1611 Monroe St · Covington, KY 41014

$144,900

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 34 Days on market

Built 1952 7,199 sqft lot Est $161k · 10% under

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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 +22.1/30.0
• ARV discount +11.9/15.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two Bedroom Cottage with City View and a Detached Garage. This home needs some TLC. It has a Newer Furnace and Hot Water Heater. Located Close to I-75 and Bus Line. Being sold As-IS and offering a one year HSA Home Warranty.

Key facts

• Natural light
• Raised deck
• Convenient location

Tags

• SPACIOUS LIVING AREAS
• NATURAL LIGHT
• RAISED DECK
• CONVENIENT LOCATION

Property features AI

Exterior

• Parking: Driveway and off-street parking; 1-car garage
• Utilities: Public water; Public sewer; Natural gas available; Water and sewer available
• Home design: Single-family house; One level; Shingle roof; Has a view; Wood siding; Built in 1952
• Construction: Wood siding construction; Shingle roof; Crawl space foundation; Built in 1952
• Exterior features: Cleared, sloped lot; Paved road frontage on a state road

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: Primary bedroom (12 x 12); Second bedroom (9 x 12)
• Bathrooms: One full bathroom (5 x 9)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Crawl space basement; Private yard; Deck
• Laundry & utility: Washer hookup (main level); Electric dryer hookup (main level)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/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 $143k (1.3% below list).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: Glenn O Swing Elementary (math 29% / reading 50%, grade F, #208 of 676 statewide, top 34%, 407 students, 78% 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 81% FRL track the district average.
• Market conditions: Rents rising fast (+5.1%/yr); 59 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $4k 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

• It's been on market 34 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $50k; list at $145k implies a 190% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $140,553 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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. 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: 0.99% ✗
• Cap rate: 8.22%
• Cash-on-cash: 6.89%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $160,752
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1624 Woodburn Ave	0.25mi	2/1.0	840 (+3%)	0mo	$105,000	$125	83
1506 St Clair St	0.30mi	1/1.0 (-1)	816 (0%)	5mo	$117,000	$143	77
1502 Morton Ave	0.29mi	1/1.0 (-1)	753 (-8%)	2mo	$153,400	$204	67
629 W 11th St	0.54mi	2/1.0	768 (-6%)	2mo	$99,200	$129	63
1310 Russell St	0.57mi	2/1.0	765 (-6%)	0mo	$179,000	$234	63
1823 Euclid Ave	0.25mi	1/1.0 (-1)	728 (-11%)	7mo	$145,000	$199	59
1629 Russell St	0.38mi	1/1.0 (-1)	736 (-10%)	2mo	$164,000	$223	59
956 Western Ave	0.63mi	2/1.0	765 (-6%)	4mo	$151,000	$197	57
328 W Martin Luther King Jr Blvd	0.56mi	2/1.0	708 (-13%)	1mo	$79,000	$112	51
1319 Holman Ave	0.46mi	2/1.0	928 (+14%)	7mo	$168,000	$181	50
416 W 22nd St	0.52mi	2/2.0	900 (+10%)	6mo	$175,000	$194	49
936 York St	0.69mi	1/1.0 (-1)	882 (+8%)	1mo	$205,000	$232	49

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 · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-5,558
• Equity at exit: $21,605

10-year hold

• IRR: 8.2%
• Equity multiple: 1.68×
• Total profit: $27,501
• Equity at exit: $12,528

Cash invested: $40,572 (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 41014

• Rents YoY: 5.1%
• Active inventory: 59
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,430 high
• Mortgage (P&I): −$760
• Tax from tax record: −$76 /mo · $914/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $233

Break-even live

Break-even rent $1,135

Max offer price $144,900

Occupancy floor 79%

Sensitivity live

Price	-10% $315	-5% $274	+0% $233	+5% $192	+10% $151
Rent	-10% $120	-5% $176	+0% $233	+5% $289	+10% $346
Rate	-1.0pp $306	-0.5pp $270	base $233	+0.5pp $195	+1.0pp $157

