1146 Waterworks Rd · Woodlawn, KY 41071

$199,900

2 bd · 2.0 ba · 1,643 sqft · SingleFamily public records · 37 Days on market

Built 1912 0.40 ac lot $122/sqft · 30% below area Est $285k · 30% 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• Livability +4.4/5.0
• 1% rule +4.3/10.0
• Schools +4.0/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Elegance and Charm-Hardwood floors throughout-Sunny Solarium adjoins Living Room w/wood burning fireplace & insert-Huge double lot with privacy-The 30 foot Deck can hold even the Largest Party.

Key facts

• Huge double lot
• Hardwood floors
• 0.4 acre lot

Tags

• HARDWOOD FLOORS
• BRIGHT SUNNY SOLARIUM
• COZY WOOD BURNING FIREPLACE
• HUGE DOUBLE LOT
• SPACIOUS 30 FOOT DECK
• EASY ACCESS TO EXPRESSWAY

Property features AI

Exterior

• Parking: Detached garage; Driveway; Garage faces front; 1 garage space
• Utilities: Public water; Public sewer; Cable available; Water available; Sewer available
• Home design: Single family house; One and one-half stories
• Construction: Aluminum siding; Wood siding; Shingle roof; Poured concrete foundation; Built as existing structure
• Exterior features: Deck; Enclosed porch; Porch; Private yard; Cleared lot

Interior

• Kitchen: Electric cooktop; Gas cooktop; Electric oven; Refrigerator
• Bedrooms: Primary bedroom (15 x 14); Bedroom 2 (15 x 17)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Kitchen island; Pantry; Eat-in kitchen; Entrance foyer; Storage; Wood-burning fireplace with insert
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $232 ($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 $187k (6.7% below list).
• Recommended offer: $187k (6.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 88/100 on livability (#23 in KY, #178 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-.
• Campbell County (suburban): math 43% / reading 47% proficiency, ranked #15 of 165 in KY (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crossroads Elementary School (math 39% / reading 37%, grade F, #242 of 676 statewide, top 37%, 613 students, 58% FRL); Campbell County Middle School (math 37% / reading 45%, grade F, #54 of 217 statewide, top 25%, 1,184 students, 45% FRL); Campbell County High School (math 35% / reading 43%, grade F, #51 of 254 statewide, top 21%, 1,551 students, 41% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 236 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 247 units permitted in Campbell County in 2024 (77 in 5+ unit buildings).
• This rent runs 37% of the median local income ($60k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 5 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.
• Current owner paid $132k; list at $200k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,552 (6.7% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — 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. 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: 0.93% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• GRM: 8.9

CMA / ARV

• ARV (median comp): $284,690
• List price: $199,900
• Delta: -29.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 E Crescent Ave	0.14mi	2/1.0	1,620 (-1%)	7mo	$226,000	$140	82
104 Bonnie Leslie Ave	0.23mi	3/1.0 (+1)	1,591 (-3%)	6mo	$293,000	$184	70
1157 Park Ave	0.45mi	2/2.0	1,564 (-5%)	4mo	$290,000	$185	68
506 Center St	0.51mi	2/1.0	1,611 (-2%)	3mo	$315,000	$196	67
5 S Sherry Ln	0.39mi	2/1.5	1,540 (-6%)	6mo	$248,000	$161	65
1200 Wilson Rd	0.19mi	3/1.0 (+1)	1,440 (-12%)	8mo	$319,000	$222	54
927 Boone St	0.69mi	3/2.0 (+1)	1,697 (+3%)	7mo	$287,000	$169	51
727 Linden Ave	0.60mi	2/1.5	1,460 (-11%)	1mo	$302,000	$207	50
611 E 9th St	0.62mi	3/2.0 (+1)	1,533 (-7%)	7mo	$385,000	$251	49
918 Park Ave	0.62mi	2/2.0	1,854 (+13%)	1mo	$280,000	$151	49
820 E 7th St	0.62mi	2/1.5	1,474 (-10%)	4mo	$425,000	$288	49
505 Ward Ave	0.72mi	3/1.5 (+1)	1,536 (-6%)	8mo	$350,000	$228	42

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-14,559
• Equity at exit: $29,806

10-year hold

• IRR: 4.4%
• Equity multiple: 1.35×
• Total profit: $19,373
• Equity at exit: $17,284

Cash invested: $55,972 (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: 236
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,866 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$110 /mo · $1,325/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $232

Break-even live

Break-even rent $1,572

Max offer price $199,900

Occupancy floor 83%

Sensitivity live

Price	-10% $345	-5% $288	+0% $232	+5% $175	+10% $119
Rent	-10% $84	-5% $158	+0% $232	+5% $305	+10% $379
Rate	-1.0pp $332	-0.5pp $283	base $232	+0.5pp $180	+1.0pp $127

