1920 Garrard St · Covington, KY 41014

$169,900

2 bd · 1.5 ba · 1,364 sqft · SingleFamily public records · 79 Days on market

Built 1917 2,550 sqft lot Est $203k · 16% under

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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).

• ARV discount +14.9/15.0
• Cash flow +14.8/30.0
• DSCR +4.5/10.0
• Livability +4.3/5.0
• 1% rule +4.2/10.0
• 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

Excellent opportunity to make this brick home your own! Enjoy the inviting covered front porch, fenced yard, & patio. Hardwood floors in the dining room & large living room featuring decorative woodwork & fireplace. Generously sized kitchen has been updated but needs appliances. 2 bedrooms boast hardwood floors & overhead fans. Modernized bath w/ tub & pedestal sink. Some windows have been replaced. Most exterior trim has been vinyl wrapped for low maintenance. Great location & priced to sell! This is a great value add situation for investors or owner occupied buyers.

Key facts

• Covered front porch
• Decorative fireplace
• Formal dining room

Tags

• COVERED FRONT PORCH
• DECORATIVE FIREPLACE
• FORMAL DINING ROOM
• UPDATED KITCHEN
• GAS RANGE
• DEDICATED LAUNDRY AREA

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family house; Two levels; Built in 1917
• Construction: Brick construction; Block foundation; Shingle roof
• Exterior features: Privacy fencing; Lot dimensions approximately 25 x 100

Interior

• Kitchen: Gas range; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom (13 x 13); Second bedroom (16 x 8)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Natural woodwork; Brick fireplace
• Laundry & utility: Full basement (utility/storage space)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $47 ($566/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 $157k (7.8% below list).
• Recommended offer: $157k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.3% in Covington — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).
• This rent runs 31% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 79 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: built in 1917 — 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 $156,573 (7.8% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.92% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $203,236
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1942 Eastern Ave	0.15mi	3/1.5 (+1)	1,418 (+4%)	0mo	$200,000	$141	81
2018 Pearl St	0.22mi	2/2.0	1,312 (-4%)	4mo	$70,000	$53	78
329 E 16th St	0.28mi	2/2.0	1,454 (+7%)	2mo	$90,000	$62	72
316 W 21st St	0.52mi	2/1.0	1,376 (+1%)	1mo	$205,000	$149	71
202 W 18th St	0.49mi	3/1.5 (+1)	1,436 (+5%)	4mo	$219,000	$153	60
218 Pleasant St	0.61mi	2/2.0	1,476 (+8%)	1mo	$80,000	$54	55
2307 Herman St	0.57mi	3/1.0 (+1)	1,264 (-7%)	0mo	$145,000	$115	54
218 W 21st St	0.48mi	3/2.0 (+1)	1,240 (-9%)	3mo	$246,500	$199	53
1735 Woodburn Ave	0.61mi	3/1.5 (+1)	1,255 (-8%)	1mo	$259,900	$207	52
9 Madison Ct	0.68mi	3/2.0 (+1)	1,297 (-5%)	2mo	$230,000	$177	51
113 Trevor St	0.69mi	3/2.0 (+1)	1,425 (+4%)	3mo	$205,000	$144	51
1733 Jefferson Ave	0.75mi	3/1.5 (+1)	1,203 (-12%)	1mo	$242,000	$201	40

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: -12.0%
• Equity multiple: 0.56×
• Total profit: $-21,066
• Equity at exit: $25,333

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $348
• Equity at exit: $14,690

Cash invested: $47,572 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,566 high
• Mortgage (P&I): −$891
• Tax from tax record: −$228 /mo · $2,736/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $47

Break-even live

Break-even rent $1,506

Max offer price $169,900

Occupancy floor 92%

Sensitivity live

Price	-10% $143	-5% $95	+0% $47	+5% $-1	+10% $-49
Rent	-10% $-77	-5% $-15	+0% $47	+5% $109	+10% $171
Rate	-1.0pp $133	-0.5pp $90	base $47	+0.5pp $3	+1.0pp $-42

