2,823 SF)
Zoning code
B-2A
APN
13306625
UPID
US34-0420543
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$517k
Blend (final)
Blend
$515k
Owner & transaction history
THOMAS JETER
THOMAS JETER
Zoning & alternative use
B-2A · Lexington, KY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
(c) In the Downtown Business Frame (B-2A) zone, where at least fifty (50%) percent of dwelling units of a lot are being provided at an affordable level, developments shall be granted an affordable housing bonus in use, setbacks, height, FAR, lot coverage, and all other regulations per the Downtown Business (B-2) zone. Affordable level shall mean eighty (80%)…
Zone name
Downtown Frame Business
General category
COMMERCIAL
Zone area
106.94 ac
Top alternative use upside
Auto repair, garage
$660,000
+65.5%
Commercial (general)
$400,000
+0.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$395,000
Current use
AUTO REPAIR, GARAGE
$660,000
Change: +66% · Conversion: Difficult
COMMERCIAL (GENERAL)
$400,000
Change: +0% · Conversion: Moderate
OFFICE BUILDING
$375,000
Change: -6% · Conversion: Moderate
MEDICAL BUILDING
$370,000
Change: -7% · Conversion: Moderate
RETAIL STORES
$350,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$286 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,337
Tax year 2023
Assessed value
$189,000
Assessed 2023
Previous assessed
$189,000
+0.0% YoY
Effective rate
1.24%
On assessed value
Total market value
$189,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1910
Heating
NONE
Cooling
WINDOW A/C
Stories
2
Units
3
Total area
1,800 SF
Lot
0.06 ac (2,823 SF)
Zoning code
B-2A
APN
13306625
UPID
US34-0420543
Jurisdiction
FAYETTE
Zoning & alternative use
B-2A · Lexington, KYZoning B-2A · permitted uses
B-2A · Lexington, KY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
(c) In the Downtown Business Frame (B-2A) zone, where at least fifty (50%) percent of dwelling units of a lot are being provided at an affordable level, developments shall be granted an affordable housing bonus in use, setbacks, height, FAR, lot coverage, and all other regulations per the Downtown Business (B-2) zone. Affordable level shall mean eighty (80%) or less of the Lexington-Fayette Urban County area median income (AMI) at the time of rental or purchase, for a period of no less than ten (10) years, and where housing expenses, including utilities, shall constitute no more than forty (40%) of monthly household income. (d) Workforce housing units that meet the following requirements shall be granted a workforce housing bonus in use, setbacks, height, FAR, lot coverage, and all other regulations: (1) Workforce housing dwelling units shall be provided at one hundred twenty (120%) percent or less of the Lexington-Fayette Urban County area median income (AMI), at the time of rental or purchase. (2) The project shall be restricted for a period of no less than fifteen (15) years. (3) Projects shall be regulated under the provisions as noted below:
Zone name
Downtown Frame Business
General category
COMMERCIAL
Zone area
106.94 ac
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$395,000
AUTO REPAIR, GARAGE
Est. value
$660,000
COMMERCIAL (GENERAL)
Est. value
$400,000
OFFICE BUILDING
Est. value
$375,000
MEDICAL BUILDING
Est. value
$370,000
RETAIL STORES
Est. value
$350,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1910
Heating
NONE
Cooling
Yes
Stories
2
Units
3
Lot
0.06 ac
Current owner
From public records · entity-resolved
THOMAS JETER
Individual
Free & Clear · 0 yrs held
Mailing address
171 KENTUCKY AVE, LEXINGTON, KY 40502-1754
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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