37 Goodridge Dr · Florence, KY 41042

$63,700

1 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 8 Days on market

Built 1948 1.39 ac lot

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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
• Schools +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This bungalow sits back off the main street and is nestled on over one acre of land. Enjoy warm weather evenings relaxing on your front porch. With your vision, some TLC and finishing work, this property could be a doll house! Call for an appointment today!

Key facts

• 1.39 acre lot
• Parking
• Built 1948

Property features AI

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family home; One level
• Construction: Built in 1948; Vinyl siding; Block foundation
• Exterior features: Shingle roof

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Crawl space / partial basement
• Laundry & utility: Utility areas (details not provided)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Cap rate 16.4% vs local median 3.4% in Florence — 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 78/100 on livability (#82 in KY, #2,763 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-.
• Boone County (suburban): math 43% / reading 49% proficiency, ranked #12 of 165 in KY (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hillard Collins Elementary School (math 22% / reading 25%, grade F, #515 of 676 statewide, top 77%, 483 students, 65% FRL); Rector A. Jones Middle School (math 11% / reading 29%, grade F, #206 of 217 statewide, top 95%, 679 students, 74% FRL); Boone County High School (math 21% / reading 32%, grade F, #174 of 254 statewide, top 69%, 1,279 students, 53% FRL) — zoned schools average 64% FRL vs 30% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 46% district-wide (-23 pts) — the specific schools serving this property underperform the Boone County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.4%/yr); 265 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,430 units permitted in Boone County in 2024 (928 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $440 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Boone County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $36k; list at $64k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,700

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.95% ✓
• Cap rate: 16.41%
• Cash-on-cash: 36.12%
• DSCR: 2.61
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $202,720
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
82 Goodridge Dr	0.21mi	2/1.0 (+1)	1,074 (-4%)	12mo	$185,000	$172	68
104 Eastern Ave	0.33mi	2/1.0 (+1)	1,186 (+6%)	13mo	$211,500	$178	59
12 Dortha Ave	0.35mi	2/1.0 (+1)	1,008 (-10%)	5mo	$115,000	$114	58
62 Sanders Dr	0.20mi	2/1.0 (+1)	992 (-11%)	10mo	$180,000	$181	58
10 Lloyd Ave	0.62mi	2/1.0 (+1)	1,122 (+0%)	12mo	$222,000	$198	56
712 Bedinger St	0.71mi	2/1.0 (+1)	1,197 (+7%)	2mo	$227,000	$190	49
40 Eastern Ave	0.28mi	2/1.0 (+1)	986 (-12%)	16mo	$127,500	$129	49
635 Willow St	0.74mi	2/1.5 (+1)	1,136 (+1%)	10mo	$175,000	$154	48
24 Saint Jude Cir	0.57mi	2/2.0 (+1)	1,031 (-8%)	12mo	$223,000	$216	41
9 Beverly Pl	0.45mi	2/1.0 (+1)	996 (-11%)	19mo	$195,000	$196	39
15 Sweetbriar Ave	0.66mi	2/1.0 (+1)	952 (-15%)	6mo	$180,000	$189	34

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 · 3.42% rent growth · sell at horizon

5-year hold

• IRR: 32.4%
• Equity multiple: 2.37×
• Total profit: $24,424
• Equity at exit: $9,498

10-year hold

• IRR: 39.6%
• Equity multiple: 4.79×
• Total profit: $67,578
• Equity at exit: $5,508

Cash invested: $17,836 (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 41042

• Rents YoY: 3.4%
• Active inventory: 265
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,245 high
• Mortgage (P&I): −$334
• Tax from tax record: −$86 /mo · $1,032/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $537

Break-even live

Break-even rent $565

Max offer price $63,700

Occupancy floor 52%

Sensitivity live

Price	-10% $573	-5% $555	+0% $537	+5% $519	+10% $501
Rent	-10% $439	-5% $488	+0% $537	+5% $586	+10% $635
Rate	-1.0pp $569	-0.5pp $553	base $537	+0.5pp $520	+1.0pp $504

