Real Estate Investing in Fleming-Neon, Kentucky (41840)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 41840 (Fleming-Neon, 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: 24.7% of homes vacant — above national norms.
- Declining values: -4.0% 5-year CAGR — values have moved lower.
- 1-year downturn: Values declined 26.8% 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 Fleming-Neon, KY (41840)?
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Market Analysis: 41840 Fleming-Neon
Within Letcher County, the 41840 ZIP records a lower entry point around $52K. Meanwhile, operators who can improve stock here typically see outsized uplift.
Investors in 41840 do not buy the market average — they buy the unit they can improve. $52K median pricing and $783/mo comps define the envelope within which the work has to pay.
Across KY, value-add opportunity tends to concentrate where housing stock is older and entry prices are below the state median. ZIP 41840 registers both traits clearly.
The an appealing option for angle on demographics here is renter willingness to pay a premium for renovated product. The 20% rental share provides scale for the strategy.
BRRRR is the most natural fit. Buy under $52K, rehab, refinance, and the capital recycles in a way turnkey markets cannot replicate.
Here's what matters if you're considering buying a home in Fleming-Neon:
Market Trends
Home Value History (with trend line)
📊 How Does 41840 Compare?
| Metric | 41840 | Fleming-Neon | Kentucky |
|---|---|---|---|
| Home Value | $52,005 | $52,005 | $225,788 |
| 5-Year CAGR | N/A | N/A | 6.9% |
| Avg Rent | $783 | $783 | - |
| Cap Rate | 11.7% | 11.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 41840 (Fleming-Neon, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $52,005 |
| Monthly Rent | $783 |
| Price-to-Rent | 5.5:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 18.1% |
| Cap Rate | 11.7% |
| 5-Year IRR | 7.8% |
📈 Home Appreciation
| 1-Year | -26.8% ▼ |
| 3-Year CAGR | -9.0% ▼ |
| 5-Year CAGR | -4.0% ▼ |
| 10-Year CAGR | +1.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (11.7%) 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 41840
Population: 1,064
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 41840
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
Frequently Asked Questions
Can investors hit the 1% rule in Fleming-Neon, KY?
Fleming-Neon, KY delivers a 1.51% rent-to-price ratio on average. Investors targeting the 1% rule will find solid opportunities.
How well does BRRRR work in Fleming-Neon, KY?
BRRRR viability in Fleming-Neon, KY is a strong. Disciplined acquisition and rehab can hit the 75% LTV refinance target at market comps.
What are home prices like in Fleming-Neon, KY?
Typical homes in Fleming-Neon, KY go for around $52K. The 5-year CAGR of 0.0% consistent price movement.
What is the average monthly rent in Fleming-Neon, KY?
Average rent in Fleming-Neon, KY is approximately $783/mo per month. Against $52K home values that yields a reasonable rent-to-price ratio.
Can I live-in-and-rent in Fleming-Neon, KY?
House hacking works an attractive in Fleming-Neon, KY. Rents of $783/mo against $52K acquisition make the strategy solid for owner-occupants.
You know 41840 now. You don’t know where it ranks.
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