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,729	$1.08	0d	1	0.11mi
1914 Eastern Ave Apt 3 Covington, KY	1.0	1.0	900	$995	$1.11	16d	1	0.14mi
1927 Scott St Apt 1 Covington, KY	3.0	2.0	1865	$2,100	$1.13	22d	1	0.20mi
512 Wallace Ave Unit 512/18 Covington, KY	2.0	2.0	900	$1,299	$1.44	9d	1	0.23mi
310 E 16th St Covington, KY	3.0	1.0	1300	$1,295	$1.00	0d	1	0.30mi
1551 Holman Ave Covington, KY	3.0	1.0	1379	$1,425	$1.03	0d	1	0.66mi
344 E 13th St Unit 1 Covington, KY	2.0	1.0	1000	$1,275	$1.27	25d	1	0.67mi
2307 Center St Covington, KY	3.0	1.5	1216	$1,950	$1.60	9d	1	0.72mi
1209 Holman St Unit 2 Covington, KY	1.0	1.0	980	$1,225	$1.25	0d	1	0.90mi
1025 Scott St Unit 2 Covington, KY	2.0	2.0	1100	$1,800	$1.64	5d	1	0.91mi
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	25d	1	0.97mi
1700 Aspen Pines Dr Wilder, KY	1.0–3.0	1.0–2.5	1420	$1,895	$1.33	0d	14	0.98mi
634 Greenup St Covington, KY	1.0	1.5	1050	$1,595	$1.52	9d	1	1.16mi
1114 Columbia St Unit 2 Newport, KY	1.0	1.0	925	$1,550	$1.68	46d	1	1.22mi
521 Garrard St Apt 3 Covington, KY	1.0	1.0	875	$1,996	$2.28	16d	1	1.24mi
119 W 33rd St Unit 1 Latonia, KY	1.0	1.0	900	$1,075	$1.19	25d	1	1.26mi
809 Isabella St Newport, KY	2.0	2.0	1519	$2,200	$1.45	46d	1	1.28mi
508 Greenup St Unit 508-02 Covington, KY	2.0	1.0	1220	$1,800	$1.48	4d	1	1.29mi
203 W 8th St Newport, KY	2.0	1.5	1456	$2,300	$1.58	0d	1	1.35mi
911 Putnam St #2 Newport, KY	2.0	1.0	1000	$1,600	$1.60	23d	1	1.39mi
1431 Dixie Hwy Park Hills, KY	1.0–2.0	1.0–2.0	920	$2,553	$2.77	0d	10	1.40mi
24 Woodland Hills Dr #11 Southgate, KY	2.0	2.0	950	$1,445	$1.52	9d	1	1.42mi
437 W 6th St Covington, KY	2.0	1.0–2.0	741	$2,799	$3.77	0d	11	1.46mi
400 Lakeview Dr #5 Wilder, KY	2.0	2.0	1100	$1,495	$1.36	5d	1	1.46mi
835 York St Unit 2 Newport, KY	1.0	1.0	1000	$1,295	$1.29	19d	1	1.47mi
103 E 3rd St Covington, KY	2.0	2.0–2.5	1148	$3,035	$2.64	0d	2	1.47mi
2220 Cityscape Dr Covington, KY	1.0–2.0	1.0–2.0	932	$2,030	$2.18	0d	8	1.48mi
515 Main St Covington, KY	1.0–2.0	1.0–2.0	907	$2,215	$2.44	0d	11	1.49mi
1222 E Henry Clay Ave Fort Wright, KY	3.0	1.5	1200	$1,548	$1.29	25d	1	1.50mi

Listing history 33 events

1. 2026-06-21
   days on market $169,900 Active 79 DOM
2. 2026-06-18
   days on market $169,900 Active 76 DOM
3. 2026-06-17
   days on market $169,900 Active 75 DOM
4. 2026-06-16
   days on market $169,900 Active 74 DOM
5. 2026-06-15
   days on market $169,900 Active 73 DOM
6. 2026-06-09
   days on market $169,900 Active 67 DOM
7. 2026-06-08
   days on market $169,900 Active 66 DOM
8. 2026-06-07
   days on market $169,900 Active 65 DOM
9. 2026-06-03
   days on market $169,900 Active 61 DOM
10. 2026-06-02
    days on market $169,900 Active 60 DOM
11. 2026-06-01
    days on market $169,900 Active 59 DOM
12. 2026-05-31
    days on market $169,900 Active 58 DOM
13. 2026-05-15
    price $169,900
14. 2026-04-04
    listed $174,900 Active
15. 2024-09-05
    soldstatus $240,000
16. 2021-08-13
    soldstatus $98,000
17. 2021-08-05
    soldstatus $98,000 Closed 598-char remark

    Show marketing remark (598 chars)

    Excellent opportunity to make this brick home your own! Enjoy the inviting covered front porch, fenced yard, & patio. Hardwood floors in the dining room & large living room featuring decorative woodwork & fireplace. Generously sized kitchen has been updated but needs appliances. 2 bedrooms boast hardwood floors & overhead fans. Modernized bath w/ tub & pedestal sink. Some windows have been replaced. Most exterior trim has been vinyl wrapped for low maintenance. Great location & priced to sell! This is a great value add situation for investors or owner occupied buyers.

