127 E 42nd St · Covington, KY 41015

$135,000

3 bd · 1.0 ba · 1,062 sqft · SingleFamily public records · 25 Days on market

Built 1908 4,200 sqft lot Est $193k · 30% under

---

Why this score? — see what drove the C+ 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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy two story with 3 large bedrooms and 1 full bath. Enjoy off street parking w/ detached 1 car garage, carport, and driveway. The bathroom was recently updated with a new vanity and sink and has tile floor and shower/tub combo. The eat-in kitchen contains stainless steel appliances with access to the backyard. New HVAC 2023 and Hot Water Heater in 2020. Additional storage attached to garage. Great home for first time home buyers or rental for an investor portfolio.

Key facts

• Private driveway
• Eat-in kitchen
• Workshop

Tags

• EAT-IN KITCHEN
• FENCED-IN YARD
• OFF-STREET PARKING
• PRIVATE DRIVEWAY
• DETACHED GARAGE
• WORKSHOP

Property features AI

Exterior

• Parking: Detached parking; Driveway and off-street parking; 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family house; Two levels; Built in 1908
• Construction: Aluminum siding; Stone foundation; Shingle roof
• Exterior features: Chain link fencing; Vinyl window frames; Paved road access

Interior

• Kitchen: Kitchen (13 x 10)
• Bedrooms: Primary bedroom (15 x 13); Bedroom 2 (15 x 13); Bedroom 3 (12 x 12)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Full basement; Laundry located on the lower level
• Laundry & utility: Lower-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: Latonia Elementary School (math 12% / reading 32%, grade F, #525 of 676 statewide, top 82%, 285 students, 87% 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).
• Market conditions: 161 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 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 $933 of loan paydown is wiped out by about $4k 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 25 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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 1908 — 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 $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1908 — 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. 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.
4. 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.
5. 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: 1.10% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.41%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $193,284
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
127 E 42nd St	0.00mi	3/1.0	1,062 (0%)	0mo	$127,100	$120	100
117 E 42nd St	0.03mi	2/1.0 (-1)	1,012 (-5%)	1mo	$215,000	$212	85
3920 Church St	0.17mi	2/1.0 (-1)	1,123 (+6%)	2mo	$232,000	$207	76
4507 Clifton Ave	0.38mi	2/1.5 (-1)	1,056 (-1%)	2mo	$171,000	$162	72
4512 Church St	0.22mi	3/1.5	1,163 (+10%)	0mo	$232,000	$199	71
4347 Vermont Ave	0.35mi	2/2.0 (-1)	1,108 (+4%)	0mo	$105,000	$95	67
244 E 46th St	0.48mi	3/2.0	1,120 (+6%)	0mo	$165,000	$147	64
3507 Carlisle Ave	0.72mi	2/1.0 (-1)	1,056 (-1%)	1mo	$119,000	$113	59
3173 Clifford Ave	0.70mi	3/1.0	1,105 (+4%)	1mo	$212,000	$192	59
4808 Kollman Rd	0.66mi	3/1.0	1,140 (+7%)	2mo	$168,000	$147	55
3704 Huntington Ave	0.43mi	3/2.0	1,212 (+14%)	0mo	$220,000	$182	52
504 Earle Ave	0.43mi	2/1.5 (-1)	928 (-13%)	1mo	$194,999	$210	51

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.82×
• Total profit: $-6,987
• Equity at exit: $20,129

10-year hold

• IRR: 4.7%
• Equity multiple: 1.35×
• Total profit: $13,168
• Equity at exit: $11,672

Cash invested: $37,800 (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 41015

• Active inventory: 161
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,489 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$179 /mo · $2,148/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $233

Break-even live

Break-even rent $1,194

Max offer price $135,000

Occupancy floor 79%

Sensitivity live

Price	-10% $310	-5% $272	+0% $233	+5% $195	+10% $157
Rent	-10% $116	-5% $174	+0% $233	+5% $292	+10% $351
Rate	-1.0pp $301	-0.5pp $268	base $233	+0.5pp $198	+1.0pp $163

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3918 Glenn Ave Unit 1 Covington, KY	2.0	1.0	1350	$1,449	$1.07	21d	1	0.34mi
400 Lakeview Dr #5 Wilder, KY	2.0	2.0	1100	$1,495	$1.36	4d	1	1.28mi
120 Vista Point Dr Wilder, KY	1.0–2.0	1.0–2.0	854	$1,184	$1.39	3d	2	1.34mi
2307 Center St Covington, KY	3.0	1.5	1216	$1,950	$1.60	8d	1	1.48mi

Listing history 16 events

1. 2026-05-20
   status Pending
2. 2026-04-25
   listed $135,000 Active
3. 2023-10-30
   soldstatus $160,000
4. 2023-10-20
   soldstatus $160,000 Sold 472-char remark

   Show marketing remark (472 chars)

   Cozy two story with 3 large bedrooms and 1 full bath. Enjoy off street parking w/ detached 1 car garage, carport, and driveway. The bathroom was recently updated with a new vanity and sink and has tile floor and shower/tub combo. The eat-in kitchen contains stainless steel appliances with access to the backyard. New HVAC 2023 and Hot Water Heater in 2020. Additional storage attached to garage. Great home for first time home buyers or rental for an investor portfolio.

