305 Hamlin Ave · Corbin, KY 40701

$70,000

3 bd · 1.0 ba · 1,543 sqft · SingleFamily public records · 70 Days on market

Built 1928 7,840 sqft lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Home is being Sold As Is

Key facts

• Corner lot
• 7,840 sq ft lot
• 2 garage spots

Tags

• CORNER LOT
• WALKING DISTANCE TO CITY POOL
• WALKING DISTANCE TO LIBRARY
• WALKING DISTANCE TO BANKS
• WALKING DISTANCE TO SCHOOLS
• WALKING DISTANCE TO SHOPPING

Property features AI

Exterior

• Parking: Detached garage; Driveway; Off-street parking
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected; Phone available; Water connected
• Home design: House; One story
• Construction: Vinyl siding; Block foundation; Shingle roof; Built with vinyl siding
• Exterior features: Barn(s); Shed(s); Chain link fencing; Public water

Interior

• Kitchen: Cooktop; Refrigerator
• Bedrooms: Total rooms: 7
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Eat-in kitchen; Primary bedroom on the first floor; Ceiling fan(s)
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.7% vs local median 3.3% in Corbin — 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 69/100 on livability (#179 in KY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Corbin Independent (town): math 42% / reading 50% proficiency, ranked #20 of 165 in KY (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Corbin Primary (math 42% / reading 32%, grade F, #255 of 676 statewide, top 42%, 769 students, 60% FRL); Corbin Middle School (math 46% / reading 56%, grade C, #20 of 217 statewide, top 10%, 646 students, 58% FRL); Corbin High School (math 22% / reading 42%, grade F, #97 of 254 statewide, top 46%, 829 students, 53% FRL).
• Market conditions: 331 active listings in the ZIP; 1 comparable units currently listed for rent nearby.

Forward outlook

• In year one you build about $2k of equity ($484 loan paydown + $1k appreciation (1.8% local appreciation)).
• Knox County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $40k; list at $70k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.96% ✓
• Cap rate: 17.70%
• Cash-on-cash: 40.74%
• DSCR: 2.81
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $168,187
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 Caldwell St	0.33mi	3/1.0	1,579 (+2%)	12mo	$41,290	$26	71
327 Hamlin Ave	0.12mi	3/2.0	1,468 (-5%)	21mo	$167,500	$114	65
205 Nelson St	0.50mi	3/2.0	1,568 (+2%)	6mo	$25,000	$16	65
222 Hawe St	0.54mi	3/2.0	1,496 (-3%)	4mo	$210,000	$140	62
307 Ford St	0.22mi	3/1.5	1,375 (-11%)	11mo	$150,000	$109	60
409 Florence Ave	0.50mi	3/2.0	1,584 (+3%)	14mo	$126,000	$80	56
302 South S Laurel Ave	0.44mi	3/1.0	1,414 (-8%)	17mo	$60,000	$42	52
304 South Poplar Ave	0.69mi	2/1.0 (-1)	1,472 (-5%)	12mo	$143,000	$97	45
149 Hawe St	0.56mi	4/2.0 (+1)	1,400 (-9%)	7mo	$204,000	$146	44
201 Padgett St St	0.74mi	3/1.0	1,333 (-14%)	1mo	$145,000	$109	42
1082 N Beatty Ave	0.71mi	3/2.0	1,680 (+9%)	8mo	$207,500	$124	41
214 W Center St	0.72mi	4/2.0 (+1)	1,410 (-9%)	3mo	$179,900	$128	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.5%
• Equity multiple: 3.37×
• Total profit: $46,536
• Equity at exit: $26,947

10-year hold

• IRR: 45.4%
• Equity multiple: 6.71×
• Total profit: $111,818
• Equity at exit: $38,302

Cash invested: $19,600 (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 40701

• Home prices YoY: 0.6%
• Active inventory: 331
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$25 /mo · $296/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $665

