722 Berlander Dr · Independence, KY 41051

$274,900

3 bd · 2.5 ba · 1,344 sqft · SingleFamily public records · 2 Days on market

Built 2006 5,985 sqft lot Est $286k · at est.

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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 +12.1/30.0
• ARV discount +9.3/15.0
• Schools +4.0/10.0
• Rent growth +3.8/5.0
• DSCR +3.6/10.0
• Livability +3.6/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-loved move in ready 2-story home in Glenhurst community. Attractive exterior boasts painted brick, distressed wood shutters, & dimensional shingled roof. Open & airy main level features soaring cathedral ceilings in the living room & luxury vinyl flooring throughout. Tasteful neutral décor, 6 panel doors, & modernized lighting. Cute updated 1st floor half bath. Fully equipped eat in kitchen includes SS appliances, walk in pantry, adjoining dining room & walkout to the rear yard. Convenient tiled laundry room has sink & cabinets for storage plus walks out to the 2 car garage w/ opener. Fenced usable yard, paver patio, & shed. Primary suite w/ overhead fan, walk in closet, & updated tiled bath. 2nd tiled full bath & 2 additional bedrooms w/ ceiling fans on 2nd floor.

Key facts

• 5,985 sq ft lot
• 2 garage spots
• Built 2006

Property features AI

Exterior

• Parking: Attached 2-car garage; Driveway; Garage with automatic door opener; Garage faces front
• Utilities: Public water; Public sewer
• Home design: Single family house; Two levels; Built in 2006
• Construction: Brick and vinyl siding exterior; Shingle roof; Slab foundation
• Exterior features: Patio; Wood fencing; Cleared lot; Outbuilding

Interior

• Kitchen: Stainless steel appliances; Electric oven; Electric range; Dishwasher; Garbage disposal; Microwave; Refrigerator; Eat-in layout
• Bedrooms: Primary bedroom (13 x 13); Bedroom 2 (11 x 9); Bedroom 3 (11 x 9)
• Bathrooms: 2 full bathrooms; 1 half bathroom; Primary bath is an en suite
• Heating & cooling: Heat pump heating (electric); Central air conditioning
• Interior features: Walk-in closets; Entrance foyer; Eat-in kitchen; Cathedral ceilings; Ceiling fans; High ceilings; Multi-panel doors
• Laundry & utility: Washer hookup; Electric dryer hookup; Main level laundry; Washer included (stated)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-60 ($-714/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (21.0% below list).
• Recommended offer: $217k (21.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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); Twenhofel Middle School (math 33% / reading 47%, grade F, #59 of 217 statewide, top 29%, 835 students, 39% FRL); Simon Kenton High School (math 40% / reading 44%, grade F, #32 of 254 statewide, top 13%, 1,859 students, 37% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 258 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 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 $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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y 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 $217,042 (21.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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: 0.79% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $286,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
722 Berlander Dr	0.00mi	3/2.5	1,344 (0%)	5mo	$259,900	$193	96
665 Berlander Dr	0.13mi	3/2.5	1,436 (+7%)	4mo	$275,000	$192	79
639 Hornbean Dr	0.31mi	3/2.5	1,284 (-4%)	5mo	$266,000	$207	74
622 Branch Ct	0.31mi	3/3.0	1,267 (-6%)	4mo	$270,000	$213	70
10649 Kelsey Dr	0.34mi	4/2.0 (+1)	1,400 (+4%)	2mo	$325,000	$232	69
461 Maher Rd	0.64mi	3/2.5	1,328 (-1%)	2mo	$225,000	$169	66
586 Berlander Dr	0.29mi	3/2.0	1,201 (-11%)	8mo	$251,000	$209	60
800 Berlander Dr	0.36mi	3/3.0	1,508 (+12%)	2mo	$330,000	$219	59
801 Berlander Dr	0.37mi	3/3.5	1,508 (+12%)	1mo	$350,000	$232	58
558 Tupelo Dr	0.43mi	3/2.5	1,203 (-10%)	7mo	$271,000	$225	57
10720 Melbury Ct Unit 286GL	0.45mi	3/2.5	1,470 (+9%)	8mo	$385,900	$263	56
504 Rosebud Cir	0.46mi	4/3.0 (+1)	1,456 (+8%)	10mo	$290,000	$199	50

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: -15.4%
• Equity multiple: 0.44×
• Total profit: $-43,084
• Equity at exit: $40,988

10-year hold

• IRR: -3.5%
• Equity multiple: 0.74×
• Total profit: $-19,757
• Equity at exit: $23,768

Cash invested: $76,972 (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 41051

• Home prices YoY: -32.6%
• Rents YoY: 5.4%
• Active inventory: 258
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,170 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$218 /mo · $2,616/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $-60

Break-even live

Break-even rent $2,246

Max offer price $264,384

Occupancy floor 98%

Sensitivity live

Price	-10% $96	-5% $18	+0% $-60	+5% $-137	+10% $-215
Rent	-10% $-231	-5% $-145	+0% $-60	+5% $26	+10% $112
Rate	-1.0pp $79	-0.5pp $10	base $-60	+0.5pp $-131	+1.0pp $-203

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
71 Deer Haven Ct Unit DH07 Florence, KY	3.0	2.0	1400	$1,950	$1.39	9d	1	1.44mi
71 Deer Haven Ct Unit RL10322 Florence, KY	3.0	2.5	1550	$1,999	$1.29	9d	1	1.44mi
71 Deer Haven Ct Unit DH65 Florence, KY	3.0	2.0	1400	$1,950	$1.39	25d	1	1.44mi
71 Deer Haven Ct Unit DH6 Florence, KY	3.0	2.5	1500	$1,925	$1.28	25d	1	1.44mi

Listing history 4 events

1. 2026-06-17
   status $274,900 Pending 2 DOM
2. 2026-06-17
   days on market $274,900 Active 2 DOM
3. 2026-06-16
   remarks 678-char remark
4. 2026-06-16
   listed $274,900 Active 1 DOM

ⓘ 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: $2,616 · $218/mo
• Projected year-2 tax: $2,616 · $218/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 3/10 Moderate
• 🌡 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,045
• − Mortgage interest: −$15,399
• − Property taxes: −$2,616
• − Insurance: −$1,374
• − Repairs & maintenance: −$2,084
• − Management: −$2,084
• − Depreciation: −$7,997
• Taxable loss: −$5,509
• Est. tax savings @ 24.0%: +$1,322
• After-tax cash flow: $608/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

+77.5% since first listed

9 events — show timeline

• 2026-06-15 Listed $274,900 NKMLS
• 2026-01-14 Sold (Public Records) $259,900 Public Records
• 2026-01-09 Sold (MLS) $259,900 NKMLS
• 2025-12-03 Pending — NKMLS
• 2025-11-24 Price Changed $259,900 NKMLS
• 2025-11-13 Listed $269,900 NKMLS
• 2017-10-27 Sold (Public Records) $154,500 Public Records
• 2017-10-25 Sold (MLS) $154,500 NKMLS
• 2017-09-05 Listed $154,900 NKMLS

Property tax history

+3.7%/yr

Latest (2025): $2,616 · +12.8% YoY. Source: county tax records.