908 Hamlet St · Newport, KY 41071

$260,000

6 bd · 4.0 ba · 1,592 sqft · SingleFamily public records · 37 Days on market

Built 1886

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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 +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Livability +4.1/5.0
• Rent growth +3.7/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 family completely remodeled! New roof '05, new furnace '06, replacement windows, newer hot water heater, new kitchen cabinets, newer carpet

Key facts

• Built 1886
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/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 $224k (14.0% below list).
• Recommended offer: $224k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.9% in Newport — 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 82/100 on livability (#58 in KY, #1,070 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D, crime F, employment D-.
• Newport Independent (suburban): math 14% / reading 26% proficiency, ranked #160 of 165 in KY (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.6%/yr); 236 active listings in the ZIP; 247 units permitted in Campbell County in 2024 (77 in 5+ unit buildings).
• This rent runs 45% of the median local income ($60k/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 $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $75k; list at $260k implies a 247% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,608 (14.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1886 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.86% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.97%
• DSCR: 1.18
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.64% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.68×
• Total profit: $-23,177
• Equity at exit: $38,767

10-year hold

• IRR: 2.7%
• Equity multiple: 1.21×
• Total profit: $14,938
• Equity at exit: $22,480

Cash invested: $72,800 (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 41071

• Rents YoY: 4.6%
• Active inventory: 236
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,236 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$54 /mo · $647/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $241

Break-even live

Break-even rent $1,931

Max offer price $260,000

Occupancy floor 84%

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $260,000 Active 37 DOM
2. 2026-06-17
   days on market $260,000 Active 36 DOM
3. 2026-06-16
   days on market $260,000 Active 35 DOM
4. 2026-06-15
   days on market $260,000 Active 34 DOM
5. 2026-06-13
   days on market $260,000 Active 32 DOM
6. 2026-06-09
   days on market $260,000 Active 28 DOM
7. 2026-06-08
   days on market $260,000 Active 27 DOM
8. 2026-06-07
   days on market $260,000 Active 26 DOM
9. 2026-06-05
   days on market $260,000 Active 23 DOM
10. 2026-06-03
    days on market $260,000 Active 22 DOM
11. 2026-06-02
    days on market $260,000 Active 21 DOM
12. 2026-06-01
    days on market $260,000 Active 20 DOM
13. 2026-05-31
    days on market $260,000 Active 19 DOM
14. 2026-05-12
    listed $260,000 Active 176-char remark
15. 2025-09-18
    status Active
16. 2025-09-04
    status Pending
17. 2025-09-04
    historical
18. 2025-08-16
    listed $250,000 Active
19. 2008-05-28
    soldstatus $75,000
20. 2008-05-23
    soldstatus $75,000

    Show marketing remark (141 chars)

    2 family completely remodeled! New roof '05, new furnace '06, replacement windows, newer hot water heater, new kitchen cabinets, newer carpet

21. 2008-01-14
    listed $79,900

    Show marketing remark (141 chars)

    2 family completely remodeled! New roof '05, new furnace '06, replacement windows, newer hot water heater, new kitchen cabinets, newer carpet

22. 1987-04-15
    soldstatus $16,000

ⓘ 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: $647 · $54/mo
• Projected year-2 tax: $2,236 · $186/mo
• Expected delta: +$1,589/yr (+$132/mo · 245.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 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: $26,833
• − Mortgage interest: −$14,564
• − Property taxes: −$647
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,147
• − Management: −$2,147
• − Depreciation: −$7,564
• Taxable loss: −$1,535
• Est. tax savings @ 24.0%: +$368
• After-tax cash flow: $3,258/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: Newport Independent
• NCES district ID: 2104440
• Math proficiency: 14% ▼ -11.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $35,783
• Composite: 16.51/100
• National rank: #9182
• State rank: #160 of 165 in KY

Livability — Newport

• Score: 82/100
• State rank: #58
• US rank: #1070

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newport, KY
• County: Campbell County · 84,793 people
• City population: 19,680
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 19,680
• Household income: $59,976
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1136.0

Population outlook (Campbell County) Hauer SSP2

• Today (2025): 95,668 people
• By 2030: 96,886 · +1.3%
• By 2040: 97,734 · +2.2%
• By 2050: 96,413 · +0.8%
• By 2075: 90,211 · -5.7%
• By 2100: 79,434 · -17.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 7% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Campbell

• 2024 margin: R (+19.7) · D 39.2% · R 58.9% · Other 1.9%
• 2008→2024 swing: +1.2pp toward D · 2008: -20.9pp · 2024: -19.7pp
• All cycles: 2024: R+19.7 2020: R+18.6 2016: R+24.5 2012: R+22.8 2008: R+20.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -193.38%
• Current HPI: 244.9069
• Rent YoY: ▲ 4.64%
• 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

+1525.0% since first listed

9 events — show timeline

• 2026-05-12 Listed $260,000 FSBO.com
• 2025-09-18 Relisted — NKMLS
• 2025-09-04 Pending — NKMLS
• 2025-09-04 Listing Removed — NKMLS
• 2025-08-16 Listed $250,000 NKMLS
• 2008-05-28 Sold (Public Records) $75,000 Public Records
• 2008-05-23 Sold (MLS) $75,000 NKMLS
• 2008-01-14 Listed $79,900 NKMLS
• 1987-04-15 Sold (Public Records) $16,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $647 · -3.7% YoY. Source: county tax records.