1313 Russell St · Covington, KY 41011

$130,000

3 bd · 1.0 ba · 2,043 sqft · SingleFamily public records · 1 Days on market

Built 1946 3,022 sqft lot

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home needs it all but has good bones. Great by. Tax records have real AVM at $57,130. Easy to show. Verify Schools.

Key facts

• 3,022 sq ft lot
• Parking

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas available; Water available
• Home design: Single family residence; Three or more levels; Existing structure
• Construction: Brick construction; Stone foundation
• Exterior features: Shingle roof

Interior

• Kitchen: Refrigerator
• Bedrooms: Primary bedroom (15 x 15); Bedroom 2 (14 x 15); Bedroom 3 (11 x 11); Bonus room (12 x 15)
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating
• Interior features: Wood-burning fireplace; Vinyl window frames

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Cap rate 17.5% 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: John G Carlisle Elementary (math 2% / reading 27%, grade F, #620 of 676 statewide, top 93%, 304 students, 81% 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 82% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 214 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).
• At $2,626/mo this rent would consume 45% of the median local household income ($70k/yr) (locally 1488% 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 $899 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.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $102k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1946 — 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 $130,000

Questions for the listing agent

1. Built in 1946 — 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. 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.
4. 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.
5. 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: 2.02% ✓
• Cap rate: 17.50%
• Cash-on-cash: 40.02%
• DSCR: 2.78
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $351,396
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1125 Banklick St	0.14mi	3/2.0	2,242 (+10%)	0mo	$500,000	$223	73
812 Main St	0.50mi	3/2.0	1,980 (-3%)	1mo	$241,000	$122	66
1118 Holman Ave	0.19mi	3/2.5	2,302 (+13%)	2mo	$560,000	$243	62
1712 Banklick St	0.42mi	2/2.0 (-1)	1,936 (-5%)	1mo	$230,900	$119	62
1718 Greenup St	0.57mi	3/2.5	1,950 (-5%)	0mo	$310,000	$159	60
945 Philadelphia St	0.44mi	4/2.0 (+1)	2,160 (+6%)	2mo	$80,000	$37	59
16 E 18th St	0.52mi	3/2.5	1,878 (-8%)	1mo	$384,450	$205	55
216 E 18th St	0.61mi	3/2.0	1,876 (-8%)	1mo	$215,000	$115	53
335 E 17th St	0.67mi	3/2.0	1,844 (-10%)	0mo	$275,000	$149	48
346 W 9th St	0.44mi	2/2.5 (-1)	1,765 (-14%)	4mo	$310,000	$176	43
1904 Greenup St	0.68mi	4/3.0 (+1)	1,830 (-10%)	1mo	$314,000	$172	38
636 Bakewell St	0.63mi	4/4.0 (+1)	2,264 (+11%)	1mo	$535,000	$236	34

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 · 1.55% rent growth · sell at horizon

5-year hold

• IRR: 34.8%
• Equity multiple: 2.44×
• Total profit: $52,491
• Equity at exit: $19,383

10-year hold

• IRR: 40.8%
• Equity multiple: 4.58×
• Total profit: $130,280
• Equity at exit: $11,240

Cash invested: $36,400 (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 41011

• Rents YoY: 1.6%
• Active inventory: 214
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,626 high
• Mortgage (P&I): −$682
• Tax from tax record: −$125 /mo · $1,498/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $1,214

Break-even live

Break-even rent $1,090

Max offer price $130,000

Occupancy floor 49%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	23d	1	0.18mi
1170 Grays Peak Covington, KY	3.0	3.5	2808	$3,950	$1.41	2d	1	0.67mi
1927 Scott St Apt 1 Covington, KY	3.0	2.0	1865	$2,100	$1.13	20d	1	0.72mi
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	4d	1	0.86mi
50 W Rivercenter Blvd Covington, KY	1.0–2.0	1.0–2.5	1273	$3,640	$2.86	2d	9	0.96mi
809 Isabella St Newport, KY	2.0	2.0	1519	$2,200	$1.45	44d	1	1.09mi
203 W 8th St Newport, KY	2.0	1.5	1456	$2,300	$1.58	21d	1	1.16mi
140 W 13th St Newport, KY	3.0	3.5	2505	$4,200	$1.68	12d	1	1.24mi

Listing history 18 events

1. 2026-06-19
   pricedays on marketlisting id $130,000 Active 1 DOM
2. 2026-06-03
   days on market $150,000 Active 44 DOM
3. 2026-06-02
   days on market $150,000 Active 43 DOM
4. 2026-06-01
   days on market $150,000 Active 42 DOM
5. 2026-05-31
   days on market $150,000 Active 41 DOM
6. 2026-04-20
   listed $150,000 Active
7. 2026-02-28
   historical
8. 2026-01-27
   price $150,000
9. 2025-12-03
   price $165,000
10. 2025-11-16
    listed $170,000 Active
11. 2025-10-29
    soldstatus $102,166
12. 2018-07-13
    soldstatus $24,000 120-char remark

    Show marketing remark (120 chars)

    This home needs it all but has good bones. Great by. Tax records have real AVM at $57,130. Easy to show. Verify Schools.

13. 2017-11-29
    listed $25,000 120-char remark

    Show marketing remark (120 chars)

    This home needs it all but has good bones. Great by. Tax records have real AVM at $57,130. Easy to show. Verify Schools.

14. 2017-11-29
    historical

    Show marketing remark (120 chars)

    This home needs it all but has good bones. Great by. Tax records have real AVM at $57,130. Easy to show. Verify Schools.

15. 2017-05-24
    listed $55,900
16. 2016-07-06
    historical
17. 2016-01-08
    listed $52,500
18. 1997-02-26
    soldstatus $20,000

ⓘ 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: $1,498 · $125/mo
• Projected year-2 tax: $1,498 · $125/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 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: $31,515
• − Mortgage interest: −$7,282
• − Property taxes: −$1,498
• − Insurance: −$650
• − Repairs & maintenance: −$2,521
• − Management: −$2,521
• − Depreciation: −$3,782
• Taxable income: $13,260
• Est. tax owed @ 24.0%: −$3,182
• After-tax cash flow: $11,385/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): 26,981
• Household income: $69,970
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 1488.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 12% Black 10% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 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: ▼ -215.20%
• Current HPI: 237.0869
• Rent YoY: ▲ 1.55%
• 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

+650.0% since first listed

13 events — show timeline

• 2026-04-20 Listed $150,000 NKMLS
• 2026-02-28 Listing Removed — NKMLS
• 2026-01-27 Price Changed $150,000 NKMLS
• 2025-12-03 Price Changed $165,000 NKMLS
• 2025-11-16 Listed $170,000 NKMLS
• 2025-10-29 Sold (Public Records) $102,166 Public Records
• 2018-07-13 Sold (MLS) $24,000 NKMLS
• 2017-11-29 Listing Removed — NKMLS
• 2017-11-29 Listed $25,000 NKMLS
• 2017-05-24 Listed $55,900 NKMLS
• 2016-07-06 Listing Removed — NKMLS
• 2016-01-08 Listed $52,500 NKMLS
• 1997-02-26 Sold (Public Records) $20,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,498 · +0.7% YoY. Source: county tax records.