145 Lake St · Bellevue, KY 41073

$375,000

4 bd · 2.0 ba · 1,848 sqft · Other public records · 33 Days on market

Built 1951 4,312 sqft 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 +14.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Livability +4.6/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Upgrades, Upgrades, Upgrades. Here is a perfect opportunity to live on one of Bellevue's best streets and have a rental unit to help pay the mortgage. Minutes from downtown and a short walk from restaurants and shops.

Key facts

• Open floor plan
• Turnkey duplex
• Fully updated

Tags

• TURNKEY DUPLEX
• HISTORIC BELLEVUE
• INVESTMENT OPPORTUNITY
• FULLY UPDATED
• OPEN FLOOR PLAN
• MAJOR IMPROVEMENTS

Property features AI

Exterior

• Parking: Driveway; Rear-facing garage; Two garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer; Natural gas available; Sewer available; Water available
• Home design: Duplex (two levels); Multi-family property; Built in 1951; Has a view; Existing structure
• Construction: Brick construction; Block foundation; Asphalt roof
• Exterior features: Awnings; Vinyl window frames

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Eat-in kitchen; High-speed internet access; Full basement; Fireplace (inoperable)
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $375k.

Deal economics

• At list price, monthly cash flow is $113 ($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 $307k (18.0% below list).
• Recommended offer: $307k (18.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.5% in Bellevue — 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 92/100 on livability (#8 in KY, #24 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Bellevue Independent (suburban): math 17% / reading 33% proficiency, ranked #136 of 165 in KY (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grandview Elementary School (math 8% / reading 32%, grade F, #568 of 676 statewide, top 84%, 277 students, 65% FRL); Bellevue High School (math 22% / reading 32%, grade F, #158 of 254 statewide, top 68%, 362 students, 61% FRL).
• Market conditions: Rents flat; 49 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 247 units permitted in Campbell County in 2024 (77 in 5+ unit buildings).
• At $3,075/mo this rent would consume 52% of the median local household income ($71k/yr) (locally 173% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 3 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 $130k; list at $375k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• 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 $307,497 (18.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — 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. 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?
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: 0.82% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.29%
• DSCR: 1.06
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.19% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.41×
• Total profit: $-62,146
• Equity at exit: $55,914

10-year hold

• IRR: -14.7%
• Equity multiple: 0.26×
• Total profit: $-78,148
• Equity at exit: $32,423

Cash invested: $105,000 (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 41073

• Rents YoY: 0.2%
• Active inventory: 49
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $3,075 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$193 /mo · $2,321/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $113

Break-even live

Break-even rent $2,932

Max offer price $375,000

Occupancy floor 91%

Sensitivity live

Price	-10% $325	-5% $219	+0% $113	+5% $7	+10% $-99
Rent	-10% $-130	-5% $-8	+0% $113	+5% $235	+10% $356
Rate	-1.0pp $302	-0.5pp $208	base $113	+0.5pp $16	+1.0pp $-83

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
236 Ward Ave Bellevue, KY	3.0	2.0	1500	$2,585	$1.72	13d	1	0.36mi
118 Beech St Newport, KY	3.0	2.0	1610	$2,400	$1.49	3d	1	0.37mi
100 Aqua Way Newport, KY	1.0–3.0	1.0–2.0	1092	$3,850	$3.53	3d	4	0.70mi
1055 St Paul Pl Cincinnati, OH	3.0	1.0–2.0	975	$2,995	$3.07	3d	10	0.82mi
601 E Pete Rose Way Cincinnati, OH	3.0	1.0–2.5	1039	$2,936	$2.83	3d	22	0.87mi
923 Paradrome St Cincinnati, OH	3.0	2.5	2098	$3,000	$1.43	25d	1	0.87mi
1287 Ida St Cincinnati, OH	3.0	2.5	2494	$4,700	$1.88	19d	1	0.96mi
516 E 12th St Unit 1314562P Cincinnati, OH	4.0	2.0	2023	$10,170	$5.03	25d	1	1.23mi
1304 Broadway Unit 1056130P Cincinnati, OH	1.0–5.0	1.0–4.0	2072	$7,152	$3.45	12d	2	1.36mi
1326 Broadway Unit 1324946P Cincinnati, OH	1.0–3.0	1.0–3.0	1162	$10,683	$9.19	25d	2	1.39mi
918 Windsor St Cincinnati, OH	3.0	1.0	2583	$1,675	$0.65	25d	1	1.40mi
424 Liberty Hl Unit 1056033P Cincinnati, OH	3.0	2.0	1453	$5,780	$3.98	3d	1	1.40mi
2331 Park Ave Unit 1 Cincinnati, OH	3.0	2.5	2200	$2,350	$1.07	3d	1	1.41mi
1354 Broadway Unit 1056136P Cincinnati, OH	4.0	3.0	2529	$7,307	$2.89	4d	1	1.43mi
923 Rogers Pl Cincinnati, OH	3.0	1.0	2061	$1,600	$0.78	25d	1	1.43mi
2025 Burnet Ave Unit 2 Cincinnati, OH	3.0	2.0	1513	$1,795	$1.19	5d	1	1.45mi
1410 Mansfield St Apt 4 Cincinnati, OH	3.0	2.0	1412	$2,387	$1.69	12d	1	1.47mi
1410 Mansfield St Apt 3 Cincinnati, OH	3.0	2.0	1412	$2,401	$1.70	12d	1	1.47mi

