Real Estate Investing in Simpsonville, Kentucky (40023)
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Should you buy in 40023 (Simpsonville, KY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 30.0 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Simpsonville, KY (40023)?
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Market Analysis: 40023 Simpsonville
ZIP 40023 in Simpsonville, KY carries a impressive set of headwinds. Home values near $553K and rents of $1,539/mo sit inside a market where underwriting has to be tight.
The investment case in 40023 is significant only for operators who understand what they are buying. A $553K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
The gap between 40023 and stronger Simpsonville ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The 40023 ZIP's population of 6,484 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
Strategically, 40023 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Simpsonville:
Property Strategy for 40023
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $459,954 | $2,190 | 3.4% | +6.4% | $153,318 |
| 4BR | $575,435 | $2,540 | 3.2% | +6.2% | $143,859 |
Market Trends
Home Value History (with trend line)
📊 How Does 40023 Compare?
| Metric | 40023 | Simpsonville | Kentucky |
|---|---|---|---|
| Home Value | $553,390 | $480,788 | $225,788 |
| 5-Year CAGR | 5.0% | 4.3% | 6.9% |
| Avg Rent | $1,539 | $1,391 | - |
| Cap Rate | 2.2% | 2.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 40023 (Simpsonville, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $553,390 |
| Monthly Rent | $1,539 |
| Price-to-Rent | 30.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.3% |
| Cap Rate | 2.2% |
| 5-Year IRR | 7.2% |
📈 Home Appreciation
| 1-Year | +6.9% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 40023
Population: 6,484
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 the average home sale price in Simpsonville, KY?
Typical homes in Simpsonville, KY go for around $553K. The 5-year CAGR of 0.0% steady price movement.
Is rental property easy to operate in Simpsonville, KY?
Landlord-friendliness in Simpsonville, KY is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is it easy to find good tenants in Simpsonville, KY?
The renter base in Simpsonville, KY is reasonable for the $1,539/mo price point. Screening well and pricing to market typically yields reliable tenants.
Is house hacking profitable in Simpsonville, KY?
House hacking works a challenging in Simpsonville, KY. Rents of $1,539/mo against $553K acquisition make the strategy solid for owner-occupants.
What is the typical rental rate in Simpsonville, KY?
Investors in Simpsonville, KY typically see rents near $1,539/mo per month against $553K home values - a solid setup for rental cash flow.
You know 40023 now. You don’t know where it ranks.
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How 40023 ranks in Louisville/Jefferson County, KY-IN
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