2750 Madison Ave · Covington, KY 41015

$254,900

3 bd · 2.0 ba · 2,004 sqft · SingleFamily public records · 70 Days on market

10,800 sqft lot Est $277k · 8% under

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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 +16.6/30.0
• ARV discount +11.0/15.0
• DSCR +5.2/10.0
• Livability +4.3/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Recently renovated! Newer everything - central air, carpet, kitchen, baths, windows, driveway, hardwood, 9 ft. ceilings, you have got to see this one. Slate kitchen and baths. Buyer to verify schools All Room sizes are estimates Photos here in are from recent rehab before this tenant moved in!

Key facts

• Slate baths
• Slate kitchen
• Newer everything

Tags

• CENTRAL AIR
• NEWER EVERYTHING
• SLATE KITCHEN
• SLATE BATHS
• HARDWOOD
• 9 FT CEILINGS

Property features AI

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family house; Two stories
• Construction: Vinyl siding; Shingle roof; Block foundation; Existing structure; Built as single-family residence
• Exterior features: Covered porch; Porch; Has a view; City street frontage

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator
• Bedrooms: Primary bedroom (12 x 12); Bedroom 2 (10 x 8); Bedroom 3 (12 x 10)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Upper-level laundry
• Laundry & utility: Upper-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $155 ($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 $219k (14.1% below list).
• Recommended offer: $219k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: Ninth District Elementary (math 2% / reading 17%, grade F, #648 of 676 statewide, top 98%, 341 students, 87% 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).
• Market conditions: 161 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $2k of loan paydown is wiped out by about $8k 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 70 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 24y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $116k; list at $255k implies a 119% gain — meaningful room to come down on a strong offer.

Recommended offer $218,991 (14.1% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.86% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.61%
• DSCR: 1.12
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $276,552
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 W 28th St	0.21mi	2/1.0 (-1)	1,996 (-0%)	10mo	$155,000	$78	73
13 E 24th St	0.42mi	3/1.5	2,110 (+5%)	6mo	$270,000	$128	65
3515 Glenn Ave	0.59mi	3/2.5	2,068 (+3%)	12mo	$286,100	$138	55
3415 Church St	0.44mi	3/3.0	2,200 (+10%)	5mo	$305,000	$139	55
3141 Beech Ave	0.62mi	4/2.0 (+1)	2,078 (+4%)	11mo	$287,000	$138	51
508 Levassor Pl	0.47mi	3/2.5	1,778 (-11%)	7mo	$482,500	$271	51
2032 Greenup St	0.66mi	4/1.5 (+1)	1,904 (-5%)	5mo	$176,000	$92	50
3213 Decoursey Ave	0.35mi	4/2.0 (+1)	2,256 (+13%)	11mo	$165,000	$73	48
2216 Oakland Ave	0.62mi	3/2.5	1,794 (-10%)	8mo	$335,000	$187	44
3174 Rosina Ave	0.69mi	4/2.0 (+1)	1,842 (-8%)	6mo	$210,000	$114	44
3712 Park Ave	0.72mi	3/2.5	1,862 (-7%)	11mo	$224,595	$121	43
203 E Southern Ave	0.67mi	3/2.0	1,758 (-12%)	10mo	$245,000	$139	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.56×
• Total profit: $-31,502
• Equity at exit: $38,006

10-year hold

• IRR: -3.2%
• Equity multiple: 0.79×
• Total profit: $-15,035
• Equity at exit: $22,039

Cash invested: $71,372 (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 41015

• Active inventory: 161
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,190 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$132 /mo · $1,583/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $155

Break-even live

Break-even rent $1,993

Max offer price $254,900

Occupancy floor 88%

Sensitivity live

Price	-10% $299	-5% $227	+0% $155	+5% $83	+10% $11
Rent	-10% $-18	-5% $69	+0% $155	+5% $242	+10% $328
Rate	-1.0pp $284	-0.5pp $220	base $155	+0.5pp $89	+1.0pp $22

