4360 Beechgrove Dr · Independence, KY 41051

$145,000

2 bd · 1.5 ba · 960 sqft · Townhouse public records · 2 Days on market

Built 1981 436 sqft lot Est $140k · at est. $244/mo HOA · 13% of rent

---

Why this score? — see what drove the C+ 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 +24.6/30.0
• DSCR +7.9/10.0
• 1% rule +7.8/10.0
• ARV discount +5.9/15.0
• Schools +4.0/10.0
• Rent growth +3.8/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A hidden gem! This super cute 2 bedroom, 1.5 bath townhome style condo is spacious and has been well maintained. Features include new carpet, beautiful white kitchen cabinets & stainless steel appliances, large finished lower level family room, private rear patio with a serene wooded view and all the community amenities including pool, clubhouse, tennis court, play area, walking trails, landscaping, snow removal etc. Kitchen appliances stay including the washer & dryer. All this and USDA eligible makes this a great opportunity for homeownership!

Key facts

• Community pool
• Three full levels
• $244 HOA

Tags

• THREE FULL LEVELS
• TWO ASSIGNED PARKING SPACES
• COMMUNITY POOL

Property features AI

Finance

• HOA & community: Monthly association fee of $244.73; Association provides landscaping, pool, tennis courts, and clubhouse; Association fee includes management

Exterior

• Parking: Assigned parking (2 spaces)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Townhouse; Three or more levels
• Construction: Built in 1981; Vinyl siding; Composition/shingle roof; Poured concrete foundation
• Exterior features: Patio; City street frontage

Interior

• Kitchen: Electric oven; Dishwasher; Microwave; Refrigerator
• Bedrooms: Primary bedroom (13 x 9); Additional bedroom (15 x 9)
• Bathrooms: One full bathroom (primary); One half bathroom
• Heating & cooling: Heat pump and electric heating; Central air conditioning
• Interior features: Ceiling fans; Multi-panel doors; Partial basement
• Laundry & utility: Electric dryer hookup in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $145k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 8.8% vs local median 3.7% in Independence — 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 72/100 on livability (#130 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Kenton County (suburban): math 42% / reading 48% proficiency, ranked #14 of 165 in KY (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Beechgrove Elementary School (math 41% / reading 42%, grade F, #197 of 676 statewide, top 29%, 660 students, 61% FRL); Woodland Middle School (math 38% / reading 50%, grade D, #40 of 217 statewide, top 19%, 616 students, 48% FRL); Simon Kenton High School (math 40% / reading 44%, grade F, #32 of 254 statewide, top 13%, 1,859 students, 37% FRL) — zoned schools average 49% FRL vs 33% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 253 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $41k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 24y 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 $105k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $145,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.28% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.84%
• DSCR: 1.39
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $140,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1060 Oakwood Ct #3	0.25mi	2/1.5	936 (-2%)	0mo	$157,000	$168	84
1060 Oakwood Ct #4	0.25mi	2/1.5	958 (-0%)	5mo	$150,000	$157	83
4345 Beechgrove Drive Dr	0.02mi	2/1.5	960 (0%)	24mo	$138,000	$144	79
4307 Cobblewood Ct	0.05mi	2/1.5	1,044 (+9%)	19mo	$146,500	$140	67
1058 Oakgrove Ct #3	0.28mi	2/1.0	1,058 (+10%)	3mo	$155,000	$147	65
1052 Oakwood Ct #3	0.22mi	2/1.5	1,058 (+10%)	9mo	$154,900	$146	65
1052 Oakwood Ct #2	0.22mi	2/1.5	1,035 (+8%)	17mo	$151,000	$146	62
4187 Elder Ct #5	0.24mi	2/1.5	1,102 (+15%)	7mo	$161,000	$146	59
1070 Oakgrove Ct #1	0.30mi	2/1.0	868 (-10%)	12mo	$145,000	$167	58
1054 Oakgrove Ct #1	0.28mi	2/1.0	868 (-10%)	14mo	$119,000	$137	57
1064 Oakwood Ct #2	0.25mi	2/1.0	1,058 (+10%)	23mo	$133,000	$126	50
4253 Berrywood Dr #2	0.65mi	2/1.5	1,080 (+12%)	1mo	$143,000	$132	48

