Building Details

Building Size 1,326 SF

Year Built 2023

Listing Agency: Keller Williams Realty Service

Listed By: Cara Chitwood · License #268341 Show Phone

Source: Kw

Added: Nov 1, 2025 Changed: Oct 25 Last Checked: Oct 28 at 2:12PM

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Investment Insights

Based on property information with market context.

This move-in ready Monticello model condominium at the Hills at Crescent Springs features 1,326 sq ft of living space. It includes two bedrooms and two baths, with upgraded finishes throughout. The interior features luxury vinyl flooring in the main living areas and tile flooring in the laundry room. The upgraded kitchen is equipped with white cabinets, quartz countertops, a custom backsplash, an upgraded faucet, a spacious island, and stainless-steel appliances. The open concept living area is filled with natural light. The primary bedroom includes an ensuite bathroom and a spacious walk-in closet, while the second bedroom offers flexibility for guests or a home office. A screened patio door leads to a private outdoor space. Both bathrooms feature white cabinetry. There are three ceiling fans, one in each bedroom and one in the living room, and exterior doors with combination locks. Community amenities include ample parking, a pet-friendly area with a small dog park, and proximity to the pool, fitness center, and clubhouse. The property is located minutes from shopping, dining, parks, public transit, hospitals, and major highways.

Key Highlights

• Move‑in ready, nearly new (built in 2023) condo with 1,326 sq ft of living space.
• Upgraded kitchen featuring white cabinets, quartz countertops, custom backsplash, spacious island, and stainless‑steel appliances.**
• Prime location: Minutes from shopping, dining, parks, public transit, hospitals, and major highways.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,605

Cap Rate

4.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$212,100 $212.1K

Cap Rate 7%

$151,500 $151.5K

Cap Rate 9%

$117,833 $117.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,326 SF

Gross rent

$20.8K $15.72/SF

− Vacancy

−$1.6K −$1.18/SF

EGI

$19.3K $14.54/SF

− OpEx

−$8.7K −$6.54/SF

NOI

$10.6K $8.00/SF

Area

Kenton County, KY

Vacancy

7.50%

Lease Rate

$15.72 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$212,100

Cap Rate 7%

$151,500

Cap Rate 9%

$117,833

Alternative Uses

Best Use

Apartment 5plus

$151.5K

$132.6K – $176.8K (±1% cap)

NOI $10,605 @ 7.0% cap · market cap 4.47%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$342.3K

$299.5K – $399.4K (±1% cap)

NOI $23,962 @ 7.0% cap · market cap 10.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Location Intelligence

Trade Area within ½ mile

1,062

Businesses Nearby

Explore this area Business Placement

Demographics for 41017, KY

40,333

Population

16,569

Households

2.4

Avg Household Size

40

Median Age

48%

College-Educated

97%

High-School Grad

21.2 sq mi

ZIP Area

1,903

Density / Sq Mi

$100,645

Median Household Income

$51,808

Median Earnings

$985

Median Rent

$278,100

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Apartment building - Upgraded condo with modern amenities in a convenient location.

Where is this apartment building located?

The property is located at 2502 Elyria Court Crescent Springs, KY.

What is the asking price?

The asking price for this property is $237,000.

What are key features of this property?

This property features: Move‑in ready, nearly new (built in 2023) condo with 1,326 sq ft of living space.; Upgraded kitchen featuring white cabinets, quartz countertops, custom backsplash, spacious island, and stainless‑steel appliances.**; Prime location: Minutes from shopping, dining, parks, public transit, hospitals, and major highways.**