109 Daniels St · Covington, KY 41015

$244,999

6 bd · 2.0 ba · 1,464 sqft · MultiFamily public records · 81 Days on market

Built 1945 2,500 sqft lot Est $165k · 48% over

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Why this score? — see what drove the C- 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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +6.4/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• 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 MLS

Very Nice Duplex!updated-newer Vinyl Floors,Cabinets,Carpet.4 Rooms Each W/Full Bath.Currently Ren As Two 2 Br Units For $400 Each.Easy To Rent.Very Large Full Basement W/Laundry Area.2 Stoves/2 Refrigerators

Key facts

• Cash flow potential
• Two units
• Rental income

Tags

• INVESTMENT OPPORTUNITY
• MULTI-FAMILY PROPERTY
• RENTAL INCOME
• TWO UNITS
• CASH FLOW POTENTIAL

Property features AI

Finance

• Financial info: 2 total units

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Multi-family property; Two levels
• Construction: Built in 1945; Vinyl and wood siding; Shingle roof; Block foundation; Double-hung windows with wood frames
• Exterior features: Irregular lot; 0.06 acre lot

Interior

• Kitchen: Electric range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window air conditioning
• Interior features: Fireplace; Full basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $657 ($8k/yr) — positive. Per door: $328/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $230k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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: 161 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 $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 $69k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $67k; list at $245k implies a 267% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $230,299 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.14% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $165,432
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708-710 W 35th St	0.66mi	5/2.0 (-1)	1,278 (-13%)	20mo	$144,250	$113	27

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $2,074
• Equity at exit: $36,530

10-year hold

• IRR: 10.4%
• Equity multiple: 1.81×
• Total profit: $55,466
• Equity at exit: $21,183

Cash invested: $68,600 (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: 161
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $2,790 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$161 /mo · $1,927/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $657

Break-even live

Break-even rent $1,959

Max offer price $244,999

Occupancy floor 71%

Sensitivity live

Price	-10% $795	-5% $726	+0% $657	+5% $587	+10% $518
Rent	-10% $436	-5% $546	+0% $657	+5% $767	+10% $877
Rate	-1.0pp $780	-0.5pp $719	base $657	+0.5pp $593	+1.0pp $529

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,790
Total (2 units)			$2,790

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-23
   status Pending
2. 2026-04-09
   status Active
3. 2026-03-26
   status Pending
4. 2026-03-11
   price $244,999
5. 2026-02-16
   listed $259,999 Active
6. 2000-01-11
   soldstatus $66,700
7. 2000-01-07
   soldstatus $66,700 208-char remark

   Show marketing remark (208 chars)

   Very Nice Duplex!updated-newer Vinyl Floors,Cabinets,Carpet.4 Rooms Each W/Full Bath.Currently Ren As Two 2 Br Units For $400 Each.Easy To Rent.Very Large Full Basement W/Laundry Area.2 Stoves/2 Refrigerators

8. 1999-11-09
   listed $69,900 208-char remark

   Show marketing remark (208 chars)

   Very Nice Duplex!updated-newer Vinyl Floors,Cabinets,Carpet.4 Rooms Each W/Full Bath.Currently Ren As Two 2 Br Units For $400 Each.Easy To Rent.Very Large Full Basement W/Laundry Area.2 Stoves/2 Refrigerators

9. 1995-08-21
   soldstatus $47,000

ⓘ 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: $1,927 · $161/mo
• Projected year-2 tax: $2,107 · $176/mo
• Expected delta: +$180/yr (+$15/mo · 9.3%)

ⓘ 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: $33,480
• − Mortgage interest: −$13,724
• − Property taxes: −$1,927
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,678
• − Management: −$2,678
• − Depreciation: −$7,127
• Taxable income: $4,120
• Est. tax owed @ 24.0%: −$989
• After-tax cash flow: $6,891/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

+421.3% since first listed

9 events — show timeline

• 2026-05-23 Pending — NKMLS
• 2026-04-09 Relisted — NKMLS
• 2026-03-26 Pending — NKMLS
• 2026-03-11 Price Changed $244,999 NKMLS
• 2026-02-16 Listed $259,999 NKMLS
• 2000-01-11 Sold (Public Records) $66,700 Public Records
• 2000-01-07 Sold (MLS) $66,700 NKMLS
• 1999-11-09 Listed $69,900 NKMLS
• 1995-08-21 Sold (Public Records) $47,000 Public Records

Property tax history

+14.4%/yr

Latest (2025): $1,927 · +0.7% YoY. Source: county tax records.