317 E 18th St · Covington, KY 41014

$140,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 3 Days on market

2,648 sqft lot Est $128k · 9% 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 +19.9/30.0
• DSCR +6.3/10.0
• 1% rule +4.4/10.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• ARV discount +3.3/15.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming home featuring two bedrooms and one spacious bathroom. Enjoy a comfortable living room and spacious kitchen, all designed for easy, low-maintenance living. This home offers the perfect opportunity to enjoy the benefits of homeownership in a cozy and manageable space.

Key facts

• 2,648 sq ft lot
• Parking
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $168 ($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 $132k (5.8% below list).
• Recommended offer: $132k (5.8% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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: Sixth District Elementary School (math 8% / reading 17%, grade F, #630 of 676 statewide, top 95%, 446 students, 84% 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 83% FRL track the district average.
• Market conditions: Rents rising fast (+5.1%/yr); 60 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $968 of loan paydown is wiped out by about $4k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,929 (5.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 0.94% ✗
• Cap rate: 7.73%
• Cash-on-cash: 5.15%
• DSCR: 1.23
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $128,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
317 E 18th St	0.00mi	2/1.0	900 (+0%)	1mo	$140,000	$156	99
1814 Eastern Ave	0.14mi	2/1.5	884 (-1%)	2mo	$125,000	$141	88
516 E 19th St E	0.17mi	2/1.5	869 (-3%)	5mo	$215,000	$247	81
326 E 17th St	0.11mi	2/1.0	992 (+11%)	3mo	$95,000	$96	75
509 E 20th St	0.23mi	2/1.0	984 (+10%)	3mo	$139,150	$141	70
1624 Woodburn Ave	0.63mi	2/1.0	840 (-6%)	0mo	$105,000	$125	60
416 W 22nd St	0.70mi	2/2.0	900 (+0%)	6mo	$175,000	$194	57
2414 Herman St	0.69mi	2/1.0	976 (+9%)	5mo	$85,000	$87	49
19 W 15th St	0.47mi	2/2.0	1,013 (+13%)	5mo	$199,000	$196	48
1432 Banklick St	0.63mi	2/1.0	1,026 (+14%)	2mo	$85,000	$83	44
1310 Russell St	0.68mi	2/1.0	765 (-15%)	0mo	$179,000	$234	44
1506 St Clair St	0.74mi	1/1.0 (-1)	816 (-9%)	5mo	$117,000	$143	42

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 · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.77×
• Total profit: $-9,127
• Equity at exit: $20,874

10-year hold

• IRR: 5.7%
• Equity multiple: 1.46×
• Total profit: $18,067
• Equity at exit: $12,105

Cash invested: $39,200 (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 41014

• Rents YoY: 5.1%
• Active inventory: 60
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,319 high
• Mortgage (P&I): −$734
• Tax from tax record: −$82 /mo · $979/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $168

Break-even live

Break-even rent $1,106

Max offer price $140,000

Occupancy floor 82%

Sensitivity live

Price	-10% $247	-5% $208	+0% $168	+5% $129	+10% $89
Rent	-10% $64	-5% $116	+0% $168	+5% $220	+10% $272
Rate	-1.0pp $239	-0.5pp $204	base $168	+0.5pp $132	+1.0pp $95

