Real Estate Investing in Hi Hat, Kentucky (41604)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 41604 (Hi Hat, KY)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 27.3% of homes vacant — above national norms.
- Declining values: -8.1% 5-year CAGR — values have moved lower.
- 1-year downturn: Values declined 28.8% in the last year.
- Elevated poverty: 29.0% poverty rate — can affect rent collection.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hi Hat, KY (41604)?
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Market Analysis: 41604 Hi Hat
In Hi Hat's 41604 ZIP, the arithmetic favors hands-on owners. Median home values stands at $55K, leaving spread for capex-heavy BRRRR or reposition strategies.
Value-add is the defining thesis in 41604. Homes trade near $55K, well below the state median, and rehabbed comps tend to clear meaningfully higher — a classic forced-equity setup.
Comparing Hi Hat submarkets, ZIP 41604 offers an entry cost that most surrounding neighborhoods have moved past. The impressive delta is the opportunity.
The 41604 ZIP's demographic trend has been one of stability with upside — population of 496, steady renter share, and an incoming cohort that is willing to pay for improved units.
Experienced operators with contractor networks find 41604 a solid fit 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 Hi Hat:
Market Trends
Home Value History (with trend line)
📊 How Does 41604 Compare?
| Metric | 41604 | Hi Hat | Kentucky |
|---|---|---|---|
| Home Value | $55,166 | $54,300 | $225,788 |
| 5-Year CAGR | N/A | N/A | 6.9% |
| Avg Rent | $810 | $810 | - |
| Cap Rate | 11.5% | 11.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 41604 (Hi Hat, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $55,166 |
| Monthly Rent | $810 |
| Price-to-Rent | 5.7:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 17.6% |
| Cap Rate | 11.5% |
| 5-Year IRR | 3.3% |
📈 Home Appreciation
| 1-Year | -28.8% ▼ |
| 3-Year CAGR | -14.7% ▼ |
| 5-Year CAGR | -8.1% ▼ |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (11.5%) 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 41604
Population: 496
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 typical home price in Hi Hat, KY?
Median home price in Hi Hat, KY is near $55K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
Does a duplex house hack pencil in Hi Hat, KY?
House hacking in Hi Hat, KY is reasonable to execute. Prices around $55K and rents of $810/mo solid owner-occupant economics.
How close is Hi Hat, KY to meeting the 1% rule?
Hitting the 1% rule in Hi Hat, KY is realistic given the 1.47% average rent-to-price. Most value-add properties push well above that line.
What monthly rent should investors expect in Hi Hat, KY?
Hi Hat, KY rentals go for roughly $810/mo a month. That puts gross yield in solid territory relative to $55K acquisition costs.
Is BRRRR a fit for Hi Hat, KY?
Investors running BRRRR in Hi Hat, KY see a strong outcomes. Deal flow and rehab execution matter more than the macro here.
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