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
327 Covert Run Pike Unit 1 Bellevue, KY	2.0	2.0	1580	$1,850	$1.17	24d	1	0.58mi
239 Grandview Ave Bellevue, KY	2.0	2.0	1093	$1,645	$1.50	5d	2	0.69mi
929 Boone St Newport, KY	2.0	2.0	1458	$1,495	$1.03	44d	1	0.69mi
1044 Washington Ave #2 Newport, KY	2.0	2.0	1250	$1,800	$1.44	44d	1	0.76mi
814 Washington Ave Unit 2 Newport, KY	2.0	2.0	1450	$1,500	$1.03	24d	1	0.85mi
118 Beech St Newport, KY	3.0	2.0	1610	$2,400	$1.49	2d	1	1.06mi
236 Ward Ave Bellevue, KY	3.0	2.0	1500	$2,585	$1.72	12d	1	1.11mi
324 Fairfield Ave Unit 4 Bellevue, KY	2.0	1.0	1095	$1,545	$1.41	22d	1	1.11mi
324 Fairfield Ave Unit 1 Bellevue, KY	2.0	1.0	1080	$1,685	$1.56	3d	1	1.11mi
100 Aqua Way Newport, KY	1.0–3.0	1.0–2.0	1092	$2,834	$2.60	2d	4	1.18mi
203 W 8th St Newport, KY	2.0	1.5	1456	$2,300	$1.58	22d	1	1.28mi
809 Isabella St Newport, KY	2.0	2.0	1519	$2,200	$1.45	44d	1	1.33mi
3949 Vision CIR Southgate, KY	1.0–2.0	1.0–2.0	1132	$2,515	$2.22	2d	10	1.38mi
210 W 5th St Newport, KY	1.0–2.0	1.0–2.0	845	$1,800	$2.13	3d	15	1.38mi

Listing history 28 events

1. 2026-06-18
   days on market $199,900 Active 37 DOM
2. 2026-06-17
   days on market $199,900 Active 36 DOM
3. 2026-06-16
   days on market $199,900 Active 35 DOM
4. 2026-06-15
   days on market $199,900 Active 34 DOM
5. 2026-06-13
   days on market $199,900 Active 32 DOM
6. 2026-06-09
   days on market $199,900 Active 28 DOM
7. 2026-06-08
   days on market $199,900 Active 27 DOM
8. 2026-06-07
   days on market $199,900 Active 26 DOM
9. 2026-06-05
   days on market $199,900 Active 23 DOM
10. 2026-06-03
    days on market $199,900 Active 22 DOM
11. 2026-06-02
    days on market $199,900 Active 21 DOM
12. 2026-06-01
    days on market $199,900 Active 20 DOM
13. 2026-05-31
    days on market $199,900 Active 19 DOM
14. 2026-05-12
    listed $199,900 Active 718-char remark
15. 2026-05-04
    price $199,900
16. 2026-04-15
    status Active
17. 2026-04-15
    price $207,000
18. 2026-04-09
    status Pending
19. 2026-04-09
    historical
20. 2026-03-27
    price $214,900
21. 2026-03-13
    listed $220,000 Active
22. 2006-07-26
    soldstatus $132,000
23. 2006-07-21
    soldstatus $132,000

    Show marketing remark (197 chars)

    Elegance and Charm-Hardwood floors throughout-Sunny Solarium adjoins Living Room w/wood burning fireplace & insert-Huge double lot with privacy-The 30 foot Deck can hold even the Largest Party.

24. 2006-04-03
    listed $137,500

    Show marketing remark (197 chars)

    Elegance and Charm-Hardwood floors throughout-Sunny Solarium adjoins Living Room w/wood burning fireplace & insert-Huge double lot with privacy-The 30 foot Deck can hold even the Largest Party.

25. 2001-09-04
    soldstatus $95,500
26. 2001-08-31
    soldstatus $95,500
27. 2001-06-25
    listed $92,900
28. 1994-05-04
    soldstatus $67,900

ⓘ 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: $1,325 · $110/mo
• Projected year-2 tax: $1,719 · $143/mo
• Expected delta: +$395/yr (+$33/mo · 29.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 49% 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: $22,386
• − Mortgage interest: −$11,198
• − Property taxes: −$1,325
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,791
• − Management: −$1,791
• − Depreciation: −$5,815
• Taxable loss: −$532
• Est. tax savings @ 24.0%: +$128
• After-tax cash flow: $2,909/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: Campbell County
• NCES district ID: 2100900
• Math proficiency: 43% ▼ -11.00%
• Reading proficiency: 47% ▼ -14.00%
• Median HH income: $62,891
• Composite: 39.86/100
• National rank: #3864
• State rank: #15 of 165 in KY

Livability — Woodlawn

• Score: 88/100
• State rank: #23
• US rank: #178

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime A- Employment C- Housing A+ Health & safety B User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woodlawn, KY
• County: Campbell County · 84,793 people
• 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

+194.4% since first listed

15 events — show timeline

• 2026-05-12 Listed $199,900 NKMLS
• 2026-05-04 Price Changed $199,900 NKMLS
• 2026-04-15 Relisted — NKMLS
• 2026-04-15 Price Changed $207,000 NKMLS
• 2026-04-09 Pending — NKMLS
• 2026-04-09 Listing Removed — NKMLS
• 2026-03-27 Price Changed $214,900 NKMLS
• 2026-03-13 Listed $220,000 NKMLS
• 2006-07-26 Sold (Public Records) $132,000 Public Records
• 2006-07-21 Sold (MLS) $132,000 NKMLS
• 2006-04-03 Listed $137,500 NKMLS
• 2001-09-04 Sold (Public Records) $95,500 Public Records
• 2001-08-31 Sold (MLS) $95,500 NKMLS
• 2001-06-25 Listed $92,900 NKMLS
• 1994-05-04 Sold (Public Records) $67,900 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,325 · -1.5% YoY. Source: county tax records.