1508 Kavanaugh St · Covington, KY 41011

$175,000

3 bd · 1.0 ba · 1,998 sqft · SingleFamily public records · 53 Days on market

Built 1890 2,500 sqft lot Est $322k · 46% 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 +9.1/10.0
• 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

Instant Equity. This home is ready for a home owner to love it or an investor to add it to their portfolio. Home features natural original woodwork and three, possibly four bedrooms and two full bathrooms. Private backyard and 1/4 miles to I-75 and walking distance to Mainstrasse Village, hospital and the entertainment district. Home could be a masterpiece with dual staircase and full basement.

Key facts

• 2,500 sq ft lot
• Parking
• Built 1890

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Cable available; Natural gas available
• Home design: Single-family house; Two levels; Built in 1890; Has a view
• Construction: Brick construction; Asphalt shingle roof; Stone foundation
• Exterior features: Patio; Porch; Private yard; Wooded lot; City street frontage; Aluminum window frames

Interior

• Kitchen: Eat-in kitchen; Laminate counters
• Bedrooms: Primary bedroom (15 x 15); Bedroom 2 (14 x 14); Bedroom 3 (14 x 14)
• Bathrooms: Two full bathrooms; Primary bath (6 x 8); Second bathroom (5 x 7)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Laminate counters; Eat-in kitchen; Ceiling fans; High ceilings; Natural woodwork; Fireplace (inoperable)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $745 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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); 217 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).
• This rent runs 42% 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 $49k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.41% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.25%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $321,678
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1712 Banklick St	0.37mi	2/2.0 (-1)	1,936 (-3%)	1mo	$230,900	$119	68
812 Main St	0.60mi	3/2.0	1,980 (-1%)	1mo	$241,000	$122	65
1125 Banklick St	0.37mi	3/2.0	2,242 (+12%)	0mo	$500,000	$223	58
1718 Greenup St	0.71mi	3/2.5	1,950 (-2%)	0mo	$310,000	$159	57
945 Philadelphia St	0.41mi	4/2.0 (+1)	2,160 (+8%)	2mo	$80,000	$37	56
16 E 18th St	0.61mi	3/2.5	1,878 (-6%)	1mo	$384,450	$205	54
797 Highland Ave	0.71mi	4/2.5 (+1)	1,998 (0%)	3mo	$322,500	$161	53
1103 Mount Allen Rd	0.58mi	3/2.0	1,800 (-10%)	1mo	$300,000	$167	52
639 W 19th St	0.61mi	4/2.0 (+1)	1,860 (-7%)	1mo	$285,000	$153	50
346 W 9th St	0.54mi	2/2.5 (-1)	1,765 (-12%)	4mo	$310,000	$176	42
1613 Greenup St	0.65mi	4/3.0 (+1)	2,280 (+14%)	4mo	$350,000	$154	30
636 Bakewell St	0.72mi	4/4.0 (+1)	2,264 (+13%)	1mo	$535,000	$236	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: 8.3%
• Equity multiple: 1.32×
• Total profit: $15,592
• Equity at exit: $26,093

10-year hold

• IRR: 16.2%
• Equity multiple: 2.24×
• Total profit: $60,672
• Equity at exit: $15,131

Cash invested: $49,000 (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 41011

• Rents YoY: 1.6%
• Active inventory: 217
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,474 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $745

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 65%

Sensitivity live

Price	-10% $866	-5% $806	+0% $745	+5% $685	+10% $624
Rent	-10% $550	-5% $648	+0% $745	+5% $843	+10% $941
Rate	-1.0pp $833	-0.5pp $790	base $745	+0.5pp $700	+1.0pp $654

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	24d	1	0.24mi
1927 Scott St Apt 1 Covington, KY	3.0	2.0	1865	$2,100	$1.13	21d	1	0.73mi
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	5d	1	0.89mi
103 E 3rd St Covington, KY	2.0	2.5	1291	$3,250	$2.52	2d	1	1.12mi
50 W Rivercenter Blvd Covington, KY	1.0–2.0	1.0–2.5	1273	$3,640	$2.86	2d	9	1.18mi
809 Isabella St Newport, KY	2.0	2.0	1519	$2,200	$1.45	44d	1	1.39mi
203 W 8th St Newport, KY	2.0	1.5	1456	$2,300	$1.58	22d	1	1.46mi

