9 Alberta St · Ludlow, KY 41016

$142,900

1 bd · 1.5 ba · 576 sqft · SingleFamily public records · 46 Days on market

Built 1906 1,742 sqft lot $248/sqft · 14% above area Est $125k · 14% 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 +20.6/30.0
• DSCR +6.5/10.0
• 1% rule +4.5/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +1.2/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wow why rent when you can own. This is a maintenance free no step interior living. This has been completely updated for peace of mind with new metal roof, insulation, mini split heating/cooling systems. Beautiful finishes with new kitchen and bath. Extra bonus space in partially finished lower level. Close and convenient location to downtown and Covington.

Key facts

• New metal roof
• New bath
• New kitchen

Tags

• MAINTENANCE FREE
• NO STEP INTERIOR
• NEW METAL ROOF
• MINI SPLIT HEATING COOLING
• NEW KITCHEN
• NEW BATH

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $143k.

Deal economics

• At list price, monthly cash flow is $124 ($1k/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 $135k (5.3% below list).
• Recommended offer: $135k (5.3% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 2.8% in Ludlow — 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 87/100 on livability (#36 in KY, #326 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+.
• Ludlow Independent (suburban): math 26% / reading 33% proficiency, ranked #105 of 165 in KY (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 92 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $988 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 46 days — a 3% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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 $5k; list at $143k implies a 2758% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,338 (5.3% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 7.89%
• Cash-on-cash: 5.71%
• DSCR: 1.25
• GRM: 8.8

CMA / ARV

• ARV (median comp): $125,389
• List price: $142,900
• Delta: 13.97%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Alberta St	0.00mi	1/1.0	576 (0%)	1mo	$130,000	$226	98
392 Altamont Rd	0.16mi	2/1.0 (+1)	651 (+13%)	9mo	$65,000	$100	56

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: -10.5%
• Equity multiple: 0.62×
• Total profit: $-15,266
• Equity at exit: $21,307

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-3,150
• Equity at exit: $12,355

Cash invested: $40,012 (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 41016

• Active inventory: 92
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$749
• Tax from tax record: −$70 /mo · $838/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $124

Break-even live

Break-even rent $1,196

Max offer price $142,900

Occupancy floor 86%

Sensitivity live

Price	-10% $205	-5% $164	+0% $124	+5% $84	+10% $43
Rent	-10% $17	-5% $71	+0% $124	+5% $177	+10% $231
Rate	-1.0pp $196	-0.5pp $160	base $124	+0.5pp $87	+1.0pp $49

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: $35,725
• Closing costs: $4,287
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1261 Parkway Ave Covington, KY	1.0–2.0	1.0	850	$1,100	$1.29	5d	3	0.13mi
22 Swain Ct Covington, KY	1.0–3.0	1.0–2.0	951	$1,495	$1.57	2d	3	0.32mi
105 Ash St Unit 1364141P Ludlow, KY	2.0	1.0	699	$2,906	$4.16	8d	1	0.50mi
2 Adela Ave Unit 2 Ludlow, KY	1.0	1.0	500	$1,000	$2.00	44d	1	1.02mi
2361 Maryland Ave Cincinnati, OH	2.0	1.0	750	$1,200	$1.60	24d	1	1.25mi
1002 Parkvale Ct Unit 1002 3 Park Hills, KY	1.0	1.0	750	$925	$1.23	8d	1	1.29mi
205 W 4th St Cincinnati, OH	2.0	1.0–2.0	648	$1,686	$2.60	2d	44	1.30mi
151 W 4th St Cincinnati, OH	2.0	1.0	726	$1,899	$2.61	2d	102	1.33mi
151 W 4th St Cincinnati, OH	1.0–2.0	1.0	487	$1,500	$3.08	3d	8	1.33mi
810 Plum St Unit 404 Cincinnati, OH	1.0	1.0	485	$1,250	$2.58	3d	1	1.40mi
810 Plum St Ste 2 Cincinnati, OH	1.0	1.0	485	$1,299	$2.68	24d	1	1.40mi
464 Grand Ave #1 Cincinnati, OH	1.0	1.0	750	$1,100	$1.47	17d	1	1.40mi
44 W Freedom Way Cincinnati, OH	2.0	1.0–2.0	943	$2,229	$2.36	2d	28	1.40mi
135 Garfield Pl Cincinnati, OH	1.0	1.0	670	$1,413	$2.11	2d	6	1.43mi
305 W Pike St Unit 305-103 Covington, KY	1.0	1.0	500	$875	$1.75	17d	1	1.44mi
309 Vine St Cincinnati, OH	1.0–3.0	1.0–2.0	955	$1,600	$1.68	2d	15	1.45mi
1 W 4th St Cincinnati, OH	3.0	1.0–3.5	1675	$3,900	$2.33	3d	96	1.47mi
5 Devou Woods Covington, KY	2.0	1.0	700	$890	$1.27	2d	1	1.49mi
111 Garfield Pl Unit GAR-0105 Cincinnati, OH	1.0	1.0	750	$1,190	$1.59	5d	1	1.50mi
111 Garfield Pl Unit GAR-1001 Cincinnati, OH	—	1.0	550	$1,070	$1.95	24d	1	1.50mi
111 Garfield Pl Unit GAR-0501 Cincinnati, OH	—	1.0	550	$980	$1.78	5d	1	1.50mi

