111 E 9th St · Covington, KY 41011

$294,900

4 bd · 2.0 ba · 1,676 sqft · SingleFamily public records · 1 Days on market

2,088 sqft lot Est $266k · 11% 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 +15.9/30.0
• DSCR +4.9/10.0
• Livability +4.3/5.0
• 1% rule +3.7/10.0
• Rent growth +2.9/5.0
• ARV discount +2.7/15.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 4 bedroom 3 bath historical brick in the heart of Covington*Lovely fenced yard great for entertaing*New Roof, HVAC,A/C, Granite* LVT Floors*Appliances* Brand new Beautiful Kitchen & Luxury Baths all complete with new*

Key facts

• First-floor bedroom
• Steps from landmarks
• Flexible floor plan

Tags

• WALKING DISTANCE TO DOWNTOWN
• STEPS FROM LANDMARKS
• FLEXIBLE FLOOR PLAN
• FIRST-FLOOR BEDROOM
• REMODELED BATH
• BACK YARD OASIS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; House with three or more levels; Existing structure; Has a view
• Construction: Brick construction; Asphalt roof; Stone foundation; Built as an existing structure
• Exterior features: Patio; Vinyl-clad windows with vinyl frames; Level lot

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Primary bedroom (15 x 14.7); Bedroom 2 (12.3 x 12.1); Bedroom 3 (14.6 x 14); Bedroom 4 (12.4 x 14.8); Bonus room (12.5 x 14.8)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central air; Window unit(s)
• Interior features: Granite counters; Entrance foyer; Eat-in kitchen; Ceiling fan(s); High ceilings; Multi-panel doors
• Laundry & utility: Washer; Dryer; Electric dryer hookup (main level)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/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 $258k (12.7% below list).
• Recommended offer: $258k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 5.3% in Covington — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: John G Carlisle Elementary (math 2% / reading 27%, grade F, #620 of 676 statewide, top 93%, 304 students, 81% 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 82% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 218 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).
• This rent runs 44% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 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 $202k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $257,541 (12.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 0.87% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.05%
• DSCR: 1.09
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $266,484
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
240 E Robbins St	0.16mi	3/2.0 (-1)	1,800 (+7%)	6mo	$286,000	$159	70
533 Lindsey St	0.46mi	3/2.0 (-1)	1,586 (-5%)	1mo	$252,000	$159	64
1326 Banklick	0.51mi	3/2.0 (-1)	1,716 (+2%)	6mo	$158,000	$92	62
113 Trevor St	0.29mi	3/2.0 (-1)	1,425 (-15%)	3mo	$205,000	$144	54
322 Hodge St	0.68mi	3/2.5 (-1)	1,760 (+5%)	0mo	$339,000	$193	53
1517 Banklick St	0.65mi	3/2.0 (-1)	1,536 (-8%)	4mo	$68,000	$44	47
214 W 8th St	0.71mi	4/2.0	1,480 (-12%)	2mo	$274,900	$186	46
318 Thornton St	0.74mi	3/1.0 (-1)	1,586 (-5%)	2mo	$225,000	$142	46
216 W 7th St	0.70mi	3/2.0 (-1)	1,501 (-10%)	1mo	$300,000	$200	44
515 Thornton St	0.59mi	3/2.0 (-1)	1,881 (+12%)	7mo	$205,000	$109	41
516 W 12th St	0.65mi	3/2.0 (-1)	1,434 (-14%)	2mo	$260,000	$181	39
1545 Holman St	0.73mi	3/1.0 (-1)	1,439 (-14%)	6mo	$200,000	$139	29

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: -14.6%
• Equity multiple: 0.48×
• Total profit: $-42,573
• Equity at exit: $43,971

10-year hold

• IRR: -8.4%
• Equity multiple: 0.51×
• Total profit: $-40,489
• Equity at exit: $25,498

Cash invested: $82,572 (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: 218
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,575 high
• Mortgage (P&I): −$1,546
• Tax from tax record: −$224 /mo · $2,693/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $141

