720 Highland Ave · Covington, KY 41011

$219,000

2 bd · 1.0 ba · 1,680 sqft · SingleFamily public records · 28 Days on market

6,396 sqft lot Est $234k · 6% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.4/30.0
• ARV discount +10.3/15.0
• DSCR +5.4/10.0
• Livability +4.3/5.0
• 1% rule +3.8/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your dream home! This beautifully and professionally renovated brick home features 2 large bedrooms and 1 full bath. The interior boasts modern upgrades and the kitchen offers luxurious quartz countertops/backsplash, stainless steel appliances, and a coffee bar for your morning enjoyment. Enjoy a summer-time drink on the large front porch. Located near local dining, shops, and downtown Cincinnati. NEW roof, HVAC, windows, all you have to do is move in! You don't want to miss this opportunity! One or more photo(s) was virtually staged

Key facts

• Large front porch
• New roof
• Coffee bar

Tags

• PROFESSIONALLY RENOVATED
• LUXURIOUS QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• COFFEE BAR
• LARGE FRONT PORCH
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (12.4% below list).
• Recommended offer: $192k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 5.3% in Covington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 86/100 on livability (#40 in KY, #376 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D+.
• Covington Independent (suburban): math 10% / reading 27% proficiency, ranked #162 of 165 in KY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Glenn O Swing Elementary (math 29% / reading 50%, grade F, #208 of 676 statewide, top 34%, 407 students, 78% FRL); Holmes Middle School (math 8% / reading 26%, grade F, #211 of 217 statewide, top 97%, 656 students, 84% FRL); Holmes High School (math 12% / reading 17%, grade F, #227 of 254 statewide, top 89%, 878 students, 80% FRL) — zoned schools at 81% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 218 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).
• This rent runs 33% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Kenton County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $219k implies a 213% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $191,864 (12.4% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.19%
• DSCR: 1.14
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $233,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 Highland Pike	0.26mi	3/1.5 (+1)	1,696 (+1%)	4mo	$85,000	$50	76
1718 Woodburn Ave	0.43mi	3/2.5 (+1)	1,680 (0%)	3mo	$244,000	$145	66
2009 Russell St	0.49mi	2/1.5	1,602 (-5%)	3mo	$145,000	$91	65
1835 Jefferson Ave	0.26mi	2/1.0	1,454 (-14%)	6mo	$187,500	$129	60
1103 Mount Allen Rd	0.57mi	3/2.0 (+1)	1,800 (+7%)	1mo	$300,000	$167	52
1507 Morton Ave	0.58mi	3/1.5 (+1)	1,856 (+10%)	4mo	$201,700	$109	45
1517 Banklick St	0.66mi	3/2.0 (+1)	1,536 (-9%)	4mo	$68,000	$44	42
202 W 18th St	0.51mi	3/1.5 (+1)	1,436 (-14%)	4mo	$219,000	$153	42
215 W 15th St	0.71mi	2/1.0	1,472 (-12%)	7mo	$180,000	$122	40
1545 Holman St	0.58mi	3/1.0 (+1)	1,439 (-14%)	6mo	$200,000	$139	39
611 Watkins St	0.73mi	2/1.5	1,441 (-14%)	7mo	$225,000	$156	34
16 E 18th St	0.75mi	3/2.5 (+1)	1,878 (+12%)	2mo	$384,450	$205	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.55% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.48×
• Total profit: $-32,137
• Equity at exit: $32,654

10-year hold

• IRR: -8.7%
• Equity multiple: 0.49×
• Total profit: $-31,195
• Equity at exit: $18,935

Cash invested: $61,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kentucky: 83 Strongly Landlord-Friendly · R+16
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit (URLTA cities); generally landlord-friendly.

