222 Hamlin Ave · Corbin, KY 40701

$59,900

2 bd · 1.0 ba · 986 sqft · SingleFamily public records · 37 Days on market

Built 1940 0.60 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• 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

Home offers 2 bedrooms, 1.5 baths, carport, formal dining room, and large lot in city limits.

Key facts

• Covered porch
• Carport
• 0.6 acre lot

Tags

• COVERED PORCH
• CARPORT
• APPROXIMATELY 0.6 ACRES

Property features AI

Exterior

• Parking: Attached carport; Driveway; Carport present
• Utilities: Public water; Public sewer
• Home design: One-story house
• Construction: Aluminum siding
• Exterior features: Block foundation

Interior

• Kitchen: Microwave; Refrigerator; Range
• Bedrooms: 6 total rooms (including bedrooms)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Microwave; Refrigerator; Range

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($943 rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 3.4% 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: 331 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($414 loan paydown + $1k 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1940 — 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. 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. 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.
6. 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.
7. 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: 1.57% ✓
• Cap rate: 13.63%
• Cash-on-cash: 26.19%
• DSCR: 2.17
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $123,250
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
231 Hatfield St	0.09mi	3/1.0 (+1)	1,018 (+3%)	12mo	$158,762	$156	76
95 East Cypress St	0.44mi	3/1.0 (+1)	1,000 (+1%)	22mo	$62,000	$62	54
603 South Poplar Ave	0.63mi	2/1.0	961 (-2%)	16mo	$120,000	$125	53
310 Ruby St	0.28mi	3/1.0 (+1)	856 (-13%)	9mo	$50,000	$58	52
231 Wilson St	0.13mi	1/1.0 (-1)	840 (-15%)	18mo	$119,000	$142	49
507 Caldwell St	0.40mi	3/1.0 (+1)	1,104 (+12%)	12mo	$166,200	$151	46
64 Beech Tree Ln Ln	0.63mi	2/2.0	1,080 (+10%)	9mo	$179,900	$167	43
602 Caldwell St	0.42mi	3/2.0 (+1)	1,117 (+13%)	21mo	$75,000	$67	32
818 South Poplar Ave	0.66mi	2/1.0	1,104 (+12%)	23mo	$75,000	$68	30

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: 30.0%
• Equity multiple: 2.60×
• Total profit: $26,883
• Equity at exit: $23,059

10-year hold

• IRR: 31.6%
• Equity multiple: 5.04×
• Total profit: $67,779
• Equity at exit: $32,776

Cash invested: $16,772 (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: 5.3×

Monthly cashflow live

• Estimated rent: $943 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$40 /mo · $476/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $366

Break-even live

Break-even rent $479

Max offer price $59,900

Occupancy floor 56%

Sensitivity live

Price	-10% $400	-5% $383	+0% $366	+5% $349	+10% $332
Rent	-10% $292	-5% $329	+0% $366	+5% $403	+10% $441
Rate	-1.0pp $396	-0.5pp $381	base $366	+0.5pp $351	+1.0pp $335

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-15
   statusdays on market $59,900 Pending 37 DOM
2. 2026-06-13
   days on market $59,900 Active 36 DOM
3. 2026-06-12
   days on market $59,900 Active 35 DOM
4. 2026-06-09
   days on market $59,900 Active 32 DOM
5. 2026-06-08
   days on market $59,900 Active 31 DOM
6. 2026-06-07
   days on market $59,900 Active 30 DOM
7. 2026-06-04
   days on market $59,900 Active 26 DOM
8. 2026-06-02
   days on market $59,900 Active 25 DOM
9. 2026-06-01
   days on market $59,900 Active 24 DOM
10. 2026-05-31
    days on market $59,900 Active 23 DOM
11. 2026-05-31
    remarks 574-char remark
12. 2026-05-31
    status $59,900 Active 22 DOM
13. 2026-05-08
    status Pending
14. 2026-04-14
    listed $59,900 Active
15. 2022-07-08
    soldstatus $95,000 Closed 93-char remark

    Show marketing remark (93 chars)

    Home offers 2 bedrooms, 1.5 baths, carport, formal dining room, and large lot in city limits.

