Real Estate Investing in Eddyville, Kentucky (42038)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 42038 (Eddyville, KY)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 31.6% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Eddyville, KY (42038)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 42038 Eddyville
From an investor standpoint, ZIP 42038 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $159K median. It rewards specialists, not generalists.
Turning to rents, the numbers look inviting — $159K purchase price, 0.0% nominal cap — the work to hit that pro forma in 42038 is substantial and deserves full respect.
Regionally, 42038 sits on the difficult end of the KY spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
The 42038 ZIP's population of 6,045 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Eddyville:
Property Strategy for 42038
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $167,068 | $1,110 | 4.8% | +8.2% | $83,534 |
| 3BR | $253,315 | $1,550 | 4.4% | +7.6% | $84,438 |
| 4BR | $438,667 | $1,860 | 3.1% | +6.8% | $109,667 |
Market Trends
Home Value History (with trend line)
📊 How Does 42038 Compare?
| Metric | 42038 | Eddyville | Kentucky |
|---|---|---|---|
| Home Value | $159,297 | $159,297 | $225,788 |
| 5-Year CAGR | 3.7% | 3.7% | 6.9% |
| Avg Rent | $999 | $999 | - |
| Cap Rate | 4.9% | 4.9% | - |
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 42038 (Eddyville, KY). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 42038 (Eddyville, KY)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $159,297 |
| Monthly Rent | $999 |
| Price-to-Rent | 13.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.5% |
| Cap Rate | 4.9% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | -1.9% ▼ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +3.6% ▲ |
🏠 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 (4.9%). 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 42038
Population: 6,045
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 42038
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.
Frequently Asked Questions
How quickly do rentals get leased in Eddyville, KY?
Eddyville, KY carries elevated vacancy risk. Expect steady absorption at market rents of $999/mo.
Are rents high in Eddyville, KY?
Eddyville, KY rentals go for roughly $999/mo a month. That puts gross yield in solid territory relative to $159K acquisition costs.
Is Eddyville, KY better for rentals, flips, or BRRRR?
Eddyville, KY investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($159K prices, $999/mo rents) make it a reasonable choice.
Can I house hack in Eddyville, KY?
Eddyville, KY is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $159K price point reasonable to enter.
How does Eddyville, KY rate as a rental market?
Eddyville, KY rates 3.0/5 for investability. With median values at $159K and rents near $999/mo, the market offers reasonable fundamentals for rental investors.
You know 42038 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 42038 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
AI Market Advisor
Ask questions about investing in 42038 (Eddyville)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 42038 (Eddyville, KY).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.