171 Slate Rd · Corbin, KY 40701

$179,900

3 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 44 Days on market

0.50 ac lot $125/sqft · 21% below area Est $228k · 21% under

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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).

• ARV discount +15.0/15.0
• Cash flow +6.7/30.0
• Appreciation +5.9/10.0
• Schools +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.0/10.0

Listing remarks

Beautifully renovated 3-bedroom, 2-bath brick home offering modern updates throughout! This move-in ready property features completely updated bathrooms, new flooring, fresh drywall, updated electrical and plumbing, and a stylish kitchen with brand-new appliances. The exterior has also been refreshed with a new deck just off the kitchen, perfect for relaxing or entertaining. Enjoy a nice partially fenced yard in a great location close to Laurel River Lake and Keavy Elementary School. Conveniently located only 10 minutes from Corbin with easy access to shopping, restaurants, and entertainment.

Key facts

• 0.5 acre lot
• Listed 44 days

Property features AI

Exterior

• Utilities: Septic tank sewer
• Home design: One level
• Construction: Brick veneer exterior; Block foundation; Metal roof; Built area approximately 1,440
• Exterior features: Rural view; Public water

Interior

• Kitchen: Includes dishwasher, microwave, refrigerator, and range
• Bedrooms: 2 total rooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Electric cooling
• Interior features: Dishwasher; Microwave; Refrigerator; Range

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-284 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (22.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (32.5% below list).
• Recommended offer: $121k (32.5% below list) — sets the bar for 1% rule.
• Cap rate 4.4% 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.
• Laurel County (town): math 51% / reading 56% proficiency, ranked #8 of 165 in KY (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Keavy Elementary School (math 72% / reading 67%, grade A-, #9 of 676 statewide, top 1%, 282 students, 68% FRL); South Laurel Middle School (math 36% / reading 50%, grade D-, #43 of 217 statewide, top 21%, 979 students, 70% FRL); South Laurel High School (math 37% / reading 42%, grade F, #40 of 254 statewide, top 19%, 1,108 students, 66% FRL).
• Market conditions: 331 active listings in the ZIP; 16 units permitted in Laurel County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $3k appreciation (1.8% local appreciation)).
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $180k implies a 56% gain — meaningful room to come down on a strong offer.

Recommended offer $121,448 (32.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.68% ✗
• Cap rate: 4.40%
• Cash-on-cash: -6.76%
• DSCR: 0.70
• GRM: 12.3

CMA / ARV

• ARV (median comp): $227,552
• List price: $179,900
• Delta: -20.94%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
81 Storms Rd	0.08mi	3/2.0	1,372 (-5%)	12mo	$225,500	$164	78
215 Rydell Rd	0.35mi	3/2.0	1,400 (-3%)	10mo	$185,000	$132	71
601 Moberly Bend Rd	0.41mi	3/2.0	1,565 (+9%)	1mo	$300,000	$192	66
103 Storms Rd	0.19mi	3/2.0	1,605 (+12%)	22mo	$220,000	$137	54
202 Firebrook Dr	0.71mi	3/2.0	1,473 (+2%)	11mo	$219,000	$149	54
1828 Holly Grove Rd	0.45mi	2/1.5 (-1)	1,248 (-13%)	20mo	$230,000	$184	33

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: -2.7%
• Equity multiple: 0.85×
• Total profit: $-7,324
• Equity at exit: $69,255

10-year hold

• IRR: 2.0%
• Equity multiple: 1.27×
• Total profit: $13,599
• Equity at exit: $98,436

Cash invested: $50,372 (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: 12.3×

Monthly cashflow live

• Estimated rent: $1,214 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $-284

Break-even live

Break-even rent $1,574

Max offer price $138,832

Occupancy floor —

Sensitivity live

Price	-10% $-159	-5% $-222	+0% $-284	+5% $-346	+10% $-408
Rent	-10% $-380	-5% $-332	+0% $-284	+5% $-236	+10% $-188
Rate	-1.0pp $-193	-0.5pp $-238	base $-284	+0.5pp $-330	+1.0pp $-378

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $179,900 Active 44 DOM
2. 2026-06-21
   days on market $179,900 Active 43 DOM
3. 2026-06-18
   days on market $179,900 Active 41 DOM
4. 2026-06-17
   days on market $179,900 Active 40 DOM
5. 2026-06-16
   days on market $179,900 Active 39 DOM
6. 2026-06-15
   days on market $179,900 Active 38 DOM
7. 2026-06-13
   days on market $179,900 Active 36 DOM
8. 2026-06-12
   days on market $179,900 Active 35 DOM
9. 2026-06-09
   days on market $179,900 Active 32 DOM
10. 2026-06-08
    days on market $179,900 Active 31 DOM
11. 2026-06-07
    days on market $179,900 Active 30 DOM
12. 2026-06-07
    days on market $179,900 Active 29 DOM
13. 2026-06-04
    days on market $179,900 Active 26 DOM
14. 2026-06-02
    days on market $179,900 Active 25 DOM
15. 2026-06-01
    days on market $179,900 Active 24 DOM
16. 2026-05-31
    days on market $179,900 Active 23 DOM
17. 2026-05-31
    days on market $179,900 Active 22 DOM
18. 2026-05-06
    listed $189,900 Active
19. 2025-03-24
    listed $115,000
20. 2025-03-24
    historical
21. 2025-03-24
    soldstatus $115,000 Closed
22. 1993-12-01
    soldstatus $29,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,574
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − Depreciation: −$5,233
• Taxable loss: −$6,667
• Est. tax savings @ 24.0%: +$1,600
• After-tax cash flow: $-1,806/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: Laurel County
• NCES district ID: 2103210
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 56% ▼ -11.00%
• Median HH income: $36,577
• Composite: 44.39/100
• National rank: #2814
• State rank: #8 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

• Population (ZIP): 29,767

Population outlook (Laurel County) Hauer SSP2

• Today (2025): 62,602 people
• By 2030: 63,310 · +1.1%
• By 2040: 63,706 · +1.8%
• By 2050: 62,705 · +0.2%
• By 2075: 58,574 · -6.4%
• By 2100: 50,888 · -18.7%

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 · Laurel

• 2024 margin: Solid R (+69.9) · D 14.5% · R 84.3% · Other 1.2%
• 2008→2024 swing: -11.9pp toward R · 2008: -58.0pp · 2024: -69.9pp
• All cycles: 2024: R+69.9 2020: R+66.7 2016: R+69.1 2012: R+63.6 2008: R+58.0

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

+509.8% since first listed

6 events — show timeline

• 2026-05-23 Price Changed $179,900 ImagineMLS
• 2026-05-06 Listed $189,900 ImagineMLS
• 2025-03-24 Sold (MLS) $115,000 ImagineMLS
• 2025-03-24 Listing Removed — ImagineMLS
• 2025-03-24 Listed $115,000 ImagineMLS
• 1993-12-01 Sold (Public Records) $29,500 Public Records

Property tax history

-9.5%/yr

Latest (2025): $143 · -72.5% YoY. Source: county tax records.