10381 Chambersburg Dr · Independence, KY 41051

$290,000

3 bd · 2.5 ba · 1,117 sqft · SingleFamily public records · 1 Days on market

Built 2007 0.29 ac lot Est $278k · at est.

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Why this score? — see what drove the D- 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 +12.5/30.0
• ARV discount +5.6/15.0
• Schools +4.0/10.0
• Rent growth +3.8/5.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully updated bi-level home that seamlessly combines modern amenities with classic charm. Experience the airy and open feel as you step into the main living area. The open concept design creates a fluid transition from the living room to the dining area, making it perfect for entertaining. The heart of the home boasts a gourmet kitchen with sleek countertops, stainless steel appliances, and ample storage. Cooking enthusiasts will appreciate the functionality and elegance of this culinary space. Indulge in the spa-like atmosphere of the updated bathrooms. Elegant fixtures, modern vanities, and stylish tile work create a luxurious retreat for relaxation. The lower level offers additional living space, perfect for a family room or home office. The flexibility of this space allows you to tailor it to your specific needs. Make this your home to start the New Year!

Key facts

• Renovated bathrooms
• Updated kitchen
• Finished lower level

Tags

• OPEN-CONCEPT MAIN LIVING AREA
• UPDATED KITCHEN
• RENOVATED BATHROOMS
• FINISHED LOWER LEVEL

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-44 ($-525/yr) — negative.
• To cash-flow at today's rent, offer at most $282k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (18.6% below list).
• Recommended offer: $236k (18.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.7% in Independence — 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 72/100 on livability (#130 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Kenton County (suburban): math 42% / reading 48% proficiency, ranked #14 of 165 in KY (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kenton Elementary School (math 59% / reading 52%, grade C, #60 of 676 statewide, top 9%, 627 students, 42% FRL); Woodland Middle School (math 38% / reading 50%, grade D, #40 of 217 statewide, top 19%, 616 students, 48% FRL); Simon Kenton High School (math 40% / reading 44%, grade F, #32 of 254 statewide, top 13%, 1,859 students, 37% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 258 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $9k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 20y 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.

Recommended offer $236,067 (18.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.81% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $278,133
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10381 Chambersburg Dr	0.00mi	3/2.5	1,117 (0%)	1mo	$290,000	$260	99
10377 Chambersburg Dr	0.02mi	3/3.0	1,124 (+1%)	15mo	$280,000	$249	84
10409 Sharpsburg Dr	0.31mi	3/2.5	1,098 (-2%)	1mo	$301,000	$274	82
10410 Sharpsburg Dr	0.33mi	3/2.5	1,130 (+1%)	14mo	$200,000	$177	71
1341 Shenandoah Ct	0.23mi	4/3.0 (+1)	1,176 (+5%)	3mo	$300,000	$255	71
1197 Catletts Ct	0.47mi	3/2.0	1,090 (-2%)	2mo	$289,900	$266	70
5190 Christopher Dr	0.60mi	3/1.5	1,120 (+0%)	1mo	$255,000	$228	67
10389 Sharpsburg Dr	0.34mi	3/2.5	1,160 (+4%)	14mo	$200,000	$172	66
10343 Trent Ct	0.50mi	3/2.5	1,099 (-2%)	14mo	$200,000	$182	63
164 Friar Tuck Dr	0.67mi	3/2.0	1,098 (-2%)	10mo	$235,000	$214	56
10340 Calvary Rd	0.72mi	3/2.0	1,264 (+13%)	8mo	$295,000	$233	36
70 Carrie Way	0.71mi	3/1.5	1,000 (-10%)	13mo	$286,000	$286	35

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.46×
• Total profit: $-44,038
• Equity at exit: $43,240

10-year hold

• IRR: -2.9%
• Equity multiple: 0.79×
• Total profit: $-17,204
• Equity at exit: $25,074

Cash invested: $81,200 (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 41051

• Home prices YoY: -32.6%
• Rents YoY: 5.4%
• Active inventory: 258
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,361 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$267 /mo · $3,204/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $-44

Break-even live

Break-even rent $2,416

Max offer price $282,277

Occupancy floor 97%

Sensitivity live

Price	-10% $120	-5% $38	+0% $-44	+5% $-126	+10% $-208
Rent	-10% $-230	-5% $-137	+0% $-44	+5% $50	+10% $143
Rate	-1.0pp $102	-0.5pp $30	base $-44	+0.5pp $-119	+1.0pp $-195

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10702 Brent Ridge Cir Independence, KY	2.0–3.0	2.0–3.0	1520	$2,775	$1.83	3d	4	1.37mi
1800 Brentwood Ln Independence, KY	1.0–2.0	1.0–2.0	845	$1,309	$1.55	3d	3	1.44mi

Listing history 10 events

1. 2026-04-18
   status Pending
2. 2026-04-17
   listed $290,000 Active
3. 2024-01-23
   soldstatus $275,000
4. 2024-01-19
   soldstatus $275,000 Sold 901-char remark