Methodology + full state rankings →

ZIP-level market 41011

• Rents YoY: 1.6%
• Active inventory: 218
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,919 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$113 /mo · $1,358/yr
• Insurance: −$91
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $96

Break-even live

Break-even rent $1,797

Max offer price $219,000

Occupancy floor 90%

Sensitivity live

Price	-10% $220	-5% $158	+0% $96	+5% $34	+10% $-28
Rent	-10% $-55	-5% $21	+0% $96	+5% $172	+10% $248
Rate	-1.0pp $207	-0.5pp $152	base $96	+0.5pp $40	+1.0pp $-18

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2307 Center St Covington, KY	3.0	1.5	1216	$1,950	$1.60	9d	1	0.43mi
1222 E Henry Clay Ave Fort Wright, KY	3.0	1.5	1200	$1,548	$1.29	25d	1	0.59mi
2220 Cityscape Dr Covington, KY	1.0–2.0	1.0–2.0	932	$1,985	$2.13	3d	9	0.61mi
1431 Dixie Hwy Park Hills, KY	1.0–2.0	1.0–2.0	920	$2,553	$2.77	3d	10	0.66mi
1927 Scott St Apt 1 Covington, KY	3.0	2.0	1865	$2,100	$1.13	21d	1	0.76mi
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	25d	1	0.87mi
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	6d	1	0.89mi
1025 Scott St Unit 2 Covington, KY	2.0	2.0	1100	$1,800	$1.64	4d	1	1.24mi
515 Main St Covington, KY	1.0–2.0	1.0–2.0	934	$2,215	$2.37	3d	8	1.45mi

Listing history 4 events

1. 2026-04-26
   status Pending
2. 2026-03-28
   listed $219,000 Active
3. 2026-02-17
   soldstatus $70,000
4. 1987-08-05
   soldstatus $26,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KY · Resets to sale price

• Current annual tax: $1,358 · $113/mo
• Projected year-2 tax: $1,883 · $157/mo
• Expected delta: +$525/yr (+$44/mo · 38.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,024
• − Mortgage interest: −$12,267
• − Property taxes: −$1,358
• − Insurance: −$1,892
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − Depreciation: −$6,371
• Taxable loss: −$2,549
• Est. tax savings @ 24.0%: +$612
• After-tax cash flow: $1,768/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Covington Independent
• NCES district ID: 2101350
• Math proficiency: 10% ▼ -20.00%
• Reading proficiency: 27% ▼ -14.00%
• Median HH income: $33,681
• Composite: 15.04/100
• National rank: #9353
• State rank: #162 of 165 in KY

Livability — Covington

• Score: 86/100
• State rank: #40
• US rank: #376

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime C+ Employment D+ Housing A+ Health & safety B+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Covington, KY
• County: Kenton County · 142,881 people
• City population: 34,373
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 26,981
• Household income: $69,970
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 1488.0

Population outlook (Kenton County) Hauer SSP2

• Today (2025): 174,205 people
• By 2030: 177,897 · +2.1%
• By 2040: 182,671 · +4.9%
• By 2050: 183,543 · +5.4%
• By 2075: 178,977 · +2.7%
• By 2100: 159,920 · -8.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 12% Black 10% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Kenton

• 2024 margin: Strong R (+21.7) · D 38.2% · R 59.9% · Other 1.9%
• 2008→2024 swing: -0.9pp no change · 2008: -20.9pp · 2024: -21.7pp
• All cycles: 2024: R+21.7 2020: R+19.3 2016: R+26.1 2012: R+24.3 2008: R+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -215.20%
• Current HPI: 237.0869
• Rent YoY: ▲ 1.55%
• Metro: Cincinnati, OH-KY-IN
• State GDP YoY: ▲ 1.81%
• F500 in state: 4

Industry mix (Fortune 500 HQ in KY)

Industry	F500 HQs	Revenue
▸Healthcare	1	$118B
▸Food / Beverage	1	$7B

Price history

+726.4% since first listed

4 events — show timeline

• 2026-04-26 Pending — NKMLS
• 2026-03-28 Listed $219,000 NKMLS
• 2026-02-17 Sold (Public Records) $70,000 Public Records
• 1987-08-05 Sold (Public Records) $26,500 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,358 · +0.7% YoY. Source: county tax records.