417 W 19th St · Covington, KY 41014

$269,000

None bd · None ba · 1,202 sqft · MultiFamily public records · 5 Days on market

Built 1917 1,307 sqft lot Est $261k · at est.

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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 +19.3/30.0
• DSCR +6.1/10.0
• ARV discount +6.1/15.0
• 1% rule +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• 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 MLS

Duplex in a great location with detached garage ready to rent or use. Up stairs/2nd floor unit has recently been renovated and features covered balcony, 1 bed, 1 bath, with W/D hook ups, basement storage, private side entrance. butcher block countertops, tall ceilings, gas range, and LVT Flooring. 1st floor unit is a 2 bedroom 1.5 bath with private front and rear entrance featuring fenced in private patio. Building is vacant and ready for it's new owner. Separate meters.

Key facts

• 1,307 sq ft lot
• Parking
• Built 1917

Property features AI

Finance

• Financial info: Two total units (multi-family)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Two-story multi-family property; Built in 1917
• Construction: Brick exterior; Concrete perimeter and stone foundation; Shingle roof; Built in 1917
• Exterior features: Shingle roof; Brick construction; Lot approximately 0.03 acres

Interior

• Kitchen: Electric range, Gas range, Dishwasher, Microwave, Refrigerator
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Full basement; Electric range, Gas range, Dishwasher, Microwave, Refrigerator

What this means for you Summary

Snapshot

• This is a 1×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $269k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive. Per door: $147/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 $250k (7.0% below list).
• Recommended offer: $250k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 699 units permitted in Kenton County in 2024 (287 in 5+ unit buildings).
• At $2,503/mo this rent would consume 49% 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 $8k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 30y 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 $189k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $250,300 (7.0% 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 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.93% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.68%
• DSCR: 1.21
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $260,834
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 W 19th St	0.00mi	3/2.0	1,202 (0%)	7mo	$189,000	$157	94
1823 Russell St	0.20mi	3/2.0	1,240 (+3%)	19mo	$269,000	$217	70

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: -6.8%
• Equity multiple: 0.74×
• Total profit: $-19,454
• Equity at exit: $40,109

10-year hold

• IRR: 5.0%
• Equity multiple: 1.40×
• Total profit: $30,371
• Equity at exit: $23,258

Cash invested: $75,320 (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: 18.9×

Monthly cashflow live

• Estimated rent: $2,503 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$161 /mo · $1,927/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $294

Break-even live

Break-even rent $2,131

Max offer price $269,000

Occupancy floor 83%

Sensitivity live

Price	-10% $446	-5% $370	+0% $294	+5% $218	+10% $142
Rent	-10% $96	-5% $195	+0% $294	+5% $393	+10% $492
Rate	-1.0pp $430	-0.5pp $362	base $294	+0.5pp $224	+1.0pp $153

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,189
1× unit	2	1	$1,315
Total (2 units)			$2,503

