1712 Banklick St · Covington, KY 41011

$224,900

2 bd · 2.0 ba · 1,936 sqft · SingleFamily public records · 6 Days on market

Built 1950 3,000 sqft lot Est $230k · at est.

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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 +24.1/30.0
• ARV discount +8.6/15.0
• DSCR +7.8/10.0
• 1% rule +5.0/10.0
• 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

All Brick 2 Story, Fenced yard, off street parking. Sold As Is. No contingencies of selling other property. Buyer to verify schools & utilities. Agents read remarks.

Key facts

• Updated baths
• Off street parking
• Private fenced yard

Tags

• PRIVATE FENCED YARD
• OFF STREET PARKING
• EASTLAKE STYLE DETAILING
• UPDATED KITCHEN
• UPDATED BATHS
• ORIGINAL HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $443 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Cap rate 8.7% 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).
• This rent runs 39% of the median local income ($70k/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 $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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 29y 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 $40k; list at $225k implies a 455% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $224,900

Questions for the listing agent

1. Built in 1950 — 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: 1.00% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.44%
• DSCR: 1.38
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $230,384
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1712 Banklick St	0.00mi	2/2.0	1,936 (0%)	1mo	$230,900	$119	99
16 E 18th St	0.27mi	3/2.5 (+1)	1,878 (-3%)	1mo	$384,450	$205	74
1718 Greenup St	0.39mi	3/2.5 (+1)	1,950 (+1%)	0mo	$310,000	$159	73
216 E 18th St	0.44mi	3/2.0 (+1)	1,876 (-3%)	1mo	$215,000	$115	69
1507 Morton Ave	0.35mi	3/1.5 (+1)	1,856 (-4%)	4mo	$201,700	$109	66
1718 Woodburn Ave	0.10mi	3/2.5 (+1)	1,680 (-13%)	3mo	$244,000	$145	64
335 E 17th St	0.56mi	3/2.0 (+1)	1,844 (-5%)	0mo	$275,000	$149	60
507 Highland Pike	0.32mi	3/1.5 (+1)	1,696 (-12%)	4mo	$85,000	$50	55
1909 Pine St	0.39mi	3/2.5 (+1)	1,736 (-10%)	5mo	$130,000	$75	54
1326 Banklick	0.38mi	3/2.0 (+1)	1,716 (-11%)	6mo	$158,000	$92	54
13 E 24th St	0.59mi	3/1.5 (+1)	2,110 (+9%)	6mo	$270,000	$128	46
515 Delmar Pl	0.69mi	3/2.0 (+1)	1,696 (-12%)	2mo	$195,500	$115	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 · 1.55% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.82×
• Total profit: $-11,572
• Equity at exit: $33,533

10-year hold

• IRR: 3.0%
• Equity multiple: 1.21×
• Total profit: $12,930
• Equity at exit: $19,445

Cash invested: $62,972 (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 41011

• Rents YoY: 1.6%
• Active inventory: 214
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,254 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$64 /mo · $771/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $443

Break-even live

Break-even rent $1,693

Max offer price $224,900

Occupancy floor 75%

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1927 Scott St Apt 1 Covington, KY	3.0	2.0	1865	$2,100	$1.13	20d	1	0.39mi
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	23d	1	0.50mi
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	4d	1	0.56mi
103 E 3rd St Covington, KY	2.0	2.5	1291	$3,250	$2.52	1d	1	1.27mi
809 Isabella St Newport, KY	2.0	2.0	1519	$2,200	$1.45	44d	1	1.36mi
140 W 13th St Newport, KY	3.0	3.5	2505	$4,200	$1.68	12d	1	1.37mi
50 W Rivercenter Blvd Covington, KY	1.0–2.0	1.0–2.5	1273	$3,640	$2.86	1d	9	1.37mi
203 W 8th St Newport, KY	2.0	1.5	1456	$2,300	$1.58	21d	1	1.43mi

Listing history 14 events

1. 2026-04-13
   status Pending
2. 2026-04-07
   listed $224,900 Active
3. 2026-02-19
   price $224,900
4. 2026-01-21
   price $228,000
5. 2026-01-14
   status Active
6. 2026-01-05
   status Pending
7. 2026-01-05
   historical
8. 2025-12-30
   listed $225,000 Active
9. 2005-10-19
   soldstatus $40,500 169-char remark

   Show marketing remark (169 chars)

   All Brick 2 Story, Fenced yard, off street parking. Sold As Is. No contingencies of selling other property. Buyer to verify schools & utilities. Agents read remarks.

10. 2005-06-14
    listed $44,900 169-char remark

    Show marketing remark (169 chars)

    All Brick 2 Story, Fenced yard, off street parking. Sold As Is. No contingencies of selling other property. Buyer to verify schools & utilities. Agents read remarks.

11. 1997-12-19
    soldstatus $52,000
12. 1997-12-19
    soldstatus $52,000
13. 1997-09-11
    listed $54,900
14. 1989-02-01
    soldstatus $34,500

ⓘ 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: $771 · $64/mo
• Projected year-2 tax: $1,934 · $161/mo
• Expected delta: +$1,163/yr (+$97/mo · 150.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% 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: $27,043
• − Mortgage interest: −$12,598
• − Property taxes: −$771
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,163
• − Management: −$2,163
• − Depreciation: −$6,543
• Taxable income: $1,680
• Est. tax owed @ 24.0%: −$403
• After-tax cash flow: $4,912/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

+551.9% since first listed

14 events — show timeline

• 2026-04-13 Pending — NKMLS
• 2026-04-07 Listed $224,900 NKMLS
• 2026-02-19 Price Changed $224,900 NKMLS
• 2026-01-21 Price Changed $228,000 NKMLS
• 2026-01-14 Relisted — NKMLS
• 2026-01-05 Pending — NKMLS
• 2026-01-05 Listing Removed — NKMLS
• 2025-12-30 Listed $225,000 NKMLS
• 2005-10-19 Sold (MLS) $40,500 NKMLS
• 2005-06-14 Listed $44,900 NKMLS
• 1997-12-19 Sold (Public Records) $52,000 Public Records
• 1997-12-19 Sold (MLS) $52,000 NKMLS
• 1997-09-11 Listed $54,900 NKMLS
• 1989-02-01 Sold (Public Records) $34,500 Public Records

Property tax history

+6.8%/yr

Latest (2025): $771 · +0.7% YoY. Source: county tax records.