Real Estate Investing in Philpot, Kentucky (42366)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 42366 (Philpot, KY)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.4% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Philpot, KY (42366)?
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Market Analysis: 42366 Philpot
This part of Daviess County is not an easy win. The 42366 ZIP registers softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 42366 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
The gap between 42366 and stronger Philpot ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Demographically, 42366 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
New investors are better served looking at Philpot's stable or hybrid ZIPs before stepping into 42366. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Philpot:
Property Strategy for 42366
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $170,791 | $1,110 | 4.7% | +7.6% | $85,396 |
| 3BR | $280,649 | $1,460 | 3.7% | +7.6% | $93,550 |
| 4BR | $378,992 | $1,470 | 2.8% | +7.5% | $94,748 |
Market Trends
Home Value History (with trend line)
📊 How Does 42366 Compare?
| Metric | 42366 | Philpot | Owensboro, KY | Kentucky |
|---|---|---|---|---|
| Home Value | $280,423 | $280,423 | N/A | $225,788 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 6.9% |
| Avg Rent | $999 | $999 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
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 42366 (Philpot, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $280,423 |
| Monthly Rent | $999 |
| Price-to-Rent | 23.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +5.8% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 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 (2.8%). 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 42366
Population: 5,408
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
Investor Insight: With 2,548 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much should I expect to pay for a home in Philpot, KY?
Typical homes in Philpot, KY go for around $280K. The 5-year CAGR of 0.0% even-keeled price movement.
Are eviction rules reasonable in Philpot, KY?
For rental operators, Philpot, KY rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What kind of tenants rent in Philpot, KY?
Tenant quality in Philpot, KY ranks as solid. Landlords generally report measured occupancy at market rents of $999/mo.
What strategy should investors use in Philpot, KY?
A careful cash-flow rentals with hands-on management strategy Philpot, KY best. The market produces steady results for that approach at the $280K price point.
Is Philpot, KY a good market for FHA house hackers?
Philpot, KY offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $999/mo rent level.
You know 42366 now. You don’t know where it ranks.
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How 42366 ranks in Owensboro, KY
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