218 Pleasant St · Covington, KY 41011

$80,000

2 bd · 1.0 ba · 1,476 sqft · SingleFamily public records · 10 Days on market

2,225 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Investor Special. Come and see this 2 bedroom 2 bath home ready for your vision. Acknowledgement and hold harmless form signed is required prior to approval of appointments . Please text listing agent with any questions. SOLD AS IS. CASH ONLY.

Key facts

• 2,225 sq ft lot
• Parking
• Listed 10 days

Property features AI

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Single family residence; Two levels; Existing structure
• Construction: Stone foundation
• Exterior features: Composition/Shingle roof; Brick exterior; Lot approximately 0.05 acres

Interior

• Kitchen: Refrigerator; Kitchen (14 x 12)
• Bedrooms: Primary bedroom (20 x 14); Bedroom 2 (12 x 10)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Fireplace; Partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $825 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 19.7% 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; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 31% 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 $553 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.28% ✓
• Cap rate: 19.66%
• Cash-on-cash: 47.74%
• DSCR: 3.12
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $231,732
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 Pleasant St	0.00mi	2/2.0	1,476 (0%)	1mo	$80,000	$54	96
329 E 16th St	0.36mi	2/2.0	1,454 (-2%)	2mo	$90,000	$62	75
516 W 12th St	0.51mi	3/2.0 (+1)	1,434 (-3%)	2mo	$260,000	$181	60
222 Berry St	0.52mi	2/1.0	1,620 (+10%)	2mo	$385,000	$238	58
1942 Eastern Ave	0.69mi	3/1.5 (+1)	1,418 (-4%)	0mo	$200,000	$141	54
939 Patterson St	0.64mi	3/1.0 (+1)	1,392 (-6%)	2mo	$127,500	$92	54
533 Lindsey St	0.51mi	3/2.0 (+1)	1,586 (+8%)	1mo	$252,000	$159	54
335 Keturah St	0.70mi	2/1.0	1,361 (-8%)	3mo	$213,500	$157	52
318 Thornton St	0.67mi	3/1.0 (+1)	1,586 (+8%)	2mo	$225,000	$142	49
324 W 9th St	0.69mi	1/1.0 (-1)	1,278 (-13%)	1mo	$215,000	$168	40
515 Delmar Pl	0.66mi	3/2.0 (+1)	1,696 (+15%)	2mo	$195,500	$115	34
1735 Woodburn Ave	0.74mi	3/1.5 (+1)	1,255 (-15%)	1mo	$259,900	$207	33

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: 39.4%
• Equity multiple: 2.65×
• Total profit: $36,998
• Equity at exit: $11,928

10-year hold

• IRR: 45.1%
• Equity multiple: 5.00×
• Total profit: $89,649
• Equity at exit: $6,917

Cash invested: $22,400 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,828 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $825

Break-even live

Break-even rent $784

Max offer price $80,000

Occupancy floor 50%

Sensitivity live

Price	-10% $880	-5% $852	+0% $825	+5% $797	+10% $769
Rent	-10% $680	-5% $752	+0% $825	+5% $897	+10% $969
Rate	-1.0pp $865	-0.5pp $845	base $825	+0.5pp $804	+1.0pp $783

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
344 E 13th St Unit 1 Covington, KY	2.0	1.0	1000	$1,275	$1.27	24d	1	0.14mi
1025 Scott St Unit 2 Covington, KY	2.0	2.0	1100	$1,800	$1.64	3d	1	0.30mi
634 Greenup St Covington, KY	1.0	1.5	1050	$1,595	$1.52	8d	1	0.52mi
521 Garrard St Apt 3 Covington, KY	1.0	1.0	875	$1,996	$2.28	15d	1	0.60mi
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	24d	1	0.61mi
1914 Eastern Ave Apt 3 Covington, KY	1.0	1.0	900	$995	$1.11	15d	1	0.64mi
508 Greenup St Unit 508-02 Covington, KY	2.0	1.0	1220	$1,800	$1.48	2d	1	0.65mi
1927 Scott St Apt 1 Covington, KY	3.0	2.0	1865	$2,100	$1.13	20d	1	0.67mi
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	5d	1	0.74mi
809 Isabella St Newport, KY	2.0	2.0	1519	$2,200	$1.45	44d	1	0.75mi
203 W 8th St Newport, KY	2.0	1.5	1456	$2,300	$1.58	22d	1	0.82mi
128 W 9th St Newport, KY	2.0	1.0	1012	$1,650	$1.63	2d	1	0.83mi
103 E 3rd St Covington, KY	2.0	2.5	1291	$3,250	$2.52	2d	1	0.83mi
1114 Columbia St Unit 2 Newport, KY	1.0	1.0	925	$1,550	$1.68	44d	1	0.85mi
512 Wallace Ave Unit 512/18 Covington, KY	2.0	2.0	900	$1,299	$1.44	8d	1	0.85mi
210 W 5th St Newport, KY	1.0–2.0	1.0–2.0	845	$1,800	$2.13	3d	15	0.93mi
515 Main St Covington, KY	1.0–2.0	1.0–2.0	934	$2,215	$2.37	2d	8	0.94mi
911 Putnam St #2 Newport, KY	2.0	1.0	1000	$1,600	$1.60	22d	1	0.94mi
50 W Rivercenter Blvd Covington, KY	1.0–2.0	1.0–2.5	1273	$3,640	$2.86	2d	9	1.00mi
835 York St Unit 2 Newport, KY	1.0	1.0	1000	$1,295	$1.29	18d	1	1.00mi
2307 Center St Covington, KY	3.0	1.5	1216	$1,950	$1.60	8d	1	1.17mi
1044 Washington Ave #2 Newport, KY	2.0	2.0	1250	$1,800	$1.44	44d	1	1.21mi
814 Washington Ave Unit 2 Newport, KY	2.0	2.0	1450	$1,500	$1.03	24d	1	1.24mi
1431 Dixie Hwy Park Hills, KY	1.0–2.0	1.0–2.0	920	$2,553	$2.77	2d	10	1.31mi
929 Boone St Newport, KY	2.0	2.0	1458	$1,495	$1.03	44d	1	1.33mi
229 E 5th St Unit 1 Newport, KY	1.0	1.0	950	$1,225	$1.29	44d	1	1.33mi
100 Aqua Way Newport, KY	1.0–3.0	1.0–2.0	1092	$2,834	$2.60	2d	4	1.40mi
121 E Freedom Way Cincinnati, OH	2.0	1.0–2.0	988	$2,999	$3.03	2d	27	1.42mi
44 W Freedom Way Cincinnati, OH	2.0	1.0–2.0	943	$2,859	$3.03	2d	28	1.46mi
1700 Aspen Pines Dr Wilder, KY	1.0–3.0	1.0–2.5	1420	$1,895	$1.33	2d	14	1.46mi

Listing history 4 events

1. 2026-05-04
   status Pending
2. 2026-04-24
   status Active
3. 2026-04-23
   status Pending
4. 2026-04-10
   listed $80,000 Active

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 99% 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: $21,934
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$1,198
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − Depreciation: −$2,327
• Taxable income: $9,218
• Est. tax owed @ 24.0%: −$2,212
• After-tax cash flow: $7,683/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

4 events — show timeline

• 2026-05-04 Pending — NKMLS
• 2026-04-24 Relisted — NKMLS
• 2026-04-23 Pending — NKMLS
• 2026-04-10 Listed $80,000 NKMLS

Property tax history

+1.4%/yr

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