319 E 42nd St · Covington, KY 41015

$150,000

4 bd · 2.0 ba · 1,862 sqft · SingleFamily public records · 50 Days on market

Built 1904 3,249 sqft lot Est $259k · 42% under

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Why this score? — see what drove the B- 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 +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.6/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large 4 Bed 1-1/2 Bath home in Latonia with off sreet parking from wide clean alley behind house. This house has been a good rental for the past 10 years with 100% occupancy. Could be a good income producer or home. Lots of updates including roof, hvac, water heater, complete new full bath on first floor,exterior pain in 2019. House being sold As-Is with no FHA/VA loans

Key facts

• First-floor bedroom
• Full bath
• Eat-in kitchen

Tags

• HARDWOOD FLOORS
• DECORATIVE FIREPLACES
• FIRST-FLOOR BEDROOM
• FULL BATH
• SPACIOUS LAUNDRY ROOM
• EAT-IN KITCHEN

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Cable available; Natural gas available; Water and sewer available
• Home design: Single family residence; Two levels; House; Has view
• Construction: Built in 1904; Wood siding exterior; Asphalt shingle roof; Block and stone foundation; Vinyl window frames
• Exterior features: Covered porch; Sunroom / enclosed back porch (18 x 7); Cleared lot; City street frontage; Paved road

Interior

• Kitchen: Electric range; Refrigerator; Eat-in kitchen with pantry
• Bedrooms: Primary bedroom (13 x 13); Bedroom 2 with fireplace (13 x 13); Bedroom 3 with fireplace (14 x 13); Bedroom 4 (13 x 12)
• Flooring: Laminate counters noted (flooring type not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom; Primary bathroom (14 x 7); Secondary bathroom (7 x 6)
• Heating & cooling: Central air; Forced air heating
• Interior features: Laminate counters; Walk-in closet(s); Pantry; Entrance foyer; Eat-in kitchen; Double vanity; Ceiling fan(s); Storage; Inoperable fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: Latonia Elementary School (math 12% / reading 32%, grade F, #525 of 676 statewide, top 82%, 285 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: 158 active listings in the ZIP; 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 $1k 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

• It's been on market 50 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• 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 $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.64%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $258,818
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
319 E 42nd St	0.00mi	4/1.5	1,900 (+2%)	1mo	$143,000	$75	94
4319 Mckee St	0.10mi	4/2.0	2,016 (+8%)	4mo	$245,000	$122	78
4344 Decoursey Ave	0.16mi	4/2.0	1,700 (-9%)	4mo	$239,000	$141	75
4344 Vermont Ave	0.20mi	3/3.0 (-1)	1,800 (-3%)	2mo	$249,900	$139	75
116 E 42nd St	0.22mi	3/2.0 (-1)	1,758 (-6%)	1mo	$140,000	$80	74
3914 Church St	0.29mi	3/1.5 (-1)	1,800 (-3%)	0mo	$295,000	$164	74
141 E 42nd St	0.16mi	3/2.0 (-1)	1,730 (-7%)	3mo	$80,000	$46	73
36 E 41st St	0.36mi	3/1.5 (-1)	1,920 (+3%)	1mo	$262,000	$136	70
3929 Lincoln Ave	0.25mi	3/2.0 (-1)	1,734 (-7%)	4mo	$259,900	$150	69
3911 Church St	0.32mi	4/1.5	2,000 (+7%)	10mo	$278,000	$139	63
4312 Church St	0.29mi	3/2.0 (-1)	1,615 (-13%)	0mo	$226,600	$140	59
3905 Locke St	0.40mi	3/1.5 (-1)	1,605 (-14%)	4mo	$250,000	$156	48

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: -0.4%
• Equity multiple: 0.99×
• Total profit: $-585
• Equity at exit: $22,365

10-year hold

• IRR: 9.3%
• Equity multiple: 1.72×
• Total profit: $30,058
• Equity at exit: $12,969

Cash invested: $42,000 (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: 158
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,745 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$157 /mo · $1,888/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $372

Break-even live

Break-even rent $1,274

Max offer price $150,000

Occupancy floor 74%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-05-14
   status Pending
2. 2026-05-04
   price $150,000
3. 2026-04-09
   price $159,000
4. 2026-03-25
   listed $165,000 Active
5. 2024-05-06
   soldstatus $140,000
6. 2024-05-03
   soldstatus $140,000 Sold 375-char remark

   Show marketing remark (375 chars)

   Large 4 Bed 1-1/2 Bath home in Latonia with off sreet parking from wide clean alley behind house. This house has been a good rental for the past 10 years with 100% occupancy. Could be a good income producer or home. Lots of updates including roof, hvac, water heater, complete new full bath on first floor,exterior pain in 2019. House being sold As-Is with no FHA/VA loans

7. 2024-03-29
   status Pending 375-char remark

   Show marketing remark (375 chars)

   Large 4 Bed 1-1/2 Bath home in Latonia with off sreet parking from wide clean alley behind house. This house has been a good rental for the past 10 years with 100% occupancy. Could be a good income producer or home. Lots of updates including roof, hvac, water heater, complete new full bath on first floor,exterior pain in 2019. House being sold As-Is with no FHA/VA loans

8. 2024-03-07
   listed $145,000 Active 375-char remark

   Show marketing remark (375 chars)

   Large 4 Bed 1-1/2 Bath home in Latonia with off sreet parking from wide clean alley behind house. This house has been a good rental for the past 10 years with 100% occupancy. Could be a good income producer or home. Lots of updates including roof, hvac, water heater, complete new full bath on first floor,exterior pain in 2019. House being sold As-Is with no FHA/VA loans

9. 2022-11-08
   historical
10. 2014-08-06
    soldstatus $30,604 81-char remark

    Show marketing remark (81 chars)

    Short Sale Sold As is. Needs complete Rehab. Foundation is leaking into basement.

11. 2013-10-11
    listed $30,000 81-char remark

    Show marketing remark (81 chars)

    Short Sale Sold As is. Needs complete Rehab. Foundation is leaking into basement.

12. 2006-07-18
    soldstatus $20,000
13. 2006-07-17
    soldstatus $20,000
14. 2006-06-15
    listed $25,000
15. 2003-12-18
    soldstatus $50,000

ⓘ 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: $1,888 · $157/mo
• Projected year-2 tax: $1,888 · $157/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥102°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: $20,943
• − Mortgage interest: −$8,402
• − Property taxes: −$1,888
• − Insurance: −$750
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$4,364
• Taxable income: $2,189
• Est. tax owed @ 24.0%: −$525
• After-tax cash flow: $3,943/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

+200.0% since first listed

15 events — show timeline

• 2026-05-14 Pending — NKMLS
• 2026-05-04 Price Changed $150,000 NKMLS
• 2026-04-09 Price Changed $159,000 NKMLS
• 2026-03-25 Listed $165,000 NKMLS
• 2024-05-06 Sold (Public Records) $140,000 Public Records
• 2024-05-03 Sold (MLS) $140,000 NKMLS
• 2024-03-29 Pending — NKMLS
• 2024-03-07 Listed $145,000 NKMLS
• 2022-11-08 Rental Removed — RENT.
• 2014-08-06 Sold (MLS) $30,604 NKMLS
• 2013-10-11 Listed $30,000 NKMLS
• 2006-07-18 Sold (Public Records) $20,000 Public Records
• 2006-07-17 Sold (MLS) $20,000 NKMLS
• 2006-06-15 Listed $25,000 NKMLS
• 2003-12-18 Sold (Public Records) $50,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,888 · +12.3% YoY. Source: county tax records.