316 W 1st St · Corbin, KY 40701

$149,900

2 bd · 1.0 ba · 1,086 sqft · SingleFamily public records · 7 Days on market

6,098 sqft lot Est $156k · at est.

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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 +15.1/30.0
• ARV discount +9.4/15.0
• Appreciation +5.9/10.0
• DSCR +4.6/10.0
• 1% rule +4.2/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Main character energy meets small-town charm in this adorable downtown Corbin cottage! Perched above the city, the welcoming front porch is the perfect spot to enjoy your morning coffee, unwind after work, or take in the views of the town below. Step inside and you'll find a surprisingly open layout filled with cozy character and inviting spaces. This 2-bedroom, 1-bath home features a comfortable living area, functional kitchen, and dedicated utility room—all designed for easy living. Located on the corner of W 1st Street and Padgett Street, you'll love being just minutes from downtown Corbin's favorite restaurants, coffee shops, local boutiques, parks, and entertainment hotspots. Whe

Key facts

• Functional kitchen
• Open layout
• 6,098 sq ft lot

Tags

• WELCOMING FRONT PORCH
• OPEN LAYOUT
• FUNCTIONAL KITCHEN
• DEDICATED UTILITY ROOM
• MINUTES FROM DOWNTOWN

Property features AI

Finance

• Other: Located in the City Limits subdivision; Parcel number 137-41-01-001.00

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Single-story house
• Construction: Vinyl siding; Block foundation; Shingle roof; Built area approximately 1,086 (building area)
• Exterior features: Garden; Few trees; Neighborhood view

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump; Natural gas heating; Electric cooling
• Interior features: Primary bedroom on the first floor; Ceiling fans; Blinds
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $50 ($604/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 (8.3% below list).
• Recommended offer: $138k (8.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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 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 $42k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $89k; list at $150k implies a 68% gain — meaningful room to come down on a strong offer.

Recommended offer $137,500 (8.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.92% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.44%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $156,384
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 W 3rd St	0.10mi	2/1.0	1,036 (-5%)	9mo	$92,000	$89	80
504 W 3rd St	0.11mi	3/1.0 (+1)	1,020 (-6%)	6mo	$65,000	$64	74
207 W Center St	0.18mi	3/1.0 (+1)	1,140 (+5%)	9mo	$100,000	$88	71
49 Creekside Ln	0.47mi	3/2.0 (+1)	1,084 (-0%)	1mo	$198,000	$183	68
320 W 8th Street St	0.33mi	2/2.0	1,040 (-4%)	10mo	$107,000	$103	65
7 Gilliam St	0.08mi	3/2.0 (+1)	1,176 (+8%)	11mo	$175,000	$149	64
908 W 5th Street St	0.45mi	2/1.0	1,014 (-7%)	10mo	$137,400	$136	59
502 Chestnut St	0.32mi	3/2.0 (+1)	1,212 (+12%)	6mo	$175,000	$144	52
206 Hamlin Ave	0.67mi	3/1.0 (+1)	1,160 (+7%)	1mo	$110,000	$95	51
507 Caldwell St	0.68mi	3/1.0 (+1)	1,104 (+2%)	12mo	$166,200	$151	51
913 W 8th St	0.52mi	3/2.0 (+1)	1,244 (+14%)	10mo	$225,900	$182	34
131 Reasor St	0.61mi	3/2.0 (+1)	1,233 (+14%)	9mo	$280,000	$227	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: 5.4%
• Equity multiple: 1.29×
• Total profit: $12,170
• Equity at exit: $57,706

10-year hold

• IRR: 9.1%
• Equity multiple: 2.21×
• Total profit: $50,786
• Equity at exit: $82,021

Cash invested: $41,972 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $50

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 91%

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: $37,475
• Closing costs: $4,497
• 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	0.46mi

Listing history 7 events

1. 2026-06-18
   days on market $149,900 Active 7 DOM
2. 2026-06-17
   days on market $149,900 Active 6 DOM
3. 2026-06-16
   days on market $149,900 Active 5 DOM
4. 2026-06-15
   days on market $149,900 Active 4 DOM
5. 2026-06-13
   days on market $149,900 Active 2 DOM
6. 2026-06-12
   remarks 693-char remark
7. 2026-06-12
   listed $149,900 Active 1 DOM

ⓘ 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,500
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$4,361
• Taxable loss: −$1,895
• Est. tax savings @ 24.0%: +$455
• After-tax cash flow: $1,059/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

+318.7% since first listed

4 events — show timeline

• 2026-06-11 Listed $149,900 ImagineMLS
• 2021-08-02 Sold (Public Records) $89,000 Public Records
• 2021-02-26 Sold (Public Records) $35,800 Public Records
• 2008-05-19 Sold (Public Records) $35,800 Public Records

Property tax history

+7.1%/yr

Latest (2024): $293 · -3.8% YoY. Source: county tax records.