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $214
• Equity at exit: $21,620

10-year hold

• IRR: 12.4%
• Equity multiple: 2.10×
• Total profit: $44,793
• Equity at exit: $12,537

Cash invested: $40,600 (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 41051

• Home prices YoY: -32.6%
• Rents YoY: 5.4%
• Active inventory: 253
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,860 high
• Mortgage (P&I): −$760
• Tax from tax record: −$106 /mo · $1,267/yr
• Insurance: −$60
• HOA: −$244
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $299

Break-even live

Break-even rent $1,481

Max offer price $145,000

Occupancy floor 79%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1047 Alpine Ct Independence, KY	3.0	2.0	1035	$2,400	$2.32	24d	1	0.22mi
9552 Apple Valley Dr Independence, KY	2.0	2.0	1100	$1,456	$1.32	2d	6	0.44mi
704 Amhurst Dr Independence, KY	1.0	1.0	576	$995	$1.73	44d	1	0.64mi
606 Amhurst Dr Independence, KY	1.0	1.0	576	$945	$1.64	44d	1	0.68mi
4051 Turkeyfoot Rd Erlanger, KY	1.0	1.0	576	$995	$1.73	44d	1	0.71mi

HOA detail

• Monthly dues: $244 · $2,928/yr
• Likely covers: landscapingsnow removalpool

Listing history 3 events

1. 2026-06-18
   days on market $145,000 Active 2 DOM
2. 2026-06-17
   remarks 435-char remark
3. 2026-06-17
   listed $145,000 Active 1 DOM

ⓘ 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: $1,267 · $106/mo
• Projected year-2 tax: $1,267 · $106/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,319
• − Mortgage interest: −$8,122
• − Property taxes: −$1,267
• − Insurance: −$725
• − Repairs & maintenance: −$1,785
• − Management: −$1,785
• − HOA: −$2,928
• − Depreciation: −$4,218
• Taxable income: $1,487
• Est. tax owed @ 24.0%: −$357
• After-tax cash flow: $3,230/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: Kenton County
• NCES district ID: 2103090
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 48% ▼ -14.00%
• Median HH income: $66,183
• Composite: 40.17/100
• National rank: #3789
• State rank: #14 of 165 in KY

Livability — Independence

• Score: 72/100
• State rank: #130
• US rank: #6165

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, KY
• County: Kenton County · 142,881 people
• City population: 33,054
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 33,054
• Household income: $104,201
• Rent vs Own: 12.5% rent · 87.5% own
• Severe rent burden: 243.0

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Black 1% Asian 1%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 96% English-only · Spanish 1% Chinese 1% Other Asian/Pacific 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: ▼ -105.60%
• Current HPI: 218.492
• Rent YoY: ▲ 5.37%
• 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

+320.3% since first listed

19 events — show timeline

• 2026-06-16 Listed $145,000 NKMLS
• 2021-10-14 Sold (Public Records) $105,000 Public Records
• 2021-10-06 Sold (MLS) $105,000 NKMLS
• 2021-08-16 Pending — NKMLS
• 2021-08-12 Listed $99,000 NKMLS
• 2016-01-08 Listing Removed — NKMLS
• 2015-09-15 Listed $69,500 NKMLS
• 2015-08-22 Listing Removed — NKMLS
• 2015-03-10 Listed $69,500 NKMLS
• 2005-07-12 Sold (Public Records) $67,000 Public Records
• 2005-07-06 Sold (MLS) $67,000 NKMLS
• 2005-03-12 Listed $67,515 NKMLS
• 2002-09-30 Listing Removed — NKMLS
• 2002-05-04 Listed $70,000 NKMLS
• 1997-05-28 Sold (Public Records) $50,000 Public Records
• 1993-12-09 Sold (Public Records) $48,500 Public Records
• 1989-05-26 Sold (Public Records) $43,500 Public Records
• 1987-07-14 Sold (Public Records) $37,900 Public Records
• 1986-11-12 Sold (Public Records) $34,500 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,267 · -4.8% YoY. Source: county tax records.