Along a quiet stretch of the Kentucky River, just off one of the oldest continuously operating ferries in the country, sits a riverfront property that’s equal parts opportunity and cautionary tale. Listed at $45,000 in Lexington, Kentucky, this parcel comes with direct water access, a rich slice of local history, and a home that buyers are explicitly warned to enter at their own risk.
Listing Overview
| Detail | Information |
|---|---|
| Address | 321 Camp Daniel Boone Rd, Lexington, KY 40515 |
| Price | $45,000 |
| Price per sq. ft. | $25 |
| Bedrooms | 4 |
| Bathrooms | 1.75 (1 full, 1 half) |
| Living Area | 1,792 sq. ft. |
| Lot Size | 0.85 Acres |
| Waterfront | Yes — Kentucky River |
| County | Jessamine County (unincorporated, Lexington mailing address) |
| Subdivision | Valley View East |
| MLS Source | Imagine MLS #26023132 |
| Days on Market | 27 |
What Makes This Property Different
The defining feature here is direct frontage on the Kentucky River, with the listing highlighting fishing access, quiet river views, and what’s described as a genuinely rare stretch of riverfront land. The lot sits near the historic Valley View Ferry — in continuous operation since 1785 and considered one of the oldest nonseasonal ferry services in the United States — which still carries passengers for free across Jessamine, Madison, and Fayette counties. The site itself has a layered past, having once been home to a camp dating back to 1890, followed by a YMCA summer camp that ran from 1911 to 1978.
Today, the surrounding area has settled into a small residential pocket, giving buyers the feel of unincorporated countryside while keeping a Lexington address. The existing structure and an accompanying barn are both being sold strictly “as is,” and the seller has attached a serious caveat: the property sits in a flood zone, and anyone entering the home or barn does so entirely at their own risk. A signed hold-harmless waiver is required from every visiting party before any showing can even be scheduled — a strong signal that the structures need significant work, or worse, may be structurally compromised.
Interior & Construction Details
| Feature | Details |
|---|---|
| Levels | Two |
| Flooring | Concrete, vinyl, wood (mixed) |
| Fireplace | None |
| Foundation | Concrete perimeter, slab |
| Exterior Material | Vinyl and wood siding |
| Roof | Metal, shingle |
| Additional Structures | Barn |
| Fencing | Partial, wire |
| Water Supply | Public |
| Sewer | Septic tank (not currently available/functional per listing) |
| Utilities | Electricity available, propane, water available |
| Horses Permitted | Yes |
| Parking | Driveway, uncovered spaces |
Price History
| Date | Event | Price | Change |
|---|---|---|---|
| June 27, 2019 | Listed for sale (auction) | — | — |
| July 2019 | Series of auction price adjustments | ~$48,600–$52,200 | Multiple small changes |
| July 19, 2019 | Listing removed | $48,605 | — |
| April 15, 2024 | Listed for sale | $49,900 | — |
| May 20, 2024 | Price reduced | $39,900 | -20% |
| June 16, 2024 | Pending sale | $39,900 | — |
| July 19, 2024 | Sold | $30,000 | -24.8% |
| August 25, 2026 | Re-listed for sale | $55,000 | +83.3% |
| August 31, 2026 | Price reduced | $45,000 | -18.2% |
This price trail tells an interesting story: the property last changed hands for just $30,000 in mid-2024. It returned to the market in August 2026 priced nearly double that at $55,000, before a quick $10,000 reduction brought it to its current $45,000 asking price within about a week of relisting.
Public Tax History
| Year | Property Taxes | Change | Tax Assessment |
|---|---|---|---|
| 2025 | $860 | +160.6% | $75,000 |
| 2024 | $330 | -14.6% | $75,000 |
| 2023 | $386 | — | $75,000 |
| 2022 | $386 | -0.4% | $75,000 |
| 2021 | $388 | +66.5% | $75,000 |
| 2020 | $233 | +1.2% | $60,000 |
| 2019 | $230 | -7.5% | $60,000 |
The tax assessment has held steady at $75,000 since 2021, even as the actual sale price has swung well below and well above that figure — a reminder that assessed value and market price don’t always move together, especially for unconventional properties like this one.
Estimated Market Value
Zillow currently lists no Zestimate and no estimated sales range for this property. This is common for homes with major condition uncertainties, flood-zone status, or highly unusual histories, since automated valuation models typically can’t account for those risk factors. A Rent Zestimate of $1,913/month is provided, though realistically renting out a structure sold “as-is” with a hold-harmless entry requirement would depend entirely on what condition the home is in after inspection or renovation.
Estimated Monthly Payment
| Payment Component | Estimated Monthly Cost |
|---|---|
| Principal & Interest | $1,547 |
| Property Taxes | $170 |
| Home Insurance | $105 |
| Mortgage Insurance | $0 |
| HOA Fees | $0 |
| Total Estimated Payment | $1,822/month |
Given the flood-zone location and as-is condition, buyers should expect insurance costs and financing terms to differ meaningfully from this general estimate — flood insurance in particular is likely to be a significant added cost not reflected in the figures above.
Location and Neighborhood
The property sits on a Walk Score of just 5 out of 100, rated fully car-dependent, with a Bike Score of 1 out of 100. Nearby schools include Hattie C. Warner Elementary (rated 8/10), East Jessamine Middle School (5/10), and East Jessamine High School (7/10), all several miles away.
Should You Consider This Property?
This listing is built for a very specific kind of buyer: someone chasing a genuine riverfront project rather than a move-in-ready home. The direct Kentucky River access, historical setting near the Valley View Ferry, and low entry price make it an intriguing option for a rebuild, a seasonal getaway, or a weekend retreat — but the flood-zone designation, as-is sale terms, and required hold-harmless waiver all point to real risk that needs to be taken seriously. A full structural and flood-risk inspection before making any offer would be essential, not optional.
Source: Property listing data via Zillow (MLS #26023132).