1107 John St · Covington, KY 41016

$240,000

4 bd · 1.0 ba · 1,706 sqft · MultiFamily public records · 31 Days on market

6,371 sqft lot ↓ 14% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great investment opportunity in the heart of Covington! This updated duplex offers strong income potential with a desirable mix of occupied and vacant units. The upper-level unit features 2 bedrooms and 1 full bath and is currently leased through May 2027 at $1,200/month, providing immediate rental income and stability. The lower-level unit offers 3 bedrooms and 1 full bath and was previously rented for $1,500/month but is currently vacant, creating an excellent opportunity for an owner-occupant or investor to set new market rent. Both units have been updated, and the attached 2-car garage offers additional storage, convenience, or potential for added rental income. Property is being sold a

Key facts

• Updated duplex
• 6,371 sq ft lot
• 2 garage spots

Tags

• INVESTMENT OPPORTUNITY
• STRONG INCOME POTENTIAL
• UPDATED DUPLEX
• OCCUPIED AND VACANT UNITS
• IMMEDIATE RENTAL INCOME
• ATTACHED 2-CAR GARAGE

Property features AI

Exterior

• Parking: Garage; 2-car garage
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex; Two levels; Multi-family property; Has a view
• Construction: Vinyl siding; Shingle roof; Block foundation
• Exterior features: Deck; Fire pit; Partial wrought iron fencing

Interior

• Kitchen: Electric oven; Electric cooktop; Dishwasher; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Storage; Pantry; High speed internet available; Granite counters; Decorative, inoperable fireplace; Full basement
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $812/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Recommended offer: $233k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.7% 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: 92 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).
• At $4,140/mo this rent would consume 70% of the median local household income ($71k/yr) (locally 95% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $232,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.73% ✓
• Cap rate: 14.74%
• Cash-on-cash: 30.17%
• DSCR: 2.34
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.4%
• Equity multiple: 1.96×
• Total profit: $64,554
• Equity at exit: $35,785

10-year hold

• IRR: 31.3%
• Equity multiple: 3.82×
• Total profit: $189,569
• Equity at exit: $20,751

Cash invested: $67,200 (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 41016

• Active inventory: 92
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $4,140 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$222 /mo · $2,667/yr
• Insurance: −$100
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$869
• Net cashflow: $1,623

Break-even live

Break-even rent $2,085

Max offer price $240,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,759	-5% $1,691	+0% $1,623	+5% $1,555	+10% $1,487
Rent	-10% $1,296	-5% $1,460	+0% $1,623	+5% $1,787	+10% $1,950
Rate	-1.0pp $1,744	-0.5pp $1,684	base $1,623	+0.5pp $1,561	+1.0pp $1,498

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,864
1× unit	3	1	$2,276
Total (2 units)			$4,140

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Swain Ct Covington, KY	1.0–3.0	1.0–2.0	951	$2,295	$2.41	0d	3	0.26mi
239 Forest Ave Ludlow, KY	3.0	1.0	1146	$1,395	$1.22	19d	1	0.97mi
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	25d	1	1.24mi
309 Vine St Cincinnati, OH	1.0–3.0	1.0–2.0	955	$3,334	$3.49	3d	15	1.32mi
1 W 4th St Cincinnati, OH	3.0	1.0–3.5	1675	$9,200	$5.49	5d	96	1.34mi
417 Vine St Cincinnati, OH	3.0	2.0	1602	$2,950	$1.84	16d	1	1.37mi
2454 River Rd Unit 2 Cincinnati, OH	4.0	1.0	1400	$1,595	$1.14	25d	1	1.44mi

Listing history 16 events

1. 2026-06-21
   days on market $240,000 Active 31 DOM
2. 2026-06-18
   days on market $240,000 Active 28 DOM
3. 2026-06-17
   days on market $240,000 Active 27 DOM
4. 2026-06-16
   days on market $240,000 Active 26 DOM
5. 2026-06-15
   days on market $240,000 Active 25 DOM
6. 2026-06-09
   days on market $240,000 Active 19 DOM
7. 2026-06-08
   days on market $240,000 Active 18 DOM
8. 2026-06-07
   days on market $240,000 Active 17 DOM
9. 2026-06-03
   days on market $240,000 Active 13 DOM
10. 2026-06-02
    days on market $240,000 Active 12 DOM
11. 2026-06-01
    days on market $240,000 Active 11 DOM
12. 2026-05-31
    days on market $240,000 Active 10 DOM
13. 2026-05-21
    listed $240,000 Active
14. 2025-09-15
    historical
15. 2025-03-26
    price $270,000
16. 2025-03-13
    listed $280,000 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: $2,667 · $222/mo
• Projected year-2 tax: $2,667 · $222/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,680
• − Mortgage interest: −$13,444
• − Property taxes: −$2,667
• − Insurance: −$1,997
• − Repairs & maintenance: −$3,974
• − Management: −$3,974
• − Depreciation: −$6,982
• Taxable income: $16,641
• Est. tax owed @ 24.0%: −$3,994
• After-tax cash flow: $15,486/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): 5,795
• Household income: $71,172
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 95.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 10% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Romanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 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: ▼ -141.84%
• Current HPI: 215.1436
• Rent YoY: —
• 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

-14.3% since first listed

4 events — show timeline

• 2026-05-21 Listed $240,000 NKMLS
• 2025-09-15 Listing Removed — NKMLS
• 2025-03-26 Price Changed $270,000 NKMLS
• 2025-03-13 Listed $280,000 NKMLS

Property tax history

+10.1%/yr

Latest (2025): $2,667 · +273.3% YoY. Source: county tax records.