Duplex With Off-Street
For Sale
$240,000
4326 Decoursey Ave, Covington, KY 41015
Two-unit property includes one occupied unit and a second unit requiring updates.
Property Size2,552 SF
Price / SF$94.04
Days on Market17
Property Features for 4326 Decoursey Ave
General Information
Standard status
Active
Size
2,552 SF
Property subtype
Residential Income
Listing Agency:
ERA Real Solutions Realty
(859) 250-8587
Listed By:
Katherine Crawford
(859) 250-8587
Source:
Exprealty
Added: Aug 5
Changed: Aug 21
Last Checked: Aug 21 at 11:46AM
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 ERA Real Solutions Realty
Investment Insights
Based on property information with market context.
This 2,552-square-foot duplex includes two residential units, with one currently occupied and the other positioned for renovation, occupancy, or leasing. The first-floor unit has hardwood flooring and an updated kitchen. The upper unit requires flooring and kitchen improvements, allowing the next owner to customize its finish level.
Off-street parking is located behind the building, with additional on-street parking available for guests. The property is located at 4326 Decoursey Ave in Covington, KY.
Off-street parking is located behind the building, with additional on-street parking available for guests. The property is located at 4326 Decoursey Ave in Covington, KY.
Key Highlights
- 2,552 SF duplex with two residential units
- One unit is currently occupied
- First‑floor unit includes hardwood floors and an updated kitchen
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
$20,410
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
8.50%
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%
$408,200
$408.2K
Cap Rate 7%
$291,571
$291.6K
Cap Rate 9%
$226,778
$226.8K
Market Conditions
NOI Build-Up for 2,552 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
$40.1K $15.72/SF
− Vacancy
−$3.0K −$1.18/SF
EGI
$37.1K $14.54/SF
− OpEx
−$16.7K −$6.54/SF
NOI
$20.4K $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 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%
$408,200
Cap Rate 7%
$291,571
Cap Rate 9%
$226,778
Alternative Uses
Best Use
Multifamily LT 5
$327.1K
$286.2K – $381.6K
NOI $22,897 @ 7.0% cap · market cap 9.54%
Second Best
Apartment 5plus
$291.6K
$255.1K – $340.2K
NOI $20,410 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$658.8K
$576.5K – $768.6K
NOI $46,117 @ 7.0% cap · market cap 19.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
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
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 property includes one occupied unit and a second unit requiring updates.
Where is this duplex located?
The property is located at 4326 Decoursey Ave Covington, KY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 2,552 SF duplex with two residential units; One unit is currently occupied; First‑floor unit includes hardwood floors and an updated kitchen
