361 Bond St · Covington, KY 41016

$299,900

4 bd · 1.0 ba · 1,388 sqft · SingleFamily public records · 136 Days on market

Built 1910 2,614 sqft lot Est $222k · 35% over

---

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 +16.7/30.0
• DSCR +5.2/10.0
• Livability +4.3/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity, 4 BR 1 Ba, three floors. Home needs renovation. It likely will not qualify for a mortgage. Being sold as is, and the sales price is firm. There is no power, water or gas on in the house.

Key facts

• New siding
• New carpet
• New appliances

Tags

• NEW ROOF
• NEW SIDING
• GRANITE COUNTER-TOPS
• NEW APPLIANCES
• NEW CARPET
• NEW VINYL PLANK FLOORING

Property features AI

Exterior

• Parking: Garage; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Three or more levels; Built in 1910
• Construction: Vinyl siding; Stone foundation
• Exterior features: Privacy fencing; Vinyl clad windows; Shingle roof

Interior

• Kitchen: Electric cooktop; Microwave; Refrigerator
• Bedrooms: Primary bedroom (12 x 12); Bedroom 2 (13 x 12); Bedroom 3 (8 x 11); Bedroom 4 (30 x 24)
• Bathrooms: 2 full bathrooms; Primary bath (4 x 10); Bathroom 2 (11 x 6)
• Heating & cooling: Central air; Has heating
• Interior features: Granite counters; Electric fireplace; Accessible full bathroom; Accessible kitchen
• Laundry & utility: Washer; Dryer (laundry on main level)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $189 ($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 $249k (16.9% below list).
• Recommended offer: $249k (16.9% 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: 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: 92 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).
• This rent runs 42% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 136 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $300k implies a 445% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,157 (16.9% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.83% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.70%
• DSCR: 1.12
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $222,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 Montclair Ave	0.20mi	3/2.0 (-1)	1,418 (+2%)	3mo	$227,500	$160	76
401 Montclair Ave	0.14mi	3/2.0 (-1)	1,402 (+1%)	9mo	$230,000	$164	75
1216 High St	0.22mi	3/1.0 (-1)	1,418 (+2%)	14mo	$74,900	$53	70
134 Highway Ave	0.26mi	3/1.5 (-1)	1,255 (-10%)	6mo	$250,000	$199	60
1307 Highway Ave	0.19mi	3/2.0 (-1)	1,524 (+10%)	8mo	$229,800	$151	59
435 Hazen St	0.26mi	4/2.0	1,578 (+14%)	3mo	$259,900	$165	59
612 Altamont Rd	0.28mi	3/3.0 (-1)	1,440 (+4%)	11mo	$249,900	$174	58
1320 Hwy Ave	0.16mi	3/2.0 (-1)	1,532 (+10%)	12mo	$210,000	$137	56
50 Elm St	0.50mi	3/2.0 (-1)	1,411 (+2%)	13mo	$174,900	$124	54
427 Highway Ave	0.20mi	3/1.0 (-1)	1,596 (+15%)	11mo	$183,000	$115	51
923 Highway Ave	0.47mi	3/1.5 (-1)	1,560 (+12%)	1mo	$325,000	$208	50
233 Oak St	0.59mi	3/2.0 (-1)	1,525 (+10%)	14mo	$240,000	$157	35

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: -12.1%
• Equity multiple: 0.56×
• Total profit: $-36,696
• Equity at exit: $44,716

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-17,026
• Equity at exit: $25,930

Cash invested: $83,972 (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 41016

• Active inventory: 92
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,492 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$82 /mo · $979/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $189

Break-even live

Break-even rent $2,252

Max offer price $299,900

Occupancy floor 87%

Sensitivity live

Price	-10% $359	-5% $274	+0% $189	+5% $104	+10% $19
Rent	-10% $-8	-5% $91	+0% $189	+5% $288	+10% $386
Rate	-1.0pp $340	-0.5pp $265	base $189	+0.5pp $111	+1.0pp $32

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Swain Ct Covington, KY	1.0–3.0	1.0–2.0	951	$2,295	$2.41	3d	3	0.27mi
239 Forest Ave Ludlow, KY	3.0	1.0	1146	$1,395	$1.22	19d	1	0.68mi
2454 River Rd Unit 2 Cincinnati, OH	4.0	1.0	1400	$1,595	$1.14	25d	1	1.15mi
309 Vine St Cincinnati, OH	1.0–3.0	1.0–2.0	955	$3,334	$3.49	3d	15	1.40mi
1 W 4th St Cincinnati, OH	3.0	1.0–3.5	1675	$9,200	$5.49	4d	96	1.42mi
417 Vine St Cincinnati, OH	3.0	2.0	1602	$2,950	$1.84	16d	1	1.44mi

