518 W 7th St · Covington, KY 41011

$155,000

3 bd · 1.0 ba · 925 sqft · SingleFamily public records · 26 Days on market

1,737 sqft lot Est $206k · 25% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Livability +4.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots of potential in this home conveniently located within walking distance to Mainstrasse! Spacious rooms and high ceilings. Bonus room can be a huge walk-in closet, or a first floor laundry room off the master bedroom. Private parking in your own driveway. This home is ready for your imagination & some TLC. Priced to sell and being sold as is.

Key facts

• Private entrances
• Full basement
• 1,737 sq ft lot

Tags

• FULL BASEMENT
• OFF STREET PARKING SPACES
• PRIVATE ENTRANCES

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Cable available; Water service available
• Home design: Single-family residence; One level; Residential property
• Construction: Aluminum siding; Block foundation; Approximately 1,400 building area
• Exterior features: Double-hung and vinyl-clad windows; Shingle roof; Existing structure

Interior

• Kitchen: Kitchen (10 x 9)
• Bedrooms: Primary bedroom (12 x 14); Second bedroom (12 x 12)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $784 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% 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: John G Carlisle Elementary (math 2% / reading 27%, grade F, #620 of 676 statewide, top 93%, 304 students, 81% 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 82% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 214 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 38% 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 $1k of loan paydown is wiped out by about $5k 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 + 1.6% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $42k; list at $155k implies a 273% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $152,675 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.43% ✓
• Cap rate: 12.36%
• Cash-on-cash: 21.67%
• DSCR: 1.96
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $206,275
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
511 Pershing Ave	0.02mi	2/1.0 (-1)	908 (-2%)	22mo	$272,000	$300	73
944 Philadelphia St	0.32mi	2/1.0 (-1)	935 (+1%)	10mo	$117,500	$126	70
1319 Holman Ave	0.65mi	2/1.0 (-1)	928 (+0%)	7mo	$168,000	$181	59
630 Western Ave	0.25mi	2/1.5 (-1)	1,024 (+11%)	15mo	$199,500	$195	51
1034 Banklick St	0.45mi	3/1.5	1,040 (+12%)	10mo	$270,000	$260	48
1020 Winding Way	0.64mi	3/1.5	1,015 (+10%)	7mo	$360,000	$355	46
644 W 12th St	0.54mi	3/2.5	1,056 (+14%)	1mo	$235,000	$223	44
216 Covington Ave	0.33mi	2/1.0 (-1)	1,037 (+12%)	21mo	$235,000	$227	42
1312 Russell St	0.68mi	2/1.0 (-1)	1,031 (+12%)	8mo	$200,000	$194	38
1321 Russell St	0.69mi	2/1.0 (-1)	878 (-5%)	22mo	$66,000	$75	36
1016 John St	0.73mi	3/2.0	816 (-12%)	19mo	$195,000	$239	26

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: 12.7%
• Equity multiple: 1.50×
• Total profit: $21,585
• Equity at exit: $23,111

10-year hold

• IRR: 20.5%
• Equity multiple: 2.62×
• Total profit: $70,257
• Equity at exit: $13,402

Cash invested: $43,400 (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: 214
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,212 high
• Mortgage (P&I): −$813
• Tax from tax record: −$87 /mo · $1,040/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $784

