118 Central Avenue, Berea, KY 40403
Downtown · Madison County
Key Facts
Description
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 Information
Property Type
Residential Income
Sub-Type
Duplex
Structure Type
Duplex
Year Built
1994
Stories
2
Living Area
2,248 sq ft
Lot Size
0.17 acres
Parking Spaces
4
Zoning
Other
MLS® Listing#
26001566
Property Features
Cooling
Heating
Parking
Laundry
Roof
Utilities
Schools
- Elementary:
- Berea Community
- Middle:
- Berea Community
- High:
- Berea Community
Financial Details
Parcel Number
B010-0016-0002
Directions
From Berea follow Prospect toward Big Hill. Turn right on Central Avenue. duplex is on the left.
Affordability Calculator
$57,200
Estimated monthly payment
$1,522/mo
Principal $228,800 · Est. interest $319,196 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Berea, KY
- $303,371
- Median Listing Price
- 48
- Median Days on Market
- 1,687
- Median Sq Ft
- $175
- Median Price / Sq Ft
- 112
- Active Listings
- This home’s price is 6% below the area median.
- Its price per sq ft is 27% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Berea, KY.
Location
Getting Around
Points of Interest in Berea, KY
Showing the Berea area map.
Nearby Schools
New Opportunity School
Secondary · 0.8 mi away
Berea Community High School
Secondary · 1.1 mi away
Berea Community Elementary School
Elementary · 1.1 mi away
Holding Hands Montessori School
Elementary · 1.4 mi away
Madison Southern High School
Secondary · 1.4 mi away
MSHS Eagles
School · 1.4 mi away
Foley Middle School
Secondary · 1.5 mi away
Silver Creek Elementary School
Elementary · 1.7 mi away
The Woodworking School at Pine Croft
School · 1.7 mi away
Shannon Johnson Elementary School
Elementary · 1.7 mi away
Farristown Middle School
Secondary · 3.6 mi away
Kingston Elementary School
Elementary · 6.1 mi away
Kirksville Elementary School
Elementary · 8.7 mi away
Roundstone Elementary School
Elementary · 9.9 mi away
Paint Lick Elementary School
Elementary · 10.5 mi away
Model Laboratory School
School · 11.2 mi away
Clark Moores Middle School
Secondary · 11.2 mi away
Mayfield Elementary School
Elementary · 11.8 mi away
Madison County Schools
School · 11.9 mi away
Richmond Montessori School
Elementary · 11.9 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 414 Center Street, Berea, KY | $225,000 | 5 | 2 | 1,680 |
| 1241 Flat Gap Road, Berea, KY | $239,900 | 5 | 2 | 1,803 |
| 821 Ridgewood Drive 1-2, Berea, KY | $299,999 | 6 | 6 | 2,880 |
| 2655 Battlefield Memorial Highway, Berea, KY | $320,000 | 9 | 4 | 3,005 |
Moving Cost Estimate
EXIT Agents in Berea
Listing Courtesy: Century 21 Pinnacle - 8596231900
Last Updated: 2026-01-21