Renovated Duplex with Private
For Sale
$359,999
1159 Waterworks Rd, Newport, KY 41071
Two vacant residences offer a three-bedroom, two-bath layout alongside a two-bedroom, one-bath unit.
Property Size1,943 SF
Price / SF$185.28
Days on Market12
Property Features for 1159 Waterworks Rd
General Information
Standard status
Active
Size
1,943 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
private patio deck
Listing Agency:
Keller Williams Advisors
(513) 766-9200
Listed By:
Daniel Collins
(513) 314-0758
Source:
Exprealty
Added: Oct 15
Changed: Oct 25
Last Checked: Oct 25 at 2:50AM
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 Keller Williams Advisors
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Investment Insights
Based on property information with market context.
This 1,943-square-foot duplex in Newport contains two vacant units. One residence has three bedrooms and two full bathrooms, while the other offers two bedrooms and one full bathroom. Improvements include a new roof, replacement flooring, an updated kitchen, and a private patio deck serving the second-floor unit. A private driveway and rear parking area are also part of the property.
The Newport location provides access to downtown Cincinnati and destinations throughout Northern Kentucky.
The Newport location provides access to downtown Cincinnati and destinations throughout Northern Kentucky.
Key Highlights
- 1,943‑square‑foot duplex with two vacant units
- Unit 1 has 3 bedrooms and 2 full bathrooms
- Unit 2 has 2 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,499
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,980
$350.0K
Cap Rate 7%
$249,986
$250.0K
Cap Rate 9%
$194,433
$194.4K
Market Conditions
NOI Build-Up for 1,943 SF
Gross rent
$27.3K $14.04/SF
− Vacancy
−$2.3K −$1.17/SF
EGI
$25.0K $12.87/SF
− OpEx
−$7.5K −$3.86/SF
NOI
$17.5K $9.01/SF
Area
Campbell County, KY
Vacancy
8.36%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,980
Cap Rate 7%
$249,986
Cap Rate 9%
$194,433
Alternative Uses
Best Use
Multifamily LT 5
$250.0K
$218.7K – $291.7K
NOI $17,499 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$230.6K
$201.8K – $269.0K
NOI $16,140 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$532.9K
$466.3K – $621.8K
NOI $37,306 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
681
Businesses Nearby
Explore this area
Business Placement
Demographics for 41071, KY
19,796
Population
10,883
Households
1.8
Avg Household Size
37
Median Age
38%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
3,599
Density / Sq Mi
$58,329
Median Household Income
$44,836
Median Earnings
$1,047
Median Rent
$186,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two vacant residences offer a three-bedroom, two-bath layout alongside a two-bedroom, one-bath unit.
Where is this duplex located?
The property is located at 1159 Waterworks Rd Newport, KY.
What is the asking price?
The asking price for this property is $359,999.
What are key features of this property?
This property features: 1,943‑square‑foot duplex with two vacant units; Unit 1 has 3 bedrooms and 2 full bathrooms; Unit 2 has 2 bedrooms and 1 full bathroom