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Lee St Unit 1 Covington, KY	1.0	1.0	675	$1,350	$2.00	24d	1	0.52mi
1205 Lee St Unit 2 Covington, KY	1.0	1.0	800	$1,500	$1.88	24d	1	0.52mi
1431 Dixie Hwy Park Hills, KY	1.0–2.0	1.0–2.0	920	$2,553	$2.77	2d	10	0.54mi
918 Highland Ave Fort Wright, KY	1.0	1.0	525	$995	$1.90	21d	1	0.68mi
920 Highland Ave Fort Wright, KY	1.0	1.0	525	$1,045	$1.99	15d	1	0.69mi
1215 Elberta Cir Park Hills, KY	2.0	1.0	825	$1,050	$1.27	4d	1	0.71mi
1002 Parkvale Ct Unit 1002 3 Park Hills, KY	1.0	1.0	750	$925	$1.23	8d	1	0.72mi
1002 Parkvale Ct Unit 1004 1 Park Hills, KY	2.0	1.0	850	$995	$1.17	44d	1	0.72mi
1000 Parkvale Ct Park Hills, KY	2.0	1.0	850	$1,495	$1.76	44d	1	0.72mi
1025 Scott St Unit 2 Covington, KY	2.0	2.0	1100	$1,800	$1.64	3d	1	0.91mi
2220 Cityscape Dr Covington, KY	1.0–2.0	1.0–2.0	932	$1,985	$2.13	2d	9	0.94mi
1914 Eastern Ave Apt 1 Covington, KY	2.0	1.0	750	$1,200	$1.60	24d	1	1.00mi
1914 Eastern Ave Apt 3 Covington, KY	1.0	1.0	900	$995	$1.11	15d	1	1.00mi
344 E 13th St Unit 1 Covington, KY	2.0	1.0	1000	$1,275	$1.27	24d	1	1.02mi
512 Wallace Ave Unit 512/08 Covington, KY	1.0	1.0	550	$899	$1.63	17d	1	1.05mi
512 Wallace Ave Unit 512/18 Covington, KY	2.0	2.0	900	$1,299	$1.44	8d	1	1.05mi
512 Wallace Ave Unit 512/09 Covington, KY	1.0	1.0	550	$899	$1.63	8d	1	1.05mi
512 Wallace Ave Unit 512/16 Covington, KY	1.0	1.0	550	$939	$1.71	8d	1	1.05mi
515 Main St Covington, KY	1.0–2.0	1.0–2.0	934	$2,215	$2.37	2d	8	1.11mi
218 W 5th St Covington, KY	1.0	1.0	800	$1,595	$1.99	15d	1	1.15mi
634 Greenup St Covington, KY	1.0	1.5	1050	$1,595	$1.52	8d	1	1.19mi
521 Garrard St Apt 4 Covington, KY	1.0	1.0	725	$1,695	$2.34	17d	1	1.29mi
521 Garrard St Apt 1 Covington, KY	1.0	1.5	825	$1,895	$2.30	17d	1	1.29mi
521 Garrard St Apt 3 Covington, KY	1.0	1.0	875	$1,996	$2.28	15d	1	1.29mi
521 Garrard St Apt 6 Covington, KY	1.0	1.0	775	$1,995	$2.57	16d	1	1.29mi
521 Garrard St Apt 2 Covington, KY	1.0	1.0	725	$1,595	$2.20	17d	1	1.29mi
303 Greenup St Covington, KY	1.0	1.0	678	$1,445	$2.13	24d	1	1.43mi
119 W 33rd St Unit 1 Latonia, KY	1.0	1.0	900	$1,075	$1.19	24d	1	1.44mi
50 W Rivercenter Blvd Covington, KY	1.0–2.0	1.0–2.5	1273	$3,640	$2.86	2d	9	1.46mi
5 Devou Woods Covington, KY	2.0	1.0	700	$890	$1.27	2d	1	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $144,900 Active 34 DOM
2. 2026-06-17
   days on market $144,900 Active 33 DOM
3. 2026-06-16
   days on market $144,900 Active 32 DOM
4. 2026-06-15
   days on market $144,900 Active 31 DOM
5. 2026-06-09
   days on market $144,900 Active 25 DOM
6. 2026-06-08
   days on market $144,900 Active 24 DOM
7. 2026-06-07
   days on market $144,900 Active 23 DOM
8. 2026-06-03
   days on market $144,900 Active 19 DOM
9. 2026-06-02
   days on market $144,900 Active 18 DOM
10. 2026-06-01
    days on market $144,900 Active 17 DOM
11. 2026-05-31
    days on market $144,900 Active 16 DOM
12. 2026-05-15
    status Active
13. 2026-05-14
    listed $144,900 Active
14. 2026-05-14
    historical
15. 2020-12-22
    soldstatus $50,000 Closed 224-char remark

    Show marketing remark (224 chars)

    Two Bedroom Cottage with City View and a Detached Garage. This home needs some TLC. It has a Newer Furnace and Hot Water Heater. Located Close to I-75 and Bus Line. Being sold As-IS and offering a one year HSA Home Warranty.

16. 2020-12-10
    status Pending 224-char remark

    Show marketing remark (224 chars)

    Two Bedroom Cottage with City View and a Detached Garage. This home needs some TLC. It has a Newer Furnace and Hot Water Heater. Located Close to I-75 and Bus Line. Being sold As-IS and offering a one year HSA Home Warranty.

17. 2020-11-28
    listed $59,000 Active 224-char remark

    Show marketing remark (224 chars)

    Two Bedroom Cottage with City View and a Detached Garage. This home needs some TLC. It has a Newer Furnace and Hot Water Heater. Located Close to I-75 and Bus Line. Being sold As-IS and offering a one year HSA Home Warranty.

18. 1986-05-22
    soldstatus $23,500

ⓘ 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: $914 · $76/mo
• Projected year-2 tax: $1,246 · $104/mo
• Expected delta: +$332/yr (+$28/mo · 36.3%)

ⓘ 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 ≥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: $17,155
• − Mortgage interest: −$8,117
• − Property taxes: −$914
• − Insurance: −$724
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$4,215
• Taxable income: $440
• Est. tax owed @ 24.0%: −$106
• After-tax cash flow: $2,690/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): 7,392
• Household income: $61,382
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 511.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 10% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -172.77%
• Current HPI: 233.8216
• Rent YoY: ▲ 5.13%
• 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

+516.6% since first listed

7 events — show timeline

• 2026-05-15 Relisted — NKMLS
• 2026-05-14 Listing Removed — NKMLS
• 2026-05-14 Listed $144,900 NKMLS
• 2020-12-22 Sold (MLS) $50,000 NKMLS
• 2020-12-10 Pending — NKMLS
• 2020-11-28 Listed $59,000 NKMLS
• 1986-05-22 Sold (Public Records) $23,500 Public Records

Property tax history

-0.1%/yr

Latest (2025): $914 · +0.7% YoY. Source: county tax records.