508 College St · Corbin, KY 40701

$149,000

3 bd · 1.0 ba · 1,494 sqft · SingleFamily public records · 61 Days on market

Built 1930 6,534 sqft lot Est $163k · 9% 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 +20.7/30.0
• ARV discount +11.3/15.0
• DSCR +6.6/10.0
• Appreciation +5.9/10.0
• 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 MLS

Charming Fixer-Upper in Prime Location - Corbin, KY Located on College Street, just a short walk from downtown Corbin, this property is bursting with potential. Featuring a fenced yard and a detached garage/storage area, this home offers a great canvas for your next renovation project. Whether you're looking for a flip or a rental investment, this property has plenty of upside. The house is in need of a full renovation, making it an ideal opportunity to create a personalized living space or add value for future returns. Don't miss out on this promising investment in a desirable neighborhood!

Key facts

• 6,534 sq ft lot
• Garage
• Built 1930

Property features AI

Exterior

• Parking: Has garage; Carport
• Utilities: Public sewer
• Home design: One level
• Construction: Built on block and slab foundation; Vinyl siding; Shingle roof; Building area about 1,454 total
• Exterior features: Public water; Not on waterfront; Lot recorded in public records; Lot approximately 0.15 acres

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Laminate flooring; No fireplace; 8 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $137 ($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 (7.7% below list).
• Recommended offer: $138k (7.7% below list) — sets the bar for 1% rule.

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 $4k of equity ($1k loan paydown + $3k 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 $42k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $16k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $149k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,500 (7.7% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $162,846
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
222 Hawe St	0.28mi	3/2.0	1,496 (+0%)	4mo	$210,000	$140	79
611 Caldwell St	0.15mi	3/1.0	1,579 (+6%)	12mo	$41,290	$26	73
205 Nelson St	0.33mi	3/2.0	1,568 (+5%)	6mo	$25,000	$16	67
307 Ford St	0.20mi	3/1.5	1,375 (-8%)	11mo	$150,000	$109	66
302 South S Laurel Ave	0.37mi	3/1.0	1,414 (-5%)	17mo	$60,000	$42	60
149 Hawe St	0.34mi	4/2.0 (+1)	1,400 (-6%)	7mo	$204,000	$146	59
409 Florence Ave	0.33mi	3/2.0	1,584 (+6%)	14mo	$126,000	$80	58
214 W Center St	0.58mi	4/2.0 (+1)	1,410 (-6%)	3mo	$179,900	$128	52
201 Padgett St St	0.64mi	3/1.0	1,333 (-11%)	1mo	$145,000	$109	52
304 South Poplar Ave	0.68mi	2/1.0 (-1)	1,472 (-2%)	12mo	$143,000	$97	50
1082 N Beatty Ave	0.40mi	3/2.0	1,680 (+12%)	8mo	$207,500	$124	49
106 W Greendale St	0.52mi	3/2.0	1,304 (-13%)	8mo	$240,000	$184	44

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: 7.9%
• Equity multiple: 1.42×
• Total profit: $17,566
• Equity at exit: $57,359

10-year hold

• IRR: 11.3%
• Equity multiple: 2.49×
• Total profit: $62,151
• Equity at exit: $81,529

Cash invested: $41,720 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$40 /mo · $476/yr
• Insurance: −$62
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $137

Break-even live

Break-even rent $1,202

Max offer price $149,000

Occupancy floor 85%

Sensitivity live

Price	-10% $221	-5% $179	+0% $137	+5% $95	+10% $52
Rent	-10% $28	-5% $82	+0% $137	+5% $191	+10% $245
Rate	-1.0pp $212	-0.5pp $175	base $137	+0.5pp $98	+1.0pp $59

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: $37,250
• Closing costs: $4,470
• 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	1.19mi

