505 Wallace Ave, Covington, KY 41014
Room 1
Master Bath updated
OFF MARKET

$396,300

Trulia Estimate
as of Oct 14, 2026
  • 3 Beds
  • 2 Baths
  • 1,800 sqft

505 Wallace Ave, Covington, KY 41014

Home Highlights

Apartment
1,800 sqft
$220/sqft

Local Information

  • Map ViewExplore the area around 505 Wallace Ave.
  • Schools1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

About this House

What's unique:Updated appliancesFront porchOriginal hardwood floorsLots of closet spaceCompletely renovated master bathroom
Large Duplex Available, Dec move in.
Original hardwood floors.
Front porch.
In unit laundry off kitchen.
Updated appliances.
Updated light fixtures & kitchen sink (not pictured here)
Completely renovated master bathroom.
Nicest street in Covington.
On street parking.
Water/Electric & Gas not included.
Pet deposit and monthly payment.
Lots of closet space.
Close to downtown Covington, near Cincinnati.
Flexible move in date.

Water is $50.00 a month on top of rent. Tenant pays electric/gas through Duke.
505 Wallace Ave, Covington, KY 41014 is a 3 bedroom, 2 bathroom, 1,800 sqft apartment. It last sold for $342,000 on Jan 6, 2022 (19,443% above the $1,750 asking price). More recently, it was listed as a rental in November 2024 with an asking price of $1,750 per month. That rental listing was removed on November 23, 2024. This property is not currently displayed as for sale or rent on Trulia. The Trulia Estimate is $396,300, with a rent estimate of $1,942/month.

Home Details for 505 Wallace Ave

Property Information

Property Type / Style
Property Type: Apartment

Rental Terms, Policies & Fees

Lease Term: 1 YearAvailable: now

Interior Features

Appliances & Utilities
DishwasherDryerWasher
Heating & Cooling
Air ConditioningCooling System: Central Air
Levels, Entrance, & Accessibility
Floors: Hardwood

Comparable Sales for 505 Wallace Ave

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
42 Woodland Hills Dr #1, Southgate, KY
1.19
Apartment
$120,000
05/22/26
2
2
980 sqft
Address Not Disclosed, Covington, KY
1.39
Apartment
$285,000
06/01/26
1
2
1,456 sqft
52 Woodland Hills Dr #5, Southgate, KY
1.25
Apartment
$115,000
11/03/25
2
2
946 sqft
301 E 34th St, Covington, KY
0.92
Apartment
$25,000
02/02/26
2
1
1,150 sqft
421 E 16th St #23, Covington, KY
0.48
Apartment
$243,627
10/30/25
-
4,275 sqft
803-104 E 6th St, Newport, KY
1.92
Apartment
$230,000
01/09/26
2
2
1,126 sqft
224 E 7th St #226, Newport, KY
1.87
Apartment
$218,000
04/13/26
2
1
1,000 sqft
111 Winding Way, Covington, KY
2.18
Apartment
$196,000
08/03/26
2
2
911 sqft
353 W 4th St #209, Cincinnati, OH
2.57
Apartment
$299,900
08/07/26
2
2
1,066 sqft
332 Riverbend Dr, Ludlow, KY
2.86
Apartment
$395,000
03/27/26
2
2
2,023 sqft
Home facts updated by county records

Nearby homes

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Around this home

View nearby schools on GreatSchools
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

What Locals Say about Covington

This October

Trick-or-Treat Score

Built from what locals say about this neighborhood.
  • 88% say there are sidewalks
  • 66% say there's holiday spirit
  • 55% say neighbors are friendly
Trulia Trick or TreatStart Ghost Hunt
At least 422 Trulia users voted on each feature.

