Ashland Park

Lexington, KY

Neighborhood Market Analysis

Q3 2025 Report
$425,000 (Dec 2024); $1.2M (May 2025, outlier)
Median Home Price
Very Walkable (Walk Score®: 70-80)
Walkability Score
Highly rated public and private options; competitive for families seeking top schools.
School Rating

Location Overview

Neighborhood Boundaries

Generally bounded by East Main Street to the north, Fontaine Road to the south, Richmond Road to the east, and Ashland Avenue to the west. Adjacent to Chevy Chase and close to downtown Lexington.

Zip Codes

40502

Market Data Summary

Price Range$425,000 to $1,200,000+ (recent sales)
Price per Sq Ft$278 (recent sale)
Inventory LevelsVery low; only 2-5 homes for sale monthly in early 2025, down 57% from previous months.

Property Characteristics

Home Types & Architecture

Home Types

Single-family homesHistoric estatesOccasional condos/townhomes

Architectural Styles

Colonial RevivalTudor RevivalCraftsmanBungalowTraditional early 20th-century styles

Property Details

Typical Lot Sizes0.2 to 0.5 acres; larger than average for urban Lexington.
Home Age RangePrimarily 1920s-1940s; some homes over 100 years old.
Construction QualityHigh; many homes are historic with preserved architectural details and quality craftsmanship.

Community Profile

Demographics & Lifestyle

Demographics

Predominantly established professionals, academics, and affluent families; median age higher than city average.

Community Vibe

Historic, walkable, and prestigious; strong neighborhood association and community events.

Typical Residents

  • Established families
  • Retirees
  • Young professionals
  • Academics

Family Friendly

Yes; quiet streets, parks, and proximity to schools.

Amenities & Lifestyle

Parks & Recreation

  • Ashland, The Henry Clay Estate gardens
  • Woodland Park (nearby)
  • Walking/biking trails

Dining Options

  • Fine dining (Coles 735 Main, Josie's)
  • Cafés (Third Street Stuff)
  • Bistros and bakeries

Shopping Centers

  • Chevy Chase Shops
  • Short drive to downtown Lexington retail

Local Businesses

  • Boutique shops
  • Cafés
  • Local grocers
  • Bookstores

Education & Schools

Highly rated public and private options; competitive for families seeking top schools.
Overall School Rating

Elementary Schools

  • Morton Middle (zoned)
  • Cassidy Elementary (nearby)

Middle Schools

  • Morton Middle

High Schools

  • Henry Clay High School

Private Schools

  • Sayre School
  • Lexington Catholic High School

Transportation & Accessibility

Transit & Roads

Public Transit

  • Lextran bus routes along Main St and Richmond Rd

Major Roads

  • Richmond Road
  • East Main Street
  • Ashland Avenue

Commute & Walkability

Commute Times5-10 minutes to downtown Lexington; 20-25 minutes to Blue Grass Airport.
WalkabilityVery walkable; most errands can be accomplished on foot.
ParkingOn-street and driveway parking; some homes have garages, but street parking can be limited during events.

Marketing Intelligence

Target Buyer Types

  • Affluent families
  • Professionals
  • Retirees
  • Historic home lovers

Key Selling Points

  • Prestigious address
  • Walkability to shops and dining
  • Historic architecture
  • Proximity to downtown

Pricing Considerations

Price competitively given low inventory, but be mindful of recent rapid appreciation and potential buyer pushback.

Common Objections & Response Strategies

Objection: Older homes may need repairs or updates.

Response Strategy:

Provide inspection reports and highlight recent upgrades; connect buyers with local contractors experienced in historic renovations.

Objection: Higher price point than other Lexington neighborhoods.

Response Strategy:

Emphasize long-term appreciation, walkability, and unique historic value.

Objection: Limited inventory and few listings.

Response Strategy:

Highlight the exclusivity and stability of the neighborhood; offer to notify buyers of upcoming listings.

Investment Insights

Investment Potential

Appreciation Potential

Strong long-term appreciation due to historic status and limited inventory.

Rental Demand

Moderate; primarily owner-occupied, but high demand for executive rentals and furnished homes.

Buyer Competition

High for well-maintained or renovated homes; low inventory drives competition.

Best For

  • Upscale buyers
  • Historic home enthusiasts
  • Families seeking top schools
  • Investors seeking stable appreciation

Potential Concerns

  • Older homes may require updates
  • Higher price point limits entry-level buyers

Professional Recommendations

1

Network with local preservation societies and neighborhood associations.

2

Leverage professional photography and virtual tours to highlight architectural details.

3

Educate buyers on historic home ownership and available tax incentives.

4

Monitor off-market and pocket listings due to low inventory.

5

Stage homes to maximize light and showcase period features.

Competitive Analysis

Comparable Markets

  • Chevy Chase
  • Downtown Lexington
  • Woodland Park

Market Positioning

Premium, historic, walkable neighborhood with limited supply and high demand.

Competitive Advantages

  • Historic prestige
  • Walkability
  • Larger lots and mature landscaping

Price Comparison

Higher than Lexington average ($425K+ vs. city median ~$375K); similar to Chevy Chase but with more historic inventory.

Investment Metrics

3-4% for executive rentals (low due to high prices)
Cap Rates
3-4% annually
Rental Yields
High (indicative of owner-occupancy preference)
Price-to-Rent
Limited for traditional rentals; better for furnished/executive rentals
Cash Flow
Above city average due to scarcity and historic value
Appreciation

Buyer Journey Insights

First-Time Buyers

Challenging due to price point; best suited for buyers with significant down payment or family support.

Move-Up Buyers

Ideal for those seeking more space, prestige, and walkability.

Downsizers

Attractive for retirees seeking low-maintenance, walkable lifestyle in a vibrant community.

Investors

Best for long-term appreciation or executive rental strategies; not ideal for high cash flow.

Relocators

Highly desirable for professionals and academics moving to Lexington, especially those valuing historic charm and proximity to downtown.

This neighborhood analysis was generated using hyperlocal data and AI intelligence.

Neighborhood conditions change - consult with local real estate professionals for the most current information.

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