1722 Banklick St · Covington, KY 41011

$179,000

2 bd · 1.0 ba · 882 sqft · SingleFamily public records · 70 Days on market

2,639 sqft lot Est $126k · 42% over

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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 +16.5/30.0
• DSCR +5.1/10.0
• Livability +4.3/5.0
• 1% rule +3.3/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Possible 3rd bedroom, Needs repair. Sizes are approx.

Key facts

• Laundry room
• New hvac
• One-level living

Tags

• ONE-LEVEL LIVING
• OFF-STREET PARKING
• COZY FRONT PORCH
• LAUNDRY ROOM
• NEW HVAC
• NEWER WINDOWS

Property features AI

Exterior

• Parking: Driveway; Off-street parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Existing structure
• Construction: Stone foundation
• Exterior features: Covered porch; Porch; Vinyl window frames; Shingle roof; Paved road frontage on a city street

Interior

• Kitchen: Stainless steel appliances; Electric cooktop; Electric oven; Dishwasher; Microwave; Refrigerator; Eat-in kitchen
• Bedrooms: Primary bedroom (15 x 13); Bedroom 2 (13 x 13)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Laminate counters; High-speed internet; Eat-in kitchen; Recessed lighting; Full basement
• Laundry & utility: Electric dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $37 ($444/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 $149k (16.8% below list).
• Recommended offer: $149k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: Glenn O Swing Elementary (math 29% / reading 50%, grade F, #208 of 676 statewide, top 34%, 407 students, 78% 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 81% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 214 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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 70 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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 $12k; list at $179k implies a 1392% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,948 (16.8% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
6. 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.
7. 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.
8. 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: 0.83% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.48%
• DSCR: 1.11
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $126,126
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1624 Woodburn Ave	0.13mi	2/1.0	840 (-5%)	0mo	$105,000	$125	86
317 E 18th St	0.52mi	2/1.0	900 (+2%)	1mo	$140,000	$156	72
1814 Eastern Ave	0.65mi	2/1.5	884 (+0%)	2mo	$125,000	$141	66
1506 St Clair St	0.31mi	1/1.0 (-1)	816 (-8%)	5mo	$117,000	$143	64
516 E 19th St E	0.68mi	2/1.5	869 (-2%)	5mo	$215,000	$247	59
1310 Russell St	0.45mi	2/1.0	765 (-13%)	0mo	$179,000	$234	57
326 E 17th St	0.54mi	2/1.0	992 (+12%)	3mo	$95,000	$96	52
2414 Herman St	0.56mi	2/1.0	976 (+11%)	5mo	$85,000	$87	52
1502 Morton Ave	0.37mi	1/1.0 (-1)	753 (-15%)	2mo	$153,400	$204	52
19 W 15th St	0.34mi	2/2.0	1,013 (+15%)	5mo	$199,000	$196	51
509 E 20th St	0.68mi	2/1.0	984 (+12%)	3mo	$139,150	$141	47
629 W 11th St	0.74mi	2/1.0	768 (-13%)	2mo	$99,200	$129	42

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 · 1.55% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-28,828
• Equity at exit: $26,689

10-year hold

• IRR: -10.8%
• Equity multiple: 0.39×
• Total profit: $-30,757
• Equity at exit: $15,477

Cash invested: $50,120 (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 41011

• Rents YoY: 1.6%
• Active inventory: 214
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,489 high
• Mortgage (P&I): −$939
• Tax from tax record: −$60 /mo · $719/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $37

Break-even live

Break-even rent $1,443

Max offer price $179,000

Occupancy floor 93%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Lee St Unit 1 Covington, KY	1.0	1.0	675	$1,350	$2.00	23d	1	0.56mi
1205 Lee St Unit 2 Covington, KY	1.0	1.0	800	$1,500	$1.88	23d	1	0.56mi
1914 Eastern Ave Apt 3 Covington, KY	1.0	1.0	900	$995	$1.11	14d	1	0.67mi
1914 Eastern Ave Apt 1 Covington, KY	2.0	1.0	750	$1,200	$1.60	23d	1	0.67mi
512 Wallace Ave Unit 512/08 Covington, KY	1.0	1.0	550	$899	$1.63	17d	1	0.74mi
512 Wallace Ave Unit 512/16 Covington, KY	1.0	1.0	550	$939	$1.71	7d	1	0.74mi
512 Wallace Ave Unit 512/18 Covington, KY	2.0	2.0	900	$1,299	$1.44	7d	1	0.74mi
512 Wallace Ave Unit 512/09 Covington, KY	1.0	1.0	550	$899	$1.63	7d	1	0.74mi
344 E 13th St Unit 1 Covington, KY	2.0	1.0	1000	$1,275	$1.27	23d	1	0.78mi
1025 Scott St Unit 2 Covington, KY	2.0	2.0	1100	$1,800	$1.64	3d	1	0.79mi
1431 Dixie Hwy Park Hills, KY	1.0–2.0	1.0–2.0	920	$2,553	$2.77	1d	10	0.86mi
918 Highland Ave Fort Wright, KY	1.0	1.0	525	$995	$1.90	21d	1	0.89mi
920 Highland Ave Fort Wright, KY	1.0	1.0	525	$1,045	$1.99	14d	1	0.90mi
1215 Elberta Cir Park Hills, KY	2.0	1.0	825	$1,050	$1.27	3d	1	0.99mi
1002 Parkvale Ct Unit 1004 1 Park Hills, KY	2.0	1.0	850	$995	$1.17	43d	1	1.02mi
1002 Parkvale Ct Unit 1002 3 Park Hills, KY	1.0	1.0	750	$925	$1.23	7d	1	1.02mi
1000 Parkvale Ct Park Hills, KY	2.0	1.0	850	$1,495	$1.76	43d	1	1.02mi
634 Greenup St Covington, KY	1.0	1.5	1050	$1,595	$1.52	7d	1	1.08mi
2220 Cityscape Dr Covington, KY	1.0–2.0	1.0–2.0	932	$1,985	$2.13	1d	9	1.12mi
218 W 5th St Covington, KY	1.0	1.0	800	$1,595	$1.99	14d	1	1.16mi
515 Main St Covington, KY	1.0–2.0	1.0–2.0	934	$2,215	$2.37	1d	8	1.17mi
521 Garrard St Apt 6 Covington, KY	1.0	1.0	775	$1,995	$2.57	16d	1	1.18mi
521 Garrard St Apt 1 Covington, KY	1.0	1.5	825	$1,895	$2.30	17d	1	1.18mi
521 Garrard St Apt 3 Covington, KY	1.0	1.0	875	$1,996	$2.28	14d	1	1.18mi
521 Garrard St Apt 4 Covington, KY	1.0	1.0	725	$1,695	$2.34	17d	1	1.18mi
521 Garrard St Apt 2 Covington, KY	1.0	1.0	725	$1,595	$2.20	17d	1	1.18mi
119 W 33rd St Unit 1 Latonia, KY	1.0	1.0	900	$1,075	$1.19	23d	1	1.33mi
303 Greenup St Covington, KY	1.0	1.0	678	$1,445	$2.13	23d	1	1.36mi
50 W Rivercenter Blvd Covington, KY	1.0–2.0	1.0–2.5	1273	$3,640	$2.86	1d	9	1.44mi
1114 Columbia St Unit 2 Newport, KY	1.0	1.0	925	$1,550	$1.68	43d	1	1.49mi
128 W 9th St Newport, KY	2.0	1.0	1012	$1,650	$1.63	2d	1	1.50mi

