3668 Mills RdCovingtonKY41015
INVESTMENT ANALYSIS
Investment Verdict
Appreciation Play3668 Mills Rd, Covington, KY, 41015 in Covington is priced for appreciation, not yield. Rental yield 1.55%. At $698,500 with a 1.55% gross yield, the monthly income is modest, but 5% annual price growth is projected to add $192,983 in value over five years, making equity the primary return driver. Ziffy Mortgage's DSCR mortgage (0.29) can still finance this property for non-U.S. residents; a 30–35% down payment typically produces the cleanest underwriting for appreciation-focused assets. Total projected cumulative return: $48,901.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 1.6% | 7.2% |
| Monthly Cash Flow | $(3,351) | $850 |
City averages based on Covington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $900 |
| Total Monthly Debt Service | $3,973 |
| DSCR Ratio | 0.23x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2006
2.08 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 41015, Latonia, KY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,238 (100%) |
| Owner Occupied HU | 6,078 (65.8%) |
| Renter Occupied HU | 2,475 (26.8%) |
| Vacant Housing Units | 685 ( 7.4%) |
| Median Home Value | $234,273 |
| Average Home Value | $275,408 |
Housing Distribution
Address Breakdown
Residential
9,156
Single Family
8,244
Multi-Family
912
Businesses
406
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Single Family
Built in 2006
2.08 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 41015, Latonia, KY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,238 (100%) |
| Owner Occupied HU | 6,078 (65.8%) |
| Renter Occupied HU | 2,475 (26.8%) |
| Vacant Housing Units | 685 ( 7.4%) |
| Median Home Value | $234,273 |
| Average Home Value | $275,408 |
Housing Distribution
Address Breakdown
Residential
9,156
Single Family
8,244
Multi-Family
912
Businesses
406
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices