217 Wallace Avenue Covington KY 41014

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217 Wallace Avenue

Covington, KY 41014

Suburb: Covington

$274,900

2,730sqft

Under Contract

ATTENTION all investors! Incredible opportunity in the heart of Wallace Woods ! Currently used as a 3 unit but would make an amazing single family home with off street parking and a 1 car garage. Or, possibly remain 3 unit and raise rents to market. Long time tenants so rents are way below market. 1st and 2nd floor month to month, 3rd floor on 1 yr lease w/ approx 4 mos left.

Directions

eastern to wallace to 217

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Property Details

General Information

Property Type	MultiFamily
Style	Multi Family
Suburb	Covington
Zip Code	41014
School District	Covington Indep
MLS#	631175

Additional Information

Levels	Three Or More
Construction	Wood Siding
Lot Dimensions	50x84 approximate
Total Acres	0.1
Water	Public
Sewer	Public Sewer
Foundation	Stone
Semi-Annual Taxes

Property Features

Property SqFt.	2,730
Basement	Full
Cars	1
Parking	Garage, Off Street, On Street
Windows	Vinyl Frames
Heating	Forced Air, Natural Gas
Cooling	Central Air, Window Unit(s)
Fireplace	Decorative

Additional Features

Appliances	See Remarks

Multi-Family Information

Total Units	3

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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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