Break-even live

Break-even rent $2,397

Max offer price $294,900

Occupancy floor 90%

Sensitivity live

Price	-10% $308	-5% $224	+0% $141	+5% $57	+10% $-26
Rent	-10% $-63	-5% $39	+0% $141	+5% $243	+10% $344
Rate	-1.0pp $289	-0.5pp $216	base $141	+0.5pp $64	+1.0pp $-13

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: $73,725
• Closing costs: $8,847
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Lee St Unit 3 Covington, KY	3.0	2.5	1850	$3,000	$1.62	25d	1	0.55mi
1927 Scott St Apt 1 Covington, KY	3.0	2.0	1865	$2,100	$1.13	21d	1	0.95mi
2030 Mackoy St Covington, KY	3.0	1.5	1598	$1,779	$1.11	6d	1	1.04mi
100 Aqua Way Newport, KY	1.0–3.0	1.0–2.0	1092	$3,850	$3.53	3d	4	1.23mi
309 Vine St Cincinnati, OH	1.0–3.0	1.0–2.0	955	$3,334	$3.49	3d	15	1.28mi
1 W 4th St Cincinnati, OH	3.0	1.0–3.5	1675	$9,200	$5.49	5d	96	1.33mi
601 E Pete Rose Way Cincinnati, OH	3.0	1.0–2.5	1039	$2,936	$2.83	3d	22	1.38mi
417 Vine St Cincinnati, OH	3.0	2.0	1602	$2,950	$1.84	16d	1	1.38mi
2307 Center St Covington, KY	3.0	1.5	1216	$1,950	$1.60	9d	1	1.40mi

Listing history 22 events

1. 2026-05-28
   listed $294,900 Active
2. 2023-02-23
   soldstatus $202,000
3. 2023-02-21
   soldstatus $202,000 Sold 234-char remark

   Show marketing remark (234 chars)

   Beautiful 4 bedroom 3 bath historical brick in the heart of Covington*Lovely fenced yard great for entertaing*New Roof, HVAC,A/C, Granite* LVT Floors*Appliances* Brand new Beautiful Kitchen & Luxury Baths all complete with new*

4. 2023-01-14
   status Pending 234-char remark

   Show marketing remark (234 chars)

   Beautiful 4 bedroom 3 bath historical brick in the heart of Covington*Lovely fenced yard great for entertaing*New Roof, HVAC,A/C, Granite* LVT Floors*Appliances* Brand new Beautiful Kitchen & Luxury Baths all complete with new*

5. 2023-01-10
   price $209,900 234-char remark

   Show marketing remark (234 chars)

   Beautiful 4 bedroom 3 bath historical brick in the heart of Covington*Lovely fenced yard great for entertaing*New Roof, HVAC,A/C, Granite* LVT Floors*Appliances* Brand new Beautiful Kitchen & Luxury Baths all complete with new*

6. 2022-12-28
   price $225,000 234-char remark

   Show marketing remark (234 chars)

   Beautiful 4 bedroom 3 bath historical brick in the heart of Covington*Lovely fenced yard great for entertaing*New Roof, HVAC,A/C, Granite* LVT Floors*Appliances* Brand new Beautiful Kitchen & Luxury Baths all complete with new*

7. 2022-12-16
   listed $239,900 Active 234-char remark

   Show marketing remark (234 chars)

   Beautiful 4 bedroom 3 bath historical brick in the heart of Covington*Lovely fenced yard great for entertaing*New Roof, HVAC,A/C, Granite* LVT Floors*Appliances* Brand new Beautiful Kitchen & Luxury Baths all complete with new*

8. 2022-06-30
   soldstatus $68,000 Sold 291-char remark

   Show marketing remark (291 chars)

   *This Home Needs TLC*Great Investment Property In The Heart Of Covington*Could Be A Perfect New Property For your Rental Portfolio*Seller Has This Home Plus 2 Commercial Properties On Scott Street That He Is Selling As Well*Please See Agent Remarks*Home Is Sold As Is*72 Hour Showing Notice*

