1907 Howell St · Covington, KY 41014

$285,000

None bd · 2.0 ba · 1,836 sqft · MultiFamily public records · 8 Days on market

Built 1910 4,792 sqft lot Est $248k · 15% 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 +22.0/30.0
• DSCR +7.0/10.0
• 1% rule +4.7/10.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Completely renovated duplex with off street parking and large lot. 2/1 upstairs and 2/1 down with a shared basement. Each unit is rented for 1425 a month with about 10 months left on each lease.

Key facts

• Renovated duplex
• Off street parking
• Large lot

Tags

• RENOVATED DUPLEX
• OFF STREET PARKING
• LARGE LOT

Property features AI

Finance

• Financial info: 2 total units

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Multi-family property; Two levels; Built in 1910
• Construction: Concrete perimeter foundation; Brick construction; Shingle roof; Built in 1910
• Exterior features: Shingle roof; Brick construction

Interior

• Kitchen: Electric oven; Gas range; Refrigerator
• Heating & cooling: Central air; Forced air heating
• Interior features: Electric oven; Gas range; Refrigerator; Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $285k.

Deal economics

• At list price, monthly cash flow is $385 ($5k/yr) — positive. Per door: $192/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (3.2% below list).
• Recommended offer: $276k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 8.2% 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 fast (+5.1%/yr); 60 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).
• At $2,758/mo this rent would consume 54% of the median local household income ($61k/yr) (locally 511% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $212k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $275,800 (3.2% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.79%
• DSCR: 1.30
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $247,860
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
511 Highland Pike	0.08mi	2/2.0	1,760 (-4%)	8mo	$240,000	$136	83
309 Hawthorne St	0.13mi	2/2.0	1,892 (+3%)	11mo	$208,000	$110	79
603 Highland Pike	0.15mi	3/2.0	1,710 (-7%)	4mo	$222,500	$130	78
1610 Banklick St	0.37mi	—/—	1,808 (-2%)	16mo	$145,000	$80	67
2225 Madison Ave	0.35mi	2/2.0	1,998 (+9%)	7mo	$270,000	$135	63
1913 Denver St	0.63mi	2/2.0	1,890 (+3%)	8mo	$229,400	$121	60
107 E 18th St	0.50mi	6/2.0	1,708 (-7%)	12mo	$265,000	$155	55
1730 Greenup St	0.55mi	6/2.0	1,964 (+7%)	13mo	$150,000	$76	52
202 Levassor Ave	0.67mi	5/3.0	1,806 (-2%)	13mo	$258,000	$143	52
2017 Greenup St	0.48mi	2/2.0	2,064 (+12%)	10mo	$200,000	$97	49
201 E 26th St	0.73mi	2/2.0	1,598 (-13%)	8mo	$333,000	$208	38
16 Martin St	0.70mi	4/4.0	1,628 (-11%)	8mo	$220,000	$135	34

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 · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-15,692
• Equity at exit: $42,494

10-year hold

• IRR: 6.7%
• Equity multiple: 1.55×
• Total profit: $43,514
• Equity at exit: $24,642

Cash invested: $79,800 (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 41014

• Rents YoY: 5.1%
• Active inventory: 60
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $2,758 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$114 /mo · $1,368/yr
• Insurance: −$119
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $385

Break-even live

Break-even rent $2,271

Max offer price $285,000

Occupancy floor 81%

Sensitivity live

Price	-10% $546	-5% $466	+0% $385	+5% $304	+10% $224
Rent	-10% $167	-5% $276	+0% $385	+5% $494	+10% $603
Rate	-1.0pp $529	-0.5pp $457	base $385	+0.5pp $311	+1.0pp $236

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,758
Total (2 units)			$2,758

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.43mi
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	5d	1	0.56mi
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	24d	1	0.81mi

Listing history 6 events

1. 2026-06-21
   days on market $285,000 Active 8 DOM
2. 2026-06-18
   days on market $285,000 Active 5 DOM
3. 2026-06-17
   days on market $285,000 Active 4 DOM
4. 2026-06-16
   days on market $285,000 Active 3 DOM
5. 2026-06-15
   remarks 194-char remark
6. 2026-06-15
   listed $285,000 Active 2 DOM

ⓘ 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: $1,368 · $114/mo
• Projected year-2 tax: $2,451 · $204/mo
• Expected delta: +$1,082/yr (+$90/mo · 79.1%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% 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: $33,096
• − Mortgage interest: −$15,964
• − Property taxes: −$1,368
• − Insurance: −$2,222
• − Repairs & maintenance: −$2,648
• − Management: −$2,648
• − Depreciation: −$8,291
• Taxable loss: −$46
• Est. tax savings @ 24.0%: +$11
• After-tax cash flow: $4,631/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): 7,392
• Household income: $61,382
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 511.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 10% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -172.77%
• Current HPI: 233.8216
• Rent YoY: ▲ 5.13%
• 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

+850.0% since first listed

3 events — show timeline

• 2026-06-13 Listed $285,000 NKMLS
• 2026-01-14 Sold (Public Records) $212,500 Public Records
• 1988-12-06 Sold (Public Records) $30,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $1,368 · +0.7% YoY. Source: county tax records.