Duplex with Updated Upper
For Sale
$320,000
224 E Robbins St, Covington, KY 41011
The lower residence is leased to long-term tenants, and the upper unit is vacant.
Property Size2,128 SF
Price / SF$150.38
Days on Market17
Property Features for 224 E Robbins St
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Listing Agency:
Haven Homes Group
(859) 444-0180
Listed By:
Jacob Neumann
(859) 443-6444
Source:
Exprealty
Added: Oct 12
Changed: Oct 27
Last Checked: Oct 27 at 4:51AM
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 Haven Homes Group
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Investment Insights
Based on property information with market context.
This Covington duplex has two residences: a vacant upper unit with 3 bedrooms and 1 bathroom, and a lower unit with 2 bedrooms and 1 bathroom that has long-term tenants. The upper unit includes a refreshed kitchen, LVP flooring, updated finishes, and laundry hookups. Building improvements include a new roof, HVAC, windows, and siding.
MainStrasse Village shops and restaurants, along with the Covington Riverwalk, are minutes away. The property also has highway access to downtown Cincinnati and Northern Kentucky.
MainStrasse Village shops and restaurants, along with the Covington Riverwalk, are minutes away. The property also has highway access to downtown Cincinnati and Northern Kentucky.
Key Highlights
- Two residences: upper unit with 3 bedrooms and 1 bathroom; lower unit with 2 bedrooms and 1 bathroom
- Vacant upper unit; lower residence has long‑term tenants
- Upper unit features a refreshed kitchen, LVP flooring, updated finishes, and laundry hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,093
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,860
$381.9K
Cap Rate 7%
$272,757
$272.8K
Cap Rate 9%
$212,144
$212.1K
Market Conditions
NOI Build-Up for 2,128 SF
Gross rent
$29.4K $13.80/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$27.3K $12.82/SF
− OpEx
−$8.2K −$3.85/SF
NOI
$19.1K $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%
$381,860
Cap Rate 7%
$272,757
Cap Rate 9%
$212,144
Alternative Uses
Best Use
Multifamily LT 5
$272.8K
$238.7K – $318.2K
NOI $19,093 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$243.1K
$212.7K – $283.7K
NOI $17,019 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$549.4K
$480.7K – $640.9K
NOI $38,455 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,988
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The lower residence is leased to long-term tenants, and the upper unit is vacant.
Where is this duplex located?
The property is located at 224 E Robbins St Covington, KY.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two residences: upper unit with 3 bedrooms and 1 bathroom; lower unit with 2 bedrooms and 1 bathroom; Vacant upper unit; lower residence has long‑term tenants; Upper unit features a refreshed kitchen, LVP flooring, updated finishes, and laundry hookups
