Listing Agency: Huff Realty - Ft. Mitchell p***@huff.com Show Phone

Listed By: Patrick Henschen · License #274534 Show Phone

Source: Exprealty

Added: Jun 26 Changed: Aug 29 Last Checked: Aug 29 at 6:18PM

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Investment Insights

Based on property information with market context.

This 1,848-square-foot duplex contains two residential units, each arranged across two stories with two bedrooms, one full bathroom, and a private basement. Separate utility services support distinct operation of the units, while both residences are described as move-in ready. The property also includes a yard and off-street parking.

Located at 3 Ryle Rd in Elsmere, Kentucky, the duplex is near shopping, dining, and major highways. Its two-unit configuration provides flexibility for an owner occupant or an investor seeking a multifamily property with separate utilities and individual basement space.

Key Highlights

• 1,848‑square‑foot duplex with two residential units
• Each unit has 2 bedrooms, 1 full bathroom, two stories, and a private basement
• Separate utilities serve the two units

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$16,581

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

6.03%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$331,620 $331.6K

Cap Rate 7%

$236,871 $236.9K

Cap Rate 9%

$184,233 $184.2K

Market Conditions

NOI Build-Up for 1,848 SF 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.

Gross rent

$25.5K $13.80/SF

− Vacancy

−$1.8K −$0.98/SF

EGI

$23.7K $12.82/SF

− OpEx

−$7.1K −$3.85/SF

NOI

$16.6K $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 rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$331,620

Cap Rate 7%

$236,871

Cap Rate 9%

$184,233

Alternative Uses

Best Use

Multifamily LT 5

$236.9K

$207.3K – $276.4K (±1% cap)

NOI $16,581 @ 7.0% cap · market cap 6.03%

Second Best

Apartment 5plus

$211.1K

$184.7K – $246.3K (±1% cap)

NOI $14,779 @ 7.0% cap · market cap 5.37%

Theoretical Best

Office A

$477.1K

$417.4K – $556.6K (±1% cap)

NOI $33,395 @ 7.0% cap · market cap 12.14%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Big Box & Wholesale Store Law Firm Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

299

Businesses Nearby

Explore this area Business Placement

Demographics for 41018, KY

29,305

Population

11,926

Households

2.5

Avg Household Size

36

Median Age

28%

College-Educated

91%

High-School Grad

11.6 sq mi

ZIP Area

2,526

Density / Sq Mi

$70,267

Median Household Income

$40,537

Median Earnings

$1,044

Median Rent

$173,700

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-story units feature separate utilities, private basements, and off-street parking.

Where is this duplex located?

The property is located at 3 Ryle Rd Elsmere, KY.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: 1,848‑square‑foot duplex with two residential units; Each unit has 2 bedrooms, 1 full bathroom, two stories, and a private basement; Separate utilities serve the two units