Real Estate Investing in Evarts, Kentucky (40828)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 40828 (Evarts, 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 balanced market — moderate cash flow and moderate appreciation. A "steady" investor profile fits best.
- High vacancy: 18.5% of homes vacant — above national norms.
- 1-year downturn: Values declined 7.6% in the last year.
- Elevated poverty: 24.6% poverty rate — can affect rent collection.
- Lower household income: $32,578 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Evarts, KY (40828)?
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Market Analysis: 40828 Evarts
In Evarts's 40828 ZIP, the arithmetic favors hands-on owners. Median home values reports $62K, leaving spread for capex-heavy BRRRR or reposition strategies.
In 40828, the deal is made on the buy and on the capex. durable entry prices of $62K leave room in the budget for light-to-medium renovation, with rent lift to match.
Regionally, 40828 sits on the affordable end of the Harlan County map. Put differently, the absolute numbers are modest, the spread between acquisition price and post-rehab value is wider than in turnkey ZIPs.
Residents in 40828 skew younger than the county average, and that matters for rehab positioning. Younger renters respond to finishes, appliances, and in-unit laundry in ways that move rent.
Experienced operators with contractor networks find 40828 a strong candidate for. First-time flippers often underestimate scope, budget, and timeline, which is how deals here turn sour.
Here's what matters if you're considering buying a home in Evarts:
Property Strategy for 40828
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $47,459 | $1,090 | 16.5% | +16.6% | $23,729 |
| 3BR | $76,276 | $1,440 | 13.6% | +12.8% | $25,425 |
Market Trends
Home Value History (with trend line)
📊 How Does 40828 Compare?
| Metric | 40828 | Evarts | Kentucky |
|---|---|---|---|
| Home Value | $62,288 | $57,339 | $225,788 |
| 5-Year CAGR | 8.0% | 9.8% | 6.9% |
| Avg Rent | $981 | $981 | - |
| Cap Rate | 12.3% | 13.4% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 40828 (Evarts, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $62,288 |
| Monthly Rent | $981 |
| Price-to-Rent | 5.3:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 18.9% |
| Cap Rate | 12.3% |
| 5-Year IRR | 20.2% |
📈 Home Appreciation
| 1-Year | -7.6% ▼ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +8.0% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (12.3%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 40828
Population: 4,431
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
🎓 Schools in 40828
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,446 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Does Evarts, KY make sense for an investment property?
Evarts, KY reports an investability rating of 5.0/5, with median home values near $62K and average rents around $981/mo. That combination puts it in the resilient tier for investor interest.
How much should I expect to pay for a home in Evarts, KY?
Evarts, KY median home values land near $62K. That is reasonable territory for investors looking at $981/mo-per-month rentals.
What are rental rates like in Evarts, KY?
Rents in Evarts, KY run near $981/mo. Compared with median home prices of $62K that produces solid gross yields for typical rentals.
Is Evarts, KY good for house hacking?
Evarts, KY offers an attractive house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $981/mo rent level.
Which real estate strategy fits Evarts, KY?
Evarts, KY investors pursuing value-add and BRRRR deals. The underlying economics ($62K prices, $981/mo rents) make it a reasonable choice.
You know 40828 now. You don’t know where it ranks.
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