1717 Greenup St · Covington, KY 41011

$69,500

3 bd · 2.0 ba · 2,360 sqft · SingleFamily public records · 58 Days on market

Built 1909 4,400 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a complete rehab. House has been vacant for at least 2 years. The house is brick. The front porch has fallen off. Roof is in need of replaced, windows are gone. Sold as is!

Key facts

• Modern redesign
• Flexible layout
• Historic character

Tags

• SOLID BRICK EXTERIOR
• REVITALIZED HISTORIC HOMES
• FLEXIBLE LAYOUT
• MODERN REDESIGN
• HISTORIC CHARACTER

Property features AI

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: No water source listed; No sewer listed; No utilities listed
• Home design: Two levels; Property listed as duplex/house and single-family residence; Residential structure
• Construction: Built in 1909; Stone foundation
• Exterior features: Wood fencing; Has a view; Lot recorded as approximately 0.1 acre

Interior

• Kitchen: Main kitchen (full rehab noted); Second-floor kitchen previously in place
• Bedrooms: Primary bedroom (full rehab noted); Bedroom 2 (full rehab noted); Bedroom 3 — full third floor/attic converted to a room (full rehab noted); Bedroom 4 (full rehab noted)
• Bathrooms: Two full bathrooms; Second-floor half bathroom noted separately
• Interior features: Full stone basement; Pantry; Closet; Attic/bonus room previously used as bedrooms; Second-floor half bath

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 30.0% 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: Sixth District Elementary School (math 8% / reading 17%, grade F, #630 of 676 statewide, top 95%, 446 students, 84% 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 83% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 217 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $481 of loan paydown is wiped out by about $2k 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 + 1.6% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $16k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $70k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — 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 $67,415 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.32% ✓
• Cap rate: 30.02%
• Cash-on-cash: 84.73%
• DSCR: 4.77
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $403,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1613 Greenup St	0.09mi	4/3.0 (+1)	2,280 (-3%)	4mo	$350,000	$154	78
2110 Eastern Ave	0.40mi	4/2.5 (+1)	2,325 (-2%)	3mo	$450,000	$194	70
1549 Nancy St	0.24mi	4/2.5 (+1)	2,320 (-2%)	12mo	$253,000	$109	69
1527 Holman St	0.49mi	3/2.0	2,430 (+3%)	7mo	$315,000	$130	66
1919 Greenup St	0.18mi	4/3.5 (+1)	2,288 (-3%)	12mo	$391,500	$171	66
1125 Banklick St	0.68mi	3/2.0	2,242 (-5%)	0mo	$500,000	$223	59
1118 Holman Ave	0.74mi	3/2.5	2,302 (-2%)	2mo	$560,000	$243	58
13 E 24th St	0.52mi	3/1.5	2,110 (-11%)	6mo	$270,000	$128	51
311 W 20th St	0.48mi	3/2.0	2,090 (-11%)	12mo	$30,000	$14	48
1510 Greenup St	0.25mi	2/1.5 (-1)	2,711 (+15%)	11mo	$310,000	$114	47
651 Pointe Benton Ln	0.74mi	3/3.0	2,560 (+8%)	3mo	$500,499	$196	45
630 Pointe Benton Ln	0.69mi	3/4.0	2,448 (+4%)	13mo	$499,900	$204	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: 83.5%
• Equity multiple: 4.75×
• Total profit: $72,948
• Equity at exit: $10,363

10-year hold

• IRR: 86.4%
• Equity multiple: 9.38×
• Total profit: $163,051
• Equity at exit: $6,009

Cash invested: $19,460 (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: 217
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,305 high
• Mortgage (P&I): −$364
• Tax from tax record: −$53 /mo · $641/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $1,374

Break-even live

Break-even rent $566

Max offer price $69,500

Occupancy floor 35%

Sensitivity live

Price	-10% $1,413	-5% $1,394	+0% $1,374	+5% $1,354	+10% $1,335
Rent	-10% $1,192	-5% $1,283	+0% $1,374	+5% $1,465	+10% $1,556
Rate	-1.0pp $1,409	-0.5pp $1,392	base $1,374	+0.5pp $1,356	+1.0pp $1,338

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1927 Scott St Apt 1 Covington, KY	3.0	2.0	1865	$2,100	$1.13	21d	1	0.18mi
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	5d	1	0.27mi
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	24d	1	0.75mi
140 W 13th St Newport, KY	3.0	3.5	2505	$4,200	$1.68	13d	1	1.08mi
1170 Grays Peak Covington, KY	3.0	3.5	2808	$3,950	$1.41	3d	1	1.14mi
1700 Aspen Pines Dr Wilder, KY	1.0–3.0	1.0–2.5	1420	$2,365	$1.67	3d	14	1.19mi

Listing history 6 events

1. 2026-05-04
   price $69,500
2. 2026-03-29
   listed $85,000 Active
3. 2024-05-14
   soldstatus $43,664 Sold 180-char remark

   Show marketing remark (180 chars)

   This is a complete rehab. House has been vacant for at least 2 years. The house is brick. The front porch has fallen off. Roof is in need of replaced, windows are gone. Sold as is!

4. 2024-03-29
   status Pending 180-char remark

   Show marketing remark (180 chars)

   This is a complete rehab. House has been vacant for at least 2 years. The house is brick. The front porch has fallen off. Roof is in need of replaced, windows are gone. Sold as is!

5. 2024-01-19
   listed $45,000 Active 180-char remark

   Show marketing remark (180 chars)

   This is a complete rehab. House has been vacant for at least 2 years. The house is brick. The front porch has fallen off. Roof is in need of replaced, windows are gone. Sold as is!

6. 1993-07-06
   soldstatus $42,000

ⓘ 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: $641 · $53/mo
• Projected year-2 tax: $641 · $53/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 ≥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: $27,659
• − Mortgage interest: −$3,893
• − Property taxes: −$641
• − Insurance: −$348
• − Repairs & maintenance: −$2,213
• − Management: −$2,213
• − Depreciation: −$2,022
• Taxable income: $16,330
• Est. tax owed @ 24.0%: −$3,919
• After-tax cash flow: $12,569/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

+65.5% since first listed

6 events — show timeline

• 2026-05-04 Price Changed $69,500 NKMLS
• 2026-03-29 Listed $85,000 NKMLS
• 2024-05-14 Sold (MLS) $43,664 NKMLS
• 2024-03-29 Pending — NKMLS
• 2024-01-19 Listed $45,000 NKMLS
• 1993-07-06 Sold (Public Records) $42,000 Public Records

Property tax history

-4.6%/yr

Latest (2025): $641 · -63.3% YoY. Source: county tax records.