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For sale
    • $335,000

    481 Severn Way, Lexington, KY 40503

    4beds
    2,190sqft
    : 
    $2,164/mo
    Get pre-qualified
    Single Family Residence
    Built in 1974
    9,191 Square Feet Lot
    $320,500 Zestimate®
    $153/sqft
    $-- HOA

    What's special

    Oversized one-car garageUtility roomSplit-foyer designFenced backyard
    For the first time since it was built in 1974, this one-owner Open Gates home is ready for its next chapter! Located in one of Lexington's most convenient established neighborhoods, you'll have quick access to Nicholasville Road, Harrodsburg Road, downtown Lexington and the University of Kentucky. The split-foyer design provides comfortable living space across both levels. Upstairs, the living room flows into the dining area, where glass doors extend the space onto the rear deck overlooking the fenced backyard. Three bedrooms and a full bath complete the main level, while downstairs offers a second gathering space anchored by a brick fireplace with gas logs. A fourth bedroom and full bath add flexibility for guests, a home office or additional living space, with the utility room and oversized one-car garage rounding out the lower level. This is a home with the space, layout and location to become something special. Bring your ideas, choose the finishes and make the updates that fit your style rather than paying for someone else's choices. With a fenced backyard, four-bedroom, two-bath layout and a sought-after Open Gates location, the foundation is here. Now it's ready for someone with a vision to make it their own.
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    Zillow last checked:

    Listing updated:

    Listed by:

    Nicholas Ratliff 859-351-9796,

    Real Broker, LLC - Lexington,

    Nick Ratliff Realty Team - Nicholas Ratliff 859-554-2075,

    Real Broker, LLC - Lexington

    Source: Imagine MLS,MLS#: 26021990MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 4
      • Bathrooms: 2
      • Full bathrooms: 2
      Primary bedroom
      • Level: First
      Bedroom 2
      • Level: First
      Bedroom 3
      • Level: First
      Bedroom 4
      • Level: Lower
      Bathroom 1
      • Level: First
      Bathroom 2
      • Level: Lower
      Dining room
      • Level: First
      Family room
      • Level: Lower
      Foyer
      • Level: First
      Kitchen
      • Level: First
      Living room
      • Level: First
      Utility room
      • Level: Lower
      Heating
      • Electric, Heat Pump
      Cooling
      • Electric, Heat Pump
      Appliances
      • Included: Dishwasher, Microwave, Refrigerator, Range
      • Laundry: Electric Dryer Hookup, Washer Hookup, Lower Level
      Features
      • Entrance Foyer, Eat-in Kitchen, Ceiling Fan(s)
      • Flooring: Hardwood, Other, Vinyl
      • Windows: Blinds
      • Basement: Full,Partially Finished
      • Number of fireplaces: 1
      • Fireplace features: Basement, Family Room, Gas Log, Masonry
      Interior area
      • Total structure area: 2,190
      • Total interior livable area: 2,190 sqft
      • Finished area above ground: 1,332
      • Finished area below ground: 858

      Property

      Parking
      • Total spaces: 1
      • Parking features: Attached Garage, Basement, Driveway, Garage Faces Front
      • Garage spaces: 1
      • Has uncovered spaces: Yes
      Features
      • Levels: Multi/Split
      • Fencing: Chain Link,Wood
      Lot
      • Size: 9,191 Square Feet
      • Features: Few Trees
      Details
      • Parcel number: 10547400

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Split Level,Raised Ranch
      • Property subtype: Single Family Residence
      Materials
      • Brick Veneer
      • Foundation: Block
      • Roof: Shingle
      Condition
      • Year built: 1974

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

      Community & HOA

      Community
      • Subdivision: Open Gates
      HOA
      • Has HOA: No
      Location
      • Region: Lexington

      Financial & listing details

      • Price per square foot: $153/sqft
      • Tax assessed value: $263,000
      • Annual tax amount: $2,645
      • Date on market: 8/14/2026

        Estimated market value

        $320,500

        $304,000 - $337,000

        $1,984/mo

        Price history

        DateEventPrice
        8/14/2026Listed for sale$335,000+721.1%$153/sqft
        Source: Imagine MLS #26021990 Report a problem
        6/7/1974Sold$40,800$19/sqft
        Source: Agent Provided Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$2,645 -1.2%$263,000
        2024$2,678 +27.5%$263,000 +21.6%
        2023$2,101 -6.4%$216,300
        2022$2,246 $216,300
        2021$2,246 +25.5%$216,300 +20.6%
        2020$1,790 $179,400
        2019$1,790 -1.2%$179,400
        2018$1,811 +4.9%$179,400
        2017$1,726 +35.3%$179,400 +21.2%
        2015$1,276 $148,000 +32.1%
        2014$1,276 $112,000 -24.3%
        2012$1,276 $148,000
        2011-- --
        2010-- --
        2009-- --
        2008-- $116,600
        2006-- --
        2005-- --
        2004-- --
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        See how much you could borrow to make a competitive offer.
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        Climate risks

        Neighborhood: Southland-Deerfield-Open Gates

        Getting around

        51 / 100
        Somewhat Walkable
        58 / 100
        Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Clays Mill
        • Middle: Jessie Clark
        • High: Lafayette

        Source: Imagine MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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