Real Estate Investing in Pilgrim, Kentucky (41231)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 41231 (Pilgrim, KY)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 12.0% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (0.9% CAGR).
- 1-year downturn: Values declined 14.0% in the last year.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Pilgrim, KY (41231)?
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Market Analysis: 41231 Pilgrim
ZIP 41231 in Pilgrim, KY carries a significant set of headwinds. Home values near $91K and rents of $783/mo sit inside a market where underwriting has to be tight.
Distressed markets are won on execution, not on spreadsheets. ZIP 41231 records the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Pilgrim have seen price recovery that 41231 has not matched. Martin County data supports the view that the spread is structural rather than temporary.
Looking more closely, 1,127 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Distressed ZIPs reward experience. sturdy returns are possible in 41231, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Pilgrim:
Market Trends
Home Value History (with trend line)
📊 How Does 41231 Compare?
| Metric | 41231 | Pilgrim | Kentucky |
|---|---|---|---|
| Home Value | $90,750 | $89,371 | $225,788 |
| 5-Year CAGR | 0.9% | 2.5% | 6.9% |
| Avg Rent | $783 | $819 | - |
| Cap Rate | 6.7% | 7.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 41231 (Pilgrim, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $90,750 |
| Monthly Rent | $783 |
| Price-to-Rent | 9.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.4% |
| Cap Rate | 6.7% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | -14.0% ▼ |
| 3-Year CAGR | -0.3% ▼ |
| 5-Year CAGR | +0.9% ▲ |
| 10-Year CAGR | +3.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.7%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 41231
Population: 1,127
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is it like being a landlord in Pilgrim, KY?
Rental owners in Pilgrim, KY deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Can I live-in-and-rent in Pilgrim, KY?
House hacking in Pilgrim, KY is reasonable to execute. Prices around $91K and rents of $783/mo solid owner-occupant economics.
What is the typical renter like in Pilgrim, KY?
Expect a solid tenant pool in Pilgrim, KY. The rental market absorbs $783/mo rents without meaningful friction.
What do landlords charge for rent in Pilgrim, KY?
Rental rates in Pilgrim, KY average $783/mo. Tenant demand and $91K home values make the yield look reasonable by investor standards.
What are home prices like in Pilgrim, KY?
Expect median prices around $91K in Pilgrim, KY. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
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