1052 Alpine Ct · Independence, KY 41051

$230,000

3 bd · 2.0 ba · 972 sqft · SingleFamily public records · 1 Days on market

5,508 sqft lot $237/sqft · at area comps Est $237k · at est. $40/mo HOA · 2% of rent

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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 +21.3/30.0
• ARV discount +8.8/15.0
• DSCR +6.8/10.0
• 1% rule +5.2/10.0
• Schools +4.0/10.0
• Rent growth +3.8/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great little house in a very convenient location. Nice flat yard in the back. House needs some updating and some work, but can be a cute little home. Come see it today!! House is being sold AS IS!

Key facts

• New siding
• New ac units
• New roof

Tags

• NEW ROOF
• NEW SIDING
• NEW HEATING
• NEW AC UNITS
• NEW GARAGE DOOR OPENER
• UPSTAIRS BATHROOM REMODELED

Property features AI

Finance

• HOA & community: Community pool; Monthly association fee of $40 covering grounds maintenance

Exterior

• Parking: Driveway; 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Tri-level
• Construction: Vinyl siding; Shingle roof; Poured concrete foundation
• Exterior features: Wood fencing; Cul-de-sac lot

Interior

• Kitchen: Kitchen (15 x 11)
• Bedrooms: Primary Bedroom (13 x 12); Bedroom 2 (10 x 10); Bedroom 3 (12 x 9); Bedroom 4 (15 x 11)
• Bathrooms: 1 full bathroom; 1 half bathroom; Primary Bath (8 x 5); Bathroom 2 (6 x 3)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Wood-burning fireplace; Partial basement
• Laundry & utility: Washer hookup; Electric dryer hookup (lower level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Cap rate 8.0% 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.

Location & tenants

• 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: Beechgrove Elementary School (math 41% / reading 42%, grade F, #197 of 676 statewide, top 29%, 660 students, 61% FRL); Woodland Middle School (math 38% / reading 50%, grade D, #40 of 217 statewide, top 19%, 616 students, 48% FRL); Simon Kenton High School (math 40% / reading 44%, grade F, #32 of 254 statewide, top 13%, 1,859 students, 37% FRL) — zoned schools average 49% FRL vs 33% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 257 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $7k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Recommended offer $230,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.02% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.25%
• DSCR: 1.28
• GRM: 8.2

CMA / ARV

• ARV (median comp): $236,822
• List price: $230,000
• Delta: -2.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1052 Alpine Ct	0.00mi	3/1.5	972 (0%)	1mo	$232,000	$239	98
4257 Ashgrove Ct	0.07mi	3/1.5	972 (0%)	10mo	$172,000	$177	87
1135 Chestnut Ct	0.21mi	3/2.5	989 (+2%)	1mo	$233,000	$236	84
4232 Arbor Ct	0.16mi	3/1.5	1,000 (+3%)	12mo	$246,500	$247	76
4270 Catalpa Dr	0.22mi	3/2.0	1,050 (+8%)	10mo	$265,000	$252	68
4749 Buttonwood Dr	0.27mi	3/2.5	1,028 (+6%)	11mo	$230,000	$224	67
1079 Birch Tree Ln	0.50mi	3/1.0	980 (+1%)	8mo	$238,000	$243	65
4252 Catalpa Dr	0.33mi	3/1.5	918 (-6%)	10mo	$270,000	$294	65
4258 Berrywood Dr #1	0.55mi	2/1.0 (-1)	1,000 (+3%)	4mo	$158,000	$158	57
926 E Mount Zion Rd	0.50mi	2/1.0 (-1)	1,052 (+8%)	10mo	$155,000	$147	46
950 E Mount Zion Rd	0.47mi	2/1.5 (-1)	1,060 (+9%)	14mo	$204,000	$192	44
3 Woodknoll Dr	0.55mi	3/1.0	848 (-13%)	13mo	$219,000	$258	38

