Brick Two-Family Residential
1111 Park Avenue Newport, KY 41071
1111 Park Avenue, Newport, KY, 41071
$259,000
For Sale
$259,000
Full brick two-family with a full basement, in-unit laundry hookups, and tenant-owned appliances.
Property Size2,632 SF
Price / SF$98.40
Days on Market64
Property Features for 1111 Park Avenue
General Information
- Standard status
- Active
- Size
- 2,632 SF
- Property subtype
- Multi Family / Multi Family
Listing agency
Cahill Real Estate Services
(859) 331-7400
Listed by
Cindy Cahill · License #228304
(859) 331-7400
Source
Compass
Added: May 20 Updated: Jul 21 at 3:34PM Checked: Jul 21 at 3:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cahill Real Estate Services
Investment Insights
Based on property information with market context.
Full brick two-family residence with separate unit layouts and a full basement including laundry hook-ups for each tenant. The first-floor unit features 2 bedrooms and 1 bath. The second-floor unit offers 3 to 4 bedrooms and 1 bath, with window A/C units and washer/dryers that are owned by the tenants. Kitchen appliances are included as part of the property, and tenants pay their own utilities.
The property is located at 1111 Park Avenue in Newport, Kentucky, across from the entry to Wiedeman Hill. Public remarks note it is approximately 3 minutes to I-275 and the Newport Shopping Center and dining, and that plenty of street parking is available.
Showings require a 12-hour notice. The yard is described as quaint, with the first-floor tenant maintaining the yard.
The property is located at 1111 Park Avenue in Newport, Kentucky, across from the entry to Wiedeman Hill. Public remarks note it is approximately 3 minutes to I-275 and the Newport Shopping Center and dining, and that plenty of street parking is available.
Showings require a 12-hour notice. The yard is described as quaint, with the first-floor tenant maintaining the yard.
Key Highlights
- Full brick 2‑family with a full basement and 2 total bathrooms
- 1st floor: 2 bed/1 bath; 2nd floor: 3‑4 bedrooms and 1 bath
- Basement includes laundry hook‑ups for each tenant, with in‑bassent laundry features
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.0k | $14.04 |
| − Vacancy | −$3.1k | −$1.17 |
| EGI | $33.9k | $12.87 |
| − OpEx | −$10.2k | −$3.86 |
| NOI | $23.7k | $9.01 |
2,632 SF · lease $14.04/SF/yr · vacancy 8.36% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$338.6K
$296.3K – $395.1K
NOI $23,705 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$312.3K
$273.3K – $364.4K
NOI $21,863 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$721.9K
$631.7K – $842.2K
NOI $50,534 @ 7.0% cap · market cap 19.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Full brick two-family with a full basement, in-unit laundry hookups, and tenant-owned appliances.
Where is this duplex located?
The property is located at 1111 Park Avenue Newport, KY.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Full brick 2‑family with a full basement and 2 total bathrooms; 1st floor: 2 bed/1 bath; 2nd floor: 3‑4 bedrooms and 1 bath; Basement includes laundry hook‑ups for each tenant, with in‑bassent laundry features
