920 Washington Avenue 918 Newport KY 41071

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920 Washington Avenue 918

Newport, KY 41071

Suburb: Newport

$1,295,000

7,903sqft

Under Contract

15 unit apartment building in the Historic District of Newport that has been completely renovated three years ago. Plumbing, electric, HVAC and roof are all updated. Property stays rented over 95 percent occupancy annually. Every unit has tiled showers, new kitchens and appliances. There is coin laundry in the common area. There is a parking lot behind the building for 15 vehicles. The property is very easy to rent with low turnover and still has years of low maintenance and cap X due to the recent renovation. Before showing the property, buyers must send a LOI based off the T12 and rent roll. Property is fully occupied. 48 hour notice for showings.

Directions

East 10th to Washington

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Property Details

General Information

Property Type	MultiFamily
Style	Multi Family
Suburb	Newport
Zip Code	41071
School District	Newport Indep
MLS#	630820

Additional Information

Levels	Three Or More
Construction	Brick
Lot Dimensions	60x188
Total Acres	0.2
Water	Public
Sewer	Public Sewer
Foundation	Block
Semi-Annual Taxes

Property Features

Property SqFt.	7,903
Basement	Full
Cars	0
Parking	Parking Lot
Windows	Vinyl Frames, Wood Frames, Insulated Windows
Heating	Electric, Forced Air, Natural Gas
Cooling	Central Air
Fireplace	Brick, Inoperable

Additional Features

Appliances	Dishwasher, Microwave, Refrigerator, Gas Oven

Multi-Family Information

Total Units	15

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You can calculate the mortgage loan amount from the price of the real estate by providing the down payment percentage.

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Points, Annual Property Taxes, Annual Insurance and Private Mortgage Ins. (PMI) are all optional. If you enter values, the periodic portion of each will be calculated and shown on the schedule. Property taxes and insurance are combined under escrow.

If a borrower does not have cash to cover at least 20% of the purchase price, some lenders will require the borrower to purchase private mortgage insurance (PMI) to cover against a possible default. Premiums are typically 0.5% to 2.0% of the original loan amount. The borrower can drop the insurance coverage once the mortgage balance is less than 80% of the original purchase price. The calculator handles this automatically. (There may be other conditions as well under which the lender will no longer require PMI. One such case might be apprciation of the real estate.)

Points are charges that are normally due at closing. Borrowers (normally only in USA) may select to pay a lender "points" up front in exchange for a lower interest rate. Points are expressed in percent and are calculated on the amount borrowed. 3 points on a $200,000 mortgage equals $6,000. If the user enters points, this calculator includes their value in the summary and as part of the total payment at loan origination on the payment schedule.

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Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://AccurateCalculators.com/mortgage-calculator

The data relating to the real estate for sale on this web site comes in part from the Broker Reciprocity program of the Northern Kentucky Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than Comey & Shepherd Realtors are marked with the Broker Reciprocity logo or Broker Reciprocity house icon. The properties displayed may not be all the properties available through Broker Reciprocity.

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