1 month on rocket

312 N 3rd St, Richmond, KY, 40475

$505,000

Home List Price

$5,997*

Closing Credit

8 Bedrooms
4 Full Baths
4,626 SqFt
$109/SqFt
Multi

Location

Image provided by Mapbox

Get An Agent. Get A Mortgage.

Save BIG.

Rocket Homes logo

312 N 3rd St, Richmond$505,000

Buyer Closing Credits

$5,997*

1.25% Loan Amount

Rocket Homes logo

Still Have Questions? Contact Us.

Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeMulti Family
Parking1 - 5 Spaces, 6 - 10 Spaces
Year Built9999
HeatingElectric
CoolingElectric
MLS #24024284
Lot Size450.00 Acres
StatusActive

About 312 N 3rd St

Prime investment opportunity in the heart of Richmond! This historic property, built in 1893, features a 6-bedroom, 2-bathroom main house with endless potential. Located just minutes from downtown and EKU's campus, it's perfectly positioned for rental income. Behind the main house is a duplex with its own address at 314 Glyndon Avenue, offering two(2) 1-bedroom, 1-bathroom units.The property is non-conforming, allowing for residential or commercial use, making it ideal for creative investors. A portion of the main house was previously used as a salon, highlighting its adaptability. Recent updates to the main house include two heating and AC units replaced within the last 2-3 years and a roof that is approximately 5 years old. Consider transforming the property into college housing, a sorority or fraternity house, or maintaining it as a multi-unit rental. With its central location and income-generating potential, this property offers incredible opportunities for investors.

Property Details

Property Features

Property Information:

  • Year Built: 9999
  • Stories: 2
  • Living Area: 4,626 SqFt

Listing Office:

  • Office Name: Marshall Lane Real Estate - Lexington
  • Office Phone: (502) 682-1226

Interior Features

Bedroom and Bathroom Information:

  • Full Bathrooms: 4
  • Total Bedroom Count: 8

Exterior Features

Parking Information:

  • Parking: 1 - 5 Spaces, 6 - 10 Spaces

Lot Features

Lot Information:

  • Lot Size: 450.00 Acres

Utilities

Utilities Information:

  • Heating: Electric
  • Cooling: Electric

Other

Directions Information:

  • Directions: From W Main, turn onto N third. House is on the left.

Price Information

Listing Price Info

Price Summary:

  • List Price: $505,000
  • Price Per SqFt: $109/SqFt

Tax Information:

  • Annual Amount: $348
  • Tax Year: 2020
House and calculator

What can I afford?

Understand what home price range makes sense for your budget.

Housing Market Comparison

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

Map thumbnail provided by MapBox

Richmond, KY

City

Med. Sold Price

$305K

Med. Price/SqFt

$104

Avg. Days On Market

40

# of Sold Homes

60

312 N 3rd St vs Richmond

33 DAYS ON ROCKET

-7 Days

$505,000

+$199.9K More

$109/SqFt

+$4 More

KEY TAKEAWAY

This property is $199.9K more than the Median Sold Price and $4/SqFt more than other homes in Richmond, KY.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #24024284

Listing Office:

  • Office Name: Marshall Lane Real Estate - Lexington
  • Office Phone: (502) 682-1226

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: 12/22/2024, 2:20:59 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Dec 21, 2020Home Sold
$260,000

Tax History

YEARPROP. TAXASSESSMENT
2020$348$160,000
2019$622$160,000
2018$1,626$160,000

History based on county public records data.

Payment Calculator

$2,588

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,581

Powered By

Rocket Mortgage

Advertisement

NMLS#3030

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.

Nearby Schools

school-card-donut-852955
5
/10

  • Daniel Boone Elementary School

  • 710 N 2nd St

  • 0.54 miles

  • Public District Grades 1-5

school-card-donut-852956
6
/10

  • Kit Carson Elementary School

  • 450 Tates Creek Rd

  • 1.03 miles

  • Public District Grades 1-5

school-card-donut-852957
7
/10

  • Glenn Marshall Elementary School

  • 1442 Robert R Martin Bypass

  • 1.62 miles

  • Public District Grades 1-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $46,944. The most common annual income of people living in Richmond, KY is less than $35k. Most families are single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Living In Richmond, KY

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

What type of housing is available in Richmond, KY?

Richmond's housing market showcases a diverse array of options, with single-family homes being a significant presence. The architectural styles in the area range from classic colonial to contemporary, reflecting the city's historical roots and modern growth. The market is balanced with a mix of both homeowners and renters, providing living spaces for a variety of preferences and needs.

Is Richmond, KY a good place to live?

Richmond is celebrated for its historical significance and vibrant community spirit. The city prides itself on its rich cultural heritage, with numerous landmarks and museums that pay homage to its past. Annual events and festivals contribute to the strong sense of community, drawing residents together to celebrate and foster local traditions.

Are things conveniently located in Richmond, KY?

The community is served by a robust educational system, including multiple public schools at the elementary, middle, and high school levels, as well as private educational institutions. Healthcare services are comprehensive, with facilities offering a range of medical care. The public library system supports lifelong learning, and the city's retail and dining establishments reflect the local culture and cuisine. Initiatives are in place to adapt services to the evolving needs of Richmond's diverse population.

What does the transportation in Richmond, KY look like?

Richmond's transport infrastructure caters to a variety of mobility needs, with public transit options complementing the network of roads and highways that connect the city. The area's walkability varies, with certain neighborhoods being more pedestrian-friendly than others. Bike paths are also available for cycling enthusiasts. Enhancements to the transportation system are ongoing, aiming to improve the efficiency and accessibility for all residents.

Rocket Homes›Kentucky›Madison County›Richmond›40475›312 N 3rd St

This home is located at 312 N 3rd St in Richmond, KY and zip code 40475. This 4,626 square foot home, which was built in 9999, sits on a 450.00 acre lot. Features: 8 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since November 18, 2024 and is currently priced at $505,000.

In November 2024 more than 7 listings in Richmond, KY were sold above the asking price. During the same period more than 22 listings were sold at asking price, while more than 31 were sold below. The inventory of homes for sale in Richmond, KY between October 2024 and November 2024 increased by 1.4%. While the average time on the market in November 2024 was 40 days, the median list price was $305,072.

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

More Resources