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1028 Merrick Dr

Richmond, KY 40475

$335,000 $1,412/Mo

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Description

This duplex property in Richmond, KY offers a strong opportunity for investors or owner-occupants looking for income-producing property with separate living spaces and utilities. The property features two units: Side 1 offers approximately 1,250 sq ft and is leased month-to-month, while Side 2 offers approximately 1,100 sq ft and is currently leased on a year-long lease, providing flexibility for future occupancy or rental adjustments. Side 1 has been remodeled, while Side 2 offers the opportunity for updates and added value. Each unit is separately metered for electric and water, with tenants responsible for all utilities including electric, water, and trash, helping reduce owner expenses. The property is serviced by city water and sewer and operates as all-electric with no gas. HVAC sy stems for both units were replaced in September 2018. Exterior features include bay windows on both sides, stonework detailing with keystones above the windows, and a laser-engraved address in stone, adding to the property's curb appeal. A rear storage building provides space for lawn equipment such as a mower, blower, and weed eater. Both units also include pull-down attic stair access for additional storage. There is no HOA. Located in Richmond, the property is close to Eastern Kentucky University, local shopping, dining, and healthcare facilities. Outdoor recreation can be found nearby at Lake Reba Park and Paradise Cove Aquatic Center. Neighboring cities such as Lexington, Berea, and Nicholasville provide additional employment, entertainment, and dining options, making this a convenient and desirable rental location. This duplex offers a combination of current rental income, future upside potential, and a convenient location in a growing area.

Property Details

Property Type : Residential Income

Price : $335,000

AD Id : 76497062

MLS Id : RTC3159279

Living Area Size : 2,350

Year Built : 1999

County : Madison County

Subdivision: Forest Grove Bus Center

Map

What's Nearby

Nearby Areas

Features

Interior Features

Roof: Shingle Laundry Features: Individual, Electric Dryer Hookup, Washer Hookup

Roofing Information

Shingle
Flooring Information

Flooring: Carpet, Wood, Tile Construction Materials: Aluminum Siding, Brick
Heating & Cooling

Heating: Central, Electric Has Heating: Yes Cooling: Central Air, Electric Has Cooling: Yes WaterSource: Public

Building Information

Year Built: 1999

Lot Information

Lot Dimensions: 0.22

Property Information

Property Type: Residential Income Structure Type: Duplex

Listing Price Information

Original List Price:$319900

Tax Information

Annual Tax: $1651

School Information

Elementary School: Daniel Boone Elementary School Junior High School: Clark Moores Middle School Senior High School: Madison Central High School
Utility Information

Electricity Available, Water Available Sewer: Public Sewer Water Source: Public
Location Information

Subdivision: Merrick Place City: Richmond Direction: GPS the address and it will take you directly to the property.

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
349 Mohegan Trail, Richmond, KY, 40475	$309,990	5	3	2,180	2,180 SqFt
347 Mohegan Trail, Richmond, KY, 40475	$275,990	3	2	1,416	1,416 SqFt
345 Mohegan Trail, Richmond, KY, 40475	$289,990	4	2	1,684	1,684 SqFt
815 Mohawk Dr, Richmond, KY, 40475	$292,990	4	2	1,684	1,684 SqFt
904 Seminole Trail, Richmond, KY, 40475	$307,990	5	3	2,180	2,180 SqFt
320 Mohegan Trail, Richmond, KY, 40475	$279,990	3	2	1,416	1,416 SqFt
907 Seminole Trail, Richmond, KY, 40475	$288,990	4	2	1,684	1,684 SqFt
813 Mohawk Dr, Richmond, KY, 40475	$282,990	3	2	1,416	1,416 SqFt
294 Inverness Trail, Richmond, KY, 40475	$599,000	5	4	2,869	2,869 SqFt

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ByOwner last updated this listing 07/11/2026 @ 18:20

MLS: REALTRAC #3159279 LISTED BY: MaKenzie Griffis, GRATEFUL ACRES REALTY 931-367-1584 SOURCE: REALTRAC (RT RealTracs) (Listings courtesy of REALTRAC (RT RealTracs) as distributed by MLS GRID)