Break-even live

Break-even rent $533

Max offer price $70,000

Occupancy floor 47%

Sensitivity live

Price	-10% $705	-5% $685	+0% $665	+5% $646	+10% $626
Rent	-10% $557	-5% $611	+0% $665	+5% $720	+10% $774
Rate	-1.0pp $701	-0.5pp $683	base $665	+0.5pp $647	+1.0pp $629

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1003 W 5th St Corbin, KY	3.0	1.0	1186	$1,375	$1.16	45d	1	1.20mi

Listing history 21 events

1. 2026-06-21
   days on market $70,000 Active 70 DOM
2. 2026-06-18
   days on market $70,000 Active 68 DOM
3. 2026-06-17
   days on market $70,000 Active 67 DOM
4. 2026-06-16
   days on market $70,000 Active 66 DOM
5. 2026-06-15
   days on market $70,000 Active 65 DOM
6. 2026-06-13
   days on market $70,000 Active 63 DOM
7. 2026-06-12
   days on market $70,000 Active 62 DOM
8. 2026-06-09
   days on market $70,000 Active 59 DOM
9. 2026-06-08
   days on market $70,000 Active 58 DOM
10. 2026-06-07
    days on market $70,000 Active 57 DOM
11. 2026-06-04
    days on market $70,000 Active 53 DOM
12. 2026-06-02
    days on market $70,000 Active 52 DOM
13. 2026-06-01
    days on market $70,000 Active 51 DOM
14. 2026-05-31
    days on market $70,000 Active 50 DOM
15. 2026-05-31
    days on market $70,000 Active 49 DOM
16. 2026-04-11
    listed $70,000 Active
17. 2009-06-17
    soldstatus $40,000 24-char remark

    Show marketing remark (24 chars)

    Home is being Sold As Is

18. 2009-05-06
    listed $42,900 24-char remark

    Show marketing remark (24 chars)

    Home is being Sold As Is

19. 2008-01-10
    historical
20. 2007-09-16
    listed $79,900
21. 2003-12-01
    soldstatus $49,000

ⓘ 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: $296 · $25/mo
• Projected year-2 tax: $602 · $50/mo
• Expected delta: +$306/yr (+$26/mo · 103.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,500
• − Mortgage interest: −$3,921
• − Property taxes: −$296
• − Insurance: −$350
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$2,036
• Taxable income: $7,257
• Est. tax owed @ 24.0%: −$1,742
• After-tax cash flow: $6,243/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: Corbin Independent
• NCES district ID: 2101320
• Math proficiency: 42% ▼ -19.00%
• Reading proficiency: 50% ▼ -13.00%
• Median HH income: $36,928
• Composite: 38.19/100
• National rank: #4259
• State rank: #20 of 165 in KY

Livability — Corbin

• Score: 69/100
• State rank: #179
• US rank: #8891

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment F Housing A+ Health & safety F User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corbin, KY
• Population (ZIP): 29,767

Population outlook (Knox County) Hauer SSP2

• Today (2025): 30,741 people
• By 2030: 29,887 · -2.8%
• By 2040: 27,940 · -9.1%
• By 2050: 25,826 · -16.0%
• By 2075: 20,895 · -32.0%
• By 2100: 16,238 · -47.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+71.1) · D 13.8% · R 85.0% · Other 1.2%
• 2008→2024 swing: -26.6pp toward R · 2008: -44.6pp · 2024: -71.1pp
• All cycles: 2024: R+71.1 2020: R+67.0 2016: R+67.7 2012: R+53.9 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.82%
• Current HPI: 294.7961
• Rent YoY: —
• Metro: —
• 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

+42.9% since first listed

6 events — show timeline

• 2026-04-11 Listed $70,000 ImagineMLS
• 2009-06-17 Sold (MLS) $40,000 ImagineMLS
• 2009-05-06 Listed $42,900 ImagineMLS
• 2008-01-10 Listing Removed — ImagineMLS
• 2007-09-16 Listed $79,900 ImagineMLS
• 2003-12-01 Sold (Public Records) $49,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $296 · +0.2% YoY. Source: county tax records.