Brick Duplex with Renovation
For Sale
$225,000
322 East 17th Street, Covington, KY 41014
Two-unit brick property with one occupied apartment and a lower unit cleared for renovation.
Property Size1,680 SF
Price / SF$133.93
Days on Market63
Property Features for 322 East 17th Street
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Multi Family / Multi Family
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
Hot Water, Steam
Full
Yes
Refrigerator, Electric Range
No
Vinyl Clad Window(s), Insulated Windows
4
Inoperable
Shingle
Wrought Iron
Building Details
Buildings
1
Construction
brick
Listing Agency:
Keller Williams Advisors
(858) 776-7608
Listed By:
Suzanne Willard · License #252762
(858) 776-7608
Source:
Compass
Added: Jun 4
Changed: Aug 5
Last Checked: Aug 5 at 6:22AM
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 Keller Williams Advisors
Investment Insights
Based on property information with market context.
This 1,680-square-foot duplex is constructed of brick and includes two residential units. One apartment is occupied by a new tenant, while the lower apartment has been cleared and is positioned for renovation. The layout gives the next owner a choice of retaining the existing tenancy while improving the vacant unit, subject to applicable requirements.
The property is located at 322 East 17th Street in Covington, Kentucky, near Mainstrasse, downtown Covington, and downtown Cincinnati. Restaurants, entertainment, shopping, and major employers are accessible from the property, providing a convenient setting for residential occupancy. Interior features include insulated and vinyl-clad windows, a refrigerator, an electric range, and steam hot water. Exterior details include a shingle roof and wrought-iron elements.
The property is located at 322 East 17th Street in Covington, Kentucky, near Mainstrasse, downtown Covington, and downtown Cincinnati. Restaurants, entertainment, shopping, and major employers are accessible from the property, providing a convenient setting for residential occupancy. Interior features include insulated and vinyl-clad windows, a refrigerator, an electric range, and steam hot water. Exterior details include a shingle roof and wrought-iron elements.
Key Highlights
- 1,680‑square‑foot brick duplex
- One unit occupied by a new tenant
- Lower unit cleared and ready for renovation
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 | $23.2k | $13.80 |
| − Vacancy | −$1.7k | −$0.98 |
| EGI | $21.5k | $12.82 |
| − OpEx | −$6.5k | −$3.85 |
| NOI | $15.1k | $8.97 |
1,680 SF · lease $13.80/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$215.3K
$188.4K – $251.2K
NOI $15,073 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$191.9K
$168.0K – $223.9K
NOI $13,436 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$433.7K
$379.5K – $506.0K
NOI $30,359 @ 7.0% cap · market cap 13.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
516
Businesses Nearby
Explore this area
Business Placement
Demographics for 41014, KY
7,048
Population
3,521
Households
2
Avg Household Size
36
Median Age
28%
College-Educated
83%
High-School Grad
1.0 sq mi
ZIP Area
7,048
Density / Sq Mi
$56,148
Median Household Income
$41,972
Median Earnings
$979
Median Rent
$149,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit brick property with one occupied apartment and a lower unit cleared for renovation.
Where is this duplex located?
The property is located at 322 East 17th Street Covington, KY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,680‑square‑foot brick duplex; One unit occupied by a new tenant; Lower unit cleared and ready for renovation
