Some opportunities are defined by their potential. Others by their setting. This home offers both. Perfectly positioned in sought-after Grasmere, this tri-level enjoys one of the neighborhood's most coveted views—overlooking a picturesque four-board fenced horse farm, a setting that rarely becomes available, especially at this price point. Lovingly cared for by the same owners for decades, the home reflects years of pride in ownership. While many buyers may choose to update the kitchen and baths over time, there's no need to tackle everything at once. Stainless steel appliances have already been updated, the home has been well maintained, and it's comfortable and move-in ready from day one. The versatile tri-level floor plan offers multiple living spaces, generous room sizes, and an in-ground pool, creating plenty of room to relax, entertain, and make memories for years to come. Some features can be renovated. A setting like this cannot. If you've been waiting for the chance to own a home with an extraordinary view in one of the area's most established neighborhoods, this is an opportunity worth seeing.
For sale
Price cut: $24K (6/28)
$425,000
1981 Favell Ct, Lexington, KY 40503
4beds
2,152sqft
Single Family Residence
Built in 1976
0.27 Acres Lot
$415,500 Zestimate®
$197/sqft
$-- HOA
What's special
In-ground poolStainless steel appliancesExtraordinary viewTri-level floor planMultiple living spacesGenerous room sizes
- 7 days |
- 3,255 |
- 167 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Amy Diamond-Kiper 859-489-8926,
ERA Select Real Estate
Source: Imagine MLS,MLS#: 26014992
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
Primary bedroom
- Level: Second
Bedroom 2
- Level: Second
Bedroom 3
- Level: Second
Bedroom 4
- Level: Lower
Bathroom 1
- Level: Second
Bathroom 2
- Level: Second
Bathroom 3
- Level: Lower
Dining room
- Level: First
Family room
- Level: Lower
Kitchen
- Level: First
Living room
- Level: First
Utility room
- Level: Lower
Heating
- Heat Pump
Cooling
- Heat Pump
Appliances
- Included: Dishwasher, Microwave, Refrigerator, Range
- Laundry: Electric Dryer Hookup, Washer Hookup
Features
- Breakfast Bar, Eat-in Kitchen, Ceiling Fan(s)
- Flooring: Carpet, Ceramic Tile, Hardwood
- Basement: Bath/Stubbed,Finished
- Number of fireplaces: 1
- Fireplace features: Family Room
Interior area
- Total structure area: 2,152
- Total interior livable area: 2,152 sqft
- Finished area above ground: 1,458
- Finished area below ground: 694
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: Attached Garage, Driveway, Garage Door Opener
- Garage spaces: 2
- Has uncovered spaces: Yes
Features
- Levels: Three Or More,Multi/Split
- Has private pool: Yes
- Pool features: In Ground
- Fencing: Privacy,Wood
- Has view: Yes
- View description: Farm
Lot
- Size: 0.27 Acres
- Features: Landscaped, Few Trees
Details
- Parcel number: 26166688
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Brick Veneer, Wood Siding
- Foundation: Block
- Roof: Dimensional Style
Condition
- Year built: 1976
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: Grasmere
HOA
- Has HOA: No
Location
- Region: Lexington
Financial & listing details
- Price per square foot: $197/sqft
- Tax assessed value: $210,000
- Annual tax amount: $2,286
- Date on market: 6/25/2026
Estimated market value
$415,500
$395,000 - $436,000
$2,826/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/28/2026 | Price change | $425,000-5.3%$197/sqft |
Source:  Imagine MLS #26014992 Report a problem | ||
| 6/25/2026 | Listed for sale | $449,000+5.6%$209/sqft |
Source: Imagine MLS #26014992 Report a problem | ||
| 10/19/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 10/11/2021 | Listed for sale | $425,000+206.9%$197/sqft |
Source: Owner Report a problem | ||
| 12/6/1999 | Sold | $138,500$64/sqft |
Source:  Imagine MLS #9909506 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $2,286 | $210,000 |
| 2023 | $2,286 -3.2% | $210,000 |
| 2022 | $2,363 | $210,000 |
| 2021 | $2,363 +18.2% | $210,000 +18.2% |
| 2020 | $1,999 | $177,700 |
| 2019 | $1,999 | $177,700 |
| 2018 | $1,999 +5.6% | $177,700 |
| 2017 | $1,893 +23.5% | $177,700 +12.1% |
| 2015 | $1,532 | $158,500 |
| 2014 | $1,532 | $158,500 |
| 2012 | $1,532 | $158,500 |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | -- | -- |
| 2008 | -- | $158,500 |
| 2006 | -- | -- |
| 2005 | -- | -- |
| 2004 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
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.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Indian Hills-Stonewall Estates-Monticello
Nearby schools
GreatSchools rating
- 8/10Stonewall Elementary SchoolGrades: PK-5Distance: 0.8 mi
- 8/10Jessie M Clark Middle SchoolGrades: 6-8Distance: 1.1 mi
- 10/10Lafayette High SchoolGrades: 9-12Distance: 3 mi
Schools provided by the listing agent
- Elementary: Stonewall
- 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.
A local agent can set up tours, give advice and negotiate with sellers.
Nearby cities
Nearby neighborhoods
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Nearby zip codes
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