216 E 18th St · Covington, KY 41014

$220,000

3 bd · 1.0 ba · 1,756 sqft · SingleFamily public records · 39 Days on market

Est $255k · 14% under

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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 +19.2/30.0
• ARV discount +13.6/15.0
• DSCR +6.1/10.0
• 1% rule +4.6/10.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold when entered as For Sale By Owner. Nice 2 story house.

Key facts

• Large basement
• Nice backyard
• Inviting wood porch

Tags

• ORIGINAL HARDWOOD FLOORS
• BEAUTIFULLY PRESERVED WOODWORK
• STAINLESS STEEL APPLIANCES
• INVITING WOOD PORCH
• NICE BACKYARD
• LARGE BASEMENT

Property features AI

Exterior

• Parking: On-street parking
• Security: Security system
• Utilities: Public water; Public sewer; Cable available; Water available; Sewer available
• Home design: Single family house; Two levels; Residential property; Has a view
• Construction: Vinyl siding exterior; Shingle roof; Block foundation; Built as existing structure
• Exterior features: Covered porch; Private yard; Wood fencing; Cleared lot

Interior

• Kitchen: Stainless steel appliances; Electric cooktop; Electric oven; Microwave; Refrigerator
• Bedrooms: Primary bedroom (14 x 13); Bedroom 2 (14 x 14); Bedroom 3 (13 x 13)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Has heating
• Interior features: Pocket doors; Entrance foyer; Eat-in kitchen; Natural woodwork; Inoperable fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry area in basement / lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $237 ($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 $212k (3.8% below list).
• Recommended offer: $212k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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: Sixth District Elementary School (math 8% / reading 17%, grade F, #630 of 676 statewide, top 95%, 446 students, 84% 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 83% FRL track the district average.
• Market conditions: Rents rising fast (+5.1%/yr); 59 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 41% of the median local income ($61k/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 39 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $171k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $211,750 (3.8% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.96% ✗
• Cap rate: 7.58%
• Cash-on-cash: 4.61%
• DSCR: 1.21
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $254,620
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 E 18th St	0.00mi	3/2.0	1,876 (+7%)	1mo	$215,000	$115	84
335 E 17th St	0.14mi	3/2.0	1,844 (+5%)	0mo	$275,000	$149	81
515 Delmar Pl	0.28mi	3/2.0	1,696 (-3%)	2mo	$195,500	$115	76
1904 Greenup St	0.13mi	4/3.0 (+1)	1,830 (+4%)	1mo	$314,000	$172	73
1718 Greenup St	0.05mi	3/2.5	1,950 (+11%)	0mo	$310,000	$159	73
16 E 18th St	0.17mi	3/2.5	1,878 (+7%)	1mo	$384,450	$205	73
2038 Greenup St	0.29mi	4/2.5 (+1)	1,698 (-3%)	2mo	$340,000	$200	69
1718 Woodburn Ave	0.53mi	3/2.5	1,680 (-4%)	3mo	$244,000	$145	59
507 Highland Pike	0.66mi	3/1.5	1,696 (-3%)	4mo	$85,000	$50	59
2009 Russell St	0.47mi	2/1.5 (-1)	1,602 (-9%)	3mo	$145,000	$91	54
1712 Banklick St	0.44mi	2/2.0 (-1)	1,936 (+10%)	1mo	$230,900	$119	52
1507 Morton Ave	0.73mi	3/1.5	1,856 (+6%)	4mo	$201,700	$109	51

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 · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-15,967
• Equity at exit: $32,803

10-year hold

• IRR: 5.1%
• Equity multiple: 1.41×
• Total profit: $25,284
• Equity at exit: $19,022

Cash invested: $61,600 (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 41014

• Rents YoY: 5.1%
• Active inventory: 59
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,118 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$191 /mo · $2,290/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $237

