Building Details

Buildings 1

Listing Agency: Keller Williams Realty Service m***@kw.com Show Phone

Listed By: Katie Robbins Show Phone

Source: Exprealty

Added: Oct 8 Changed: Oct 16 Last Checked: Oct 16 at 1:59PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 1,466-square-foot duplex contains two apartments, each with two bedrooms and one bathroom. One has no-step access. Both units have been freshly painted, have updated flooring, and include appliances with a washer and dryer. A new roof has been installed, and the property has prior foundation repair covered by a transferable lifetime warranty.

Both apartments are vacant, allowing a new owner to occupy one and lease the other, or rent both. Each unit has its own off-street parking space.

Key Highlights

• Two 2‑bedroom, 1‑bath units; 1,466 square feet total
• No‑step entry at one apartment
• Off‑street parking for each unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,153

Cap Rate

5.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$263,060 $263.1K

Cap Rate 7%

$187,900 $187.9K

Cap Rate 9%

$146,144 $146.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,466 SF

Gross rent

$20.2K $13.80/SF

− Vacancy

−$1.4K −$0.98/SF

EGI

$18.8K $12.82/SF

− OpEx

−$5.6K −$3.85/SF

NOI

$13.2K $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%

$263,060

Cap Rate 7%

$187,900

Cap Rate 9%

$146,144

Alternative Uses

Best Use

Multifamily LT 5

$187.9K

$164.4K – $219.2K (±1% cap)

NOI $13,153 @ 7.0% cap · market cap 5.06%

Second Best

Apartment 5plus

$167.5K

$146.6K – $195.4K (±1% cap)

NOI $11,724 @ 7.0% cap · market cap 4.51%

Theoretical Best

Office A

$378.5K

$331.2K – $441.5K (±1% cap)

NOI $26,492 @ 7.0% cap · market cap 10.19%

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

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Pharmacy Parking Lot & Garage Storage Facility (Bike/Boat/Book/etc) Store Tech Support Center

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

Location Intelligence

Trade Area within ½ mile

180

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

Frequently Asked Questions

What type of property is this?

Duplex - Two vacant apartments offer separate parking and a choice of owner occupancy or rental use.

Where is this duplex located?

The property is located at 301 Eastern Ave Elsmere, KY.

What is the asking price?

The asking price for this property is $260,000.

What are key features of this property?

This property features: Two 2‑bedroom, 1‑bath units; 1,466 square feet total; No‑step entry at one apartment; Off‑street parking for each unit