318-320 Lafayette Ave #318 · Bellevue, KY 41073

$259,900

3 bd · 1.5 ba · 1,167 sqft · MultiFamily · 1 Days on market

Good condition 2,788 sqft lot Est $250k · at est.

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.7/15.0
• Livability +4.6/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Turnkey investment property with hard to beat location walkable to all Bellevue has to offer. This duplex features 2 identical side by side units with 3 bed 1.5 baths and in unit laundry. Ready for owner occupied investor or seasoned investor looking to add to their portfolio with separate tenant paid utilities. The property is well maintained and professionally managed. Unit 320 (Left) is vacant with recent cosmetic updates. Unit 318 (Right) is currently occupied on a month to month lease $1095 and needs cosmetic updating to it. Agent/Owner

Key facts

• In unit laundry
• Well maintained
• 2,788 sq ft lot

Tags

• HARD TO BEAT LOCATION
• WALKABLE TO ALL BELLEVUE
• IN UNIT LAUNDRY
• SEPARATE TENANT PAID UTILITIES
• WELL MAINTAINED
• PROFESSIONALLY MANAGED

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Duplex (multi-family); Two levels; Existing structure
• Construction: Vinyl siding; Wood siding; Stone foundation
• Exterior features: Vinyl-framed windows; Metal and shingle roof; Lot dimensions approximately 40 x 70

Interior

• Kitchen: Gas range; Gas oven; Dishwasher; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: In-unit laundry; Partial basement
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath multifamily listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $260k).
• Cap rate 16.4% vs local median 4.5% in Bellevue — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 92/100 on livability (#8 in KY, #24 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Bellevue Independent (suburban): math 17% / reading 33% proficiency, ranked #136 of 165 in KY (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grandview Elementary School (math 8% / reading 32%, grade F, #568 of 676 statewide, top 84%, 277 students, 65% FRL); Bellevue High School (math 22% / reading 32%, grade F, #158 of 254 statewide, top 68%, 362 students, 61% FRL).
• Market conditions: Rents flat; 49 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 247 units permitted in Campbell County in 2024 (77 in 5+ unit buildings).
• At $5,041/mo this rent would consume 85% of the median local household income ($71k/yr) (locally 173% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $73k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $259,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
3. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
4. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.94% ✓
• Cap rate: 16.39%
• Cash-on-cash: 36.05%
• DSCR: 2.60
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $249,738
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
612 Vine St	0.63mi	2/2.0 (-1)	1,052 (-10%)	21mo	$225,000	$214	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.19% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 2.15×
• Total profit: $83,343
• Equity at exit: $38,752

10-year hold

• IRR: 34.3%
• Equity multiple: 3.73×
• Total profit: $198,405
• Equity at exit: $22,471

Cash invested: $72,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kentucky: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit (URLTA cities); generally landlord-friendly.

Methodology + full state rankings →

ZIP-level market 41073

• Rents YoY: 0.2%
• Active inventory: 49
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $5,041 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,059
• Net cashflow: $2,186

Break-even live

Break-even rent $2,274

Max offer price $259,900

Occupancy floor 52%

Sensitivity live

Price	-10% $2,366	-5% $2,276	+0% $2,186	+5% $2,096	+10% $2,007
Rent	-10% $1,788	-5% $1,987	+0% $2,186	+5% $2,385	+10% $2,585
Rate	-1.0pp $2,317	-0.5pp $2,252	base $2,186	+0.5pp $2,119	+1.0pp $2,050

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$5,042
Total (2 units)			$5,041