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	6d	1	0.66mi
1927 Scott St Apt 1 Covington, KY	3.0	2.0	1865	$2,100	$1.13	21d	1	0.72mi
1700 Aspen Pines Dr Wilder, KY	1.0–3.0	1.0–2.5	1420	$2,365	$1.67	3d	14	1.08mi
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	25d	1	1.49mi

Listing history 31 events

1. 2026-06-15
   pricedays on market $254,900 Active 70 DOM
2. 2026-06-09
   days on market $264,900 Active 64 DOM
3. 2026-06-08
   days on market $264,900 Active 63 DOM
4. 2026-06-07
   days on market $264,900 Active 62 DOM
5. 2026-06-03
   days on market $264,900 Active 58 DOM
6. 2026-06-02
   days on market $264,900 Active 57 DOM
7. 2026-06-01
   days on market $264,900 Active 56 DOM
8. 2026-05-31
   days on market $264,900 Active 55 DOM
9. 2026-05-22
   price $264,900
10. 2026-05-08
    price $274,900
11. 2026-04-06
    listed $279,900 Active
12. 2024-09-25
    soldstatus $116,500
13. 2010-09-10
    historical
14. 2010-08-25
    soldstatus $98,000
15. 2010-07-13
    historical
16. 2010-01-12
    listed $98,000
17. 2009-12-06
    historical
18. 2009-09-08
    listed $94,900
19. 2008-08-01
    historical
20. 2008-07-01
    listed
21. 2008-06-06
    listed $109,900
22. 2007-12-03
    historical
23. 2007-09-14
    listed $95,000
24. 2007-06-14
    historical
25. 2007-03-22
    listed $51,000
26. 2007-03-21
    soldstatus $17,000
27. 2007-03-21
    soldstatus $17,000
28. 2007-01-16
    listed $35,000
29. 2002-05-08
    soldstatus $11,000
30. 2002-02-07
    listed $20,000
31. 1996-12-04
    soldstatus $39,000

ⓘ 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: $1,583 · $132/mo
• Projected year-2 tax: $2,192 · $183/mo
• Expected delta: +$609/yr (+$51/mo · 38.5%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,279
• − Mortgage interest: −$14,278
• − Property taxes: −$1,583
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,102
• − Management: −$2,102
• − Depreciation: −$7,415
• Taxable loss: −$2,477
• Est. tax savings @ 24.0%: +$594
• After-tax cash flow: $2,457/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
• City population: 34,373
• Population (ZIP): 20,396

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 (90%)
• Race & ethnicity: White 90% Two or more races 6% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% French/Haitian/Cajun 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: ▼ -110.37%
• Current HPI: 203.7263
• Rent YoY: —
• Metro: —
• 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

+579.2% since first listed

23 events — show timeline

• 2026-05-22 Price Changed $264,900 NKMLS
• 2026-05-08 Price Changed $274,900 NKMLS
• 2026-04-06 Listed $279,900 NKMLS
• 2024-09-25 Sold (Public Records) $116,500 Public Records
• 2010-09-10 Listing Removed — NKMLS
• 2010-08-25 Sold (Public Records) $98,000 Public Records
• 2010-07-13 Listing Removed — NKMLS
• 2010-01-12 Listed $98,000 NKMLS
• 2009-12-06 Listing Removed — NKMLS
• 2009-09-08 Listed $94,900 NKMLS
• 2008-08-01 Listing Removed — NKMLS
• 2008-07-01 Listed — NKMLS
• 2008-06-06 Listed $109,900 NKMLS
• 2007-12-03 Listing Removed — NKMLS
• 2007-09-14 Listed $95,000 NKMLS
• 2007-06-14 Listing Removed — NKMLS
• 2007-03-22 Listed $51,000 NKMLS
• 2007-03-21 Sold (Public Records) $17,000 Public Records
• 2007-03-21 Sold (MLS) $17,000 NKMLS
• 2007-01-16 Listed $35,000 NKMLS
• 2002-05-08 Sold (MLS) $11,000 NKMLS
• 2002-02-07 Listed $20,000 NKMLS
• 1996-12-04 Sold (Public Records) $39,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $1,583 · +18.7% YoY. Source: county tax records.