501 Walnut Ave · Corbin, KY 40701

$154,900

3 bd · 1.0 ba · 1,288 sqft · SingleFamily public records · 165 Days on market

Built 1955 4,356 sqft lot Est $165k · 6% under

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Why this score? — see what drove the C 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 +19.6/30.0
• ARV discount +10.2/15.0
• DSCR +6.2/10.0
• Appreciation +5.9/10.0
• 1% rule +3.9/10.0
• 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

Amazing location, just 2 blocks to downtown Corbin shops and restaurants, churches and close to Corbin City schools. Nice 3 bedroom 1 bath home has an updated kitchen, screened in back porch to enjoy. ! car detached garage with lots of storage options and electric.

Key facts

• Laundry room
• Remodeled kitchen
• Front porch

Tags

• UPDATED HOME
• REMODELED KITCHEN
• LAUNDRY ROOM
• FRONT PORCH
• BACK PORCH
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage; Driveway; Garage faces front
• Utilities: Public sewer; Electricity connected; Water connected; Sewer connected; Cable available; Phone available
• Home design: Single-story house; 1,320 total building area
• Construction: Vinyl siding; Dimensional style roof; Block foundation; Built with standard residential construction
• Exterior features: Neighborhood view; Public water; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Range
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Ceiling fan(s); Insulated windows with screens; Crawl space basement; No fireplace; 8 total rooms
• Laundry & utility: Washer hookup on main level; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/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 $138k (11.2% below list).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.

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: 332 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 65 units permitted in Whitley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.8% local appreciation)).
• Whitley County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, 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 165 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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: 0.89% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $164,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 Walnut Ave	0.00mi	3/1.0	1,320 (+2%)	0mo	$155,000	$117	96
201 Padgett St St	0.28mi	3/1.0	1,333 (+4%)	1mo	$145,000	$109	80
906 W 8th St	0.41mi	3/2.0	1,326 (+3%)	9mo	$169,000	$127	64
915 W 8th St	0.48mi	3/2.0	1,251 (-3%)	6mo	$199,000	$159	63
913 W 8th St	0.48mi	3/2.0	1,244 (-3%)	10mo	$225,900	$182	60
727 Gordon St	0.48mi	3/2.0	1,400 (+9%)	2mo	$185,500	$133	58
502 Chestnut St	0.51mi	3/2.0	1,212 (-6%)	6mo	$175,000	$144	57
207 W Center St	0.37mi	3/1.0	1,140 (-12%)	9mo	$100,000	$88	56
214 W Center St	0.38mi	4/2.0 (+1)	1,410 (+10%)	3mo	$179,900	$128	55
206 Hamlin Ave	0.63mi	3/1.0	1,160 (-10%)	1mo	$110,000	$95	53
131 Reasor St	0.73mi	3/2.0	1,233 (-4%)	9mo	$280,000	$227	47
303 17th St	0.73mi	2/2.0 (-1)	1,120 (-13%)	4mo	$135,000	$121	32

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: 8.9%
• Equity multiple: 1.47×
• Total profit: $20,576
• Equity at exit: $59,631

10-year hold

• IRR: 12.1%
• Equity multiple: 2.60×
• Total profit: $69,469
• Equity at exit: $84,757

Cash invested: $43,372 (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: 332
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$30 /mo · $362/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $179

Break-even live

Break-even rent $1,148

Max offer price $154,900

Occupancy floor 82%

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: $38,725
• Closing costs: $4,647
• 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	43d	1	0.52mi

Listing history 25 events

1. 2026-05-16
   status Pending
2. 2026-05-06
   price $154,900
3. 2026-04-13
   price $159,900
4. 2026-01-13
   price $164,900
5. 2025-12-16
   price $174,900
6. 2025-12-02
   listed $179,900 Active
7. 2021-10-28
   soldstatus $110,100 Closed 266-char remark

   Show marketing remark (266 chars)

   Amazing location, just 2 blocks to downtown Corbin shops and restaurants, churches and close to Corbin City schools. Nice 3 bedroom 1 bath home has an updated kitchen, screened in back porch to enjoy. ! car detached garage with lots of storage options and electric.

8. 2021-10-28
   soldstatus $110,100

   Show marketing remark (266 chars)

   Amazing location, just 2 blocks to downtown Corbin shops and restaurants, churches and close to Corbin City schools. Nice 3 bedroom 1 bath home has an updated kitchen, screened in back porch to enjoy. ! car detached garage with lots of storage options and electric.

9. 2021-09-30
   status Pending 266-char remark

   Show marketing remark (266 chars)

   Amazing location, just 2 blocks to downtown Corbin shops and restaurants, churches and close to Corbin City schools. Nice 3 bedroom 1 bath home has an updated kitchen, screened in back porch to enjoy. ! car detached garage with lots of storage options and electric.

