1398 Mckinley Ave · Corbin, KY 40701

$129,900

4 bd · 2.5 ba · 2,160 sqft · SingleFamily public records · 72 Days on market

10,018 sqft lot Est $214k · 39% under

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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 +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• Appreciation +5.9/10.0
• 1% rule +5.7/10.0
• 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

Brick home offers 4 bedrooms, 2 baths, living room, formal dining, back porch, appliances included, and Corbin City Schools.

Key facts

• 0.23 acre lot
• Garage
• Listed 72 days

Property features AI

Exterior

• Parking: Attached garage; Driveway; Has garage
• Utilities: Public sewer
• Home design: House
• Construction: Brick veneer exterior; Block foundation; 1,590 building area total
• Exterior features: Public water; Not on waterfront; No significant view

Interior

• Bedrooms: 3 total rooms
• Flooring: Carpet; Concrete; Vinyl
• Bathrooms: 2 full bathrooms
• Interior features: Unfinished basement; No fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 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; 65 units permitted in Whitley County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($898 loan paydown + $2k 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, 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 72 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.07% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.64%
• DSCR: 1.47
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $213,840
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1307 Roosevelt St	0.07mi	3/2.5 (-1)	2,100 (-3%)	16mo	$265,000	$126	74
1313 Roosevelt St	0.07mi	3/2.5 (-1)	1,916 (-11%)	2mo	$254,000	$133	71
805 Holly Ln	0.22mi	3/2.5 (-1)	2,431 (+12%)	14mo	$235,000	$97	52
1507 Sherwood Dr	0.50mi	3/2.5 (-1)	2,080 (-4%)	23mo	$206,000	$99	47
911 W 8th St	0.50mi	3/2.0 (-1)	2,353 (+9%)	14mo	$205,000	$87	44
600 Lee St	0.51mi	4/1.0	1,908 (-12%)	18mo	$159,900	$84	36
321 West 8th St	0.40mi	4/2.0	1,852 (-14%)	24mo	$309,900	$167	36

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: 14.5%
• Equity multiple: 1.78×
• Total profit: $28,244
• Equity at exit: $50,007

10-year hold

• IRR: 17.2%
• Equity multiple: 3.25×
• Total profit: $82,013
• Equity at exit: $71,078

Cash invested: $36,372 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,392 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$42 /mo · $503/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $323

Break-even live

Break-even rent $984

Max offer price $129,900

Occupancy floor 72%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-13
   status Pending
2. 2026-03-17
   price $129,900
3. 2026-02-27
   listed $144,900 Active
4. 2022-08-01
   historical
5. 2022-07-19
   price $190,000
6. 2022-07-12
   price $199,500
7. 2022-07-02
   price $210,000
8. 2022-05-24
   price $220,000
9. 2022-05-02
   listed $231,000 Active
10. 2021-09-13
    soldstatus $153,000 Closed 124-char remark

    Show marketing remark (124 chars)

    Brick home offers 4 bedrooms, 2 baths, living room, formal dining, back porch, appliances included, and Corbin City Schools.

11. 2021-09-13
    soldstatus $153,000

    Show marketing remark (124 chars)

    Brick home offers 4 bedrooms, 2 baths, living room, formal dining, back porch, appliances included, and Corbin City Schools.

12. 2021-08-11
    status Pending 124-char remark

    Show marketing remark (124 chars)

    Brick home offers 4 bedrooms, 2 baths, living room, formal dining, back porch, appliances included, and Corbin City Schools.

13. 2021-07-26
    price $179,900 124-char remark

    Show marketing remark (124 chars)

    Brick home offers 4 bedrooms, 2 baths, living room, formal dining, back porch, appliances included, and Corbin City Schools.

14. 2021-07-13
    listed $189,900 Active 124-char remark

    Show marketing remark (124 chars)

    Brick home offers 4 bedrooms, 2 baths, living room, formal dining, back porch, appliances included, and Corbin City Schools.

15. 2011-11-22
    soldstatus $87,500
16. 2011-10-16
    historical
17. 2010-12-08
    listed $104,900

ⓘ 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: $503 · $42/mo
• Projected year-2 tax: $1,117 · $93/mo
• Expected delta: +$614/yr (+$51/mo · 121.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°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: $16,707
• − Mortgage interest: −$7,276
• − Property taxes: −$503
• − Insurance: −$650
• − Repairs & maintenance: −$1,337
• − Management: −$1,337
• − Depreciation: −$3,779
• Taxable income: $1,826
• Est. tax owed @ 24.0%: −$438
• After-tax cash flow: $3,433/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

+23.8% since first listed

17 events — show timeline

• 2026-05-13 Pending — ImagineMLS
• 2026-03-17 Price Changed $129,900 ImagineMLS
• 2026-02-27 Listed $144,900 ImagineMLS
• 2022-08-01 Listing Removed — ImagineMLS
• 2022-07-19 Price Changed $190,000 ImagineMLS
• 2022-07-12 Price Changed $199,500 ImagineMLS
• 2022-07-02 Price Changed $210,000 ImagineMLS
• 2022-05-24 Price Changed $220,000 ImagineMLS
• 2022-05-02 Listed $231,000 ImagineMLS
• 2021-09-13 Sold (Public Records) $153,000 Public Records
• 2021-09-13 Sold (MLS) $153,000 ImagineMLS
• 2021-08-11 Pending — ImagineMLS
• 2021-07-26 Price Changed $179,900 ImagineMLS
• 2021-07-13 Listed $189,900 ImagineMLS
• 2011-11-22 Sold (MLS) $87,500 ImagineMLS
• 2011-10-16 Listing Removed — ImagineMLS
• 2010-12-08 Listed $104,900 ImagineMLS

Property tax history

+2.7%/yr

Latest (2024): $503 · -3.8% YoY. Source: county tax records.