Listing history 28 events

1. 2026-06-18
   days on market $179,000 Active 70 DOM
2. 2026-06-17
   days on market $179,000 Active 69 DOM
3. 2026-06-16
   days on market $179,000 Active 68 DOM
4. 2026-06-15
   days on market $179,000 Active 67 DOM
5. 2026-06-09
   days on market $179,000 Active 61 DOM
6. 2026-06-08
   days on market $179,000 Active 60 DOM
7. 2026-06-07
   days on market $179,000 Active 59 DOM
8. 2026-06-03
   days on market $179,000 Active 55 DOM
9. 2026-06-02
   days on market $179,000 Active 54 DOM
10. 2026-06-01
    days on market $179,000 Active 53 DOM
11. 2026-05-31
    days on market $179,000 Active 52 DOM
12. 2026-04-09
    listed $179,000 Active
13. 2010-02-04
    soldstatus $12,000 53-char remark

    Show marketing remark (53 chars)

    Possible 3rd bedroom, Needs repair. Sizes are approx.

14. 2009-12-31
    historical
15. 2009-12-15
    listed $14,900 53-char remark

    Show marketing remark (53 chars)

    Possible 3rd bedroom, Needs repair. Sizes are approx.

16. 2009-02-26
    listed $29,900
17. 2005-08-08
    historical
18. 2004-10-15
    listed $45,000
19. 2004-08-26
    historical
20. 2004-03-10
    listed $57,900
21. 2003-11-22
    historical
22. 2003-05-22
    listed $54,900
23. 2003-03-13
    historical
24. 2002-09-13
    listed $49,900
25. 1998-03-12
    soldstatus $33,500
26. 1990-06-15
    soldstatus $23,000
27. 1987-01-29
    soldstatus $21,900
28. 1986-06-20
    soldstatus $19,000

ⓘ 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: $719 · $60/mo
• Projected year-2 tax: $1,539 · $128/mo
• Expected delta: +$820/yr (+$68/mo · 114.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 96% 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: $17,874
• − Mortgage interest: −$10,027
• − Property taxes: −$719
• − Insurance: −$1,692
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − Depreciation: −$5,207
• Taxable loss: −$2,632
• Est. tax savings @ 24.0%: +$632
• After-tax cash flow: $1,076/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): 26,981
• Household income: $69,970
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 1488.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 12% Black 10% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 90% English-only · Spanish 6% Other Indo-European 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: ▼ -215.20%
• Current HPI: 237.0869
• Rent YoY: ▲ 1.55%
• 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

+842.1% since first listed

17 events — show timeline

• 2026-04-09 Listed $179,000 NKMLS
• 2010-02-04 Sold (MLS) $12,000 NKMLS
• 2009-12-31 Listing Removed — NKMLS
• 2009-12-15 Listed $14,900 NKMLS
• 2009-02-26 Listed $29,900 NKMLS
• 2005-08-08 Listing Removed — NKMLS
• 2004-10-15 Listed $45,000 NKMLS
• 2004-08-26 Listing Removed — NKMLS
• 2004-03-10 Listed $57,900 NKMLS
• 2003-11-22 Listing Removed — NKMLS
• 2003-05-22 Listed $54,900 NKMLS
• 2003-03-13 Listing Removed — NKMLS
• 2002-09-13 Listed $49,900 NKMLS
• 1998-03-12 Sold (Public Records) $33,500 Public Records
• 1990-06-15 Sold (Public Records) $23,000 Public Records
• 1987-01-29 Sold (Public Records) $21,900 Public Records
• 1986-06-20 Sold (Public Records) $19,000 Public Records

Property tax history

+10.2%/yr

Latest (2025): $719 · +0.7% YoY. Source: county tax records.