Listing history 21 events

1. 2026-06-21
   days on market $375,000 Active 33 DOM
2. 2026-06-18
   days on market $375,000 Active 30 DOM
3. 2026-06-17
   days on market $375,000 Active 29 DOM
4. 2026-06-16
   days on market $375,000 Active 28 DOM
5. 2026-06-15
   days on market $375,000 Active 27 DOM
6. 2026-06-13
   days on market $375,000 Active 25 DOM
7. 2026-06-13
   days on market $375,000 Active 24 DOM
8. 2026-06-09
   days on market $375,000 Active 21 DOM
9. 2026-06-08
   days on market $375,000 Active 20 DOM
10. 2026-06-07
    days on market $375,000 Active 19 DOM
11. 2026-06-03
    days on market $375,000 Active 15 DOM
12. 2026-06-02
    days on market $375,000 Active 14 DOM
13. 2026-06-01
    days on market $375,000 Active 13 DOM
14. 2026-05-31
    days on market $375,000 Active 12 DOM
15. 2026-05-19
    listed $385,000 Active
16. 2011-01-03
    soldstatus $130,000
17. 2010-12-30
    soldstatus $130,000 217-char remark

    Show marketing remark (217 chars)

    Upgrades, Upgrades, Upgrades. Here is a perfect opportunity to live on one of Bellevue's best streets and have a rental unit to help pay the mortgage. Minutes from downtown and a short walk from restaurants and shops.

18. 2010-10-21
    listed $144,000 217-char remark

    Show marketing remark (217 chars)

    Upgrades, Upgrades, Upgrades. Here is a perfect opportunity to live on one of Bellevue's best streets and have a rental unit to help pay the mortgage. Minutes from downtown and a short walk from restaurants and shops.

19. 2001-10-12
    soldstatus $115,000
20. 2001-09-22
    soldstatus $115,000 214-char remark

    Show marketing remark (214 chars)

    Nice Brick 2 Family. Average Rents Between $525-$575. Nice Hardwood Floor Good Condition. Central Air/ Separate Utilities. Roof Appr. 3 Yrs Old. Newer Windows. Fenced Yard. 2 Car Garage. Good Income. Close To Town.

21. 2001-07-05
    listed $122,500 214-char remark

    Show marketing remark (214 chars)

    Nice Brick 2 Family. Average Rents Between $525-$575. Nice Hardwood Floor Good Condition. Central Air/ Separate Utilities. Roof Appr. 3 Yrs Old. Newer Windows. Fenced Yard. 2 Car Garage. Good Income. Close To Town.

ⓘ 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: $2,321 · $193/mo
• Projected year-2 tax: $3,225 · $269/mo
• Expected delta: +$904/yr (+$75/mo · 39.0%)

ⓘ 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 ≥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: $36,900
• − Mortgage interest: −$21,006
• − Property taxes: −$2,321
• − Insurance: −$1,875
• − Repairs & maintenance: −$2,952
• − Management: −$2,952
• − Depreciation: −$10,909
• Taxable loss: −$5,115
• Est. tax savings @ 24.0%: +$1,228
• After-tax cash flow: $2,584/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: Bellevue Independent
• NCES district ID: 2100420
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 33% ▼ -12.00%
• Median HH income: $51,374
• Composite: 22.13/100
• National rank: #8173
• State rank: #136 of 165 in KY

Livability — Bellevue

• Score: 92/100
• State rank: #8
• US rank: #24

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellevue, KY
• County: Campbell County · 84,793 people
• City population: 5,636
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 5,636
• Household income: $71,166
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 173.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Lithuanian 3% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 2%

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: ▼ -186.80%
• Current HPI: 252.0078
• Rent YoY: ▲ 0.19%
• 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

+214.3% since first listed

7 events — show timeline

• 2026-05-19 Listed $385,000 NKMLS
• 2011-01-03 Sold (Public Records) $130,000 Public Records
• 2010-12-30 Sold (MLS) $130,000 NKMLS
• 2010-10-21 Listed $144,000 NKMLS
• 2001-10-12 Sold (Public Records) $115,000 Public Records
• 2001-09-22 Sold (MLS) $115,000 NKMLS
• 2001-07-05 Listed $122,500 NKMLS

Property tax history

+3.2%/yr

Latest (2025): $2,321 · +0.5% YoY. Source: county tax records.