9. 2022-01-26
   status Pending 291-char remark

   Show marketing remark (291 chars)

   *This Home Needs TLC*Great Investment Property In The Heart Of Covington*Could Be A Perfect New Property For your Rental Portfolio*Seller Has This Home Plus 2 Commercial Properties On Scott Street That He Is Selling As Well*Please See Agent Remarks*Home Is Sold As Is*72 Hour Showing Notice*

10. 2022-01-25
    status Active 291-char remark

    Show marketing remark (291 chars)

    *This Home Needs TLC*Great Investment Property In The Heart Of Covington*Could Be A Perfect New Property For your Rental Portfolio*Seller Has This Home Plus 2 Commercial Properties On Scott Street That He Is Selling As Well*Please See Agent Remarks*Home Is Sold As Is*72 Hour Showing Notice*

11. 2022-01-15
    historical 291-char remark

    Show marketing remark (291 chars)

    *This Home Needs TLC*Great Investment Property In The Heart Of Covington*Could Be A Perfect New Property For your Rental Portfolio*Seller Has This Home Plus 2 Commercial Properties On Scott Street That He Is Selling As Well*Please See Agent Remarks*Home Is Sold As Is*72 Hour Showing Notice*

12. 2021-12-30
    listed $100,000 Active 291-char remark

    Show marketing remark (291 chars)

    *This Home Needs TLC*Great Investment Property In The Heart Of Covington*Could Be A Perfect New Property For your Rental Portfolio*Seller Has This Home Plus 2 Commercial Properties On Scott Street That He Is Selling As Well*Please See Agent Remarks*Home Is Sold As Is*72 Hour Showing Notice*

13. 2021-12-17
    historical
14. 2021-11-24
    historical
15. 2021-11-24
    historical
16. 2021-11-24
    listed $100,000 Active
17. 2021-11-24
    listed $159,000 Active
18. 2021-10-27
    status Pending
19. 2021-09-23
    listed $159,000 Active
20. 2003-04-16
    soldstatus $63,000
21. 2003-04-16
    soldstatus $63,000
22. 2002-11-12
    listed $73,000

ⓘ 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: $2,693 · $224/mo
• Projected year-2 tax: $2,693 · $224/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: $30,905
• − Mortgage interest: −$16,519
• − Property taxes: −$2,693
• − Insurance: −$1,474
• − Repairs & maintenance: −$2,472
• − Management: −$2,472
• − Depreciation: −$8,579
• Taxable loss: −$3,305
• Est. tax savings @ 24.0%: +$793
• After-tax cash flow: $2,483/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

+304.0% since first listed

22 events — show timeline

• 2026-05-28 Listed $294,900 NKMLS
• 2023-02-23 Sold (Public Records) $202,000 Public Records
• 2023-02-21 Sold (MLS) $202,000 NKMLS
• 2023-01-14 Pending — NKMLS
• 2023-01-10 Price Changed $209,900 NKMLS
• 2022-12-28 Price Changed $225,000 NKMLS
• 2022-12-16 Listed $239,900 NKMLS
• 2022-06-30 Sold (MLS) $68,000 NKMLS
• 2022-01-26 Pending — NKMLS
• 2022-01-25 Relisted — NKMLS
• 2022-01-15 Listing Removed — NKMLS
• 2021-12-30 Listed $100,000 NKMLS
• 2021-12-17 Listing Removed — NKMLS
• 2021-11-24 Listing Removed — NKMLS
• 2021-11-24 Listing Removed — NKMLS
• 2021-11-24 Listed $159,000 NKMLS
• 2021-11-24 Listed $100,000 NKMLS
• 2021-10-27 Pending — NKMLS
• 2021-09-23 Listed $159,000 NKMLS
• 2003-04-16 Sold (Public Records) $63,000 Public Records
• 2003-04-16 Sold (MLS) $63,000 NKMLS
• 2002-11-12 Listed $73,000 NKMLS

Property tax history

+9.4%/yr

Latest (2025): $2,693 · +0.7% YoY. Source: county tax records.