Two-Unit
1320 Banklick Street, Covington, KY 41011
For Sale
New
$343,900
Each apartment has a two-bedroom, two-bathroom layout and is occupied under a month-to-month lease.
Property Size1,632 SF
Days on Market4
Property Features for 1320 Banklick Street
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Building Details
Building Size
Tenancy
Listing Agency:
Realty HQ of NKY
Listed By:
J. Aaron Vince · License #432511656
Source:
Blakehaag.kw
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 2:14AM
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 Realty HQ of NKY
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Investment Insights
Based on property information with market context.
This duplex contains two apartments, each configured with 2 bedrooms and 2 bathrooms. The property was reconstructed after a fire and both units are currently occupied on month-to-month leases.
Located in Covington, the building offers a two-unit residential configuration with matching bedroom and bathroom counts in each apartment.
Located in Covington, the building offers a two-unit residential configuration with matching bedroom and bathroom counts in each apartment.
Key Highlights
- Two apartments, each with 2 bedrooms and 2 bathrooms
- Both units occupied under month‑to‑month leases
- Reconstructed following a fire
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,643
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$292,860
$292.9K
Cap Rate 7%
$209,186
$209.2K
Cap Rate 9%
$162,700
$162.7K
Market Conditions
NOI Build-Up for 1,632 SF
Gross rent
$22.5K $13.80/SF
− Vacancy
−$1.6K −$0.98/SF
EGI
$20.9K $12.82/SF
− OpEx
−$6.3K −$3.85/SF
NOI
$14.6K $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%
$292,860
Cap Rate 7%
$209,186
Cap Rate 9%
$162,700
Alternative Uses
Best Use
Multifamily LT 5
$209.2K
$183.0K – $244.1K
NOI $14,643 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$186.5K
$163.2K – $217.5K
NOI $13,052 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$421.3K
$368.7K – $491.5K
NOI $29,492 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,589
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 - Each apartment has a two-bedroom, two-bathroom layout and is occupied under a month-to-month lease.
Where is this duplex located?
The property is located at 1320 Banklick Street Covington, KY.
What is the asking price?
The asking price for this property is $343,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 2 bathrooms; Both units occupied under month‑to‑month leases; Reconstructed following a fire
