Priced at $276,000—which breaks down to $4,000.00 per acre across its land base or $218.00 per square foot including the dwelling—this 69-acre homestead at 122 Little Farm Road in Mount Vernon, Kentucky (ZIP 40456, Rockcastle County) represents a versatile rural property. Following a recent price reduction from $349,000, the estate features 13 acres of open pasture, 56 acres of Appalachian hardwood timber, a year-round winding creek, and multiple historic structures.
The property includes a 125-year-old, 1,268-square-foot farmhouse (built in 1900) along with a hand-hewn timber building containing salvageable historic materials. Situated less than 10 minutes from Highway 461 and 15 minutes from Interstate 75, this unrestricted parcel offers a balance of private rural seclusion and regional transportation access.
Property Specifications & Technical Parameters
Evaluating public registry records, Rockcastle County PVA tax map data (Parcel ID: 03600062), and listing disclosures establishes the baseline parameters for the estate.
| Property Parameter | Listing Disclosures & County Public Data |
| Street Address | 122 Little Farm Rd, Mount Vernon, KY 40456 |
| County / Region | Rockcastle County / Outer Bluegrass-Cumberland Foothills Transition |
| