3-Unit
New
For Sale
$285,000
4012 Decoursey Avenue, Covington, KY 41015
Two residences are rented, while the third is vacant and requires renovation.
Property Size2,928 SF
Price / SF$97.34
Days on Market4
Property Features for 4012 Decoursey Avenue
General Information
Standard status
Active
Size
2,928 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Listing Agency:
Blue Chicken Realty
Listed By:
Elizabeth Rossi
(859) 308-0858
Source:
Exprealty
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 30 at 2:14PM
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 Blue Chicken Realty
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Investment Insights
Based on property information with market context.
The 2,928-square-foot triplex at 4012 Decoursey Avenue in Covington, Kentucky, contains three units. Two are currently rented; the remaining unit is vacant and needs renovation.
Key Highlights
- Three units in a 2,928‑square‑foot building
- Two units currently rented
- Third unit is vacant and requires renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,417
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,340
$468.3K
Cap Rate 7%
$334,529
$334.5K
Cap Rate 9%
$260,189
$260.2K
Market Conditions
NOI Build-Up for 2,928 SF
Gross rent
$46.0K $15.72/SF
− Vacancy
−$3.5K −$1.18/SF
EGI
$42.6K $14.54/SF
− OpEx
−$19.2K −$6.54/SF
NOI
$23.4K $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%
$468,340
Cap Rate 7%
$334,529
Cap Rate 9%
$260,189
Alternative Uses
Best Use
Multifamily LT 5
$375.3K
$328.4K – $437.9K
NOI $26,271 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$334.5K
$292.7K – $390.3K
NOI $23,417 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$755.9K
$661.4K – $881.9K
NOI $52,912 @ 7.0% cap · market cap 18.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
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Business Placement
Demographics for 41015, KY
21,599
Population
9,135
Households
2.4
Avg Household Size
39
Median Age
30%
College-Educated
90%
High-School Grad
25.4 sq mi
ZIP Area
850
Density / Sq Mi
$63,783
Median Household Income
$44,740
Median Earnings
$857
Median Rent
$176,500
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?
Triplex - Two residences are rented, while the third is vacant and requires renovation.
Where is this triplex located?
The property is located at 4012 Decoursey Avenue Covington, KY.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Three units in a 2,928‑square‑foot building; Two units currently rented; Third unit is vacant and requires renovation
