328 Sunset Ave · Erlanger, KY 41018

$110,000

3 bd · 1.5 ba · 1,362 sqft · SingleFamily public records · 1 Days on market

Built 1959 7,935 sqft 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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Super cute 4 bed cape cod w/ 3 finished levels, 1-car garage & spacious yard! Nice kitchen w/ granite counters & SS appliances. Hardwood floors, updated bathroom, family room addition on the back of the house w/ brand new carpet. Finished rec room in the basement and plenty of room for storage. Well maintained property!

Key facts

• 7,935 sq ft lot
• Garage

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $454 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 11.2% vs local median 3.8% in Erlanger — 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 (#126 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Erlanger-Elsmere Independent (suburban): math 21% / reading 32% proficiency, ranked #128 of 165 in KY (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Miles Elementary School (math 27% / reading 22%, grade F, #489 of 676 statewide, top 76%, 230 students, 50% FRL); Tichenor Middle School (math 19% / reading 38%, grade F, #161 of 217 statewide, top 75%, 539 students, 54% FRL); Lloyd High School (math 22% / reading 32%, grade F, #158 of 254 statewide, top 68%, 697 students, 57% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 124 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $761 of loan paydown is wiped out by about $3k 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 + 4.2% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y 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 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1959 — 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 F-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: 1.48% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.69%
• DSCR: 1.79
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $260,142
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
328 Sunset Ave	0.00mi	3/1.5	1,362 (0%)	0mo	$147,000	$108	100
4112 Lloyd Ave	0.23mi	3/1.5	1,315 (-4%)	2mo	$270,000	$205	82
101 Lexington Ave	0.57mi	3/2.0	1,368 (+0%)	4mo	$220,000	$161	67
3917 Rankin Dr	0.33mi	3/2.0	1,242 (-9%)	6mo	$237,000	$191	63
41 Linwood Ave	0.23mi	3/1.5	1,188 (-13%)	6mo	$272,000	$229	63
20 Drexel Ave	0.50mi	4/2.0 (+1)	1,428 (+5%)	2mo	$250,000	$175	59
404 Mcalpin Ave	0.33mi	3/1.0	1,176 (-14%)	3mo	$242,500	$206	57
411 Swan Cir	0.72mi	4/2.5 (+1)	1,368 (+0%)	1mo	$262,500	$192	56
409 Lytle Ave	0.59mi	3/2.0	1,225 (-10%)	1mo	$199,500	$163	53
9 Park Ave	0.58mi	4/2.0 (+1)	1,263 (-7%)	2mo	$257,500	$204	52
403 Locust St	0.74mi	4/1.5 (+1)	1,286 (-6%)	6mo	$225,000	$175	46
712 Bedinger St	0.61mi	2/1.0 (-1)	1,197 (-12%)	2mo	$227,000	$190	43

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 · 4.22% rent growth · sell at horizon

5-year hold

• IRR: 10.6%
• Equity multiple: 1.43×
• Total profit: $13,174
• Equity at exit: $16,401

10-year hold

• IRR: 20.8%
• Equity multiple: 2.87×
• Total profit: $57,462
• Equity at exit: $9,511

Cash invested: $30,800 (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 41018

• Rents YoY: 4.2%
• Active inventory: 124
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,624 high
• Mortgage (P&I): −$577
• Tax from tax record: −$206 /mo · $2,474/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $454

Break-even live

Break-even rent $1,049

Max offer price $110,000

Occupancy floor 67%

Sensitivity live

Price	-10% $516	-5% $485	+0% $454	+5% $423	+10% $392
Rent	-10% $326	-5% $390	+0% $454	+5% $518	+10% $582
Rate	-1.0pp $509	-0.5pp $482	base $454	+0.5pp $425	+1.0pp $396