  • 88 % Say there are sidewalks

  • 87 % Say it's dog friendly

  • 73 % Say car is needed

  • 72 % Say yards are well-kept

  • 66 % Say there's holiday spirit

  • 65 % Say parking is easy

  • 63 % Say kids play outside

  • 58 % Say streets are well-lit

  • 55 % Say neighbors are friendly

  • 53 % Say it's walkable to restaurants

  • 52 % Say people would walk alone at night

  • 52 % Say there's wildlife

  • 50 % Say it's walkable to grocery stores

  • 48 % Say they plan to stay for at least 5 years

  • 37 % Say it's quiet

  • 35 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Khnf6nyf29
    "Dogs are walked, both on sidewalks and alley ways. Done barking dogs in neighborhood and a few coyotes. "
    0
    Flag
  • Drew Woll
    "Close to almost anything in the Cincinnati area. If commute is a top priority this is the cheapest location with the shortest commute. I work 30 mins up north in Springdale which is a 25 mile drive. In 30 mins I could probably make it down to Williamstown, KY. South of MLK Street can be a bit unsafe just fyi."
    0
    Flag
  • Reeds-fuzzier.0l
    "Nice area, very quiet, packages are safe outside.. however not a very minority friendly area. I've lived here for years, neighbors only began to speak/ look me in the face once they seen I had gotten a puppy. "
    0
    Flag
  • Keli Simpson
    "The schools are not the greatest. The sixth district school has been completely remodeled and has air conditioning. There is an FC sponsored soccer pitch close,"
    0
    Flag
  • Htibtani
    "I moved in Covington on year 2000 Started my business and purchase home raised my kids and I’m still here, I love my Covington."
    0
    Flag
  • Asiago Lattimore
    "Probably the traffic sometimes lack of green space. There’s only 1 dog park and it’s near the northern west part of the city. "
    2
    Flag
  • Trulia User
    "It’s safe to live in Kentucky. I enjoy that everything is around me and we have great parks to go to "
    2
    Flag
  • Leanna
    "There's a new dog park right across from Larry's -great vibe neighborhood bar with food! The small dog community is starting to form and it's fun to run into your community friends out and about."
    0
    Flag
  • Leanna
    "There's a new dog park that's becoming a great place to meet people and getting to know your neighbors."
    1
    Flag
  • Trulia User
    "Yes it is very important for them to know everything about it they will know everything about it yes "
    1
    Flag
  • Trulia User
    "I love Latonia I’ve lived here for 47 years Latonia is our home for my daughter and I We love the area I still run in to people I went to kindergarten with A lot is in walking distance "
    0
    Flag
  • Trulia User
    "My mom lives here I visit her very frequently it’s not the nicest place since it’s a low income place people take advantage "
    0
    Flag
  • Trulia User
    "Not much space for pets house are on hills, the streets are horrible and it’s a pain to get around in the winter season "
    2
    Flag
  • Tim
    "LOVE IT I don’t have a dog. We have a pet rabbit, but all that does is make all the neighborhood dogs be quite affectionate. I think at least 75% of residence own a dog. 90% have a pet of some type"
    0
    Flag
  • Marsha B.
    "We have the licking river historic community. Neighborly condo association., farmers market for the community. "
    0
    Flag
  • Kelsie L.
    "There is few grassy spots on walks and the yard space is pretty limited in most areas in town. Great dogs parks nearby as well as devou park for hikes. "
    0
    Flag
  • Jdt.714
    "Some areas are okay, many are sketchy. Not an area to walk alone at night. Petty crime is common. Many folks won’t clean up after their pets."
    22
    Flag
  • Dena H.
    "Oktoberfest Maifest Dog costume parade. There used to be a festival every month during the summer and fall "
    0
    Flag
  • Jmsmith1990
    "trustworthy group of individuals, left packages on our doorstep and none have disappeared. I have borrowed from neighbors and all have been very generous"
    0
    Flag
  • Orlando W.
    "The neighborhood is a dog friendly area and people are very friendly. I like the area for that reason as well. When my grand babies come over I feel safe with them playing out side."
    0
    Flag
  • Skloeker01
    "Schools are improving and there is a general sense of community that has developed strongly over the last 8 to 10 years."
    0
    Flag
  • Debra H.
    "there are 4 buses that I can take to get downtown so if I miss one there are 3 others I can take. it gets me where I need to go"
    6
    Flag
  • Alicia H.
    "Alot of events in the main Strauss area threw out the year. It's known as a German town. Food pubs year around. then festivals Mardi gras ect. It's a beautiful city. any day of the year just for a walk by the river for the view "
    12
    Flag
  • Aaron.henderson33
    "My neighborhood has a great community feel. It’s safe and convenient but still secluded enough to feel private"
    0
    Flag
  • Charles H.
    "All kinds of events put on by the Mainstrasse council during the holidays. Halloween costume contest and animal parades, tree lightings etc"
    0
    Flag
  • Donna
    "Street parties in main Strauss are always fun and family friendly. We’re also close to other towns who throw events. "
    1
    Flag
  • Shelli.rowland
    "I’ve lived here for 10 yrs. we live in the oldest settlement in Covington. The neighbors are kind and we have a great walking neighborhood. "
    15
    Flag
  • TJ
    "It’s been very enjoyable. The neighborhood is quiet and the area is well kept. I have been here for a year and so far so good."
    12
    Flag
  • Lacie H.
    "It’s home to me! I’ve grown up here. The community sticks together, we are one big family. I’m safe here. Positive out-ways the negative."
    2
    Flag
  • Jessezetko
    "great access to TANK services, bus stop around every corner. Uber and Lyft is everywhere for people who can't or don't drive. Not any bad traffic besides when there are crashes on Madison."
    6
    Flag
  • Dan M.
    "A quick and easy access to 75, 71, 74, and 275. The perfect in between location! Downtown is only an 8 minute drive. Uber and Lyft rides downtown are on average about $12. "
    0
    Flag
  • Rob B.
    "There are lots of families moving into the city and the parks and restaurants are wonderful. The city is actively working to improve life for the city’s residents. "
    0
    Flag
  • Daisy W.
    "German heritage, gentrification, goetta fest, may fest, Madison theater, garden tours, biking and walking to work!"
    0
    Flag