   Show marketing remark (901 chars)

   Welcome to this beautifully updated bi-level home that seamlessly combines modern amenities with classic charm. Experience the airy and open feel as you step into the main living area. The open concept design creates a fluid transition from the living room to the dining area, making it perfect for entertaining. The heart of the home boasts a gourmet kitchen with sleek countertops, stainless steel appliances, and ample storage. Cooking enthusiasts will appreciate the functionality and elegance of this culinary space. Indulge in the spa-like atmosphere of the updated bathrooms. Elegant fixtures, modern vanities, and stylish tile work create a luxurious retreat for relaxation. The lower level offers additional living space, perfect for a family room or home office. The flexibility of this space allows you to tailor it to your specific needs. Make this your home to start the New Year!

5. 2023-12-14
   status Pending 901-char remark

   Show marketing remark (901 chars)

   Welcome to this beautifully updated bi-level home that seamlessly combines modern amenities with classic charm. Experience the airy and open feel as you step into the main living area. The open concept design creates a fluid transition from the living room to the dining area, making it perfect for entertaining. The heart of the home boasts a gourmet kitchen with sleek countertops, stainless steel appliances, and ample storage. Cooking enthusiasts will appreciate the functionality and elegance of this culinary space. Indulge in the spa-like atmosphere of the updated bathrooms. Elegant fixtures, modern vanities, and stylish tile work create a luxurious retreat for relaxation. The lower level offers additional living space, perfect for a family room or home office. The flexibility of this space allows you to tailor it to your specific needs. Make this your home to start the New Year!

6. 2023-12-08
   listed $280,000 Active 901-char remark

   Show marketing remark (901 chars)

   Welcome to this beautifully updated bi-level home that seamlessly combines modern amenities with classic charm. Experience the airy and open feel as you step into the main living area. The open concept design creates a fluid transition from the living room to the dining area, making it perfect for entertaining. The heart of the home boasts a gourmet kitchen with sleek countertops, stainless steel appliances, and ample storage. Cooking enthusiasts will appreciate the functionality and elegance of this culinary space. Indulge in the spa-like atmosphere of the updated bathrooms. Elegant fixtures, modern vanities, and stylish tile work create a luxurious retreat for relaxation. The lower level offers additional living space, perfect for a family room or home office. The flexibility of this space allows you to tailor it to your specific needs. Make this your home to start the New Year!

7. 2017-01-21
   soldstatus $126,900 209-char remark

   Show marketing remark (209 chars)

   Easy living. Walkout from dining area to deck and lower level walkout add to every day ease. Bring your ideas and make this home. Call today for your private tour. Buyer to verify all aspects of this property.

8. 2016-08-04
   listed $126,900 209-char remark

   Show marketing remark (209 chars)

   Easy living. Walkout from dining area to deck and lower level walkout add to every day ease. Bring your ideas and make this home. Call today for your private tour. Buyer to verify all aspects of this property.

9. 2007-05-29
   soldstatus $154,900
10. 2006-11-15
    listed $155,900

ⓘ 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: $3,204 · $267/mo
• Projected year-2 tax: $3,204 · $267/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 ≥102°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,328
• − Mortgage interest: −$16,245
• − Property taxes: −$3,204
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,266
• − Management: −$2,266
• − Depreciation: −$8,436
• Taxable loss: −$5,540
• Est. tax savings @ 24.0%: +$1,329
• After-tax cash flow: $805/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: Kenton County
• NCES district ID: 2103090
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 48% ▼ -14.00%
• Median HH income: $66,183
• Composite: 40.17/100
• National rank: #3789
• State rank: #14 of 165 in KY

Livability — Independence

• Score: 72/100
• State rank: #130
• US rank: #6165

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, KY
• County: Kenton County · 142,881 people
• City population: 33,054
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 33,054
• Household income: $104,201
• Rent vs Own: 12.5% rent · 87.5% own
• Severe rent burden: 243.0

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Black 1% Asian 1%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 96% English-only · Spanish 1% Chinese 1% Other Asian/Pacific 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: ▼ -105.60%
• Current HPI: 218.492
• Rent YoY: ▲ 5.37%
• 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

+86.0% since first listed

10 events — show timeline

• 2026-04-18 Pending — NKMLS
• 2026-04-17 Listed $290,000 NKMLS
• 2024-01-23 Sold (Public Records) $275,000 Public Records
• 2024-01-19 Sold (MLS) $275,000 NKMLS
• 2023-12-14 Pending — NKMLS
• 2023-12-08 Listed $280,000 NKMLS
• 2017-01-21 Sold (MLS) $126,900 NKMLS
• 2016-08-04 Listed $126,900 NKMLS
• 2007-05-29 Sold (MLS) $154,900 NKMLS
• 2006-11-15 Listed $155,900 NKMLS

Property tax history

+4.6%/yr

Latest (2025): $3,204 · +68.4% YoY. Source: county tax records.