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Chevy Chase

Lexington, KY

Neighborhood Market Analysis

Q3 2025 Report
$640,000
Median Home Price
74 (Very walkable for Lexington)
Walkability Score
Highly rated public schools; Cassidy Elementary and Henry Clay are among the top in Fayette County.
School Rating

Location Overview

Neighborhood Boundaries

Generally bounded by Cooper Drive to the south, Tates Creek Road to the west, Fontaine Road to the north, and Chinoe Road to the east. The core is centered around Euclid Avenue and High Street.

Zip Codes

40502

Market Data Summary

Price Range$450,000–$750,000 for typical homes; $900,000–$1.2M for larger homes (3,500+ sq ft)
Price per Sq Ft$270–$340 (estimate based on recent sales and home sizes)
Inventory LevelsLow; most homes receive multiple offers, especially those under $800,000.

Property Characteristics

Home Types & Architecture

Home Types

Single-family detachedCottagesRamblersHistoric homes

Architectural Styles

Cape CodRanch-styleColonial RevivalStone facadesHomes with dormer windows and exposed timber

Property Details

Typical Lot Sizes0.15–0.35 acres
Home Age RangeBuilt 1920s–1960s, with some newer infill
Construction QualityHigh; many homes have been updated while retaining historic character

Community Profile

Demographics & Lifestyle

Demographics

Predominantly professional families, established residents, and retirees. Median age is higher than city average. High educational attainment.

Community Vibe

Historic, high-end, peaceful, and neighborly. Residents often socialize on front porches and at local businesses.

Typical Residents

  • Professional families
  • Retirees
  • Young professionals seeking historic charm

Family Friendly

Very; quiet streets, mature trees, walkable to parks and schools.

Amenities & Lifestyle

Parks & Recreation

  • • Ashland Park
  • • Chevy Chase Park
  • • Proximity to UK Arboretum

Dining Options

  • • Wheeler's Pharmacy Soda Fountain
  • • Josie's
  • • Bear & The Butcher
  • • Local coffee shops

Shopping Centers

  • • Chevy Chase Plaza
  • • Euclid Avenue retail corridor

Local Businesses

  • • Chevy Chase Hardware
  • • John's Run/Walk Shop
  • • Local boutiques

Education & Schools

Highly rated public schools; Cassidy Elementary and Henry Clay are among the top in Fayette County.
Overall School Rating

Elementary Schools

  • • Cassidy Elementary

Middle Schools

  • • Morton Middle School

High Schools

  • • Henry Clay High School

Private Schools

  • • Sayre School (nearby)
  • • Lexington Catholic (short drive)

Transportation & Accessibility

Transit & Roads

Public Transit

  • • Lextran bus routes 2, 11, and 12

Major Roads

  • • Euclid Avenue
  • • Tates Creek Road
  • • Chinoe Road
  • • Cooper Drive

Commute & Walkability

Commute Times10–15 minutes to Downtown Lexington; 5–10 minutes to University of Kentucky campus.
WalkabilityHigh for Lexington; errands and dining can be accomplished on foot.
ParkingMostly off-street and driveway parking; some congestion near retail/dining during peak hours.

Marketing Intelligence

Target Buyer Types

  • Professional families
  • Medical/UK faculty
  • Retirees
  • Young professionals valuing walkability

Key Selling Points

  • Unique early 20th-century architecture
  • Top-rated schools
  • Walkable lifestyle
  • Consistent property appreciation

Pricing Considerations

Price competitively within recent sales range; staged, move-in-ready homes command premium.

Common Objections & Response Strategies

Objection: Older homes may need updates or repairs.

Response Strategy:

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

Objection: Higher price point than other Lexington neighborhoods.

Response Strategy:

Emphasize long-term appreciation, walkability, and school quality as value drivers.

Objection: Limited inventory and fast-moving market.

Response Strategy:

Encourage pre-approval and readiness to act quickly; offer off-market opportunities if available.

Investment Insights

Investment Potential

Appreciation Potential

Strong; historic homes in 40502 consistently outperform city averages[1].

Rental Demand

Moderate; primarily owner-occupied, but some demand from UK faculty and medical professionals.

Buyer Competition

High; low inventory and historic charm drive multiple offers.

Best For

  • Upscale buyers seeking historic homes
  • Families valuing walkability and schools
  • Retirees downsizing from larger estates

Potential Concerns

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

Professional Recommendations

1

Network with local contractors for historic home expertise.

2

Stage homes to highlight unique features and outdoor spaces.

3

Educate buyers on the value of historic appreciation and walkability.

4

Monitor off-market opportunities for clients due to low inventory.

5

Leverage school ratings and community events in marketing materials.

Competitive Analysis

Comparable Markets

  • Ashland Park
  • Fairway-Liberty Heights
  • Downtown Lexington

Market Positioning

Premier historic neighborhood for discerning buyers seeking charm and convenience.

Competitive Advantages

  • Superior walkability
  • Historic architecture
  • Top schools

Price Comparison

Chevy Chase homes command a 30–50% premium over city median; similar to Ashland Park, higher than Fairway-Liberty Heights.

Investment Metrics

3.5%–4.2% (estimate, due to high home values and moderate rental rates)
Cap Rates
2.5%–3.2%
Rental Yields
High (22–25), favoring owner-occupants over investors
Price-to-Rent
Limited for traditional rentals; best for long-term appreciation or high-end short-term rentals.
Cash Flow
5%–7% annually, barring macroeconomic shocks.
Appreciation

Buyer Journey Insights

First-Time Buyers

Challenging due to price point; best fit for dual-income professionals or those with family assistance.

Move-Up Buyers

Ideal for buyers upgrading from starter homes seeking schools and walkability.

Downsizers

Attractive for retirees seeking charm and proximity to amenities.

Investors

Limited cash flow, but strong appreciation and short-term rental potential.

Relocators

Popular among UK faculty, medical professionals, and executives moving to Lexington.

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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