Townhome-Style Duplex With Private
2041 Franklin Street Covington, KY 41014
New
2041 Franklin Street, Covington, KY, 41014
$440,000
Pending
For Sale
$440,000
Pending
Side-by-side 3-story duplex built in 1996 with private decks, in-unit laundry, and separately metered utilities.
Property Size3,136 SF
Days on Market7
Property Features for 2041 Franklin Street
General Information
- Standard status
- Pending
- Size
- 3,136 SF
- Property subtype
- Multi Family / Multi Family
Building Details
- Year Built
- 1996
Listing agency
RE/MAX Preferred Group
(513) 324-0536
Listed by
Kevin Geraci · License #2003019422
(513) 324-0536
Source
Compass
Added: Jul 16 Updated: Jul 21 at 1:16PM Checked: Jul 21 at 1:16PM
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 RE/MAX Preferred Group
Investment Insights
Based on property information with market context.
Located at 2041 Franklin Street in Covington, KY, this townhome-style, side-by-side duplex was built in 1996 and features a low-maintenance brick and vinyl exterior. Each 3-story unit offers approximately 1,568 sq. ft. with 3 bedrooms, 2 full baths, and 1 half bath, along with a gas fireplace, in-unit laundry, and attached 2-car garages. Both units have private entrances, private decks, separately metered gas, electric, and water, and separate HVAC systems.
One unit is vacant and move-in ready, while the other has been leased for approximately six years. Additional driveway and street parking provide added convenience.
Recent updates include a roof installed in 2019, HVAC systems replaced in 2019, and R-60 attic insulation. The property also features newer appliances (approximately 2–3 years old) and carpet (approximately 2 years old). There is no HOA. The private decks overlook Holmes High School’s brand-new softball stadium, and provide views of Cincinnati’s annual WEBN fireworks.
One unit is vacant and move-in ready, while the other has been leased for approximately six years. Additional driveway and street parking provide added convenience.
Recent updates include a roof installed in 2019, HVAC systems replaced in 2019, and R-60 attic insulation. The property also features newer appliances (approximately 2–3 years old) and carpet (approximately 2 years old). There is no HOA. The private decks overlook Holmes High School’s brand-new softball stadium, and provide views of Cincinnati’s annual WEBN fireworks.
Key Highlights
- Side‑by‑side duplex townhome‑style built in 1996; each 3‑story unit offers approx. 1,568 SF with 3 bedrooms, 2 full baths, and 1 half bath.
- Private deck for each unit and private entrances; exterior is low‑maintenance brick and vinyl with balcony and deck/patio features.
- Separately metered utilities and separate HVAC systems: gas, electric, and water metered separately for each unit.
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 | $43.3k | $13.80 |
| − Vacancy | −$3.1k | −$0.98 |
| EGI | $40.2k | $12.82 |
| − OpEx | −$12.1k | −$3.85 |
| NOI | $28.1k | $8.97 |
3,136 SF · lease $13.80/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$402.0K
$351.7K – $469.0K
NOI $28,137 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$358.3K
$313.5K – $418.0K
NOI $25,080 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$809.6K
$708.4K – $944.5K
NOI $56,671 @ 7.0% cap · market cap 12.88%
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 - Side-by-side 3-story duplex built in 1996 with private decks, in-unit laundry, and separately metered utilities.
Where is this duplex located?
The property is located at 2041 Franklin Street Covington, KY.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Side‑by‑side duplex townhome‑style built in 1996; each 3‑story unit offers approx. 1,568 SF with 3 bedrooms, 2 full baths, and 1 half bath.; Private deck for each unit and private entrances; exterior is low‑maintenance brick and vinyl with balcony and deck/patio features.; Separately metered utilities and separate HVAC systems: gas, electric, and water metered separately for each unit.
