236 W 9th St · Newport, KY 41071

$525,000

None bd · None ba · 3,198 sqft · MultiFamily public records · 8 Days on market

Built 1895 Good condition 2,439 sqft lot

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Why this score? — see what drove the B- 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 +28.1/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Rent growth +3.7/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Newly remodeled 4 Unit in a growing Newport! Brand new Electric and Plumbing! Each unit has a spacious 1bedroom and 1 bathroom, with in unit laundry. Strong rental income is present here while still having opportunity for househacking in the vacant unit. Minutes from downtown Cincinnati and even closer to Newport on the Levee and Covington.

Key facts

• Brand new plumbing
• In unit laundry
• Brand new electric

Tags

• BRAND NEW ELECTRIC
• BRAND NEW PLUMBING
• IN UNIT LAUNDRY
• STRONG RENTAL INCOME
• OPPORTUNITY FOR HOUSEHACKING
• CLOSER TO NEWPORT ON THE LEVEE

Property features AI

Finance

• Other: Lot dimensions approximately 39 x 63 (about 0.06 acres)
• Financial info: Four total units
• HOA & community: Details not provided

Exterior

• Parking: On-street parking
• Security: Details not provided
• Utilities: Public water; Public sewer
• Home design: Quadruplex multi-family building; Three or more levels; Built in 1895
• Construction: Brick construction; Stone foundation
• Exterior features: Full basement; Double-hung windows with vinyl frames; Wrought iron fencing; Membrane roof

Interior

• Kitchen: Stainless steel appliances; Gas range; Dishwasher; Microwave; Refrigerator
• Bedrooms: Details not provided
• Flooring: Details not provided
• Bathrooms: Details not provided
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Eat-in kitchen; Inoperable fireplace
• Laundry & utility: Washer and dryer in unit

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $525k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $414/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $525k).
• Cap rate 10.1% 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: 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.
• Zoned schools: Newport High School (math 16% / reading 28%, grade F, #202 of 254 statewide, top 82%, 579 students, 84% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 236 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 247 units permitted in Campbell County in 2024 (77 in 5+ unit buildings).
• At $6,052/mo this rent would consume 121% of the median local household income ($60k/yr) (locally 1136% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $147k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $425k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $525,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.53%
• DSCR: 1.60
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $275,028
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
723 Isabella St	0.16mi	5/3.0	2,907 (-9%)	2mo	$250,000	$86	76
721 Washington Ave	0.56mi	5/4.0	3,089 (-3%)	7mo	$398,000	$129	63
224 - 226 E 7th St	0.52mi	4/2.0	2,903 (-9%)	2mo	$218,000	$75	58
901 Saratoga St	0.45mi	—/—	3,576 (+12%)	19mo	$270,000	$76	44

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 · 4.64% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.21×
• Total profit: $30,442
• Equity at exit: $78,279

10-year hold

• IRR: 16.0%
• Equity multiple: 2.39×
• Total profit: $204,641
• Equity at exit: $45,392

Cash invested: $147,000 (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: 28.9×

Monthly cashflow live

• Estimated rent: $6,052 high
• Mortgage (P&I): −$2,753
• Tax from tax record: −$151 /mo · $1,817/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,271
• Net cashflow: $1,658

Break-even live

Break-even rent $3,954

Max offer price $525,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,955	-5% $1,806	+0% $1,658	+5% $1,509	+10% $1,361
Rent	-10% $1,180	-5% $1,419	+0% $1,658	+5% $1,897	+10% $2,136
Rate	-1.0pp $1,922	-0.5pp $1,791	base $1,658	+0.5pp $1,522	+1.0pp $1,383

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$6,052
Total (4 units)			$6,052

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
140 W 13th St Newport, KY	3.0	3.5	2505	$4,200	$1.68	12d	1	0.42mi
1 W 4th St Cincinnati, OH	3.0	1.0–3.5	1675	$6,550	$3.91	3d	96	1.36mi

Listing history 6 events

1. 2026-06-02
   statusdays on market $525,000 Pending 8 DOM
2. 2026-06-01
   days on market $525,000 Active 7 DOM
3. 2026-05-31
   days on market $525,000 Active 6 DOM
4. 2026-05-25
   listed $525,000 Active
5. 2022-09-19
   soldstatus $425,000
6. 2021-08-02
   soldstatus $112,500

ⓘ 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: $1,817 · $151/mo
• Projected year-2 tax: $4,515 · $376/mo
• Expected delta: +$2,698/yr (+$225/mo · 148.5%)

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

Taxation est. · year 1

• Rental income: $72,624
• − Mortgage interest: −$29,408
• − Property taxes: −$1,817
• − Insurance: −$2,625
• − Repairs & maintenance: −$5,810
• − Management: −$5,810
• − Depreciation: −$15,273
• Taxable income: $11,881
• Est. tax owed @ 24.0%: −$2,852
• After-tax cash flow: $17,042/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This 4-unit property is in good condition with modern amenities and a well-maintained exterior. It's ready for immediate rental or resale.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and rental value
• Both Paint exterior — Improves curb appeal and rental value
• Both Landscaping — Enhances curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and rental value ↑
• Both Paint exterior — Improves curb appeal and rental value ↑
• Both Landscaping — Enhances curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+366.7% since first listed

3 events — show timeline

• 2026-05-25 Listed $525,000 NKMLS
• 2022-09-19 Sold (Public Records) $425,000 Public Records
• 2021-08-02 Sold (Public Records) $112,500 Public Records

Property tax history

+16.3%/yr

Latest (2025): $1,817 · -3.5% YoY. Source: county tax records.