16. 2022-07-08
    soldstatus $95,000

    Show marketing remark (93 chars)

    Home offers 2 bedrooms, 1.5 baths, carport, formal dining room, and large lot in city limits.

17. 2022-06-06
    historical Contingent 93-char remark

    Show marketing remark (93 chars)

    Home offers 2 bedrooms, 1.5 baths, carport, formal dining room, and large lot in city limits.

18. 2022-05-11
    status Active 93-char remark

    Show marketing remark (93 chars)

    Home offers 2 bedrooms, 1.5 baths, carport, formal dining room, and large lot in city limits.

19. 2022-03-26
    historical Contingent 93-char remark

    Show marketing remark (93 chars)

    Home offers 2 bedrooms, 1.5 baths, carport, formal dining room, and large lot in city limits.

20. 2022-03-15
    status Active 93-char remark

    Show marketing remark (93 chars)

    Home offers 2 bedrooms, 1.5 baths, carport, formal dining room, and large lot in city limits.

21. 2022-02-19
    historical Contingent 93-char remark

    Show marketing remark (93 chars)

    Home offers 2 bedrooms, 1.5 baths, carport, formal dining room, and large lot in city limits.

22. 2022-02-14
    status Active 93-char remark

    Show marketing remark (93 chars)

    Home offers 2 bedrooms, 1.5 baths, carport, formal dining room, and large lot in city limits.

23. 2022-01-29
    status Pending 93-char remark

    Show marketing remark (93 chars)

    Home offers 2 bedrooms, 1.5 baths, carport, formal dining room, and large lot in city limits.

24. 2022-01-27
    listed $99,900 Active 93-char remark

    Show marketing remark (93 chars)

    Home offers 2 bedrooms, 1.5 baths, carport, formal dining room, and large lot in city limits.

25. 2009-01-31
    historical
26. 2008-09-23
    listed $62,900
27. 2008-08-31
    historical
28. 2008-02-21
    listed $69,500
29. 2008-02-08
    historical
30. 2007-08-10
    listed $72,500
31. 1979-08-01
    soldstatus $18,500

ⓘ 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: $476 · $40/mo
• Projected year-2 tax: $515 · $43/mo
• Expected delta: +$39/yr (+$3/mo · 8.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 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: $11,314
• − Mortgage interest: −$3,355
• − Property taxes: −$476
• − Insurance: −$300
• − Repairs & maintenance: −$905
• − Management: −$905
• − Depreciation: −$1,743
• Taxable income: $3,630
• Est. tax owed @ 24.0%: −$871
• After-tax cash flow: $3,522/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

+223.8% since first listed

19 events — show timeline

• 2026-05-08 Pending — ImagineMLS
• 2026-04-14 Listed $59,900 ImagineMLS
• 2022-07-08 Sold (Public Records) $95,000 Public Records
• 2022-07-08 Sold (MLS) $95,000 ImagineMLS
• 2022-06-06 Contingent — ImagineMLS
• 2022-05-11 Relisted — ImagineMLS
• 2022-03-26 Contingent — ImagineMLS
• 2022-03-15 Relisted — ImagineMLS
• 2022-02-19 Contingent — ImagineMLS
• 2022-02-14 Relisted — ImagineMLS
• 2022-01-29 Pending — ImagineMLS
• 2022-01-27 Listed $99,900 ImagineMLS
• 2009-01-31 Listing Removed — ImagineMLS
• 2008-09-23 Listed $62,900 ImagineMLS
• 2008-08-31 Listing Removed — ImagineMLS
• 2008-02-21 Listed $69,500 ImagineMLS
• 2008-02-08 Listing Removed — ImagineMLS
• 2007-08-10 Listed $72,500 ImagineMLS
• 1979-08-01 Sold (Public Records) $18,500 Public Records

Property tax history

+10.0%/yr

Latest (2025): $476 · +0.2% YoY. Source: county tax records.