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
159 Green River Dr Erlanger, KY	2.0	2.0	1278	$1,595	$1.25	3d	1	0.19mi
3904 Lori Dr Erlanger, KY	1.0–2.0	1.0–1.5	722	$1,335	$1.85	3d	12	0.41mi
121 Carlisle St Elsmere, KY	3.0	2.0	1650	$2,000	$1.21	16d	1	0.48mi
7222 Isaac Ln Florence, KY	3.0	2.0	1400	$1,795	$1.28	17d	1	0.53mi
6805 Sebree Dr Florence, KY	1.0–3.0	1.0–1.5	901	$1,718	$1.91	3d	14	0.87mi
868 Virginiabradford Ct Elsmere, KY	3.0	2.5	974	$3,500	$3.59	3d	1	0.98mi
4787 Houston Rd Florence, KY	1.0–3.0	1.0–2.0	1025	$2,316	$2.26	3d	25	0.98mi
580 Erlanger Rd Unit 580-5 Erlanger, KY	2.0	1.5	883	$1,475	$1.67	45d	1	1.00mi
3235 N Talbot Ave Unit 3235-2 Erlanger, KY	3.0	1.5	1032	$1,675	$1.62	17d	1	1.00mi
3231 N Talbot Ave Unit 3231-5 Erlanger, KY	2.0	1.5	883	$1,475	$1.67	24d	1	1.04mi
3234 N Talbot Ave Unit 3234-5 Erlanger, KY	2.0	1.5	883	$1,475	$1.67	16d	1	1.05mi
9 Eagle Dr Elsmere, KY	3.0	2.0	960	$1,328	$1.38	24d	1	1.10mi
3223 N Talbot Ave Unit 3223-7 Erlanger, KY	2.0	1.5	883	$1,475	$1.67	22d	1	1.12mi
43 Banklick St Florence, KY	2.0	2.0	1265	$1,355	$1.07	4d	3	1.12mi
109 Dove Dr Elsmere, KY	3.0	2.0	960	$1,328	$1.38	3d	1	1.15mi
3219 N Talbot Ave Unit 3219-4 Erlanger, KY	2.0	1.5	883	$1,475	$1.67	45d	1	1.16mi
64 Eagle Dr Elsmere, KY	3.0	2.0	960	$1,328	$1.38	8d	1	1.24mi
104 Dove Dr Elsmere, KY	3.0	2.0	924	$1,295	$1.40	16d	1	1.26mi
682 Mimosa Ct Erlanger, KY	3.0	2.0	1600	$2,136	$1.33	8d	1	1.37mi

Listing history 8 events

1. 2026-01-20
   status Pending
2. 2026-01-19
   listed $110,000 Active
3. 2021-09-24
   soldstatus $186,000 Closed 329-char remark

   Show marketing remark (329 chars)

   Super cute 4 bed cape cod w/ 3 finished levels, 1-car garage & spacious yard! Nice kitchen w/ granite counters & SS appliances. Hardwood floors, updated bathroom, family room addition on the back of the house w/ brand new carpet. Finished rec room in the basement and plenty of room for storage. Well maintained property!

4. 2021-08-14
   status Pending 329-char remark

   Show marketing remark (329 chars)

   Super cute 4 bed cape cod w/ 3 finished levels, 1-car garage & spacious yard! Nice kitchen w/ granite counters & SS appliances. Hardwood floors, updated bathroom, family room addition on the back of the house w/ brand new carpet. Finished rec room in the basement and plenty of room for storage. Well maintained property!

5. 2021-08-07
   historical
6. 2021-08-06
   listed $184,900 Active 329-char remark

   Show marketing remark (329 chars)

   Super cute 4 bed cape cod w/ 3 finished levels, 1-car garage & spacious yard! Nice kitchen w/ granite counters & SS appliances. Hardwood floors, updated bathroom, family room addition on the back of the house w/ brand new carpet. Finished rec room in the basement and plenty of room for storage. Well maintained property!

7. 2021-07-22
   listed $194,900 Active
8. 2015-03-02
   soldstatus $75,000

ⓘ 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: $2,474 · $206/mo
• Projected year-2 tax: $2,474 · $206/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 · 19 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: $19,486
• − Mortgage interest: −$6,162
• − Property taxes: −$2,474
• − Insurance: −$550
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − Depreciation: −$3,200
• Taxable income: $3,983
• Est. tax owed @ 24.0%: −$956
• After-tax cash flow: $4,492/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: Erlanger-Elsmere Independent
• NCES district ID: 2101740
• Math proficiency: 21% ▼ -10.00%
• Reading proficiency: 32% ▼ -11.00%
• Median HH income: $47,377
• Composite: 23.01/100
• National rank: #7975
• State rank: #128 of 165 in KY

Livability — Erlanger

• Score: 72/100
• State rank: #126
• US rank: #5933

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Erlanger, KY
• County: Kenton County · 142,881 people
• City population: 28,940
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 28,940
• Household income: $68,605
• Rent vs Own: 31.9% rent · 68.1% own
• Severe rent burden: 678.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Hispanic / Latino 5% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -211.57%
• Current HPI: 215.9599
• Rent YoY: ▲ 4.22%
• 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

+46.7% since first listed

8 events — show timeline

• 2026-01-20 Pending — NKMLS
• 2026-01-19 Listed $110,000 NKMLS
• 2021-09-24 Sold (MLS) $186,000 NKMLS
• 2021-08-14 Pending — NKMLS
• 2021-08-07 Listing Removed — NKMLS
• 2021-08-06 Listed $184,900 NKMLS
• 2021-07-22 Listed $194,900 NKMLS
• 2015-03-02 Sold (Public Records) $75,000 Public Records

Property tax history

+10.5%/yr

Latest (2025): $2,474 · -1.2% YoY. Source: county tax records.