Real Estate Investing in Smilax, Kentucky (41764)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 41764 (Smilax, KY)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Elevated vacancy: 11.5% vacancy may signal weakening demand.
- Flat appreciation: Values have barely moved over 5 years (1.3% CAGR).
- 1-year downturn: Values declined 11.7% in the last year.
- Elevated poverty: 66.7% 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 Smilax, KY (41764)?
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Market Analysis: 41764 Smilax
In Smilax's 41764 ZIP, the arithmetic favors hands-on owners. Median home values registers $77K, leaving spread for capex-heavy BRRRR or reposition strategies.
The a strong candidate for angle here is forced equity, not market equity. ZIP 41764 rewards investors who can execute on scope, timeline, and tenant turnover.
In Leslie County, 41764 is part of the operational map, not the passive one. The spread between median price and renovated comp reflects the work available.
Demographically, 41764 is a working ZIP — not a luxury market. That profile is exactly what value-add operators need in order to price their renovated product correctly.
Experienced operators with contractor networks find 41764 a viable market 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 Smilax:
Market Trends
Home Value History (with trend line)
📊 How Does 41764 Compare?
| Metric | 41764 | Smilax | Kentucky |
|---|---|---|---|
| Home Value | $76,870 | $76,870 | $225,788 |
| 5-Year CAGR | 1.3% | 1.3% | 6.9% |
| Avg Rent | $783 | $783 | - |
| Cap Rate | 8.0% | 8.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 41764 (Smilax, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $76,870 |
| Monthly Rent | $783 |
| Price-to-Rent | 8.2:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 12.2% |
| Cap Rate | 8.0% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | -11.7% ▼ |
| 3-Year CAGR | -1.4% ▼ |
| 5-Year CAGR | +1.3% ▲ |
| 10-Year CAGR | +4.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (8.0%) 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 41764
Population: 471
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 41764
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
W B Muncy Elementary School
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 1,273 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What strategy should investors use in Smilax, KY?
In Smilax, KY the durable play is typically value-add and BRRRR deals. The combination of $77K prices and $783/mo rents suits that approach.
Is Smilax, KY a smart market for rental property?
Yes - Smilax, KY a 4.0/5 investability score. With $77K home prices against $783/mo monthly rent, the market delivers a reasonable entry point for new investors.
Can investors hit the 1% rule in Smilax, KY?
With rents of $783/mo on $77K homes, Smilax, KY close to the 1% rule for most properties. The actual rent-to-price ratio is 1.02%.
Can BRRRR investors find deals in Smilax, KY?
BRRRR viability in Smilax, KY is a strong. Disciplined acquisition and rehab can hit the 75% LTV refinance target at market comps.
What is the typical home price in Smilax, KY?
The median home value in Smilax, KY is roughly $77K. That puts it reasonable relative to the KY statewide average.
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