Listing history 8 events

1. 2026-05-13
   price $142,900 359-char remark

   Show marketing remark (359 chars)

   Wow why rent when you can own. This is a maintenance free no step interior living. This has been completely updated for peace of mind with new metal roof, insulation, mini split heating/cooling systems. Beautiful finishes with new kitchen and bath. Extra bonus space in partially finished lower level. Close and convenient location to downtown and Covington.

2. 2026-04-14
   status Active 359-char remark

   Show marketing remark (359 chars)

   Wow why rent when you can own. This is a maintenance free no step interior living. This has been completely updated for peace of mind with new metal roof, insulation, mini split heating/cooling systems. Beautiful finishes with new kitchen and bath. Extra bonus space in partially finished lower level. Close and convenient location to downtown and Covington.

3. 2026-04-07
   status Pending 359-char remark

   Show marketing remark (359 chars)

   Wow why rent when you can own. This is a maintenance free no step interior living. This has been completely updated for peace of mind with new metal roof, insulation, mini split heating/cooling systems. Beautiful finishes with new kitchen and bath. Extra bonus space in partially finished lower level. Close and convenient location to downtown and Covington.

4. 2026-04-02
   listed $144,900 Active 359-char remark

   Show marketing remark (359 chars)

   Wow why rent when you can own. This is a maintenance free no step interior living. This has been completely updated for peace of mind with new metal roof, insulation, mini split heating/cooling systems. Beautiful finishes with new kitchen and bath. Extra bonus space in partially finished lower level. Close and convenient location to downtown and Covington.

5. 2017-06-05
   soldstatus $5,000 90-char remark

   Show marketing remark (90 chars)

   Sold As is. Structural issues. Home was previously rented for $600 for the past 10 years

6. 2017-04-12
   listed $19,900 90-char remark

   Show marketing remark (90 chars)

   Sold As is. Structural issues. Home was previously rented for $600 for the past 10 years

7. 2004-11-19
   historical
8. 2004-05-19
   listed $49,900

ⓘ 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: $838 · $70/mo
• Projected year-2 tax: $1,229 · $102/mo
• Expected delta: +$391/yr (+$33/mo · 46.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥103°F today · 19 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: $16,241
• − Mortgage interest: −$8,005
• − Property taxes: −$838
• − Insurance: −$1,512
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$4,157
• Taxable loss: −$870
• Est. tax savings @ 24.0%: +$209
• After-tax cash flow: $1,696/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: Ludlow Independent
• NCES district ID: 2103630
• Math proficiency: 26% ▼ -17.00%
• Reading proficiency: 33% ▼ -26.00%
• Median HH income: $44,821
• Composite: 25.27/100
• National rank: #7492
• State rank: #105 of 165 in KY

Livability — Ludlow

• Score: 87/100
• State rank: #36
• US rank: #326

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ludlow, KY
• County: Kenton County · 142,881 people
• City population: 5,795
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 5,795
• Household income: $71,172
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 95.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 10% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Romanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 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: ▼ -141.84%
• Current HPI: 215.1436
• Rent YoY: —
• 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

+186.4% since first listed

8 events — show timeline

• 2026-05-13 Price Changed $142,900 NKMLS
• 2026-04-14 Relisted — NKMLS
• 2026-04-07 Pending — NKMLS
• 2026-04-02 Listed $144,900 NKMLS
• 2017-06-05 Sold (MLS) $5,000 NKMLS
• 2017-04-12 Listed $19,900 NKMLS
• 2004-11-19 Listing Removed — NKMLS
• 2004-05-19 Listed $49,900 NKMLS

Property tax history

+2.8%/yr

Latest (2025): $838 · +0.4% YoY. Source: county tax records.