Break-even live

Break-even rent $1,818

Max offer price $220,000

Occupancy floor 84%

Sensitivity live

Price	-10% $361	-5% $299	+0% $237	+5% $174	+10% $112
Rent	-10% $69	-5% $153	+0% $237	+5% $320	+10% $404
Rate	-1.0pp $347	-0.5pp $293	base $237	+0.5pp $180	+1.0pp $122

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1927 Scott St Apt 1 Covington, KY	3.0	2.0	1865	$2,100	$1.13	20d	1	0.20mi
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	4d	1	0.25mi
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	24d	1	0.80mi
140 W 13th St Newport, KY	3.0	3.5	2505	$4,200	$1.68	12d	1	1.04mi
1700 Aspen Pines Dr Wilder, KY	1.0–3.0	1.0–2.5	1420	$2,365	$1.67	2d	14	1.14mi
809 Isabella St Newport, KY	2.0	2.0	1519	$2,200	$1.45	44d	1	1.17mi
203 W 8th St Newport, KY	2.0	1.5	1456	$2,300	$1.58	21d	1	1.24mi
103 E 3rd St Covington, KY	2.0	2.5	1291	$3,250	$2.52	2d	1	1.31mi
50 W Rivercenter Blvd Covington, KY	1.0–2.0	1.0–2.5	1273	$3,640	$2.86	2d	9	1.46mi

Listing history 13 events

1. 2026-05-05
   status Pending
2. 2026-04-24
   price $220,000
3. 2026-03-27
   listed $229,900 Active
4. 2022-10-21
   status Pending 60-char remark

   Show marketing remark (60 chars)

   Sold when entered as For Sale By Owner. Nice 2 story house.

5. 2022-08-18
   soldstatus $171,000
6. 2022-08-05
   soldstatus $171,000 Sold 60-char remark

   Show marketing remark (60 chars)

   Sold when entered as For Sale By Owner. Nice 2 story house.

7. 2022-07-02
   listed $174,900 Active 60-char remark

   Show marketing remark (60 chars)

   Sold when entered as For Sale By Owner. Nice 2 story house.

8. 2021-01-13
   soldstatus $40,000 Closed 28-char remark

   Show marketing remark (28 chars)

   Great Investment Opportunity

9. 2020-11-14
   status Pending 28-char remark

   Show marketing remark (28 chars)

   Great Investment Opportunity

10. 2020-11-14
    listed $65,000 Active 28-char remark

    Show marketing remark (28 chars)

    Great Investment Opportunity

11. 2018-12-12
    historical
12. 2018-06-28
    listed $66,000
13. 1990-07-27
    soldstatus $25,000

ⓘ 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: $2,290 · $191/mo
• Projected year-2 tax: $2,290 · $191/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $25,410
• − Mortgage interest: −$12,323
• − Property taxes: −$2,290
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − Depreciation: −$6,400
• Taxable loss: −$769
• Est. tax savings @ 24.0%: +$185
• After-tax cash flow: $3,024/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): 7,392
• Household income: $61,382
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 511.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 10% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -172.77%
• Current HPI: 233.8216
• Rent YoY: ▲ 5.13%
• 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

+780.0% since first listed

13 events — show timeline

• 2026-05-05 Pending — NKMLS
• 2026-04-24 Price Changed $220,000 NKMLS
• 2026-03-27 Listed $229,900 NKMLS
• 2022-10-21 Pending — NKMLS
• 2022-08-18 Sold (Public Records) $171,000 Public Records
• 2022-08-05 Sold (MLS) $171,000 NKMLS
• 2022-07-02 Listed $174,900 NKMLS
• 2021-01-13 Sold (MLS) $40,000 NKMLS
• 2020-11-14 Pending — NKMLS
• 2020-11-14 Listed $65,000 NKMLS
• 2018-12-12 Listing Removed — NKMLS
• 2018-06-28 Listed $66,000 NKMLS
• 1990-07-27 Sold (Public Records) $25,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,290 · +0.7% YoY. Source: county tax records.