513 E 6th St · Newport, KY 41071

$710,500

3 bd · 4.0 ba · 2,666 sqft · MultiFamily public records · 101 Days on market

Built 1906 Good condition 7,057 sqft lot $267/sqft · 108% above area

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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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• 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: 1 unit. 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 MLS

Situated on a desirable corner lot at 6th and Park Avenue. This charming 6-unit multi-family property features three 1-bedroom units and three studio units, each with one full bathroom. The building showcases beautiful natural woodwork throughout and is filled with classic character and historic charm. Situated on a desirable corner lot, this property offers excellent visibility and strong rental potential. A great opportunity for investors looking for a well-located property with timeless appeal. This can also be restored to an original single-family historic home.

Key facts

• Natural woodwork
• Historic charm
• Classic character

Tags

• MULTI-FAMILY PROPERTY
• NATURAL WOODWORK
• CLASSIC CHARACTER
• HISTORIC CHARM
• STRONG RENTAL POTENTIAL

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath multifamily listed at $710k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $710k).
• Recommended offer: $647k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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 Intermediate School (math 12% / reading 22%, grade F, #607 of 676 statewide, top 91%, 387 students, 89% FRL); 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); 239 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 247 units permitted in Campbell County in 2024 (77 in 5+ unit buildings).
• At $8,261/mo this rent would consume 165% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $199k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($647k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 28y 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 $175k; list at $710k implies a 306% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $646,555 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.16% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.31%
• DSCR: 1.64
• GRM: 7.2

CMA / ARV

• ARV (median comp): $341,409
• List price: $710,500
• Delta: 108.11%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
224 - 226 E 7th St	0.23mi	4/2.0 (+1)	2,903 (+9%)	2mo	$218,000	$75	59
945 Washington Ave	0.42mi	4/2.5 (+1)	2,573 (-4%)	6mo	$301,000	$117	59
939 Washington Ave	0.41mi	4/4.0 (+1)	2,451 (-8%)	6mo	$302,000	$123	57
531 Lexington Ave	0.20mi	4/2.5 (+1)	2,298 (-14%)	9mo	$450,000	$196	49
807 Central Ave	0.62mi	4/3.0 (+1)	2,554 (-4%)	16mo	$255,000	$100	42
719 Saratoga St	0.29mi	3/2.0	2,284 (-14%)	20mo	$340,000	$149	38
932 Columbia St	0.64mi	4/2.0 (+1)	2,420 (-9%)	13mo	$258,000	$107	30

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: 6.3%
• Equity multiple: 1.25×
• Total profit: $49,475
• Equity at exit: $105,938

10-year hold

• IRR: 16.9%
• Equity multiple: 2.48×
• Total profit: $295,041
• Equity at exit: $61,431

Cash invested: $198,940 (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: 239
• Price-to-rent: 37.2×

Monthly cashflow live

• Estimated rent: $8,261 medium
• Mortgage (P&I): −$3,726
• Tax from tax record: −$132 /mo · $1,583/yr
• Insurance: −$296
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,735
• Net cashflow: $2,372

Break-even live

Break-even rent $5,258

Max offer price $710,500

Occupancy floor 66%

Sensitivity live

Price	-10% $2,774	-5% $2,573	+0% $2,372	+5% $2,171	+10% $1,970
Rent	-10% $1,720	-5% $2,046	+0% $2,372	+5% $2,699	+10% $3,025
Rate	-1.0pp $2,730	-0.5pp $2,553	base $2,372	+0.5pp $2,188	+1.0pp $2,001

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$4,770
▸ 3× units	0	1	$3,492
Total (6 units)			$8,261

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: $177,625
• Closing costs: $21,315
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
987 Hill St Cincinnati, OH	3.0	3.0	2878	$7,000	$2.43	3d	1	0.89mi
140 W 13th St Newport, KY	3.0	3.5	2505	$4,200	$1.68	13d	1	0.95mi
923 Paradrome St Cincinnati, OH	3.0	2.5	2098	$3,000	$1.43	25d	1	1.15mi
634 Sycamore St Cincinnati, OH	2.0	1.0–1.5	1261	$2,615	$2.07	6d	9	1.22mi
1287 Ida St Cincinnati, OH	3.0	2.5	2494	$4,700	$1.88	18d	1	1.27mi
1 W 4th St Cincinnati, OH	3.0	1.0–3.5	1675	$9,200	$5.49	4d	96	1.33mi
516 E 12th St Unit 1314562P Cincinnati, OH	4.0	2.0	2023	$10,170	$5.03	25d	1	1.39mi
1304 Broadway Unit 1056130P Cincinnati, OH	1.0–5.0	1.0–4.0	2072	$5,808	$2.80	12d	2	1.50mi

