1942 Glenway Ave · Covington, KY 41014

$60,000

3 bd · 1.5 ba · 2,324 sqft · SingleFamily public records · 1 Days on market

Built 1923 4,122 sqft lot ↓ 57% since listing

---

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 +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Short sale. Property sold as-is. Foundation has vertical cracks at three corners extending from ground level--all require repair. Knob and tube electrical present and will need remediation. No A/C--system will need to be added. Flooring throughout is worn and needs updating. Kitchen is outdated and in rough condition. Bathroom floor has water damage and will need to be replaced.

Key facts

• 4,122 sq ft lot
• Garage
• Built 1923

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 31.6% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 43% 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 $415 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1923 — 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 $60,000

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.65% ✓
• Cap rate: 31.62%
• Cash-on-cash: 90.44%
• DSCR: 5.02
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $313,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2110 Eastern Ave	0.16mi	4/2.5 (+1)	2,325 (0%)	3mo	$450,000	$194	81
1549 Nancy St	0.45mi	4/2.5 (+1)	2,320 (-0%)	12mo	$253,000	$109	60
1613 Greenup St	0.52mi	4/3.0 (+1)	2,280 (-2%)	4mo	$350,000	$154	58
1809 Greenup St	0.43mi	2/1.5 (-1)	2,294 (-1%)	20mo	$295,000	$129	57
1919 Greenup St	0.39mi	4/3.5 (+1)	2,288 (-2%)	12mo	$391,500	$171	56
13 E 24th St	0.55mi	3/1.5	2,110 (-9%)	6mo	$270,000	$128	54
1921 Russell St	0.72mi	4/2.0 (+1)	2,280 (-2%)	15mo	$307,000	$135	44
302 Byrd St	0.66mi	3/2.0	2,064 (-11%)	16mo	$275,000	$133	35
1606 Scott St	0.56mi	4/2.0 (+1)	2,588 (+11%)	15mo	$285,000	$110	35
501 Grandview Ave	0.50mi	3/2.5	1,978 (-15%)	18mo	$368,000	$186	33
615 Grandview Ave	0.57mi	3/2.5	2,000 (-14%)	20mo	$200,000	$100	30
2216 Madison Ave	0.52mi	4/3.0 (+1)	2,000 (-14%)	17mo	$310,000	$155	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 · 5.13% rent growth · sell at horizon

5-year hold

• IRR: 93.6%
• Equity multiple: 5.51×
• Total profit: $75,784
• Equity at exit: $8,946

10-year hold

• IRR: 96.9%
• Equity multiple: 12.35×
• Total profit: $190,660
• Equity at exit: $5,188

Cash invested: $16,800 (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: 2.3×

Monthly cashflow live

• Estimated rent: $2,192 high
• Mortgage (P&I): −$315
• Tax from tax record: −$126 /mo · $1,510/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $1,266

Break-even live

Break-even rent $589

Max offer price $60,000

Occupancy floor 37%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	4d	1	0.32mi
1927 Scott St Apt 1 Covington, KY	3.0	2.0	1865	$2,100	$1.13	20d	1	0.46mi
1700 Aspen Pines Dr Wilder, KY	1.0–3.0	1.0–2.5	1420	$2,365	$1.67	2d	14	0.74mi
140 W 13th St Newport, KY	3.0	3.5	2505	$4,200	$1.68	12d	1	0.97mi
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	23d	1	1.19mi

Listing history 3 events

1. 2026-04-11
   status Pending
2. 2026-04-10
   listed $60,000 Active
3. 2018-06-26
   soldstatus $140,000

ⓘ 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: $1,510 · $126/mo
• Projected year-2 tax: $1,510 · $126/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: $26,304
• − Mortgage interest: −$3,361
• − Property taxes: −$1,510
• − Insurance: −$300
• − Repairs & maintenance: −$2,104
• − Management: −$2,104
• − Depreciation: −$1,745
• Taxable income: $15,179
• Est. tax owed @ 24.0%: −$3,643
• After-tax cash flow: $11,551/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

-57.1% since first listed

3 events — show timeline

• 2026-04-11 Pending — NKMLS
• 2026-04-10 Listed $60,000 NKMLS
• 2018-06-26 Sold (Public Records) $140,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $1,510 · -1.6% YoY. Source: county tax records.