413 W 15th St · Corbin, KY 40701

$115,000

2 bd · 1.0 ba · 2,184 sqft · SingleFamily public records · 66 Days on market

6,969 sqft lot Est $216k · 47% 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 +15.2/30.0
• ARV discount +15.0/15.0
• Appreciation +5.9/10.0
• DSCR +4.7/10.0
• 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

If you're looking for a home within city limits that is conveniently located near shopping, dining, entertainment, and schools, this property may be just what you're looking for. This 2-bedroom, 1-bath home offers a great investment opportunity and features road parking. The home also includes a crawl space large enough for additional storage. Its central location provides easy access to everyday amenities and local attractions. Tenant occupied. Agent/Owner

Key facts

• Crawl space
• Central location
• 6,969 sq ft lot

Tags

• CRAWL SPACE
• CENTRAL LOCATION

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Single-story house
• Construction: Wood siding; Shingle roof; Other foundation; Built area approximately 1,092
• Exterior features: Few trees on the lot; Public water

Interior

• Kitchen: Refrigerator; Oven
• Bedrooms: 2 total rooms
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Window air conditioning unit(s)
• Interior features: Refrigerator; Oven
• Laundry & utility: Washer hookup; Electric dryer hookup

🏷️ Possibly a rental listed for sale. The $115,000 price doesn't fit this home's estimated sale value (~$216,216) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $40 ($479/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 $106k (8.1% below list).
• Recommended offer: $106k (8.1% 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 Elementary School (math 53% / reading 58%, grade C, #60 of 676 statewide, top 9%, 373 students, 61% 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 ($795 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 $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Recommended offer $105,656 (8.1% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 8% 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: 0.92% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.49%
• DSCR: 1.07
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $216,216
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1307 Roosevelt St	0.19mi	3/2.5 (+1)	2,100 (-4%)	16mo	$265,000	$126	61
1313 Roosevelt St	0.17mi	3/2.5 (+1)	1,916 (-12%)	2mo	$254,000	$133	59
805 Holly Ln	0.35mi	3/2.5 (+1)	2,431 (+11%)	14mo	$235,000	$97	42
911 W 8th St	0.62mi	3/2.0 (+1)	2,353 (+8%)	14mo	$205,000	$87	38
1507 Sherwood Dr	0.56mi	3/2.5 (+1)	2,080 (-5%)	23mo	$206,000	$99	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: 5.5%
• Equity multiple: 1.29×
• Total profit: $9,421
• Equity at exit: $44,271

10-year hold

• IRR: 9.1%
• Equity multiple: 2.22×
• Total profit: $39,146
• Equity at exit: $62,925

Cash invested: $32,200 (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: $1,057 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $40

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 91%

Sensitivity live

Price	-10% $119	-5% $80	+0% $40	+5% $0	+10% $-40
Rent	-10% $-44	-5% $-2	+0% $40	+5% $82	+10% $123
Rate	-1.0pp $98	-0.5pp $69	base $40	+0.5pp $10	+1.0pp $-20

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-12
   days on market $115,000 Active 66 DOM
2. 2026-06-09
   days on market $115,000 Active 63 DOM
3. 2026-06-08
   days on market $115,000 Active 62 DOM
4. 2026-06-07
   days on market $115,000 Active 61 DOM
5. 2026-06-04
   days on market $115,000 Active 57 DOM
6. 2026-06-02
   days on market $115,000 Active 56 DOM
7. 2026-06-01
   days on market $115,000 Active 55 DOM
8. 2026-05-31
   days on market $115,000 Active 54 DOM
9. 2026-05-31
   days on market $115,000 Active 53 DOM
10. 2026-04-07
    listed $120,000 Active
11. 2024-01-02
    soldstatus $151,500
12. 2021-10-22
    soldstatus $45,000

ⓘ 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 3/10 Moderate
• 🌡 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: $12,679
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,014
• − Management: −$1,014
• − Depreciation: −$3,345
• Taxable loss: −$1,437
• Est. tax savings @ 24.0%: +$345
• After-tax cash flow: $824/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

+166.7% since first listed

3 events — show timeline

• 2026-04-07 Listed $120,000 ImagineMLS
• 2024-01-02 Sold (Public Records) $151,500 Public Records
• 2021-10-22 Sold (Public Records) $45,000 Public Records

Property tax history

+10.8%/yr

Latest (2024): $148 · -3.8% YoY. Source: county tax records.