820 Cox Rd

Independence, KY 41051

$265,000D+

4 bd · 2.0 ba · 1,181 sqft · Built 1983 · SingleFamily · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,309/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$485
• Net cashflow: $134/mo
• Annual: $1,612/yr
• Cap rate: 6.90%
• Cash-on-cash: 2.17%
• DSCR: 1.10
• 1% rule: 0.87%
• Cash to close: $74,200

Investor read

• This is a 4-bed/2.0-bath single-family listed at $265k.
• At list price, monthly cash flow is $134 ($2k/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 $231k (12.9% below list).
• It's been on market 16 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $231k (12.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#130 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Kenton County (suburban): math 42% / reading 48% proficiency, ranked #14 of 165 in KY (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: White'S Tower Elementary School (math 60% / reading 64%, grade B, #24 of 676 statewide, top 4%, 631 students, 41% FRL); Woodland Middle School (math 38% / reading 50%, grade D, #40 of 217 statewide, top 19%, 616 students, 48% FRL); Scott High School (math 33% / reading 33%, grade F, #94 of 254 statewide, top 37%, 1,071 students, 42% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 253 active listings in the ZIP; solid renter incomes; 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).
• Kenton County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 17y 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 $150k; list at $265k implies a 77% gain — meaningful room to come down on a strong offer.
• Cap rate 6.9% vs local median 3.7% in Independence — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.