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1028 Merrick Dr, Richmond, KY 40475

Merrick Place · Madison County

Key Facts

2,350Sq Ft
1999Year Built
2Stories

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 systems 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 Information

Property Type

Residential Income

Sub-Type

Duplex

Structure Type

Duplex

Year Built

1999

Stories

2

Living Area

2,350 sq ft

Lot Dimensions

0.22

Zoning

R

Days on Market

63

MLS® Listing#

3159279

Property Features

Cooling

Central AirElectric

Heating

CentralElectric

Flooring

CarpetWoodTile

Laundry

Electric Dryer HookupWasher Hookup

Construction

Aluminum SidingBrick

Roof

Shingle

Utilities

Electricity AvailableWater Available

Sewer

Public Sewer

Water Source

Public

Schools

Elementary:
Daniel Boone Elementary School
Middle:
Clark Moores Middle School
High:
Madison Central High School

Financial Details

HOA

None

Annual Taxes

$1,651

Directions

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Affordability Calculator

$67,000

Estimated monthly payment

$1,783/mo

Principal $268,000 · Est. interest $373,884 over 30 yrs

Neighborhood Market Statistics

How this home compares to active listings in Richmond, KY

$355,882
Median Listing Price
35
Median Days on Market
1,928
Median Sq Ft
$189
Median Price / Sq Ft
240
Active Listings
  • This home’s price is 6% below the area median.
  • Its price per sq ft is 25% below the area median.

Market statistics compiled from active EXIT Realty® and MLS listings in Richmond, KY.

Location

Map showing the location of 1028 Merrick Dr, Richmond, KY 40475

Points of Interest in Richmond, KY

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Nearby Schools

  • Lafontaine Preparatory School

    School · 0.6 mi away

  • Madison County Area Technology Center

    Secondary · 0.8 mi away

  • Madison Central High School

    Secondary · 0.8 mi away

  • Daniel Boone Elementary School

    Elementary · 0.9 mi away

  • Madison County Schools

    School · 1.1 mi away

  • Mayfield Elementary School

    Elementary · 1.1 mi away

  • Madison Middle School

    Secondary · 1.1 mi away

  • The Growing Place

    School · 1.2 mi away

  • First Presbyterian Preschool

    School · 1.2 mi away

  • Richmond Head Start

    School · 1.3 mi away

  • Madison Alternative School

    Secondary · 1.3 mi away

  • Bellevue School

    Secondary · 1.3 mi away

  • St Mark Catholic School

    Elementary · 1.4 mi away

  • B. Michael Caudill Middle School

    Secondary · 1.7 mi away

  • Clark Moores Middle School

    Secondary · 1.7 mi away

  • Glenn R Marshall Elementary School

    Elementary · 1.7 mi away

  • Kit Carson Elementary School

    Elementary · 2.0 mi away

  • Model Laboratory School

    School · 2.3 mi away

  • Richmond Montessori School

    Elementary · 2.3 mi away

  • Angel Academy

    School · 2.7 mi away

Commute Calculator

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Nearby Homes

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Similar Home Values

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Moving Cost Estimate

EXIT Agents in Richmond

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Listing Courtesy: GRATEFUL ACRES REALTY - 9315516127

Based on information submitted to the MLS GRID as of 2026-03-23 . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Last Updated: 2026-03-23

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The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of one or more Multiple Listing Services (MLS). Listing information is deemed reliable but is not guaranteed accurate. Copyright © EXIT Realty® and respective MLS providers.

Data provided by Realtracs. MLS® Listing#3159279. © 2026EXIT Realty®. All rights reserved.