Listing history 24 events

1. 2026-06-21
   days on market $175,000 Active 53 DOM
2. 2026-06-18
   days on market $175,000 Active 50 DOM
3. 2026-06-17
   days on market $175,000 Active 49 DOM
4. 2026-06-16
   days on market $175,000 Active 48 DOM
5. 2026-06-15
   days on market $175,000 Active 47 DOM
6. 2026-06-09
   days on market $175,000 Active 41 DOM
7. 2026-06-08
   days on market $175,000 Active 40 DOM
8. 2026-06-07
   days on market $175,000 Active 39 DOM
9. 2026-06-03
   days on market $175,000 Active 35 DOM
10. 2026-06-02
    days on market $175,000 Active 34 DOM
11. 2026-06-01
    days on market $175,000 Active 33 DOM
12. 2026-05-31
    days on market $175,000 Active 32 DOM
13. 2026-04-29
    listed $175,000 Active
14. 2025-06-26
    soldstatus $160,000 Sold 397-char remark

    Show marketing remark (397 chars)

    Instant Equity. This home is ready for a home owner to love it or an investor to add it to their portfolio. Home features natural original woodwork and three, possibly four bedrooms and two full bathrooms. Private backyard and 1/4 miles to I-75 and walking distance to Mainstrasse Village, hospital and the entertainment district. Home could be a masterpiece with dual staircase and full basement.

15. 2025-05-11
    status Pending 397-char remark

    Show marketing remark (397 chars)

    Instant Equity. This home is ready for a home owner to love it or an investor to add it to their portfolio. Home features natural original woodwork and three, possibly four bedrooms and two full bathrooms. Private backyard and 1/4 miles to I-75 and walking distance to Mainstrasse Village, hospital and the entertainment district. Home could be a masterpiece with dual staircase and full basement.

16. 2025-05-09
    listed $160,000 Active 397-char remark

    Show marketing remark (397 chars)

    Instant Equity. This home is ready for a home owner to love it or an investor to add it to their portfolio. Home features natural original woodwork and three, possibly four bedrooms and two full bathrooms. Private backyard and 1/4 miles to I-75 and walking distance to Mainstrasse Village, hospital and the entertainment district. Home could be a masterpiece with dual staircase and full basement.

17. 2020-06-01
    soldstatus $85,000
18. 2020-04-30
    soldstatus $85,000 Closed 419-char remark

    Show marketing remark (419 chars)

    All brick 3 bedroom 1.5 bath 2 story 1 block from St. E's Hospital. Large eat-in kitchen with walk-out to level fenced yard. Nice front porch. Large sized rooms. Freshly painted, carpets cleaned. Hardwood under carpet, except for kitchen. Additional back staircase off kitchen to 2nd floor Walk to new court house and minutes I-75 & Cincy. 1 year Home Warranty. Priced to sell. Immediate Occupancy. Verify Schools.

19. 2020-04-14
    status Pending 419-char remark

    Show marketing remark (419 chars)

    All brick 3 bedroom 1.5 bath 2 story 1 block from St. E's Hospital. Large eat-in kitchen with walk-out to level fenced yard. Nice front porch. Large sized rooms. Freshly painted, carpets cleaned. Hardwood under carpet, except for kitchen. Additional back staircase off kitchen to 2nd floor Walk to new court house and minutes I-75 & Cincy. 1 year Home Warranty. Priced to sell. Immediate Occupancy. Verify Schools.

20. 2020-04-08
    listed $88,500 Active 419-char remark

    Show marketing remark (419 chars)

    All brick 3 bedroom 1.5 bath 2 story 1 block from St. E's Hospital. Large eat-in kitchen with walk-out to level fenced yard. Nice front porch. Large sized rooms. Freshly painted, carpets cleaned. Hardwood under carpet, except for kitchen. Additional back staircase off kitchen to 2nd floor Walk to new court house and minutes I-75 & Cincy. 1 year Home Warranty. Priced to sell. Immediate Occupancy. Verify Schools.

21. 2002-04-08
    historical
22. 2001-11-06
    listed $69,900
23. 1990-10-17
    soldstatus $34,000
24. 1987-07-22
    soldstatus $32,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥103°F today · 19 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: $29,692
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,375
• − Management: −$2,375
• − Depreciation: −$5,091
• Taxable income: $6,548
• Est. tax owed @ 24.0%: −$1,571
• After-tax cash flow: $7,373/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

+446.9% since first listed

12 events — show timeline

• 2026-04-29 Listed $175,000 NKMLS
• 2025-06-26 Sold (MLS) $160,000 NKMLS
• 2025-05-11 Pending — NKMLS
• 2025-05-09 Listed $160,000 NKMLS
• 2020-06-01 Sold (Public Records) $85,000 Public Records
• 2020-04-30 Sold (MLS) $85,000 NKMLS
• 2020-04-14 Pending — NKMLS
• 2020-04-08 Listed $88,500 NKMLS
• 2002-04-08 Listing Removed — NKMLS
• 2001-11-06 Listed $69,900 NKMLS
• 1990-10-17 Sold (Public Records) $34,000 Public Records
• 1987-07-22 Sold (Public Records) $32,000 Public Records

Property tax history

-20.3%/yr

Latest (2025): $70 · +0.0% YoY. Source: county tax records.