10. 2021-09-17
    price $109,900 266-char remark

    Show marketing remark (266 chars)

    Amazing location, just 2 blocks to downtown Corbin shops and restaurants, churches and close to Corbin City schools. Nice 3 bedroom 1 bath home has an updated kitchen, screened in back porch to enjoy. ! car detached garage with lots of storage options and electric.

11. 2021-08-22
    listed $114,500 Active 266-char remark

    Show marketing remark (266 chars)

    Amazing location, just 2 blocks to downtown Corbin shops and restaurants, churches and close to Corbin City schools. Nice 3 bedroom 1 bath home has an updated kitchen, screened in back porch to enjoy. ! car detached garage with lots of storage options and electric.

12. 2014-03-20
    soldstatus $63,000 227-char remark

    Show marketing remark (227 chars)

    Priced to sell! Home offers 3 bedrooms 1 bath, new tile (kitchen, bath, laundry room), new carpet, cabinets, fresh paint, covered front porch, screened in back porch, and detached garage. All new appliances included.Owner/Agent

13. 2014-03-07
    historical 227-char remark

    Show marketing remark (227 chars)

    Priced to sell! Home offers 3 bedrooms 1 bath, new tile (kitchen, bath, laundry room), new carpet, cabinets, fresh paint, covered front porch, screened in back porch, and detached garage. All new appliances included.Owner/Agent

14. 2013-10-30
    listed $69,900 227-char remark

    Show marketing remark (227 chars)

    Priced to sell! Home offers 3 bedrooms 1 bath, new tile (kitchen, bath, laundry room), new carpet, cabinets, fresh paint, covered front porch, screened in back porch, and detached garage. All new appliances included.Owner/Agent

15. 2013-05-10
    soldstatus $23,000
16. 2013-05-10
    soldstatus $23,000
17. 2013-05-10
    soldstatus $23,000
18. 2013-05-10
    listed $23,000
19. 2013-04-01
    historical
20. 2013-03-26
    listed $23,000
21. 2013-03-26
    listed $23,000
22. 2009-09-30
    historical
23. 2009-03-14
    listed $84,900
24. 2005-09-09
    soldstatus $72,000
25. 2005-02-09
    listed $72,500

ⓘ 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: $362 · $30/mo
• Projected year-2 tax: $1,332 · $111/mo
• Expected delta: +$970/yr (+$81/mo · 267.8%)

ⓘ 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 5/10 Major 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: −$8,677
• − Property taxes: −$362
• − Insurance: −$774
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$4,506
• Taxable loss: −$460
• Est. tax savings @ 24.0%: +$110
• After-tax cash flow: $2,261/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 (Whitley County) Hauer SSP2

• Today (2025): 35,362 people
• By 2030: 34,807 · -1.6%
• By 2040: 33,525 · -5.2%
• By 2050: 32,550 · -8.0%
• By 2075: 29,555 · -16.4%
• By 2100: 24,308 · -31.3%

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 · Whitley

• 2024 margin: Solid R (+69.3) · D 14.8% · R 84.2% · Other 1.0%
• 2008→2024 swing: -21.7pp toward R · 2008: -47.7pp · 2024: -69.3pp
• All cycles: 2024: R+69.3 2020: R+65.2 2016: R+67.2 2012: R+57.8 2008: R+47.7

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

+113.7% since first listed

25 events — show timeline

• 2026-05-16 Pending — ImagineMLS
• 2026-05-06 Price Changed $154,900 ImagineMLS
• 2026-04-13 Price Changed $159,900 ImagineMLS
• 2026-01-13 Price Changed $164,900 ImagineMLS
• 2025-12-16 Price Changed $174,900 ImagineMLS
• 2025-12-02 Listed $179,900 ImagineMLS
• 2021-10-28 Sold (Public Records) $110,100 Public Records
• 2021-10-28 Sold (MLS) $110,100 ImagineMLS
• 2021-09-30 Pending — ImagineMLS
• 2021-09-17 Price Changed $109,900 ImagineMLS
• 2021-08-22 Listed $114,500 ImagineMLS
• 2014-03-20 Sold (MLS) $63,000 ImagineMLS
• 2014-03-07 Listing Removed — ImagineMLS
• 2013-10-30 Listed $69,900 ImagineMLS
• 2013-05-10 Listed $23,000 ImagineMLS
• 2013-05-10 Sold (MLS) $23,000 ImagineMLS
• 2013-05-10 Sold (MLS) $23,000 ImagineMLS
• 2013-05-10 Sold (MLS) $23,000 ImagineMLS
• 2013-04-01 Listing Removed — ImagineMLS
• 2013-03-26 Listed $23,000 ImagineMLS
• 2013-03-26 Listed $23,000 ImagineMLS
• 2009-09-30 Listing Removed — ImagineMLS
• 2009-03-14 Listed $84,900 ImagineMLS
• 2005-09-09 Sold (MLS) $72,000 ImagineMLS
• 2005-02-09 Listed $72,500 ImagineMLS

Property tax history

+2.8%/yr

Latest (2024): $362 · -3.8% YoY. Source: county tax records.