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For sale by owner
  • $475,000

    121 E Martin Luther King Jr Blvd, Covington, KY 41011

    5beds
    2,136sqft
    : 
    $3,206/mo
    Get pre-qualified
    MultiFamily
    Built in 1900
    -- sqft lot
    $200,000 Zestimate®
    $222/sqft
    $-- HOA

    What's special

    New fencingUpdated electrical and plumbingFully renovatedTwo spacious unitsFully furnished duplexFully rebuilt bathroomsStainless appliances
    Fully renovated, fully furnished duplex PLUS a second attached lot — currently earning $48,700/year as a proven mid-term Airbnb and furnished rental, steps from downtown Covington and one mile from downtown Cincinnati. Live in one unit while the other pays your mortgage, or step into a turnkey rental business on day one. Potential for additional income with short term dynamic pricing strategy. Renovated top to bottom in 2024 (~$120K scope): new kitchens with granite counters, custom cabinets, and stainless appliances; fully rebuilt bathrooms; luxury vinyl plank throughout; new lighting, ceiling fans, and A/C condensers; updated electrical and plumbing; fresh paint inside and out; new fencing and landscaping. Two spacious units — a 2BR/1BA (~1,033 sq ft) and a 3BR/1BA (~1,103 sq ft), 2,136 sq ft total — each with in-unit laundry and dishwasher, and utilities separately metered by unit, giving the next owner full flexibility on lease structure. All furniture to convey with sale. Both units run as active Airbnbs with 4.8+ star ratings, and the seller offers a co-host transition so you inherit live listings and reviews — no starting from zero. Current occupancy works in the buyer's favor: Unit 1 is leased through December 2026 (income in place at closing) and Unit 2 is available at the end of July — move in yourself or set your own rents immediately. The property sits on a surveyed, consolidated double parcel totaling 4,450 sq ft (44.5' x 100'). Can be subdivided and sold to a developer, finished to add off-street parking, patio, or additional outdoor space for guests. Walk Score 78. Steps to Covington's restaurants, minutes to Main Strasse Village, one bridge to downtown Cincinnati jobs, 15 minutes to CVG. Please do not disturb tenants — all showings by appointment with advance notice. Full diligence package available: financials, renovation scope, recorded survey, and rental history. Disclosures: Property built circa 1900 — lead-based paint may be present; federal lead-based paint disclosure provided and buyer will receive the EPA pamphlet and opportunity for inspection per federal law. Sold fully furnished via bill of sale. Short-term rental operation subject to City of Covington licensing, which does not transfer — buyer to verify licensing, zoning, permitted uses, and all square footage. Income figures are historical and not a guarantee of future performance. Seller is a principal of the owner entity. Property is not in a FEMA special flood hazard area. Equal Housing Opportunity.
    4 days
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    384
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    21
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    Listed by:

    Property Owner (513) 341-5066

    This property is for sale by owner and Zillow, Inc. is displaying it at the owner's request. It is not subject to a listing agreement with Zillow, Inc. or its affiliates.

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 5
      • Bathrooms: 2
      • Full bathrooms: 2
      Heating
      • Forced air, Gas
      Cooling
      • Central
      Appliances
      • Included: Dishwasher, Dryer, Freezer, Garbage disposal, Microwave, Range / Oven, Refrigerator, Washer
      Features
      • Flooring: Linoleum / Vinyl
      • Basement: Unfinished
      Interior area
      • Total interior livable area: 2,136 sqft

      Property

      Parking
      • Parking features: None
      Features
      • Exterior features: Brick
      Lot
      • Size: 4,450 Square Feet
      Details
      • Parcel number: 054241800800

      Construction

      Type & style
      • Home type: MultiFamily
      Materials
      • brick
      • Foundation: Stone
      • Roof: Composition
      Condition
      • New construction: No
      • Year built: 1900

      Community & HOA

      Location
      • Region: Covington

      Financial & listing details

      • Price per square foot: $222/sqft
      • Tax assessed value: $63,000
      • Annual tax amount: $828
      • Date on market: 7/22/2026

        Estimated market value

        $200,000

        $152,000 - $250,000

        $1,421/mo

        Price history

        DateEventPrice
        7/22/2026Listed for sale$475,000+870.4%$222/sqft
        Source: Owner Report a problem
        6/7/2021Sold$48,950-0.1%$23/sqft
        Source: Public Record Report a problem
        5/4/2021Pending sale$49,000+83.5%$23/sqft
        Source: NKMLS #547696 Report a problem
        2/3/2020Sold$26,700-25.5%$13/sqft
        Source: Public Record Report a problem
        10/19/2004Sold$35,851-4.4%$17/sqft
        Source: Public Record Report a problem
        8/30/2001Sold$37,500$18/sqft
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2024$828 -1.3%$63,000
        2023$839 +0.8%$63,000
        2022$832 -0.8%$63,000 +14.5%
        2021$839 -39.8%$55,000
        2020$1,395 $55,000
        2019$1,395 +51.5%$55,000
        2018$920 $55,000
        2017$920 -25.5%$55,000
        2015$1,236 $55,000
        2014$1,236 +13.1%$55,000
        2013$1,093 $55,000
        2012-- $55,000
        2011-- $55,000
        2010-- $55,000
        2009-- $55,000
        2008-- $55,000
        2007-- $55,000
        2006-- $55,000
        2005-- $55,000
        2004-- $55,000
        2003-- $55,000
        2002-- $55,000 +83.3%
        2001-- $30,000
        2000-- $30,000
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

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        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: 41011

        Getting around

        78 / 100
        Very Walkable
        40 / 100
        Some Transit
        69 / 100
        Bikeable

        Nearby schools

        GreatSchools rating

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