Listing history 30 events

1. 2026-06-21
   days on market $710,500 Active 101 DOM
2. 2026-06-18
   days on market $710,500 Active 98 DOM
3. 2026-06-17
   days on market $710,500 Active 97 DOM
4. 2026-06-16
   days on market $710,500 Active 96 DOM
5. 2026-06-15
   days on market $710,500 Active 95 DOM
6. 2026-06-13
   days on market $710,500 Active 93 DOM
7. 2026-06-09
   days on market $710,500 Active 89 DOM
8. 2026-06-08
   days on market $710,500 Active 88 DOM
9. 2026-06-07
   days on market $710,500 Active 87 DOM
10. 2026-06-05
    days on market $710,500 Active 84 DOM
11. 2026-06-03
    days on market $710,500 Active 83 DOM
12. 2026-06-02
    days on market $710,500 Active 82 DOM
13. 2026-06-01
    days on market $710,500 Active 81 DOM
14. 2026-05-31
    days on market $710,500 Active 80 DOM
15. 2026-03-31
    price $710,500 573-char remark

    Show marketing remark (573 chars)

    Situated on a desirable corner lot at 6th and Park Avenue. This charming 6-unit multi-family property features three 1-bedroom units and three studio units, each with one full bathroom. The building showcases beautiful natural woodwork throughout and is filled with classic character and historic charm. Situated on a desirable corner lot, this property offers excellent visibility and strong rental potential. A great opportunity for investors looking for a well-located property with timeless appeal. This can also be restored to an original single-family historic home.

16. 2026-03-12
    listed $725,000 Active 573-char remark

    Show marketing remark (573 chars)

    Situated on a desirable corner lot at 6th and Park Avenue. This charming 6-unit multi-family property features three 1-bedroom units and three studio units, each with one full bathroom. The building showcases beautiful natural woodwork throughout and is filled with classic character and historic charm. Situated on a desirable corner lot, this property offers excellent visibility and strong rental potential. A great opportunity for investors looking for a well-located property with timeless appeal. This can also be restored to an original single-family historic home.

17. 2021-12-31
    historical
18. 2021-12-31
    historical
19. 2021-06-03
    price $499,000
20. 2021-06-03
    price $499,000
21. 2020-08-03
    price $529,000
22. 2020-08-03
    price $529,000
23. 2020-06-16
    status Active
24. 2020-06-16
    historical
25. 2020-06-11
    listed $549,900 Active
26. 2020-06-08
    listed $549,900 Active
27. 2001-11-20
    soldstatus $174,900
28. 2001-11-20
    soldstatus $174,900
29. 1998-03-25
    listed $189,900
30. 1998-03-25
    listed $189,900

ⓘ 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: $1,583 · $132/mo
• Projected year-2 tax: $6,110 · $509/mo
• Expected delta: +$4,527/yr (+$377/mo · 286.0%)

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

Taxation est. · year 1

• Rental income: $99,132
• − Mortgage interest: −$39,799
• − Property taxes: −$1,583
• − Insurance: −$3,552
• − Repairs & maintenance: −$7,931
• − Management: −$7,931
• − Depreciation: −$20,669
• Taxable income: $17,667
• Est. tax owed @ 24.0%: −$4,240
• After-tax cash flow: $24,227/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 75/100 Cosmetic rehab

This charming multi-family property is in good condition with cosmetic updates, offering strong rental potential and a great investment opportunity.

Value-add opportunities

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

Renovation cost estimate screening

Value-add ROI direction

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

ⓘ 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

+274.1% since first listed

16 events — show timeline

• 2026-03-31 Price Changed $710,500 NKMLS
• 2026-03-12 Listed $725,000 NKMLS
• 2021-12-31 Listing Removed — NKMLS
• 2021-12-31 Listing Removed — NKMLS
• 2021-06-03 Price Changed $499,000 NKMLS
• 2021-06-03 Price Changed $499,000 NKMLS
• 2020-08-03 Price Changed $529,000 NKMLS
• 2020-08-03 Price Changed $529,000 NKMLS
• 2020-06-16 Relisted — NKMLS
• 2020-06-16 Listing Removed — NKMLS
• 2020-06-11 Listed $549,900 NKMLS
• 2020-06-08 Listed $549,900 NKMLS
• 2001-11-20 Sold (MLS) $174,900 NKMLS
• 2001-11-20 Sold (MLS) $174,900 NKMLS
• 1998-03-25 Listed $189,900 NKMLS
• 1998-03-25 Listed $189,900 NKMLS

Property tax history

-2.1%/yr

Latest (2025): $1,583 · -3.1% YoY. Source: county tax records.