$237,500
2 Bed · 2 Bath · 1,340 Sq Ft
Updated 2BR/2BA, 1-car garage, fenced yard, steps to Old Mill Pond Trail
2
Beds
2
Baths
1,340
Sq Ft
2007
Built
0.11 acres
Lot
1-car attached + 2-car driveway
Garage
The first thing that catches your eye at 116 Gates Circle is the corner-lot advantage — wider sight lines, a private side yard and a fenced backyard that feel more like a small single-family home than a typical townhouse. Inside, 1,340 square feet have been thoughtfully updated: luxury vinyl plank floors extend under high ceilings finished with crown molding, modern LED fixtures brighten living spaces, and a gas fireplace anchors the main room for casual evenings.
Recent renovations are practical and modern. Both bathrooms show contemporary upgrades including smart toilets/bidets and LED smart mirrors; finishes are crisp, neutral and intentionally low-maintenance. The floorplan supports everyday living and entertaining — open living and dining areas flow to a private patio through a sliding door, creating an immediate indoor-outdoor connection that expands usable space in warmer months. A one-car attached garage and a two-car driveway provide flexible parking for guests and owners.
This home was built in 2007 and has been maintained to a high standard; paint, flooring and lighting updates mean minimal near-term work for the next owner. The corner position gives extra privacy and a larger yard footprint compared with many units in Gates Commons — a meaningful perk for buyers who value outdoor space or gardeners who want room for planters and lawn. The layout feels intentionally livable for professionals, downsizers, or investors seeking a turnkey rental with proven demand in the area.
Location is a practical highlight. You're roughly one mile from Old Mill Pond Trail for walks and biking, under three miles to Lexington Medical Center, and less than a mile from Lexington Square shopping and restaurants. River Bluff High School (rated 9/10) serves the area, with Lakeside Middle (7/10) and Lexington Elementary (4/10) also in the district. Comparable recent sales in Gates Commons place fair market value between $230K–$245K, and this unit reflects those competitive market conditions while offering the added benefit of a corner lot and updated systems. With a low-maintenance interior and private outdoor space, 116 Gates Circle is ready for immediate occupancy or rental deployment.
Gates Commons offers a convenient, small-community feel with quick access to downtown Lexington amenities. Local favorites include Lexington Square’s shops and restaurants, while Old Mill Pond Trail (about one mile away) provides easy outdoor recreation. The neighborhood is well located for commutes via Two Notch Road and is close to Lexington Medical Center. Families and professionals appreciate the blend of suburban calm with nearby retail, trails and essential services.
Lexington’s market is currently balanced with a slight tilt toward sellers in well-priced, move-in-ready segments. Inventory sits around 2.5 months — low enough that well-presented homes typically attract activity quickly — and the local median sale price registers near $250,000. Homes in this corridor average roughly 35 days on market, indicating steady demand without frenzied bidding. Recent comparable townhouse sales in Gates Commons closed between $230,000 and $245,000 in the last six months, supporting a midpoint valuation near $237,500 ($177/SF) for an updated 2BR/2BA unit like 116 Gates Circle.
Single-family-style townhouses in this pocket perform reliably: buyers prize outdoor space, updated finishes and proximity to downtown Lexington. Rental demand is also strong — estimated rent around $1,500/month yields a gross return near 7.5% — so this property appeals to both owner-occupants and investors. Key timing considerations: limited inventory and steady year-over-year appreciation (approx. 5% one-year, 25% over five years) make now a reasonable time for sellers to list and buyers to move decisively when properties are updated and priced at market. Still, verify system ages (roof, HVAC) and HOA details during due diligence to avoid surprises.
River Bluff High School
High
Lakeside Middle School
Middle
Lexington Elementary School
Elementary
Excellent access to outdoor recreation with Old Mill Pond Trail about 1 mile away, neighborhood green spaces for daily walks, and nearby parks and community recreation facilities for biking and outdoor fitness.
Well-maintained townhouse in a desirable Lexington neighborhood with recent renovations and proximity to downtown amenities. Corner lot and private outdoor space enhance appeal. Balanced market conditions suggest stable investment potential.
Buyers should conduct independent due diligence before making any purchase decisions.
Low
$230K
Midpoint
$238K
High
$245K
$177/SF estimated price per square foot
Sales comparison approach using 3 comparable sales within 1 mile sold in last 6 months. Adjusted for renovation quality, lot size, and bedroom count. Assessed value of $8,460 appears below market.
As of 2026-03-08
This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.
Lexington has experienced steady population growth over the past decade, with increasing demand for residential properties. Walkability Rating estimate: 45/100.
Close proximity to downtown Lexington offers access to shopping, dining, and recreational amenities. Old Mill Pond Trail provides outdoor activities within a mile.
Market data is based on aggregated public records and may not reflect real-time conditions.
Allowed Uses
$168/SF
Arm's length transaction
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