5. 2023-09-07
   status Pending 472-char remark

   Show marketing remark (472 chars)

   Cozy two story with 3 large bedrooms and 1 full bath. Enjoy off street parking w/ detached 1 car garage, carport, and driveway. The bathroom was recently updated with a new vanity and sink and has tile floor and shower/tub combo. The eat-in kitchen contains stainless steel appliances with access to the backyard. New HVAC 2023 and Hot Water Heater in 2020. Additional storage attached to garage. Great home for first time home buyers or rental for an investor portfolio.

6. 2023-09-05
   listed $149,000 Active 472-char remark

   Show marketing remark (472 chars)

   Cozy two story with 3 large bedrooms and 1 full bath. Enjoy off street parking w/ detached 1 car garage, carport, and driveway. The bathroom was recently updated with a new vanity and sink and has tile floor and shower/tub combo. The eat-in kitchen contains stainless steel appliances with access to the backyard. New HVAC 2023 and Hot Water Heater in 2020. Additional storage attached to garage. Great home for first time home buyers or rental for an investor portfolio.

7. 2013-03-11
   soldstatus $61,000
8. 2013-03-07
   soldstatus $61,000 399-char remark

   Show marketing remark (399 chars)

   3 Bedroom with-Off Street parking*One car covered car port with nice enclosed work area* Long driveway*Flat back yard* Brand new carpet thru out* First floor bedroom with fireplace*Ceramic tile in Kitchen and bath*Bath is brand new* Home is freshly painted with new doors and trim*New hot water heater*Brand new lighting thru out* Very large Bedrooms* A rare find at this price* Immediate Occupancy!

9. 2012-11-05
   listed $64,900 399-char remark

   Show marketing remark (399 chars)

   3 Bedroom with-Off Street parking*One car covered car port with nice enclosed work area* Long driveway*Flat back yard* Brand new carpet thru out* First floor bedroom with fireplace*Ceramic tile in Kitchen and bath*Bath is brand new* Home is freshly painted with new doors and trim*New hot water heater*Brand new lighting thru out* Very large Bedrooms* A rare find at this price* Immediate Occupancy!

10. 2012-09-24
    soldstatus $23,000
11. 2012-08-22
    listed $20,000
12. 2006-02-27
    soldstatus $67,500
13. 2005-12-30
    listed $70,000
14. 2000-12-06
    soldstatus $90,495
15. 2000-11-30
    soldstatus $83,000
16. 2000-10-27
    listed $89,900

ⓘ 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: $2,148 · $179/mo
• Projected year-2 tax: $2,148 · $179/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 ≥102°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: $17,871
• − Mortgage interest: −$7,562
• − Property taxes: −$2,148
• − Insurance: −$675
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − Depreciation: −$3,927
• Taxable income: $699
• Est. tax owed @ 24.0%: −$168
• After-tax cash flow: $2,632/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
• City population: 34,373
• Population (ZIP): 20,396

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 (90%)
• Race & ethnicity: White 90% Two or more races 6% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 1% French/Haitian/Cajun 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: ▼ -110.37%
• Current HPI: 203.7263
• Rent YoY: —
• Metro: —
• 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

+50.2% since first listed

16 events — show timeline

• 2026-05-20 Pending — NKMLS
• 2026-04-25 Listed $135,000 NKMLS
• 2023-10-30 Sold (Public Records) $160,000 Public Records
• 2023-10-20 Sold (MLS) $160,000 NKMLS
• 2023-09-07 Pending — NKMLS
• 2023-09-05 Listed $149,000 NKMLS
• 2013-03-11 Sold (Public Records) $61,000 Public Records
• 2013-03-07 Sold (MLS) $61,000 NKMLS
• 2012-11-05 Listed $64,900 NKMLS
• 2012-09-24 Sold (MLS) $23,000 NKMLS
• 2012-08-22 Listed $20,000 NKMLS
• 2006-02-27 Sold (MLS) $67,500 NKMLS
• 2005-12-30 Listed $70,000 NKMLS
• 2000-12-06 Sold (Public Records) $90,495 Public Records
• 2000-11-30 Sold (MLS) $83,000 NKMLS
• 2000-10-27 Listed $89,900 NKMLS

Property tax history

+7.0%/yr

Latest (2025): $2,148 · +0.7% YoY. Source: county tax records.