Historic Duplex with Separate
1946 Eastern Ave, Covington, KY 41014
For Sale
$345,000
Two residential units offer individual entries, full kitchens, and flexible owner-occupancy or rental use.
Property Size2,856 SF
Price / SF$120.80
Days on Market93
Property Features for 1946 Eastern Ave
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
2 Rivers Realty LLC
Listed By:
Damian Sells · License KY #187904
(859) 653-0778
Source:
Finn-team
Added: Aug 10
Changed: Oct 26
Last Checked: Oct 7 at 3:59PM
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 2 Rivers Realty LLC
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Investment Insights
Based on property information with market context.
This historic duplex at 1946 Eastern Ave in Covington, KY includes two residential units with separate entrances and full kitchens. Both residences feature spacious interiors, comfortable living areas, abundant natural light, and classic architectural details that reflect the property's historic character.
The configuration supports several ownership arrangements, including living in one unit while renting the other. The two-unit layout also provides distinct residential spaces within a single property, with the second-floor unit represented in the available photos.
The configuration supports several ownership arrangements, including living in one unit while renting the other. The two-unit layout also provides distinct residential spaces within a single property, with the second-floor unit represented in the available photos.
Key Highlights
- Historic duplex with two separate residential units
- Individual entrances for each unit
- Full kitchen provided in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,625
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$512,500
$512.5K
Cap Rate 7%
$366,071
$366.1K
Cap Rate 9%
$284,722
$284.7K
Market Conditions
NOI Build-Up for 2,856 SF
Gross rent
$39.4K $13.80/SF
− Vacancy
−$2.8K −$0.98/SF
EGI
$36.6K $12.82/SF
− OpEx
−$11.0K −$3.85/SF
NOI
$25.6K $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%
$512,500
Cap Rate 7%
$366,071
Cap Rate 9%
$284,722
Alternative Uses
Best Use
Multifamily LT 5
$366.1K
$320.3K – $427.1K
NOI $25,625 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$326.3K
$285.5K – $380.7K
NOI $22,841 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$737.3K
$645.1K – $860.2K
NOI $51,611 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
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Business Placement
Demographics for 41014, KY
7,048
Population
3,521
Households
2
Avg Household Size
36
Median Age
28%
College-Educated
83%
High-School Grad
1.0 sq mi
ZIP Area
7,048
Density / Sq Mi
$56,148
Median Household Income
$41,972
Median Earnings
$979
Median Rent
$149,400
Median Home Value
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Market
Average Price Trend$/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 - Two residential units offer individual entries, full kitchens, and flexible owner-occupancy or rental use.
Where is this duplex located?
The property is located at 1946 Eastern Ave Covington, KY.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Historic duplex with two separate residential units; Individual entrances for each unit; Full kitchen provided in both residences
