1712 Garrard St · Covington, KY 41014

$149,900

2 bd · 2.0 ba · 1,520 sqft · SingleFamily public records · 55 Days on market

Built 1925 2,500 sqft lot Est $214k · 30% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 3 bedroom home w/ off street parking, 2 full bathrooms! Call today for a showing.

Key facts

• Piece of history
• Convenient location
• 2,500 sq ft lot

Tags

• CONVENIENT LOCATION
• PIECE OF HISTORY

Property features AI

Exterior

• Parking: Driveway; Off-street parking; On-street parking
• Utilities: Public water; Public sewer; Cable available; Natural gas available
• Home design: Single family residence; Two levels; Built in 1925
• Construction: Aluminum siding; Stone foundation; Shingle roof
• Exterior features: Enclosed patio/porch; Patio; Porch; Wood window frames

Interior

• Kitchen: Electric range; Refrigerator; Kitchen (15.11 x 15.7)
• Bedrooms: Primary bedroom (12.5 x 15.1); Bedroom 2 (15.11 x 14.9)
• Bathrooms: 2 full bathrooms; Primary bath (6.8 x 5.7); Bathroom 2 (4.8 x 7.1)
• Heating & cooling: Forced air heating
• Interior features: High ceilings; Entry (15 x 9.9); Living room (15.11 x 15.3); Dining room (12.5 x 16.1)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $581 ($7k/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: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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); 59 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 $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.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 19y 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 $95k; list at $150k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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 1925 — 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: 1.31% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.61%
• DSCR: 1.74
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $214,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
329 E 16th St	0.10mi	2/2.0	1,454 (-4%)	2mo	$90,000	$62	86
218 Pleasant St	0.42mi	2/2.0	1,476 (-3%)	1mo	$80,000	$54	75
1942 Eastern Ave	0.28mi	3/1.5 (+1)	1,418 (-7%)	0mo	$200,000	$141	68
2009 Russell St	0.52mi	2/1.5	1,602 (+5%)	3mo	$145,000	$91	62
515 Delmar Pl	0.27mi	3/2.0 (+1)	1,696 (+12%)	2mo	$195,500	$115	62
113 Trevor St	0.50mi	3/2.0 (+1)	1,425 (-6%)	3mo	$205,000	$144	59
202 W 18th St	0.47mi	3/1.5 (+1)	1,436 (-6%)	4mo	$219,000	$153	59
2018 Pearl St	0.34mi	2/2.0	1,312 (-14%)	4mo	$70,000	$53	58
516 W 12th St	0.70mi	3/2.0 (+1)	1,434 (-6%)	2mo	$260,000	$181	51
316 W 21st St	0.60mi	2/1.0	1,376 (-10%)	1mo	$205,000	$149	51
1718 Woodburn Ave	0.58mi	3/2.5 (+1)	1,680 (+10%)	3mo	$244,000	$145	46
507 Highland Pike	0.71mi	3/1.5 (+1)	1,696 (+12%)	4mo	$85,000	$50	38

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: 10.0%
• Equity multiple: 1.40×
• Total profit: $16,991
• Equity at exit: $22,351

10-year hold

• IRR: 20.8%
• Equity multiple: 2.93×
• Total profit: $80,801
• Equity at exit: $12,961

Cash invested: $41,972 (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 41014

• Rents YoY: 5.1%
• Active inventory: 59
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,963 high
• Mortgage (P&I): −$786
• Tax from tax record: −$121 /mo · $1,452/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $581

Break-even live

Break-even rent $1,227

Max offer price $149,900

Occupancy floor 65%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 16 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	0.29mi
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	4d	1	0.31mi
1025 Scott St Unit 2 Covington, KY	2.0	2.0	1100	$1,800	$1.64	3d	1	0.70mi
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	24d	1	0.81mi
2307 Center St Covington, KY	3.0	1.5	1216	$1,950	$1.60	7d	1	0.84mi
634 Greenup St Covington, KY	1.0	1.5	1050	$1,595	$1.52	7d	1	0.95mi
508 Greenup St Unit 508-02 Covington, KY	2.0	1.0	1220	$1,800	$1.48	2d	1	1.08mi
809 Isabella St Newport, KY	2.0	2.0	1519	$2,200	$1.45	44d	1	1.09mi
1700 Aspen Pines Dr Wilder, KY	1.0–3.0	1.0–2.5	1420	$1,895	$1.33	2d	14	1.13mi
203 W 8th St Newport, KY	2.0	1.5	1456	$2,300	$1.58	21d	1	1.16mi
103 E 3rd St Covington, KY	2.0	2.5	1291	$3,250	$2.52	2d	1	1.26mi
515 Main St Covington, KY	1.0–2.0	1.0–2.0	934	$2,215	$2.37	2d	8	1.30mi
210 W 5th St Newport, KY	1.0–2.0	1.0–2.0	845	$1,800	$2.13	3d	15	1.31mi
1431 Dixie Hwy Park Hills, KY	1.0–2.0	1.0–2.0	920	$2,553	$2.77	2d	10	1.34mi
50 W Rivercenter Blvd Covington, KY	1.0–2.0	1.0–2.5	1273	$3,640	$2.86	2d	9	1.42mi
1044 Washington Ave #2 Newport, KY	2.0	2.0	1250	$1,800	$1.44	44d	1	1.42mi

