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Backup Offers

406 E Sixth St, Lexington, KY, 40508

$240,000

Home List Price

$2,850*

Closing Credit

0 Baths
1,822 SqFt
$132/SqFt
Multi

Location

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406 E Sixth St, Lexington$240,000

Buyer Closing Credits

$2,850*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Parking1 - 5 Spaces
Year Built1959
HeatingElectric, Forced Air, Natural Gas
MLS #24002522
Lot Size0.11 Acres
StatusAccepting Backup Offers
(Contingent)

About 406 E Sixth St

Explore a prime investment opportunity in the heart of downtown Lexington - an income - producing Tri-Plex with a long-term rental history and lucrative returns. Strategically located, this property features three upgraded units, offering residents comfort while ensuring a steady stream of income. With its prime location and strong rental market, this Income Producing Tri-Plex is an attractive addition to your real estate portfolio. Three units total and each unit has 1 bedroom and 1 bathroom. Buyer to Verify Sqft. One unit has 6 months left on lease, one other unit has 7 months left on lease and upstairs unit is vacant. New roof 2024.

Property Details

Property Features

Property Information:

  • Year Built: 1959
  • Stories: 2
  • Living Area: 1,822 SqFt

Listing Office:

  • Office Name: Nexian Realty
  • Office Phone: (859) 605-3517

Exterior Features

Parking Information:

  • Parking: 1 - 5 Spaces

Lot Features

Lot Information:

  • Lot Size: 0.11 Acres

Utilities

Utilities Information:

  • Heating: Electric, Forced Air, Natural Gas

School Info

Assigned Schools Information:

  • Lafayette High School, Public Magnet Grades 9-12
  • Lexington Trad Magnet School, Public Magnet Grades 6-8
  • William Wells Brown Elementary School, Public District Grades PK-5

Other

Directions Information:

  • Directions: Corner of E Sixth and Chestnut

Price Information

Listing Price Info

Price Summary:

  • List Price: $240,000
  • Price Per SqFt: $132/SqFt

Tax Information:

  • Annual Amount: $837
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Lexington, KY.

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Lexington, KY

City

Med. Sold Price

$322.8K

Med. Price/SqFt

$151

Avg. Days On Market

27

# of Sold Homes

249

406 E Sixth St vs Lexington

259 DAYS ON ROCKET

+232 Days

$240,000

-$82.8K Less

$132/SqFt

-$19 Less

KEY TAKEAWAY

This property is $82.8K less than the Median Sold Price and $19/SqFt less than other homes in Lexington, KY.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #24002522

Listing Office:

  • Office Name: Nexian Realty
  • Office Phone: (859) 605-3517

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Lexington-Bluegrass Association of Realtors Multiple Listing Service. Real estate listings held by IDX Brokerage firms other than this broker, are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2024 LBAR Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 10/31/2024, 8:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Oct 04, 2018Home Sold
$65,500
Dec 18, 2009Home Sold
$49,800

Tax History

YEARPROP. TAXASSESSMENT
2020$837$65,500
2019$837$65,500
2018$926$72,500

History based on county public records data.

Payment Calculator

$1,265

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$786

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-834259
1
/10

  • William Wells Brown Elementary School

  • 555 E Fifth St

  • 0.22 miles

  • Public District Grades PK-5

Middle School

school-card-donut-834260
2
/10

  • Lexington Trad Magnet School

  • 350 N Limestone

  • 0.51 miles

  • Public Magnet Grades 6-8

High School

school-card-donut-834261
8
/10

  • Lafayette High School

  • 401 Reed Ln

  • 2.87 miles

  • Public Magnet Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $28,559. Most Lexington, KY residents have annual incomes less than $35k. Typical family type is single, no kids. Most residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Kentucky›Fayette County›Lexington›40508›406 E Sixth St

This home is located at 406 E Sixth St in Lexington, KY and zip code 40508 in the District 1 neighborhood. This 1,822 square foot home, which was built in 1959, sits on a 0.11 acre lot. It has been listed on Rocket Homes since February 15, 2024 and is currently priced at $240,000.

While more than 45 listings in Lexington, KY in September 2024 were sold above asking price, there were more than 64 listings sold at asking price, and more than 140 were sold below. The inventory of homes for sale in Lexington, KY between August 2024 and September 2024 decreased by 0.8%. The median list price of listings available in September 2024 was $322,809, while the average time on the real estate market was 27 days.

From Rocket Homes Real Estate and based on county public records data.

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