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2307 Center St Covington, KY	3.0	1.5	1216	$1,950	$1.60	9d	1	0.30mi
1551 Holman Ave Covington, KY	3.0	1.0	1379	$1,425	$1.03	0d	1	0.45mi
310 E 16th St Covington, KY	3.0	1.0	1300	$1,295	$1.00	0d	1	0.78mi
1209 Holman St Unit 2 Covington, KY	1.0	1.0	980	$1,225	$1.25	0d	1	0.80mi
1205 Lee St Unit 2 Covington, KY	1.0	1.0	800	$1,500	$1.88	25d	1	0.80mi
1215 Elberta Cir Park Hills, KY	2.0	1.0	825	$1,122	$1.36	0d	3	0.81mi
512 Wallace Ave Unit 512/18 Covington, KY	2.0	2.0	900	$1,299	$1.44	9d	1	0.81mi
1914 Eastern Ave Apt 3 Covington, KY	1.0	1.0	900	$995	$1.11	16d	1	0.82mi
1914 Eastern Ave Apt 1 Covington, KY	2.0	1.0	750	$1,200	$1.60	25d	1	0.82mi
1431 Dixie Hwy Park Hills, KY	1.0–2.0	1.0–2.0	920	$2,553	$2.77	0d	10	0.84mi
1222 E Henry Clay Ave Fort Wright, KY	3.0	1.5	1200	$1,548	$1.29	25d	1	0.84mi
2220 Cityscape Dr Covington, KY	1.0–2.0	1.0–2.0	932	$2,030	$2.18	0d	8	0.84mi
1002 Parkvale Ct Unit 1002 3 Park Hills, KY	1.0	1.0	750	$925	$1.23	9d	1	1.05mi
1002 Parkvale Ct Unit 1004 1 Park Hills, KY	2.0	1.0	850	$995	$1.17	45d	1	1.05mi
1000 Parkvale Ct Park Hills, KY	2.0	1.0	850	$1,495	$1.76	45d	1	1.05mi
344 E 13th St Unit 1 Covington, KY	2.0	1.0	1000	$1,275	$1.27	25d	1	1.07mi
1025 Scott St Unit 2 Covington, KY	2.0	2.0	1100	$1,800	$1.64	5d	1	1.08mi
119 W 33rd St Unit 1 Latonia, KY	1.0	1.0	900	$1,075	$1.19	25d	1	1.10mi
701 Madison Ave Unit 705 1 Covington, KY	1.0	1.0	775	$995	$1.28	0d	1	1.26mi
437 W 6th St Covington, KY	2.0	1.0–2.0	741	$2,799	$3.77	0d	11	1.35mi
634 Greenup St Covington, KY	1.0	1.5	1050	$1,595	$1.52	9d	1	1.37mi
515 Main St Covington, KY	1.0–2.0	1.0–2.0	907	$2,215	$2.44	0d	11	1.41mi
218 W 5th St Covington, KY	1.0	1.0	800	$1,595	$1.99	16d	1	1.42mi
521 Garrard St Apt 4 Covington, KY	1.0	1.0	725	$1,695	$2.34	19d	1	1.47mi
521 Garrard St Apt 2 Covington, KY	1.0	1.0	725	$1,595	$2.20	19d	1	1.47mi
521 Garrard St Apt 1 Covington, KY	1.0	1.5	825	$1,895	$2.30	19d	1	1.47mi
521 Garrard St Apt 6 Covington, KY	1.0	1.0	775	$1,995	$2.57	18d	1	1.47mi
521 Garrard St Apt 3 Covington, KY	1.0	1.0	875	$1,996	$2.28	16d	1	1.47mi
508 Greenup St Unit 508-02 Covington, KY	2.0	1.0	1220	$1,800	$1.48	4d	1	1.49mi

Listing history 4 events

1. 2026-06-21
   days on market $269,000 Active 5 DOM
2. 2026-06-18
   days on market $269,000 Active 2 DOM
3. 2026-06-17
   remarks 181-char remark
4. 2026-06-17
   listed $269,000 Active 1 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: $1,927 · $161/mo
• Projected year-2 tax: $2,313 · $193/mo
• Expected delta: +$387/yr (+$32/mo · 20.1%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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: $30,036
• − Mortgage interest: −$15,068
• − Property taxes: −$1,927
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,403
• − Management: −$2,403
• − Depreciation: −$7,825
• Taxable loss: −$935
• Est. tax savings @ 24.0%: +$224
• After-tax cash flow: $3,753/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

+668.6% since first listed

29 events — show timeline

• 2026-06-16 Listed $269,000 NKMLS
• 2025-11-26 Sold (Public Records) $189,000 Public Records
• 2025-11-25 Sold (MLS) $189,000 NKMLS
• 2025-09-11 Pending — NKMLS
• 2025-09-08 Listed $189,900 NKMLS
• 2025-08-05 Listing Removed — NKMLS
• 2025-07-23 Listing Removed — NKMLS
• 2025-07-23 Listed $189,900 NKMLS
• 2025-05-15 Listed $199,000 NKMLS
• 2025-04-30 Pending — NKMLS
• 2025-04-30 Listing Removed — NKMLS
• 2025-04-22 Listed $209,900 NKMLS
• 2021-05-17 Sold (MLS) $143,000 NKMLS
• 2021-04-07 Pending — NKMLS
• 2021-03-22 Listed $150,000 NKMLS
• 2019-08-05 Sold (Public Records) $127,500 Public Records
• 2019-07-30 Sold (MLS) $127,500 NKMLS
• 2019-05-29 Listed $135,000 NKMLS
• 2018-12-03 Sold (MLS) $114,500 NKMLS
• 2018-10-03 Listed $119,900 NKMLS
• 2006-03-07 Sold (Public Records) $366,000 Public Records
• 2005-02-08 Sold (Public Records) $55,000 Public Records
• 2005-02-07 Sold (MLS) $55,000 NKMLS
• 2004-08-09 Listed $70,000 NKMLS
• 1996-10-07 Sold (Public Records) $30,000 Public Records
• 1996-10-01 Sold (MLS) $30,000 NKMLS
• 1996-03-29 Listed $30,000 NKMLS
• 1993-08-30 Sold (Public Records) $37,000 Public Records
• 1990-02-05 Sold (Public Records) $35,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,927 · +0.7% YoY. Source: county tax records.