Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1115 Patterson St Newport, KY 41071

    Sponsored
    For Sale
    Pending
    $165,000

    MULTI_FAMILY - Newport, KY

    Property size:
    1,841 SF
    Lot size:
    0.04 Acres
    Days on Market:
    10
    Last Refresh:
    Feb 5 at 2:06 am

    Property Features for 1115 Patterson St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Window features
    Wood Frames
    Rooms
    Bedroom 1, Bathroom 2, Bathroom 1, Basement, Bedroom 2
    Bedrooms
    2
    Bathrooms
    2
    APN
    999-99-02-637.00
    Parking features
    On Street
    Basement
    Full
    Appliances
    Gas Range, Refrigerator
    Size
    1,841 SF
    Lot size
    0.04 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1907
    Floors in Building
    2
    Number of units
    2
    Building materials
    Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Stephanie Peluso-Steffen

    H/R Real Estate LLC 3229859

    Listing agent Stephanie Peluso-Steffen (859) 415-4477 License #201629

    Listing date Jan 27, 2026

    MLS# 639387 Listing URL

    Copyright © 2026 Northern Kentucky MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Newport Two-Family Investment Opportunity

    This two-family property in Newport, Kentucky, presents an investment opportunity with current income and potential for increased rents through improvements. The property is conveniently located with easy access to downtown, highways, and local attractions. The building contains 1841 square feet and sits on a 0.04-acre lot. Unit 1 currently rents for $435 per month, while Unit 2 rents for $750 per month. Both units are on month-to-month leases. The property features spacious apartments and updated electric. The property is being sold as is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Campbell
    State
    Kentucky
    Longitude
    -84.494466
    Latitude
    39.081678

    Nearby Similar for Sale

    • $209,900
      Pending

      Newport, KY Multifamily Investment

      Move-in ready multifamily property near downtown Cincinnati/Covington.
      314 W 9Th St, Newport, KY 41071
      View Details
    • $675,000
      2,258 SF

      Historic Building on Monmouth Street

      High-visibility commercial property near Newport on the Levee.
      336 Monmouth St, Newport, KY 41071
      View Details
    • New
      $212,000
      Pending

      Newport Duplex For Sale

      Duplex near shopping, dining, and Downtown Cincinnati.
      37 Parkview Ave, Newport, KY 41071
      View Details
    • $1,500,000
      19,106 SF

      Iconic Commercial Property in Newport

      Historic commercial property suitable for entertainment, hospitality, or creative uses.
      24 E 3Rd St, Newport, KY 41071
      View Details
    • $699,000
      Pending

      Newport Multifamily Investment Opportunity

      Six-unit building in Newport's East Row Historic District.
      612 Monroe St, Newport, KY 41071
      View Details
    • $239,500
      2,700 SF

      Mixed-Use Building in Newport, KY

      Mixed-use property with apartment and commercial space in Newport.
      228 E 10Th St, Newport, KY 41071
      View Details
    • $250,000
      1,592 SF

      Historic Duplex in East Row

      Charming duplex in historic district with income potential.
      908 Hamlet St, Newport, KY 41071
      View Details
    • $275,000
      4,734 SF

      Newport Multifamily Conversion Opportunity

      Former candy store with permits for residential/commercial conversion.
      125 W 11Th St, Newport, KY 41071
      View Details
    • $435,000
      3,144 SF

      Newport Fourplex: Investment Opportunity

      Fourplex in Newport's Westside with strong rental demand.
      310 W 10Th St, Newport, KY 41071
      View Details
    • $897,750
      3,906 SF

      Newport Multifamily Investment Opportunity

      Six-unit apartment building with downtown Cincinnati views and excellent cashflow.
      217 W 13Th St, Newport, KY 41071
      View Details
    • New
      $225,000
      Pending

      Renovated Duplex in Prime Location

      Updated duplex near downtown Newport, ideal for investors or owner-occupants.
      108 W 7Th St, Newport, KY 41071
      View Details
    • $795,000
      8,316 SF

      Restored Historic Building in Newport

      Painstakingly restored historic building with multiple units and ample parking.
      241 E 10Th St, Newport, KY 41071
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-family property in Newport with income potential and convenient location.
    Where is this duplex located?
    The property is located at 1115 Patterson St Newport, KY.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: - Solid current income from two rental units.; - Investment opportunity with potential to increase rents.; - Convenient location with easy access to downtown, highways, and local attractions.
    (859) 415-4477
    Request Owner's contact information
    1115 Patterson St Newport, KY 41071
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1115 Patterson St
    Newport, KY 41071
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1115 Patterson St Newport, KY 41071
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Stephanie Peluso-Steffen
    Real Estate License ID: 201629
    (859) 415-4477
    Learn more
    Google sign-in failed. Please try again or use another login method.