509 Wallace Ave
Covington, KY 41014
- 3 Beds
- 2.5 Baths
- 2,206 sqft
3 Beds
2.5 Baths
2,206 sqft
Local Information
© Google
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Description
Great 2 unit all brick building with long term tenants on 1 year leases at $1300 each. Property generates $2600 per month in rental income, tenants pay gas & electric, owner pays water/sewer. Both units were updated about 15 years ago and retain great historic charm as well. Property has fenced in backyard with covered porch. Great opportunity and location!
This property is off market, which means it's not currently listed for sale or rent on Trulia. This may be different from what's available on other websites or public sources. This description is from March 17, 2025
Home Highlights
Parking
Open Parking
Outdoor
Porch, Patio
A/C
Heating & Cooling
HOA
None
Price/Sqft
No Info
Listed
180+ days ago
Home Details for 509 Wallace Ave
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Interior Details Basement: Full |
Beds & Baths Number of Bedrooms: 3Number of Bathrooms: 3Number of Bathrooms (full): 2Number of Bathrooms (half): 1 |
Dimensions and Layout Living Area: 2206 Square Feet |
Appliances & Utilities Appliances: Stainless Steel Appliance(s), Gas Oven, Dishwasher, Dryer, Refrigerator, WasherDishwasherDryerLaundry: In BasementRefrigeratorWasher |
Heating & Cooling Heating: Forced AirHas CoolingAir Conditioning: Central AirHas HeatingHeating Fuel: Forced Air |
Fireplace & Spa Number of Fireplaces: 2Fireplace: InoperableHas a Fireplace |
Windows, Doors, Floors & Walls Window: Vinyl Frames |
Levels, Entrance, & Accessibility Stories: 3Levels: Three Or MoreAccessibility: None |
View Has a ViewView: City |
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Exterior Home Features Roof: ShinglePatio / Porch: Covered, Patio, PorchFencing: WoodExterior: Balcony, Outdoor GrillFoundation: Stone |
Parking & Garage No CarportNo GarageNo Attached GarageHas Open ParkingParking: On Street |
Water & Sewer Sewer: Public Sewer |
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Cumulative Days on Market: 106 |
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Year Built Year Built: 1913 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi Family, DuplexStructure Type: DuplexArchitecture: Duplex |
Building Construction Materials: BrickNot a New Construction |
Property Information Condition: Existing StructureParcel Number: 0553225002.00 |
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Price List Price: $325,000 |
Status Change & Dates Off Market Date: Wed Jan 15 2025 |
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MLS Status: Sold |
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Direction & Address City: Covington |
School Information Elementary School: Sixth District ElementaryJr High / Middle School: Holmes Middle SchoolHigh School: Holmes Senior HighHigh School District: Covington Indep |
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Building Area Building Area: 2206 Square Feet |
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Lot Area: 4791.6 sqft |
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Mobile Home Park Mobile Home Units: Feet |
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Expense Tenant Pays: Gas, Heat |
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Owner Pays: Sewer, Water |
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BasementMls Number: 624884 |
Last check for updates: about 15 hours ago
Listed by Jonathan Amster, (513) 307-3937
Comey & Shepherd, REALTORS
Bought with: Jody Connett, (859) 630-0867, Huff Realty - CC
Source: NKMLS, MLS#624884

Price History for 509 Wallace Ave
| Date | Price | Event | Source |
|---|---|---|---|
| 02/14/2025 | $300,000 | Sold | NKMLS #624884 |
| 01/16/2025 | $325,000 | Pending | NKMLS #624884 |
| 11/07/2024 | $325,000 | PendingToActive | NKMLS #624884 |
| 08/27/2024 | $325,000 | Pending | NKMLS #624884 |
| 07/23/2024 | $325,000 | Listed For Sale | NKMLS #624884 |
| 05/13/2021 | $271,500 | Sold | N/A |
| 04/11/2021 | $275,000 | Pending | NKMLS #547431 |
| 04/07/2021 | $275,000 | Listed For Sale | NKMLS #547431 |
| 04/29/2013 | $162,000 | Sold | N/A |
| 01/12/2012 | $162,000 | Sold | N/A |
| 03/06/2003 | $124,000 | Sold | N/A |
| 01/27/1997 | $58,440 | Sold | N/A |
Property Tax and Assessment
| Year | 2024 |
|---|---|
| Tax | $3,570 |
| Assessment | $271,500 |
Home facts updated by county records
Comparable Sales for 509 Wallace Ave
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.38 | Multi-Family Home | $333,000 | 10/22/25 | 2 | 2 | 1,598 | |
0.28 | Multi-Family Home | $229,400 | 11/03/25 | 2 | 2 | 1,890 | |
0.29 | Multi-Family Home | $200,000 | 08/29/25 | 2 | 2 | 2,064 | |
0.42 | Multi-Family Home | $350,000 | 09/19/25 | 6 | 4 | 4,300 | |
0.68 | Multi-Family Home | $295,000 | 04/17/26 | 4 | 2 | 2,490 |
Assigned Schools
These are the assigned schools for 509 Wallace Ave.
What Locals Say about Covington
At least 419 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
34 % Say there are community events
Sourced by Trulia users. Learn more about our methodology.
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Homes for sale near 509 Wallace Ave
Off Market Homes Near 509 Wallace Ave

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of NKMLS. Real estate listings held by IDX Brokerage firms other than Zillow, Inc. are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing Brokers.
Listing information is deemed reliable, but not guaranteed.
Copyright 2026 Northern Kentucky Multiple Listing Service, Inc. All rights reserved.
Listing information is deemed reliable, but not guaranteed.
Copyright 2026 Northern Kentucky Multiple Listing Service, Inc. All rights reserved.
Homes for rent near 509 Wallace Ave
509 Wallace Ave, Covington, KY 41014 is a 3 bedroom, 3 bathroom, 2,206 sqft multi-family built in 1913. This property is not currently available for sale. 509 Wallace Ave was last sold on Feb 14, 2025 for $300,000 (8% lower than the asking price of $325,000). The current Trulia Estimate for 509 Wallace Ave is $317,400.

