2714 Ashland Ave · Covington, KY 41015

$349,900

5 bd · 2.0 ba · 2,520 sqft · SingleFamily public records · 3 Days on market

Built 1948 0.29 ac lot

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Why this score? — see what drove the D 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 +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Livability +4.3/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

One of a kind property on a great lot in a super convenient location. Very large house with a huge unfinished basement with fireplace, one car built in garage and a 2 car detached garage. New roof, windows, glass block in basement, HVAC, water heater, beautiful refinished hardwood flooring throughout. New kitchen cabinets, granite counter tops and stainless appliances in the first floor kitchen and also in the kitchenette on the second floor. New lighting and updated bathrooms. Nice covered side porch. Two fireplaces, large driveway for parking many cars. This can be a 4-6 bedroom home. Many possibilities. Immediate occupancy.

Key facts

• Unfinished basement
• Stainless appliances
• New kitchen cabinets

Tags

• UNFINISHED BASEMENT
• NEW ROOF
• NEW KITCHEN CABINETS
• GRANITE COUNTER TOPS
• STAINLESS APPLIANCES
• UPDATED BATHROOMS

Property features AI

Exterior

• Parking: Detached garage; 3-car garage; Driveway; Garage door opener
• Utilities: Public water; Public sewer; Cable available; Water available
• Home design: Two-story single family house; Brick construction; Entry level not specified; Facing direction not specified
• Construction: Built in 1948; Brick construction; Shingle roof; Block foundation; Vinyl window frames
• Exterior features: Covered porch; Cleared, level lot; City street frontage; Paved road access; Has view

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Kitchenette (separate kitchenette adjoining bonus room)
• Bedrooms: Primary bedroom (level unspecified) — large primary suite; Bedroom 2 (level unspecified); Bedroom 3 (level unspecified); Bedroom 4 (level unspecified); Bedroom 5 (level unspecified); Bonus room (adjoins to kitchenette)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Forced air heating
• Interior features: Granite counters; Chandelier; Ceiling fan(s); Decorative, inoperable fireplace

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/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 $288k (17.8% below list).
• Recommended offer: $288k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.3% in Covington — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Ninth District Elementary (math 2% / reading 17%, grade F, #648 of 676 statewide, top 98%, 341 students, 87% 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).
• Market conditions: 158 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $287,500 (17.8% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.82% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.06%
• DSCR: 1.05
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $183,960
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3213 Decoursey Ave	0.50mi	4/2.0 (-1)	2,256 (-10%)	11mo	$165,000	$73	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-51,291
• Equity at exit: $52,171

10-year hold

• IRR: -6.0%
• Equity multiple: 0.61×
• Total profit: $-37,978
• Equity at exit: $30,253

Cash invested: $97,972 (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 41015

• Active inventory: 158
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,875 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$204 /mo · $2,449/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $86

Break-even live

Break-even rent $2,766

Max offer price $349,900

Occupancy floor 92%

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1808 Holman Ave Covington, KY	6.0	2.5	2600	$2,875	$1.11	1d	1	1.11mi

Listing history 2 events

1. 2026-05-17
   status Pending
2. 2026-05-14
   listed $349,900 Active

ⓘ 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: $2,449 · $204/mo
• Projected year-2 tax: $3,009 · $251/mo
• Expected delta: +$560/yr (+$47/mo · 22.9%)

ⓘ 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 · 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: $34,500
• − Mortgage interest: −$19,600
• − Property taxes: −$2,449
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,760
• − Management: −$2,760
• − Depreciation: −$10,179
• Taxable loss: −$4,997
• Est. tax savings @ 24.0%: +$1,199
• After-tax cash flow: $2,237/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
• City population: 34,373
• Population (ZIP): 20,396

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 (90%)
• Race & ethnicity: White 90% Two or more races 6% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% French/Haitian/Cajun 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: ▼ -110.37%
• Current HPI: 203.7263
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-05-17 Pending — NKMLS
• 2026-05-14 Listed $349,900 NKMLS

Property tax history

+4.8%/yr

Latest (2025): $2,449 · +33.6% YoY. Source: county tax records.