18. 2021-07-22
    status Pending 598-char remark

    Show marketing remark (598 chars)

    Excellent opportunity to make this brick home your own! Enjoy the inviting covered front porch, fenced yard, & patio. Hardwood floors in the dining room & large living room featuring decorative woodwork & fireplace. Generously sized kitchen has been updated but needs appliances. 2 bedrooms boast hardwood floors & overhead fans. Modernized bath w/ tub & pedestal sink. Some windows have been replaced. Most exterior trim has been vinyl wrapped for low maintenance. Great location & priced to sell! This is a great value add situation for investors or owner occupied buyers.

19. 2021-07-20
    listed $99,900 Active 598-char remark

    Show marketing remark (598 chars)

    Excellent opportunity to make this brick home your own! Enjoy the inviting covered front porch, fenced yard, & patio. Hardwood floors in the dining room & large living room featuring decorative woodwork & fireplace. Generously sized kitchen has been updated but needs appliances. 2 bedrooms boast hardwood floors & overhead fans. Modernized bath w/ tub & pedestal sink. Some windows have been replaced. Most exterior trim has been vinyl wrapped for low maintenance. Great location & priced to sell! This is a great value add situation for investors or owner occupied buyers.

20. 2011-11-05
    historical
21. 2011-09-27
    soldstatus $90,000
22. 2011-03-06
    listed $82,900
23. 2011-02-01
    historical
24. 2010-02-18
    listed $89,900
25. 2009-11-18
    historical
26. 2009-08-28
    listed $88,800
27. 2009-08-15
    historical
28. 2008-09-15
    listed $89,900
29. 2008-09-03
    historical
30. 2008-04-07
    listed $117,900
31. 2003-05-28
    soldstatus $67,500
32. 2003-05-23
    soldstatus $67,500
33. 2003-04-08
    listed $68,500

ⓘ 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: $2,736 · $228/mo
• Projected year-2 tax: $2,736 · $228/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: $18,789
• − Mortgage interest: −$9,517
• − Property taxes: −$2,736
• − Insurance: −$850
• − Repairs & maintenance: −$1,503
• − Management: −$1,503
• − Depreciation: −$4,943
• Taxable loss: −$2,262
• Est. tax savings @ 24.0%: +$543
• After-tax cash flow: $1,109/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

+148.0% since first listed

21 events — show timeline

• 2026-05-15 Price Changed $169,900 NKMLS
• 2026-04-04 Listed $174,900 NKMLS
• 2024-09-05 Sold (Public Records) $240,000 Public Records
• 2021-08-13 Sold (Public Records) $98,000 Public Records
• 2021-08-05 Sold (MLS) $98,000 NKMLS
• 2021-07-22 Pending — NKMLS
• 2021-07-20 Listed $99,900 NKMLS
• 2011-11-05 Listing Removed — NKMLS
• 2011-09-27 Sold (Public Records) $90,000 Public Records
• 2011-03-06 Listed $82,900 NKMLS
• 2011-02-01 Listing Removed — NKMLS
• 2010-02-18 Listed $89,900 NKMLS
• 2009-11-18 Listing Removed — NKMLS
• 2009-08-28 Listed $88,800 NKMLS
• 2009-08-15 Listing Removed — NKMLS
• 2008-09-15 Listed $89,900 NKMLS
• 2008-09-03 Listing Removed — NKMLS
• 2008-04-07 Listed $117,900 NKMLS
• 2003-05-28 Sold (Public Records) $67,500 Public Records
• 2003-05-23 Sold (MLS) $67,500 NKMLS
• 2003-04-08 Listed $68,500 NKMLS

Property tax history

+5.8%/yr

Latest (2025): $2,736 · +105.3% YoY. Source: county tax records.