940 Old Corbin Pike Rd · Williamsburg, KY 40769

$99,900

3 bd · 1.5 ba · 1,444 sqft · SingleFamily public records · 42 Days on market

Built 1958 $69/sqft · 47% below area Est $137k · 27% under ↓ 17% since listing

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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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Appreciation +4.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

If you’ve been waiting for an affordable property with land and room to make it your own, this might be the one. Sitting on nearly an acre, this 3 bedroom, 2 bath home offers space, flexibility, and the chance to build equity with a little vision and effort. Inside, you’ll find over 1,000 square feet on the main level, plus additional space in the basement that opens the door for extra bedrooms, storage, or a hobby area. The layout gives you a solid starting point, while the lot gives you room to breathe, something that’s hard to find at this price point. This home will need updates, including cosmetics, windows, and HVAC, and the roof is nearing the end of its life. With that said, it’s priced accordingly and offers a great opportunity for investors, flippers, or buyers looking to create something of their own over time. Whether you’re looking for a project, a rental, or a place to put your personal touch, this one is full of potential and ready for its next chapter.

Key facts

• Nearly an acre
• Extra bedrooms
• Hobby area

Tags

• NEARLY AN ACRE
• EXTRA BEDROOMS
• HOBBY AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.9% in Williamsburg — 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 (#168 in KY) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: amenities F, commute F, employment F.
• Williamsburg Independent (town): math 19% / reading 38% proficiency, ranked #126 of 165 in KY (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 94 active listings in the ZIP; 65 units permitted in Whitley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.7%/yr); year-one equity from $691 of loan paydown is wiped out by about $740 of value loss. Plan a longer hold.
• Whitley County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.7% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

• ARV (median comp): $137,095
• List price: $99,900
• Delta: -27.13%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
991 Old Corbin Pike Rd	0.09mi	3/1.0	1,536 (+6%)	3mo	$175,000	$114	80
60 Edgewood Dr	0.48mi	3/2.0	1,517 (+5%)	12mo	$290,000	$191	57
757 Old Corbin Pike Rd	0.22mi	2/1.0 (-1)	1,600 (+11%)	12mo	$142,000	$89	55
61 Windy Hill Ln	0.43mi	3/1.5	1,260 (-13%)	10mo	$155,000	$123	50
68 Lindenberg Dr	0.36mi	2/1.0 (-1)	1,248 (-14%)	15mo	$82,500	$66	41

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

Projected returns pro-forma

-0.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.18×
• Total profit: $4,977
• Equity at exit: $25,363

10-year hold

• IRR: 10.1%
• Equity multiple: 2.01×
• Total profit: $28,324
• Equity at exit: $27,713

Cash invested: $27,972 (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 40769

• Home prices YoY: -0.5%
• Active inventory: 94
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $178

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 79%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-01
   status $99,900 Pending 42 DOM
2. 2026-06-01
   days on market $99,900 Active 42 DOM
3. 2026-05-31
   days on market $99,900 Active 41 DOM
4. 2026-05-31
   days on market $99,900 Active 40 DOM
5. 2026-05-08
   price $99,900 1012-char remark

   Show marketing remark (1012 chars)

   If you’ve been waiting for an affordable property with land and room to make it your own, this might be the one. Sitting on nearly an acre, this 3 bedroom, 2 bath home offers space, flexibility, and the chance to build equity with a little vision and effort. Inside, you’ll find over 1,000 square feet on the main level, plus additional space in the basement that opens the door for extra bedrooms, storage, or a hobby area. The layout gives you a solid starting point, while the lot gives you room to breathe, something that’s hard to find at this price point. This home will need updates, including cosmetics, windows, and HVAC, and the roof is nearing the end of its life. With that said, it’s priced accordingly and offers a great opportunity for investors, flippers, or buyers looking to create something of their own over time. Whether you’re looking for a project, a rental, or a place to put your personal touch, this one is full of potential and ready for its next chapter.

6. 2026-04-29
   price $110,000 1012-char remark

   Show marketing remark (1012 chars)

   If you’ve been waiting for an affordable property with land and room to make it your own, this might be the one. Sitting on nearly an acre, this 3 bedroom, 2 bath home offers space, flexibility, and the chance to build equity with a little vision and effort. Inside, you’ll find over 1,000 square feet on the main level, plus additional space in the basement that opens the door for extra bedrooms, storage, or a hobby area. The layout gives you a solid starting point, while the lot gives you room to breathe, something that’s hard to find at this price point. This home will need updates, including cosmetics, windows, and HVAC, and the roof is nearing the end of its life. With that said, it’s priced accordingly and offers a great opportunity for investors, flippers, or buyers looking to create something of their own over time. Whether you’re looking for a project, a rental, or a place to put your personal touch, this one is full of potential and ready for its next chapter.

7. 2026-04-18
   listed $119,900 Active 1012-char remark

   Show marketing remark (1012 chars)

   If you’ve been waiting for an affordable property with land and room to make it your own, this might be the one. Sitting on nearly an acre, this 3 bedroom, 2 bath home offers space, flexibility, and the chance to build equity with a little vision and effort. Inside, you’ll find over 1,000 square feet on the main level, plus additional space in the basement that opens the door for extra bedrooms, storage, or a hobby area. The layout gives you a solid starting point, while the lot gives you room to breathe, something that’s hard to find at this price point. This home will need updates, including cosmetics, windows, and HVAC, and the roof is nearing the end of its life. With that said, it’s priced accordingly and offers a great opportunity for investors, flippers, or buyers looking to create something of their own over time. Whether you’re looking for a project, a rental, or a place to put your personal touch, this one is full of potential and ready for its next chapter.

ⓘ 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 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,184
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$2,906
• Taxable income: $574
• Est. tax owed @ 24.0%: −$138
• After-tax cash flow: $1,993/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: Williamsburg Independent
• NCES district ID: 2105910
• Math proficiency: 19% ▼ -19.00%
• Reading proficiency: 38% ▼ -22.00%
• Median HH income: $31,586
• Composite: 23.12/100
• National rank: #7957
• State rank: #126 of 165 in KY

Livability — Williamsburg

• Score: 69/100
• State rank: #168
• US rank: #8601

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Williamsburg, KY
• Population (ZIP): 17,931

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 2% Black 2%
• Common ancestry: Serbian 2% Romanian 1% Italian 1%
• Foreign-born: 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: ▼ -0.74%
• Current HPI: 163.6801
• 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

-16.7% since first listed

3 events — show timeline

• 2026-05-08 Price Changed $99,900 GORAMLS
• 2026-04-29 Price Changed $110,000 GORAMLS
• 2026-04-18 Listed $119,900 GORAMLS

Property tax history

+4.9%/yr

Latest (2024): $160 · -14.1% YoY. Source: county tax records.