LGBTQ Local Legal Protections

Price and Tax history

DateEventPrice
Nov 23, 2024
Source: Zillow Rentals
ListingRemoved
$1,750
Nov 11, 2024
Source: Zillow Rentals
Listed For Rent
$1,750
Jan 29, 2024
Source: Zillow Rentals
ListingRemoved
Dec 18, 2023
Source: Zillow Rentals
PriceChange
$1,750
Price decreased by 3%
Nov 28, 2023
Source: Zillow Rentals
Listed For Rent
$1,800

Frequently asked questions about 505 Wallace Ave

  • What is 505 Wallace Ave estimated to be worth?
    Trulia's estimated value for 505 Wallace Ave in Covington, KY is $396,300.
  • What is the price history for 505 Wallace Ave?
    505 Wallace Ave in Covington, KY last sold for $342,000 in January 2022.
  • Is Covington a buyer's or seller's market?
    Covington is currently a buyer's market, based on recent for-sale activity.
  • What's the median sale price in Covington?
    The median sale price in Covington is $227K. That is down $3.4K from the prior month.
  • Does 505 Wallace Ave have air conditioning?
    Yes, 505 Wallace Ave in Covington, KY has air conditioning.
  • Does 505 Wallace Ave have laundry facilities?
    Yes, 505 Wallace Ave in Covington, KY has in-unit laundry.

Homes for rent near 505 Wallace Ave

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Affordability

TIP:Try to keep your rent within a third of your gross household income. Learn why in our Renter's Guide.
For this property
PER YEAR
is the suggested income
Win over prospective landlords with your smart budgeting. As a good rule of thumb, ideally you would have at least three times your monthly rent in combined household income.
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