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
324 Fairfield Ave Unit 4 Bellevue, KY	2.0	1.0	1095	$1,545	$1.41	22d	1	0.21mi
324 Fairfield Ave Unit 1 Bellevue, KY	2.0	1.0	1080	$1,685	$1.56	3d	1	0.21mi
239 Grandview Ave Bellevue, KY	2.0	2.0	1093	$1,645	$1.50	5d	2	0.25mi
236 Ward Ave Bellevue, KY	3.0	2.0	1500	$2,585	$1.72	12d	1	0.30mi
1243 Martin Dr Unit 1056135P Cincinnati, OH	2.0	1.0	1184	$3,099	$2.62	2d	1	0.70mi
100 Aqua Way Newport, KY	1.0–3.0	1.0–2.0	1092	$3,850	$3.53	2d	4	0.78mi
1137 Fuller St Unit 1056121P Cincinnati, OH	1.0–2.0	1.0	1135	$3,653	$3.22	2d	2	0.82mi
1055 St Paul Pl Cincinnati, OH	3.0	1.0–2.0	975	$2,995	$3.07	2d	10	0.92mi
814 Washington Ave Unit 2 Newport, KY	2.0	2.0	1450	$1,500	$1.03	24d	1	0.92mi
929 Boone St Newport, KY	2.0	2.0	1458	$1,495	$1.03	44d	1	0.92mi
601 E Pete Rose Way Cincinnati, OH	3.0	1.0–2.5	1039	$2,936	$2.83	2d	22	0.97mi
427 Oregon St Cincinnati, OH	1.0–2.0	1.0	980	$2,800	$2.86	2d	4	1.04mi
621 E Mehring Way Cincinnati, OH	1.0–2.0	1.0–2.0	938	$2,249	$2.40	2d	12	1.08mi
1044 Washington Ave #2 Newport, KY	2.0	2.0	1250	$1,800	$1.44	44d	1	1.09mi
2015 Edgecliff Pt Unit 4 Cincinnati, OH	2.0	2.0	1200	$1,595	$1.33	5d	1	1.16mi
2118 Saint James Ave Cincinnati, OH	2.0	1.0	1005	$1,650	$1.64	24d	1	1.16mi
911 Putnam St #2 Newport, KY	2.0	1.0	1000	$1,600	$1.60	22d	1	1.21mi
210 W 5th St Newport, KY	1.0–2.0	1.0–2.0	845	$1,800	$2.13	3d	15	1.24mi
203 W 8th St Newport, KY	2.0	1.5	1456	$2,300	$1.58	22d	1	1.30mi
128 W 9th St Newport, KY	2.0	1.0	1012	$1,650	$1.63	2d	1	1.30mi
2132 Gilbert Ave Unit A Cincinnati, OH	2.0	2.5	1450	$2,250	$1.55	5d	1	1.30mi
345 E 7th St Cincinnati, OH	2.0	1.0–2.0	1184	$4,300	$3.63	4d	18	1.31mi
509 E 12th St Cincinnati, OH	1.0–2.0	1.0	796	$1,200	$1.51	5d	1	1.34mi
509 E 12th St Cincinnati, OH	2.0	1.0	1000	$1,200	$1.20	15d	2	1.34mi
960 Francisco St Unit 107 Cincinnati, OH	2.0	2.0	912	$1,649	$1.81	24d	1	1.34mi
309 Sycamore St #201 Cincinnati, OH	2.0	2.0	850	$1,600	$1.88	24d	1	1.35mi
634 Sycamore St Cincinnati, OH	2.0	1.0–1.5	1261	$2,615	$2.07	5d	9	1.37mi
1 E 4th St Unit 1404477P Cincinnati, OH	2.0	1.0	618	$3,476	$5.62	22d	2	1.41mi
1065 Manhattan Blvd Dayton, KY	1.0–3.0	1.0–2.0	1038	$2,749	$2.65	2d	19	1.43mi
2330 Victory Pkwy Cincinnati, OH	1.0–2.0	1.0–2.0	693	$1,999	$2.88	3d	6	1.43mi
224 E 8th St Cincinnati, OH	1.0–2.0	1.0–2.0	1200	$2,462	$2.05	2d	5	1.44mi
1304 Broadway Unit 1056130P Cincinnati, OH	1.0–5.0	1.0–4.0	2072	$5,808	$2.80	11d	2	1.46mi
2401 Salutaris Ave Cincinnati, OH	1.0–2.0	1.0	800	$1,300	$1.62	24d	1	1.47mi
1118 Sycamore St Cincinnati, OH	2.0	1.0–2.0	891	$3,194	$3.58	3d	22	1.49mi
830 Main St Cincinnati, OH	2.0	1.0–2.0	756	$1,895	$2.50	5d	6	1.49mi
1326 Broadway Unit 1324946P Cincinnati, OH	1.0–3.0	1.0–3.0	1162	$10,683	$9.19	24d	2	1.49mi
721 Main St Cincinnati, OH	2.0	1.0–2.0	991	$3,205	$3.23	2d	15	1.49mi
424 Liberty Hl Unit 1056033P Cincinnati, OH	3.0	2.0	1453	$5,780	$3.98	2d	1	1.50mi

Listing history 2 events

1. 2026-06-18
   remarks 547-char remark
2. 2026-06-18
   listed $259,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,492
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$4,839
• − Management: −$4,839
• − Depreciation: −$7,561
• Taxable income: $23,496
• Est. tax owed @ 24.0%: −$5,639
• After-tax cash flow: $20,596/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, turnkey multi-family property in a desirable location offers a good investment opportunity with minimal updates needed.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace carpet in living room — Fresh carpet improves aesthetics and rental appeal
• Both Install smart home devices — Enhances convenience and rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace carpet in living room — Fresh carpet improves aesthetics and rental appeal ↑
• Both Install smart home devices — Enhances convenience and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bellevue Independent
• NCES district ID: 2100420
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $51,374
• Composite: 22.13/100
• National rank: #8173
• State rank: #136 of 165 in KY

Livability — Bellevue

• Score: 92/100
• State rank: #8
• US rank: #24

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime A+ Employment B+ Housing A+ Health & safety B User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellevue, KY
• County: Campbell County · 84,793 people
• City population: 5,636
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 5,636
• Household income: $71,166
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 173.0

Population outlook (Campbell County) Hauer SSP2

• Today (2025): 95,668 people
• By 2030: 96,886 · +1.3%
• By 2040: 97,734 · +2.2%
• By 2050: 96,413 · +0.8%
• By 2075: 90,211 · -5.7%
• By 2100: 79,434 · -17.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 3% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 2%

Political lean MEDSL · Campbell

• 2024 margin: R (+19.7) · D 39.2% · R 58.9% · Other 1.9%
• 2008→2024 swing: +1.2pp toward D · 2008: -20.9pp · 2024: -19.7pp
• All cycles: 2024: R+19.7 2020: R+18.6 2016: R+24.5 2012: R+22.8 2008: R+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -186.80%
• Current HPI: 252.0078
• Rent YoY: ▲ 0.19%
• Metro: Cincinnati, OH-KY-IN
• State GDP YoY: ▲ 1.81%
• F500 in state: 4

Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B

Price history

1 event — show timeline

• 2026-06-17 Listed $259,900 NKMLS