4253 Berrywood Dr #2 · Independence, KY 41051

$145,000

2 bd · 1.0 ba · 1,080 sqft · Townhouse public records · 6 Days on market

Built 1978 1,555 sqft lot Est $158k · 8% under $289/mo HOA · 14% of rent

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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 +26.8/30.0
• ARV discount +11.1/15.0
• DSCR +9.2/10.0
• 1% rule +8.8/10.0
• 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

Very Private condo with unique floor plan. 2 bedrooms on 2nd with jack and jill bath. One bedroom has walk in closet, the primary bedroom has his and her closets. First floor has living room with walkout to the private patio that is enclosed. Nice galley kitchen with counter bar and breakfast area. All appliances stay. This unit has a half bath on the first floor. Walk directly into your home from the attached garage. This home needs minor love and is priced accordingly. These units are not rentable. Don't miss this opportunity!

Key facts

• Unique floor plan
• Attached garage
• Private patio

Tags

• PRIVATE PATIO
• UNIQUE FLOOR PLAN
• WALK IN CLOSET
• ATTACHED GARAGE

Property features AI

Finance

• Other: Located on a city street
• HOA & community: Monthly association fee of $289; Association present

Exterior

• Parking: Assigned garage (garage faces front); 1 garage space
• Security: Security system; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Townhouse; Two levels; Existing structure
• Construction: Brick and vinyl siding exterior; Shingle roof; Built in 1978; Slab foundation
• Exterior features: Patio (enclosed); Privacy fencing; Corner lot; Level lot; Wooded lot

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator; Breakfast room (12 x 10); Kitchen (11 x 7)
• Bedrooms: Primary bedroom with his-and-her closets (17 x 13); Second bedroom (15 x 10)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (electric); Central air conditioning
• Interior features: Walk-in closets; Breakfast bar; Enclosed patio
• Laundry & utility: Washer hookup on main level; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $145k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/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 9.6% 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); 258 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $110k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.38% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.72%
• DSCR: 1.52
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $157,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4253 Berrywood Dr #2	0.00mi	2/1.5	1,080 (0%)	1mo	$143,000	$132	98
1058 Oakgrove Ct #3	0.52mi	2/1.0	1,058 (-2%)	3mo	$155,000	$147	70
4187 Elder Ct #5	0.47mi	2/1.5	1,102 (+2%)	7mo	$161,000	$146	67
1052 Oakwood Ct #3	0.52mi	2/1.5	1,058 (-2%)	9mo	$154,900	$146	63
4183 Elmwood Ct #21	0.43mi	2/1.5	1,164 (+8%)	5mo	$135,000	$116	60
4187 Elder Ct #2	0.47mi	3/1.5 (+1)	1,160 (+7%)	2mo	$170,000	$147	58
4310 Cobblewood Ct	0.63mi	2/1.5	1,160 (+7%)	4mo	$155,000	$134	53
1060 Oakwood Ct #3	0.51mi	2/1.5	936 (-13%)	1mo	$157,000	$168	52
1060 Oakwood Ct #4	0.51mi	2/1.5	958 (-11%)	5mo	$150,000	$157	51
4308 Cobblewood Ct	0.62mi	3/1.5 (+1)	1,160 (+7%)	2mo	$135,000	$116	50
4320 Cobblewood Ct	0.60mi	3/1.5 (+1)	1,160 (+7%)	8mo	$163,600	$141	46
4312 Cobblewood Ct	0.63mi	3/2.5 (+1)	1,218 (+13%)	3mo	$166,000	$136	36

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: 4.2%
• Equity multiple: 1.17×
• Total profit: $6,780
• Equity at exit: $21,620

10-year hold

• IRR: 16.1%
• Equity multiple: 2.48×
• Total profit: $60,037
• 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: 258
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,001 high
• Mortgage (P&I): −$760
• Tax from tax record: −$75 /mo · $897/yr
• Insurance: −$60
• HOA: −$289
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $396

Break-even live

Break-even rent $1,499

Max offer price $145,000

Occupancy floor 75%

Sensitivity live

Price	-10% $479	-5% $437	+0% $396	+5% $355	+10% $314
Rent	-10% $238	-5% $317	+0% $396	+5% $475	+10% $555
Rate	-1.0pp $469	-0.5pp $433	base $396	+0.5pp $359	+1.0pp $321

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
3924 Trappers Ct Florence, KY	3.0	1.5	1384	$2,380	$1.72	45d	1	0.29mi
9552 Apple Valley Dr Independence, KY	2.0	2.0	1100	$1,456	$1.32	3d	6	0.38mi
1047 Alpine Ct Independence, KY	3.0	2.0	1035	$2,400	$2.32	25d	1	0.59mi
3000 Stoneybrook Ln Elsmere, KY	1.0–2.0	1.0–2.0	989	$1,660	$1.68	5d	17	1.27mi
101 Pinehurst Dr Florence, KY	1.0–2.0	1.0	815	$1,399	$1.72	25d	6	1.36mi

HOA detail

• Monthly dues: $289 · $3,468/yr

Listing history 5 events

1. 2026-04-29
   status Pending
2. 2026-04-23
   listed $145,000 Active
3. 2021-06-14
   soldstatus $110,000
4. 2021-04-08
   soldstatus $70,000
5. 2017-08-11
   soldstatus $125,000

ⓘ 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: $897 · $75/mo
• Projected year-2 tax: $1,247 · $104/mo
• Expected delta: +$350/yr (+$29/mo · 38.9%)

ⓘ 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 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: $24,016
• − Mortgage interest: −$8,122
• − Property taxes: −$897
• − Insurance: −$725
• − Repairs & maintenance: −$1,921
• − Management: −$1,921
• − HOA: −$3,468
• − Depreciation: −$4,218
• Taxable income: $2,742
• Est. tax owed @ 24.0%: −$658
• After-tax cash flow: $4,099/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

+16.0% since first listed

5 events — show timeline

• 2026-04-29 Pending — NKMLS
• 2026-04-23 Listed $145,000 NKMLS
• 2021-06-14 Sold (Public Records) $110,000 Public Records
• 2021-04-08 Sold (Public Records) $70,000 Public Records
• 2017-08-11 Sold (Public Records) $125,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $897 · +7.6% YoY. Source: county tax records.