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204 S Hanover Ave, Lexington, KY, 40502

3beds
4baths
3,491sqft
$759,000
$217price/sqft
$5,049/moest. monthly cost
$201,960/yrincome needed

About This Home

A once-in-a-lifetime opportunity to renovate a timeless architecturally unique home in the heart of Ashland Park, one of Lexington's most sought-after neighborhoods. Situated on South Hanover Avenue, one of Lexington's most desirable addresses, this classic 1923 brick two-story home with partially finished basement has been prepared for its next chapter. The owner has removed all kitchen and bathroom cabinetry and fixtures, removed all attic insulation, and completed other partial internal demolition. The property now essentially provides a blank canvas for a complete renovation as you envision. The property was previously configured with a living room, dining room, kitchen, separate breakfast area, sunroom and half bath on the first floor; three bedrooms, two full baths and laundry room on the second floor; and with two windowed bedrooms and full bath in the partially finished basement. The internal layout on all floors is capable of being reconfigured to create newly sized living areas. Exterior renovations including a rear addition and new garage are also possible, subject to Board of Architectural Review approval due to the property being in a historic district. The property is being sold AS-IS, and the seller makes no representations or warranties regarding the property or its condition. The home was occupied by the same family for several decades, with the seller acquiring the property in the fall of 2025. This property offers a rare, if not once in a lifetime, opportunity to create your dream home by renovating this historic Lexington treasure in an exceptional location. Possession and closing date are negotiable. Kitchen and bathrooms are added to room count but have been gutted for potential remodel.

Getting Around

81
WalkingVery Walkable
0
TransitVery Limited Transit
81
BikeVery Bikeable

Schools

9/10
7/10
Morton Middle SchoolGrades 6-80.7 mi
7/10
Henry Clay High SchoolGrades 9-121.4 mi

Construction

Condition

  • Year built: 1923

Materials

  • Foundation: Concrete Perimeter
  • Roof: Other,Tile
  • Construction materials: Brick Veneer

Type & Style

  • Home type: SingleFamily
  • Architectural style: Colonial
  • Property subType: Single Family Residence

Interior

Basement

  • Has basement: Yes
  • Basement: Partially Finished

Bathroom1

  • Level: Lower

Bathroom2

  • Level: First

Bathroom3

  • Level: Second

Bathroom4

  • Level: Second

Bedroom2

  • Level: Second

Bedroom3

  • Level: Second

Bedrooms & Bathrooms

  • Bedrooms: 3
  • Bathrooms: 4
  • Full bathrooms: 3
  • 1/2 bathrooms: 1

Bonus Room

  • Level: Lower

Den

  • Level: First

Dining Room

  • Level: First

Features

  • Flooring: Hardwood
  • Number of fireplaces: 3
  • Fireplace features: Basement,Living Room,Master Bedroom
  • Fireplace: Yes
  • Finished area below ground: 615
  • Finished area above ground: 2,876

Interior Area

  • Total structure area: 3,491
  • Total interior livable area: 3,491 sqft

Kitchen

  • Level: First

Living Room

  • Level: First

Master Bedroom

  • Level: Second

Utility Room

  • Level: Second

Property

Details

  • Parcel number: 12192450

Features

  • Levels: Two
  • Has view: Yes
  • View description: Neighborhood

Lot

  • Lot size: 8,973 sqft
  • Features: Few Trees

Parking

  • Total spaces: 2
  • Parking features: Detached Garage,Driveway,Off Street
  • Has garage: Yes
  • Attached garage spaces: 2
  • Covered spaces: 2
  • Has uncovered spaces: Yes

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Cold Wave
    Cold WaveRelatively High
  • Lightning
    LightningRelatively High
  • Tornado
    TornadoRelatively High
  • Winter Weather
    Winter WeatherRelatively High
  • Earthquake
    EarthquakeModerate
  • Hail
    HailModerate
  • Inland Flooding
    Inland FloodingModerate
  • Ice Storm
    Ice StormModerate
  • Strong Wind
    Strong WindModerate

How This Home’s Risks Compare

Cold Wave
Lightning
Tornado
Winter Weather
Earthquake
Hail
Inland Flooding
Ice Storm
Strong Wind

FEMA Declared Disasters Across Kentucky Counties

Flood
Mud Landslide
Severe Storm
Straight Line Winds
Tornado
Winter Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $3,837$46,044
Home Insurance *$230$2,760
Property Taxes $707$8,484
Electricity $275$3,308
Total$5,049$60,588
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$173,108/yr
40% on housing$151,470/yr
45% on housing$134,640/yr

Kentucky FAIR Plan Programs

Kentucky FAIR Plan Reinsurance Association

Covered
WildfireWildfire
Add-on available
HailHail
WindWind
Visit Website →
Current Policies
Residential: 4,102Commercial: 175
Total Premiums$2.55M
Total Exposure$206.09M

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 11.5%
11.5%
0%30.0%
Electricity Growth Rate10-year average: 6.0%
6.0%
0%15.0%
Property Taxes Growth Rate2-year average: 1.7%
1.7%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$217This listing

vs Other Active Listings

Avg $/sqft

ZIP 40502$241
Fayette County$246

vs Homes Sold Last Month

Median $/sqft

ZIP 40502$271
Fayette County$186

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

No zestimate history available

Price History

DateEventPrice
2026-08-14Price change$722,450
2026-07-28Price change$759,000
2026-07-20Price change$799,000
2026-06-22Listed for sale$894,900

For Sale by Agent

AgentSteve Klein
BrokerageBluegrass Sotheby's International Realty

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