20 Woodland Hills Dr #10 · Southgate, KY 41071

$120,000

2 bd · 2.0 ba · 980 sqft · Condo public records · 32 Days on market

Built 1987 $260/mo HOA · 18% of rent

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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 +18.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• DSCR +5.7/10.0
• Livability +4.2/5.0
• 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

Aspen model on 3rd floor with cathedral ceilings. Condo is located on rear side of building with wooded view from wood deck. New carpet and awesome wood burning fireplace. Long time owners who have taken care of their home. Approved for FHA & Rural Housing financing

Key facts

• Clubhouse
• Community amenities
• Pool

Tags

• PRIVATE RETREAT
• COMMUNITY AMENITIES
• CLUBHOUSE
• POOL

Property features AI

Finance

• Other: Directions: Alexandria Pike to Southgate, left on KY-1632, left on Woodland Hills Dr
• HOA & community: Monthly association fee of $260; Community amenities: landscaping, pool, clubhouse, fitness center; Association covers grounds and structure maintenance, security, and snow removal

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Cable available; Sewer available; Water available
• Home design: Condominium; Three or more levels; Entry level: 1
• Construction: Brick construction; Built in 1987; Poured concrete foundation
• Exterior features: Shingle roof; Irregular lot

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom (14 x 12); Bedroom 2 (13 x 12)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump and electric heating; Central air conditioning
• Interior features: Fireplace; Electric range; Dishwasher; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.1% in Southgate — 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 85/100 on livability (#45 in KY, #513 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities F.
• 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: 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; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 247 units permitted in Campbell County in 2024 (77 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y 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 $60k; list at $120k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.19% ✓
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.64% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.70×
• Total profit: $-9,980
• Equity at exit: $17,892

10-year hold

• IRR: 4.1%
• Equity multiple: 1.33×
• Total profit: $10,923
• Equity at exit: $10,375

Cash invested: $33,600 (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 41071

• Rents YoY: 4.6%
• Active inventory: 236
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,422 high
• Mortgage (P&I): −$629
• Tax from tax record: −$75 /mo · $903/yr
• Insurance: −$50
• HOA: −$260
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $109

Break-even live

Break-even rent $1,284

Max offer price $120,000

Occupancy floor 87%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 Woodland Hills Dr #11 Southgate, KY	2.0	2.0	950	$1,445	$1.52	8d	1	0.05mi
400 Lakeview Dr #5 Wilder, KY	2.0	2.0	1100	$1,495	$1.36	3d	1	0.30mi
120 Vista Point Dr Wilder, KY	1.0–2.0	1.0–2.0	854	$1,184	$1.39	2d	2	0.32mi
1700 Aspen Pines Dr Wilder, KY	1.0–3.0	1.0–2.5	1420	$1,895	$1.33	2d	14	0.53mi
926 Ravine Cir Southgate, KY	1.0–3.0	1.0–2.0	954	$1,371	$1.44	2d	6	0.77mi
3949 Vision CIR Southgate, KY	1.0–2.0	1.0–2.0	1132	$2,515	$2.22	2d	10	1.15mi
512 Wallace Ave Unit 512/16 Covington, KY	1.0	1.0	550	$939	$1.71	8d	1	1.22mi
512 Wallace Ave Unit 512/09 Covington, KY	1.0	1.0	550	$899	$1.63	8d	1	1.22mi
512 Wallace Ave Unit 512/18 Covington, KY	2.0	2.0	900	$1,299	$1.44	8d	1	1.22mi
512 Wallace Ave Unit 512/08 Covington, KY	1.0	1.0	550	$899	$1.63	17d	1	1.22mi
2335 Alexandria Pike Southgate, KY	2.0	1.0	557	$1,140	$2.04	2d	17	1.36mi
1914 Eastern Ave Apt 1 Covington, KY	2.0	1.0	750	$1,200	$1.60	24d	1	1.37mi
1914 Eastern Ave Apt 3 Covington, KY	1.0	1.0	900	$995	$1.11	15d	1	1.37mi
1321 Alexandria Pike Fort Thomas, KY	1.0–2.0	1.0	625	$950	$1.52	24d	1	1.49mi
119 W 33rd St Unit 1 Latonia, KY	1.0	1.0	900	$1,075	$1.19	24d	1	1.49mi

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-05-13
   status Pending
2. 2026-04-09
   listed $120,000 Active
3. 2012-03-09
   soldstatus $60,000
4. 2012-02-29
   soldstatus $60,000 270-char remark

   Show marketing remark (270 chars)

   Aspen model on 3rd floor with cathedral ceilings. Condo is located on rear side of building with wooded view from wood deck. New carpet and awesome wood burning fireplace. Long time owners who have taken care of their home. Approved for FHA & Rural Housing financing

5. 2011-09-28
   listed $65,000 270-char remark

   Show marketing remark (270 chars)

   Aspen model on 3rd floor with cathedral ceilings. Condo is located on rear side of building with wooded view from wood deck. New carpet and awesome wood burning fireplace. Long time owners who have taken care of their home. Approved for FHA & Rural Housing financing

ⓘ 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: $903 · $75/mo
• Projected year-2 tax: $1,032 · $86/mo
• Expected delta: +$129/yr (+$11/mo · 14.3%)

ⓘ 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 5/10 Major 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,067
• − Mortgage interest: −$6,722
• − Property taxes: −$903
• − Insurance: −$600
• − Repairs & maintenance: −$1,365
• − Management: −$1,365
• − HOA: −$3,120
• − Depreciation: −$3,491
• Taxable loss: −$499
• Est. tax savings @ 24.0%: +$120
• After-tax cash flow: $1,428/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 — Southgate

• Score: 85/100
• State rank: #45
• US rank: #513

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southgate, 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

+84.6% since first listed

5 events — show timeline

• 2026-05-13 Pending — NKMLS
• 2026-04-09 Listed $120,000 NKMLS
• 2012-03-09 Sold (Public Records) $60,000 Public Records
• 2012-02-29 Sold (MLS) $60,000 NKMLS
• 2011-09-28 Listed $65,000 NKMLS

Property tax history

+3.1%/yr

Latest (2025): $903 · -1.4% YoY. Source: county tax records.