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.84×
• Total profit: $-10,189
• Equity at exit: $34,294

10-year hold

• IRR: 8.0%
• Equity multiple: 1.67×
• Total profit: $43,281
• Equity at exit: $19,886

Cash invested: $64,400 (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 41051

• Home prices YoY: -32.6%
• Rents YoY: 5.4%
• Active inventory: 257
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,347 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$177 /mo · $2,124/yr
• Insurance: −$96
• HOA: −$40
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $335

Break-even live

Break-even rent $1,923

Max offer price $230,000

Occupancy floor 81%

Sensitivity live

Price	-10% $466	-5% $400	+0% $335	+5% $270	+10% $205
Rent	-10% $150	-5% $243	+0% $335	+5% $428	+10% $521
Rate	-1.0pp $451	-0.5pp $394	base $335	+0.5pp $276	+1.0pp $215

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1047 Alpine Ct Independence, KY	3.0	2.0	1035	$2,400	$2.32	24d	1	0.02mi
9552 Apple Valley Dr Independence, KY	2.0	2.0	1100	$1,456	$1.32	2d	6	0.49mi
10124 Carnation Ct #12 Florence, KY	2.0	2.0	1106	$1,450	$1.31	11d	1	1.49mi

HOA detail

• Monthly dues: $40 · $480/yr

Listing history 5 events

1. 2026-05-03
   status Pending 384-char remark
2. 2026-04-30
   listed $230,000 Active 384-char remark
3. 2020-04-27
   soldstatus $110,000 Closed 196-char remark

   Show marketing remark (196 chars)

   Great little house in a very convenient location. Nice flat yard in the back. House needs some updating and some work, but can be a cute little home. Come see it today!! House is being sold AS IS!

4. 2020-03-25
   status Pending 196-char remark

   Show marketing remark (196 chars)

   Great little house in a very convenient location. Nice flat yard in the back. House needs some updating and some work, but can be a cute little home. Come see it today!! House is being sold AS IS!

5. 2020-03-23
   listed $110,000 Active 196-char remark

   Show marketing remark (196 chars)

   Great little house in a very convenient location. Nice flat yard in the back. House needs some updating and some work, but can be a cute little home. Come see it today!! House is being sold AS IS!

ⓘ 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: $2,124 · $177/mo
• Projected year-2 tax: $2,124 · $177/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 4/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,167
• − Mortgage interest: −$12,884
• − Property taxes: −$2,124
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,253
• − Management: −$2,253
• − HOA: −$480
• − Depreciation: −$6,691
• Taxable income: $332
• Est. tax owed @ 24.0%: −$80
• After-tax cash flow: $3,945/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: Kenton County
• NCES district ID: 2103090
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 48% ▼ -14.00%
• Median HH income: $66,183
• Composite: 40.17/100
• National rank: #3789
• State rank: #14 of 165 in KY

Livability — Independence

• Score: 72/100
• State rank: #130
• US rank: #6165

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, KY
• County: Kenton County · 142,881 people
• City population: 33,054
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 33,054
• Household income: $104,201
• Rent vs Own: 12.5% rent · 87.5% own
• Severe rent burden: 243.0

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Black 1% Asian 1%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 96% English-only · Spanish 1% Chinese 1% Other Asian/Pacific 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: ▼ -105.60%
• Current HPI: 218.492
• Rent YoY: ▲ 5.37%
• 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

+110.9% since first listed

6 events — show timeline

• 2026-06-03 Sold (MLS) $232,000 NKMLS
• 2026-05-03 Pending — NKMLS
• 2026-04-30 Listed $230,000 NKMLS
• 2020-04-27 Sold (MLS) $110,000 NKMLS
• 2020-03-25 Pending — NKMLS
• 2020-03-23 Listed $110,000 NKMLS

Property tax history

+3.8%/yr

Latest (2025): $2,124 · +28.1% YoY. Source: county tax records.