Three-Story
1303 Highway Ave, Covington, KY 41011
For Sale
$274,900
The layout pairs a ground-level studio with an upper residence offering three bedrooms and a study.
Property Size1,392 SF
Price / SF$197.49
Days on Market22
Property Features for 1303 Highway Ave
General Information
Standard status
Size
Units
Unit Mix
Multifamily Units
Amenities
basement laundry room
in-unit laundry
private patio
Building Details
Buildings
Stories
Listing Agency:
Add A Pad Realty
(859) 866-5630
Listed By:
Charles Zimmerman · License #214049
(859) 982-3039
Source:
Exprealty
Added: Oct 19
Changed: Nov 8
Last Checked: Nov 8 at 9:33AM
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 Add A Pad Realty
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Investment Insights
Based on property information with market context.
This three-story duplex contains two distinct living spaces. A studio occupies the first level and connects to a basement laundry room. The upper apartment spans the second and third floors, with three bedrooms, a study, its own laundry, and a private patio.
Key Highlights
- Ground‑level studio with access to basement laundry
- Upper apartment spans two floors and includes three bedrooms and a study
- Separate laundry serving the upper apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,489
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$249,780
$249.8K
Cap Rate 7%
$178,414
$178.4K
Cap Rate 9%
$138,767
$138.8K
Market Conditions
NOI Build-Up for 1,392 SF
Gross rent
$19.2K $13.80/SF
− Vacancy
−$1.4K −$0.98/SF
EGI
$17.8K $12.82/SF
− OpEx
−$5.4K −$3.85/SF
NOI
$12.5K $8.97/SF
Area
Kenton County, KY
Vacancy
7.12%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$249,780
Cap Rate 7%
$178,414
Cap Rate 9%
$138,767
Alternative Uses
Best Use
Multifamily LT 5
$178.4K
$156.1K – $208.2K
NOI $12,489 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$159.0K
$139.2K – $185.6K
NOI $11,133 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$359.4K
$314.4K – $419.3K
NOI $25,155 @ 7.0% cap · market cap 9.15%
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
204
Businesses Nearby
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Business Placement
Demographics for 41011, KY
26,470
Population
14,490
Households
1.8
Avg Household Size
37
Median Age
44%
College-Educated
89%
High-School Grad
7.0 sq mi
ZIP Area
3,781
Density / Sq Mi
$67,075
Median Household Income
$47,192
Median Earnings
$1,011
Median Rent
$269,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Kenton County, KY
Properties on Market for Duplexes in Kenton County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The layout pairs a ground-level studio with an upper residence offering three bedrooms and a study.
Where is this duplex located?
The property is located at 1303 Highway Ave Covington, KY.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Ground‑level studio with access to basement laundry; Upper apartment spans two floors and includes three bedrooms and a study; Separate laundry serving the upper apartment