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: $15,925
• Closing costs: $1,911
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
43 Banklick St Florence, KY	2.0	2.0	1265	$1,355	$1.07	3d	3	0.29mi
6827 Shenandoah Dr Florence, KY	1.0	1.0	750	$988	$1.32	2d	5	0.35mi
6805 Sebree Dr Florence, KY	1.0–3.0	1.0–1.5	901	$1,090	$1.21	2d	14	0.51mi
129 Dove Dr Elsmere, KY	2.0	1.0	784	$1,070	$1.36	20d	1	0.70mi
159 Green River Dr Erlanger, KY	2.0	2.0	1278	$1,595	$1.25	2d	1	0.73mi
101 Pinehurst Dr Florence, KY	1.0–2.0	1.0	815	$1,199	$1.47	24d	6	1.03mi
7650 Ewing Blvd Florence, KY	1.0–2.0	1.0–2.0	915	$1,329	$1.45	4d	6	1.30mi
3904 Lori Dr Erlanger, KY	1.0–2.0	1.0–1.5	722	$1,000	$1.38	2d	12	1.30mi
7536 Hillcrest Dr Florence, KY	1.0–3.0	1.0–2.0	933	$1,149	$1.23	2d	17	1.36mi

Listing history 6 events

1. 2026-06-18
   days on market $63,700 Active 8 DOM
2. 2026-06-17
   days on market $63,700 Active 7 DOM
3. 2026-06-16
   days on market $63,700 Active 6 DOM
4. 2026-06-15
   days on market $63,700 Active 5 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $63,700 Active 3 DOM

ⓘ 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: $1,032 · $86/mo
• Projected year-2 tax: $1,032 · $86/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 4/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,939
• − Mortgage interest: −$3,568
• − Property taxes: −$1,032
• − Insurance: −$318
• − Repairs & maintenance: −$1,195
• − Management: −$1,195
• − Depreciation: −$1,853
• Taxable income: $5,777
• Est. tax owed @ 24.0%: −$1,386
• After-tax cash flow: $5,056/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: Boone County
• NCES district ID: 2100510
• Math proficiency: 43% ▼ -10.00%
• Reading proficiency: 49% ▼ -12.00%
• Median HH income: $68,096
• Composite: 41.18/100
• National rank: #3550
• State rank: #12 of 165 in KY

Livability — Florence

• Score: 78/100
• State rank: #82
• US rank: #2763

Category grades

Amenities B+ Commute A+ Cost of living A+ Crime C- Employment B- Housing A+ Health & safety C User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, KY
• County: Boone County · 99,563 people
• City population: 57,634
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 57,634
• Household income: $79,712
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 1397.0

Population outlook (Boone County) Hauer SSP2

• Today (2025): 144,066 people
• By 2030: 152,005 · +5.5%
• By 2040: 166,776 · +15.8%
• By 2050: 178,974 · +24.2%
• By 2075: 204,515 · +42.0%
• By 2100: 215,306 · +49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 8% Black 7% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 3% Slovak 2% Iranian 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 5% French/Haitian/Cajun 2% Other Indo-European 2%

Political lean MEDSL · Boone

• 2024 margin: Solid R (+37.2) · D 30.6% · R 67.8% · Other 1.7%
• 2008→2024 swing: -2.7pp toward R · 2008: -34.5pp · 2024: -37.2pp
• All cycles: 2024: R+37.2 2020: R+35.7 2016: R+41.8 2012: R+38.7 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -195.07%
• Current HPI: 206.3259
• Rent YoY: ▲ 3.42%
• 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

+430.8% since first listed

4 events — show timeline

• 2026-06-10 Listed $63,700 NKMLS
• 2016-03-28 Sold (MLS) $36,400 NKMLS
• 2015-08-22 Listed $36,400 NKMLS
• 2001-10-19 Sold (Public Records) $12,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,032 · +1.9% YoY. Source: county tax records.