Two-Unit Duplex
For Sale
$149,000
413 Berry Ave, Bellevue, KY 41073
Two separate residences offer a flexible layout for renovation or owner-occupancy.
Property Size1,600 SF
Price / SF$93.13
Days on Market8
Property Features for 413 Berry Ave
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Listing Agency:
exp Realty, LLC
(859) 534-9565
Listed By:
Kamryn Hamilton
(859) 907-7026
Source:
Exprealty
Added: Sep 1
Changed: Sep 7
Last Checked: Sep 7 at 2:34PM
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 exp Realty, LLC
Investment Insights
Based on property information with market context.
This 1,600-square-foot duplex contains two separately arranged units, each with one bedroom and one bathroom. The property is being sold as-is and requires renovation, offering a straightforward opportunity to rework the existing residential layout.
Located in Bellevue, the property provides access to local dining, shopping, and entertainment, with Downtown Cincinnati also accessible from the area. The two-unit configuration supports a range of residential ownership and leasing arrangements, subject to applicable requirements.
Located in Bellevue, the property provides access to local dining, shopping, and entertainment, with Downtown Cincinnati also accessible from the area. The two-unit configuration supports a range of residential ownership and leasing arrangements, subject to applicable requirements.
Key Highlights
- Two separate residential units
- Each unit includes 1 bedroom and 1 bathroom
- 1,600 square feet of property size
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
$13,290
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
8.92%
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%
$265,800
$265.8K
Cap Rate 7%
$189,857
$189.9K
Cap Rate 9%
$147,667
$147.7K
Market Conditions
NOI Build-Up for 1,600 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
$26.5K $16.56/SF
− Vacancy
−$2.3K −$1.46/SF
EGI
$24.2K $15.10/SF
− OpEx
−$10.9K −$6.80/SF
NOI
$13.3K $8.31/SF
Area
Campbell County, KY
Vacancy
8.80%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
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%
$265,800
Cap Rate 7%
$189,857
Cap Rate 9%
$147,667
Alternative Uses
Best Use
Multifamily LT 5
$205.9K
$180.1K – $240.2K
NOI $14,410 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$189.9K
$166.1K – $221.5K
NOI $13,290 @ 7.0% cap · market cap 8.92%
Theoretical Best
Office A
$438.9K
$384.0K – $512.0K
NOI $30,720 @ 7.0% cap · market cap 20.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,008
Businesses Nearby
Explore this area
Business Placement
Demographics for 41073, KY
5,548
Population
2,915
Households
1.9
Avg Household Size
39
Median Age
43%
College-Educated
95%
High-School Grad
0.9 sq mi
ZIP Area
6,164
Density / Sq Mi
$67,143
Median Household Income
$48,250
Median Earnings
$1,124
Median Rent
$186,200
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 separate residences offer a flexible layout for renovation or owner-occupancy.
Where is this duplex located?
The property is located at 413 Berry Ave Bellevue, KY.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: Two separate residential units; Each unit includes 1 bedroom and 1 bathroom; 1,600 square feet of property size
