Real Estate Investing in Drakesboro, Kentucky (42337)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 42337 (Drakesboro, KY)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Elevated vacancy: 9.8% vacancy may signal weakening demand.
- Flat appreciation: Values have barely moved over 5 years (0.2% CAGR).
- 1-year downturn: Values declined 3.4% in the last year.
- Elevated poverty: 28.1% poverty rate — can affect rent collection.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Drakesboro, KY (42337)?
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Market Analysis: 42337 Drakesboro
In Drakesboro's 42337 ZIP, the arithmetic favors hands-on owners. Median home values shows $97K, leaving spread for capex-heavy BRRRR or reposition strategies.
Investors in 42337 do not buy the market average — they buy the unit they can improve. $97K median pricing and $1,098/mo comps define the envelope within which the work has to pay.
Across Drakesboro, pockets like 42337 represent the last affordable rungs of a rising ladder. The state-level data shows those rungs thinning.
The 42337 ZIP's demographic trend has been one of stability with upside — population of 1,611, steady renter share, and an incoming cohort that is willing to pay for improved units.
Value-add plays pencil in 42337 when three things line up: a sub-median purchase, a realistic rehab budget, and a post-rehab rent comp that stands up. All three are present in this ZIP.
Here's what matters if you're considering buying a home in Drakesboro:
Market Trends
Home Value History (with trend line)
📊 How Does 42337 Compare?
| Metric | 42337 | Drakesboro | Central City, KY | Kentucky |
|---|---|---|---|---|
| Home Value | $97,345 | $97,345 | N/A | $225,788 |
| 5-Year CAGR | 0.2% | 0.2% | N/A | 6.9% |
| Avg Rent | $1,098 | $1,098 | N/A | - |
| Cap Rate | 8.8% | 8.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 42337 (Drakesboro, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $97,345 |
| Monthly Rent | $1,098 |
| Price-to-Rent | 7.4:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 13.5% |
| Cap Rate | 8.8% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | -3.4% ▼ |
| 3-Year CAGR | -1.2% ▼ |
| 5-Year CAGR | +0.2% ▲ |
| 10-Year CAGR | +4.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (8.8%) 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 42337
Population: 1,611
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
Frequently Asked Questions
What price range are homes in Drakesboro, KY?
Expect median prices around $97K in Drakesboro, KY. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
How do BRRRR numbers look in Drakesboro, KY?
Investors running BRRRR in Drakesboro, KY see a strong outcomes. Deal flow and rehab execution matter more than the macro here.
How does Drakesboro, KY stack up for property investment?
Drakesboro, KY scores 4.0/5 for investability. Home values sit at $97K and rents near $1,098/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What are rental rates like in Drakesboro, KY?
Rent in Drakesboro, KY is around $1,098/mo. The resulting rent-to-value relationship with $97K pricing is reasonable for most investor models.
Is it possible to hit the 1% rule in Drakesboro, KY?
The median property in Drakesboro, KY ($97K at $1,098/mo rent) a 1.13% rent-to-price figure. Pure 1% deals require disciplined offer pricing.
You know 42337 now. You don’t know where it ranks.
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How 42337 ranks in Central City, KY
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