118 Central Ave Berea, KY 40403
Berea AreaEstimated payment $1,616/month
About This Home
Fully occupied, turnkey duplex in Berea generating immediate cash flow with both 3BR/1.5BA units leased at $1,550/month, producing $3,100/month ($37,200 annually) in gross rental income. Property features stable annual leases, thoughtful interior updates, and energy-efficient improvements including updated HVAC systems, windows, and roofing. Utilities are currently included for both units, with total utility costs averaging approximately $500/month for the entire property. Annual property taxes are approximately $2,000, and insurance averages around $3,000/year. Walkable distance to Berea College, and conveniently located near I-75, local shops, restaurants, and outdoor recreation, this property offers a strong opportunity for investors seeking a stabilized, income-producing asset in a high-demand rental market.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1994
Lot Details
- 7,275 Sq Ft Lot
Home Design
- Duplex
- Metal Roof
Interior Spaces
- 2,248 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
Laundry
- Laundry on main level
- Washer and Electric Dryer Hookup
Parking
- 4 Parking Spaces
- Paved Parking
Schools
- Berea Community Elementary And Middle School
- Berea Community High School
Utilities
- Cooling Available
- Heating Available
Community Details
- Downtown Subdivision
- 1 Vacant Unit
Listing and Financial Details
- Assessor Parcel Number B010-0016-0002
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,526 | $128,000 | $0 | $0 |
| 2024 | $1,507 | $128,000 | $0 | $0 |
| 2023 | $1,674 | $128,000 | $0 | $0 |
| 2022 | $1,624 | $128,000 | $0 | $0 |
| 2021 | $1,723 | $128,000 | $0 | $0 |
| 2020 | $1,105 | $84,000 | $0 | $0 |
| 2019 | $1,141 | $84,000 | $0 | $0 |
| 2018 | $1,119 | $84,000 | $0 | $0 |
| 2017 | $1,096 | $84,000 | $0 | $0 |
| 2016 | $1,067 | $84,000 | $0 | $0 |
| 2015 | $1,216 | $84,000 | $0 | $0 |
| 2014 | $1,084 | $84,000 | $0 | $0 |
| 2012 | $1,084 | $84,000 | $84,000 | $0 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/05/2026 08/05/26 | Price Changed | $269,900 | 0.0% | $120 / Sq Ft |
| 08/05/2026 08/05/26 | For Sale | $269,900 | -5.6% | $120 / Sq Ft |
| 07/26/2026 07/26/26 | Off Market | $286,000 | -- | -- |
| 07/05/2026 07/05/26 | Price Changed | $286,000 | -1.3% | $127 / Sq Ft |
| 03/31/2026 03/31/26 | Price Changed | $289,900 | -1.7% | $129 / Sq Ft |
| 03/03/2026 03/03/26 | Price Changed | $294,900 | -4.3% | $131 / Sq Ft |
| 02/20/2026 02/20/26 | Price Changed | $308,000 | -0.6% | $137 / Sq Ft |
| 01/22/2026 01/22/26 | For Sale | $310,000 | -- | $138 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $128,000 | None Available | |
| Warranty Deed | $84,000 | None Available | |
| Warranty Deed | $91,000 | None Available |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $20,000 | Credit Line Revolving | |
| Open | $128,000 | Unknown | |
| Previous Owner | $81,900 | New Conventional |
Source: ImagineMLS (Bluegrass REALTORS®)
MLS Number: 26001566
APN: B010-0016-0002
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The information is being provided by LBAR Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2026 LBAR Multiple Listing Service. All Rights Reserved.
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