Listing history 29 events

1. 2026-06-18
   days on market $149,900 Active 55 DOM
2. 2026-06-17
   days on market $149,900 Active 54 DOM
3. 2026-06-16
   days on market $149,900 Active 53 DOM
4. 2026-06-15
   days on market $149,900 Active 52 DOM
5. 2026-06-09
   days on market $149,900 Active 46 DOM
6. 2026-06-08
   days on market $149,900 Active 45 DOM
7. 2026-06-07
   statusdays on market $149,900 Active 44 DOM
8. 2026-05-15
   status Pending
9. 2026-05-01
   price $149,900
10. 2026-03-26
    listed $154,900 Active
11. 2021-01-08
    soldstatus $95,000
12. 2020-12-17
    soldstatus $95,000 Closed 92-char remark

    Show marketing remark (92 chars)

    Beautiful 3 bedroom home w/ off street parking, 2 full bathrooms! Call today for a showing.

13. 2020-12-04
    status Pending 92-char remark

    Show marketing remark (92 chars)

    Beautiful 3 bedroom home w/ off street parking, 2 full bathrooms! Call today for a showing.

14. 2020-11-09
    price $114,900 92-char remark

    Show marketing remark (92 chars)

    Beautiful 3 bedroom home w/ off street parking, 2 full bathrooms! Call today for a showing.

15. 2020-10-29
    listed $119,900 Active 92-char remark

    Show marketing remark (92 chars)

    Beautiful 3 bedroom home w/ off street parking, 2 full bathrooms! Call today for a showing.

16. 2020-09-25
    historical
17. 2020-09-23
    listed $104,900 Active
18. 2019-06-27
    soldstatus $32,000
19. 2019-05-30
    listed $36,000
20. 2019-05-02
    historical
21. 2019-04-24
    listed $45,999
22. 2018-09-05
    historical
23. 2018-05-31
    listed $62,000
24. 2012-05-25
    historical
25. 2012-03-12
    listed $19,900
26. 2010-07-31
    historical
27. 2009-06-30
    listed $69,000
28. 2007-09-28
    soldstatus $26,000
29. 2007-04-13
    listed $25,900

ⓘ 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: $1,452 · $121/mo
• Projected year-2 tax: $1,452 · $121/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 ≥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: $23,550
• − Mortgage interest: −$8,397
• − Property taxes: −$1,452
• − Insurance: −$750
• − Repairs & maintenance: −$1,884
• − Management: −$1,884
• − Depreciation: −$4,361
• Taxable income: $4,824
• Est. tax owed @ 24.0%: −$1,158
• After-tax cash flow: $5,813/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

+478.8% since first listed

22 events — show timeline

• 2026-05-15 Pending — NKMLS
• 2026-05-01 Price Changed $149,900 NKMLS
• 2026-03-26 Listed $154,900 NKMLS
• 2021-01-08 Sold (Public Records) $95,000 Public Records
• 2020-12-17 Sold (MLS) $95,000 NKMLS
• 2020-12-04 Pending — NKMLS
• 2020-11-09 Price Changed $114,900 NKMLS
• 2020-10-29 Listed $119,900 NKMLS
• 2020-09-25 Listing Removed — NKMLS
• 2020-09-23 Listed $104,900 NKMLS
• 2019-06-27 Sold (MLS) $32,000 NKMLS
• 2019-05-30 Listed $36,000 NKMLS
• 2019-05-02 Listing Removed — NKMLS
• 2019-04-24 Listed $45,999 NKMLS
• 2018-09-05 Listing Removed — NKMLS
• 2018-05-31 Listed $62,000 NKMLS
• 2012-05-25 Listing Removed — NKMLS
• 2012-03-12 Listed $19,900 NKMLS
• 2010-07-31 Listing Removed — NKMLS
• 2009-06-30 Listed $69,000 NKMLS
• 2007-09-28 Sold (MLS) $26,000 NKMLS
• 2007-04-13 Listed $25,900 NKMLS

Property tax history

+13.1%/yr

Latest (2025): $1,452 · +0.7% YoY. Source: county tax records.