Listing history 37 events

1. 2026-06-21
   days on market $299,900 Active 136 DOM
2. 2026-06-18
   days on market $299,900 Active 133 DOM
3. 2026-06-17
   days on market $299,900 Active 132 DOM
4. 2026-06-16
   days on market $299,900 Active 131 DOM
5. 2026-06-15
   days on market $299,900 Active 130 DOM
6. 2026-06-09
   days on market $299,900 Active 124 DOM
7. 2026-06-08
   days on market $299,900 Active 123 DOM
8. 2026-06-07
   days on market $299,900 Active 122 DOM
9. 2026-06-03
   days on market $299,900 Active 118 DOM
10. 2026-06-02
    days on market $299,900 Active 117 DOM
11. 2026-06-01
    days on market $299,900 Active 116 DOM
12. 2026-05-31
    days on market $299,900 Active 115 DOM
13. 2026-05-05
    price $299,900
14. 2026-04-07
    price $314,900
15. 2026-03-09
    price $319,900
16. 2026-02-04
    listed $324,900 Active
17. 2024-11-26
    status Active
18. 2024-11-26
    status Pending
19. 2024-11-26
    historical
20. 2024-09-17
    price $229,000
21. 2024-08-14
    price $239,000
22. 2024-07-24
    price $249,000
23. 2024-07-11
    price $253,900
24. 2024-06-28
    price $254,900
25. 2024-06-09
    listed $259,900 Active
26. 2021-11-12
    soldstatus $55,000 Closed 211-char remark

    Show marketing remark (211 chars)

    Investment opportunity, 4 BR 1 Ba, three floors. Home needs renovation. It likely will not qualify for a mortgage. Being sold as is, and the sales price is firm. There is no power, water or gas on in the house.

27. 2021-10-21
    status Pending 211-char remark

    Show marketing remark (211 chars)

    Investment opportunity, 4 BR 1 Ba, three floors. Home needs renovation. It likely will not qualify for a mortgage. Being sold as is, and the sales price is firm. There is no power, water or gas on in the house.

28. 2021-10-14
    listed $59,000 Active 211-char remark

    Show marketing remark (211 chars)

    Investment opportunity, 4 BR 1 Ba, three floors. Home needs renovation. It likely will not qualify for a mortgage. Being sold as is, and the sales price is firm. There is no power, water or gas on in the house.

29. 2012-03-22
    soldstatus $15,000
30. 2011-07-01
    listed $18,000
31. 2005-03-22
    soldstatus $21,500
32. 2005-02-02
    listed $23,000
33. 2003-08-23
    historical
34. 2002-08-23
    listed $65,000
35. 1998-07-01
    soldstatus $15,000
36. 1989-08-14
    soldstatus $25,000
37. 1987-07-24
    soldstatus $13,000

ⓘ 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: $979 · $82/mo
• Projected year-2 tax: $2,579 · $215/mo
• Expected delta: +$1,600/yr (+$133/mo · 163.5%)

ⓘ 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 ≥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: $29,899
• − Mortgage interest: −$16,799
• − Property taxes: −$979
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,392
• − Management: −$2,392
• − Depreciation: −$8,724
• Taxable loss: −$2,887
• Est. tax savings @ 24.0%: +$693
• After-tax cash flow: $2,962/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): 5,795
• Household income: $71,172
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 95.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 10% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Romanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 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: ▼ -141.84%
• Current HPI: 215.1436
• Rent YoY: —
• 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

+2206.9% since first listed

25 events — show timeline

• 2026-05-05 Price Changed $299,900 NKMLS
• 2026-04-07 Price Changed $314,900 NKMLS
• 2026-03-09 Price Changed $319,900 NKMLS
• 2026-02-04 Listed $324,900 NKMLS
• 2024-11-26 Relisted — NKMLS
• 2024-11-26 Pending — NKMLS
• 2024-11-26 Listing Removed — NKMLS
• 2024-09-17 Price Changed $229,000 NKMLS
• 2024-08-14 Price Changed $239,000 NKMLS
• 2024-07-24 Price Changed $249,000 NKMLS
• 2024-07-11 Price Changed $253,900 NKMLS
• 2024-06-28 Price Changed $254,900 NKMLS
• 2024-06-09 Listed $259,900 NKMLS
• 2021-11-12 Sold (MLS) $55,000 NKMLS
• 2021-10-21 Pending — NKMLS
• 2021-10-14 Listed $59,000 NKMLS
• 2012-03-22 Sold (MLS) $15,000 NKMLS
• 2011-07-01 Listed $18,000 NKMLS
• 2005-03-22 Sold (MLS) $21,500 NKMLS
• 2005-02-02 Listed $23,000 NKMLS
• 2003-08-23 Listing Removed — NKMLS
• 2002-08-23 Listed $65,000 NKMLS
• 1998-07-01 Sold (Public Records) $15,000 Public Records
• 1989-08-14 Sold (Public Records) $25,000 Public Records
• 1987-07-24 Sold (Public Records) $13,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $979 · +0.7% YoY. Source: county tax records.