Break-even live

Break-even rent $1,220

Max offer price $155,000

Occupancy floor 60%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 Main St Covington, KY	1.0–2.0	1.0–2.0	934	$2,215	$2.37	2d	8	0.18mi
50 W Rivercenter Blvd Covington, KY	1.0–2.0	1.0–2.5	1273	$3,640	$2.86	2d	9	0.62mi
1025 Scott St Unit 2 Covington, KY	2.0	2.0	1100	$1,800	$1.64	3d	1	0.69mi
1000 Parkvale Ct Park Hills, KY	2.0	1.0	850	$1,495	$1.76	44d	1	0.80mi
1002 Parkvale Ct Unit 1004 1 Park Hills, KY	2.0	1.0	850	$995	$1.17	44d	1	0.81mi
22 Swain Ct Covington, KY	1.0–3.0	1.0–2.0	951	$2,295	$2.41	2d	3	0.88mi
1431 Dixie Hwy Park Hills, KY	1.0–2.0	1.0–2.0	920	$2,553	$2.77	2d	10	0.93mi
1261 Parkway Ave Covington, KY	1.0–2.0	1.0	850	$1,375	$1.62	4d	3	0.99mi
44 W Freedom Way Cincinnati, OH	2.0	1.0–2.0	943	$2,859	$3.03	2d	28	1.03mi
344 E 13th St Unit 1 Covington, KY	2.0	1.0	1000	$1,275	$1.27	23d	1	1.05mi
121 E Freedom Way Cincinnati, OH	2.0	1.0–2.0	988	$2,999	$3.03	2d	27	1.11mi
205 W 4th St Cincinnati, OH	2.0	1.0–2.0	648	$2,162	$3.33	2d	44	1.14mi
151 W 4th St Cincinnati, OH	2.0	1.0	726	$2,399	$3.30	2d	102	1.15mi
309 Vine St Cincinnati, OH	1.0–3.0	1.0–2.0	955	$3,334	$3.49	2d	15	1.17mi
1 W 4th St Cincinnati, OH	3.0	1.0–3.5	1675	$9,200	$5.49	3d	96	1.21mi
210 W 5th St Newport, KY	1.0–2.0	1.0–2.0	845	$1,800	$2.13	3d	15	1.24mi
309 Sycamore St #201 Cincinnati, OH	2.0	2.0	850	$1,600	$1.88	23d	1	1.32mi
151 Seventh St W Cincinnati, OH	2.0	1.0–2.0	1191	$2,129	$1.79	2d	4	1.41mi
128 W 9th St Newport, KY	2.0	1.0	1012	$1,650	$1.63	2d	1	1.42mi
580 Walnut St Cincinnati, OH	2.0	1.0–2.5	1101	$4,822	$4.38	1d	19	1.43mi
1215 Elberta Cir Park Hills, KY	2.0	1.0	825	$1,050	$1.27	3d	1	1.43mi
7 W 7th St Cincinnati, OH	1.0–2.0	1.0–2.0	976	$3,420	$3.50	2d	65	1.44mi
630 Vine St Cincinnati, OH	2.0	1.0–2.0	741	$2,239	$3.02	3d	18	1.45mi
621 E Mehring Way Cincinnati, OH	1.0–2.0	1.0–2.0	938	$2,249	$2.40	2d	12	1.47mi
211 W 9th St Unit 5 Cincinnati, OH	2.0	1.5	900	$1,300	$1.44	3d	1	1.49mi
19 Garfield Pl Cincinnati, OH	1.0–2.0	1.0–2.0	1680	$2,260	$1.34	2d	11	1.49mi
19 Garfield Pl Cincinnati, OH	1.0–2.0	1.0–2.0	1054	$2,300	$2.18	44d	20	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $155,000 Active 26 DOM
2. 2026-06-17
   days on market $155,000 Active 25 DOM
3. 2026-06-16
   days on market $155,000 Active 24 DOM
4. 2026-06-15
   remarks 673-char remark
5. 2026-06-15
   days on market $155,000 Active 23 DOM
6. 2026-06-09
   days on market $155,000 Active 17 DOM
7. 2026-06-08
   days on market $155,000 Active 16 DOM
8. 2026-06-07
   days on market $155,000 Active 15 DOM
9. 2026-06-03
   days on market $155,000 Active 11 DOM
10. 2026-06-02
    days on market $155,000 Active 10 DOM
11. 2026-06-01
    days on market $155,000 Active 9 DOM
12. 2026-05-31
    days on market $155,000 Active 8 DOM
13. 2026-05-23
    listed $155,000 Active
14. 2017-05-31
    soldstatus $41,500 351-char remark

    Show marketing remark (351 chars)

    Lots of potential in this home conveniently located within walking distance to Mainstrasse! Spacious rooms and high ceilings. Bonus room can be a huge walk-in closet, or a first floor laundry room off the master bedroom. Private parking in your own driveway. This home is ready for your imagination & some TLC. Priced to sell and being sold as is.

15. 2016-12-15
    listed $52,900 351-char remark

    Show marketing remark (351 chars)

    Lots of potential in this home conveniently located within walking distance to Mainstrasse! Spacious rooms and high ceilings. Bonus room can be a huge walk-in closet, or a first floor laundry room off the master bedroom. Private parking in your own driveway. This home is ready for your imagination & some TLC. Priced to sell and being sold as is.

16. 2016-02-17
    soldstatus $30,000 125-char remark

    Show marketing remark (125 chars)

    Great location, great space, needs quiite a bit of work but bring your ideas and it can make a great rental or rehab project.

17. 2015-12-30
    listed $32,500 125-char remark

    Show marketing remark (125 chars)

    Great location, great space, needs quiite a bit of work but bring your ideas and it can make a great rental or rehab project.

ⓘ 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: $1,040 · $87/mo
• Projected year-2 tax: $1,333 · $111/mo
• Expected delta: +$293/yr (+$24/mo · 28.2%)

ⓘ 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: $26,549
• − Mortgage interest: −$8,682
• − Property taxes: −$1,040
• − Insurance: −$775
• − Repairs & maintenance: −$2,124
• − Management: −$2,124
• − Depreciation: −$4,509
• Taxable income: $7,295
• Est. tax owed @ 24.0%: −$1,751
• After-tax cash flow: $7,654/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

+376.9% since first listed

5 events — show timeline

• 2026-05-23 Listed $155,000 NKMLS
• 2017-05-31 Sold (MLS) $41,500 NKMLS
• 2016-12-15 Listed $52,900 NKMLS
• 2016-02-17 Sold (MLS) $30,000 NKMLS
• 2015-12-30 Listed $32,500 NKMLS

Property tax history

+15.3%/yr

Latest (2025): $1,040 · +0.7% YoY. Source: county tax records.