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1914 Eastern Ave Apt 3 Covington, KY	1.0	1.0	900	$995	$1.11	16d	1	0.16mi
1914 Eastern Ave Apt 1 Covington, KY	2.0	1.0	750	$1,200	$1.60	24d	1	0.16mi
512 Wallace Ave Unit 512/18 Covington, KY	2.0	2.0	900	$1,299	$1.44	8d	1	0.34mi
512 Wallace Ave Unit 512/09 Covington, KY	1.0	1.0	550	$899	$1.63	8d	1	0.34mi
512 Wallace Ave Unit 512/16 Covington, KY	1.0	1.0	550	$939	$1.71	8d	1	0.34mi
512 Wallace Ave Unit 512/08 Covington, KY	1.0	1.0	550	$899	$1.63	18d	1	0.34mi
344 E 13th St Unit 1 Covington, KY	2.0	1.0	1000	$1,275	$1.27	24d	1	0.53mi
1025 Scott St Unit 2 Covington, KY	2.0	2.0	1100	$1,800	$1.64	4d	1	0.79mi
1205 Lee St Unit 2 Covington, KY	1.0	1.0	800	$1,500	$1.88	24d	1	0.89mi
1205 Lee St Unit 1 Covington, KY	1.0	1.0	675	$1,350	$2.00	24d	1	0.89mi
634 Greenup St Covington, KY	1.0	1.5	1050	$1,595	$1.52	8d	1	1.03mi
1700 Aspen Pines Dr Wilder, KY	1.0–3.0	1.0–2.5	1420	$1,895	$1.33	3d	14	1.05mi
1114 Columbia St Unit 2 Newport, KY	1.0	1.0	925	$1,550	$1.68	45d	1	1.09mi
521 Garrard St Apt 2 Covington, KY	1.0	1.0	725	$1,595	$2.20	18d	1	1.11mi
521 Garrard St Apt 4 Covington, KY	1.0	1.0	725	$1,695	$2.34	18d	1	1.11mi
521 Garrard St Apt 3 Covington, KY	1.0	1.0	875	$1,996	$2.28	16d	1	1.11mi
521 Garrard St Apt 6 Covington, KY	1.0	1.0	775	$1,995	$2.57	17d	1	1.11mi
521 Garrard St Apt 1 Covington, KY	1.0	1.5	825	$1,895	$2.30	18d	1	1.11mi
128 W 9th St Newport, KY	2.0	1.0	1012	$1,650	$1.63	3d	1	1.18mi
911 Putnam St #2 Newport, KY	2.0	1.0	1000	$1,600	$1.60	22d	1	1.26mi
218 W 5th St Covington, KY	1.0	1.0	800	$1,595	$1.99	16d	1	1.30mi
120 Vista Point Dr Wilder, KY	1.0–2.0	1.0–2.0	854	$1,184	$1.39	3d	2	1.30mi
835 York St Unit 2 Newport, KY	1.0	1.0	1000	$1,295	$1.29	18d	1	1.34mi
303 Greenup St Covington, KY	1.0	1.0	678	$1,445	$2.13	24d	1	1.34mi
210 W 5th St Newport, KY	1.0–2.0	1.0–2.0	845	$1,800	$2.13	4d	15	1.37mi
918 Highland Ave Fort Wright, KY	1.0	1.0	525	$995	$1.90	22d	1	1.37mi
920 Highland Ave Fort Wright, KY	1.0	1.0	525	$1,045	$1.99	16d	1	1.38mi
515 Main St Covington, KY	1.0–2.0	1.0–2.0	934	$2,215	$2.37	3d	8	1.38mi
1431 Dixie Hwy Park Hills, KY	1.0–2.0	1.0–2.0	920	$2,553	$2.77	3d	10	1.39mi
119 W 33rd St Unit 1 Latonia, KY	1.0	1.0	900	$1,075	$1.19	24d	1	1.39mi
2335 Alexandria Pike Southgate, KY	2.0	1.0	557	$1,140	$2.04	3d	17	1.43mi
24 Woodland Hills Dr #11 Southgate, KY	2.0	2.0	950	$1,445	$1.52	8d	1	1.50mi

Listing history 2 events

1. 2026-04-27
   status Pending
2. 2026-04-24
   listed $140,000 Active

ⓘ 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: $1,204 · $100/mo
• Expected delta: +$225/yr (+$19/mo · 23.0%)

ⓘ 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 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: $15,831
• − Mortgage interest: −$7,842
• − Property taxes: −$979
• − Insurance: −$700
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$4,073
• Taxable loss: −$295
• Est. tax savings @ 24.0%: +$71
• After-tax cash flow: $2,089/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): 7,392
• Household income: $61,382
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 511.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 10% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -172.77%
• Current HPI: 233.8216
• Rent YoY: ▲ 5.13%
• 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

2 events — show timeline

• 2026-04-27 Pending — NKMLS
• 2026-04-24 Listed $140,000 NKMLS

Property tax history

+2.6%/yr

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