Listing history 25 events

1. 2026-06-21
   days on market $149,000 Active 61 DOM
2. 2026-06-21
   days on market $149,000 Active 60 DOM
3. 2026-06-18
   days on market $149,000 Active 58 DOM
4. 2026-06-17
   days on market $149,000 Active 57 DOM
5. 2026-06-16
   days on market $149,000 Active 56 DOM
6. 2026-06-15
   days on market $149,000 Active 55 DOM
7. 2026-06-13
   days on market $149,000 Active 53 DOM
8. 2026-06-12
   days on market $149,000 Active 52 DOM
9. 2026-06-09
   days on market $149,000 Active 49 DOM
10. 2026-06-08
    days on market $149,000 Active 48 DOM
11. 2026-06-07
    pricedays on market $149,000 Active 47 DOM
12. 2026-06-04
    days on market $159,000 Active 43 DOM
13. 2026-06-02
    days on market $159,000 Active 42 DOM
14. 2026-06-01
    days on market $159,000 Active 41 DOM
15. 2026-05-31
    days on market $159,000 Active 40 DOM
16. 2026-05-31
    days on market $159,000 Active 39 DOM
17. 2026-05-20
    price $159,000
18. 2026-04-17
    listed $165,000 Active
19. 2025-10-17
    soldstatus $64,000 Closed
20. 2025-09-21
    historical Contingent
21. 2025-09-21
    listed $64,000 Active
22. 2024-10-04
    soldstatus $55,000 Closed 599-char remark

    Show marketing remark (599 chars)

    Charming Fixer-Upper in Prime Location - Corbin, KY Located on College Street, just a short walk from downtown Corbin, this property is bursting with potential. Featuring a fenced yard and a detached garage/storage area, this home offers a great canvas for your next renovation project. Whether you're looking for a flip or a rental investment, this property has plenty of upside. The house is in need of a full renovation, making it an ideal opportunity to create a personalized living space or add value for future returns. Don't miss out on this promising investment in a desirable neighborhood!

23. 2024-10-04
    soldstatus $55,000

    Show marketing remark (599 chars)

    Charming Fixer-Upper in Prime Location - Corbin, KY Located on College Street, just a short walk from downtown Corbin, this property is bursting with potential. Featuring a fenced yard and a detached garage/storage area, this home offers a great canvas for your next renovation project. Whether you're looking for a flip or a rental investment, this property has plenty of upside. The house is in need of a full renovation, making it an ideal opportunity to create a personalized living space or add value for future returns. Don't miss out on this promising investment in a desirable neighborhood!

24. 2024-09-27
    status Pending 599-char remark

    Show marketing remark (599 chars)

    Charming Fixer-Upper in Prime Location - Corbin, KY Located on College Street, just a short walk from downtown Corbin, this property is bursting with potential. Featuring a fenced yard and a detached garage/storage area, this home offers a great canvas for your next renovation project. Whether you're looking for a flip or a rental investment, this property has plenty of upside. The house is in need of a full renovation, making it an ideal opportunity to create a personalized living space or add value for future returns. Don't miss out on this promising investment in a desirable neighborhood!

25. 2024-09-26
    listed $58,000 Active 599-char remark

    Show marketing remark (599 chars)

    Charming Fixer-Upper in Prime Location - Corbin, KY Located on College Street, just a short walk from downtown Corbin, this property is bursting with potential. Featuring a fenced yard and a detached garage/storage area, this home offers a great canvas for your next renovation project. Whether you're looking for a flip or a rental investment, this property has plenty of upside. The house is in need of a full renovation, making it an ideal opportunity to create a personalized living space or add value for future returns. Don't miss out on this promising investment in a desirable neighborhood!

ⓘ 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: $476 · $40/mo
• Projected year-2 tax: $1,281 · $107/mo
• Expected delta: +$805/yr (+$67/mo · 169.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 21 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: −$8,346
• − Property taxes: −$476
• − Insurance: −$1,542
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$4,335
• Taxable loss: −$839
• Est. tax savings @ 24.0%: +$201
• After-tax cash flow: $1,842/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

+174.1% since first listed

9 events — show timeline

• 2026-05-20 Price Changed $159,000 ImagineMLS
• 2026-04-17 Listed $165,000 ImagineMLS
• 2025-10-17 Sold (MLS) $64,000 ImagineMLS
• 2025-09-21 Contingent — ImagineMLS
• 2025-09-21 Listed $64,000 ImagineMLS
• 2024-10-04 Sold (Public Records) $55,000 Public Records
• 2024-10-04 Sold (MLS) $55,000 ImagineMLS
• 2024-09-27 Pending — ImagineMLS
• 2024-09-26 Listed $58,000 ImagineMLS

Property tax history

+13.6%/yr

Latest (2025): $476 · +95.7% YoY. Source: county tax records.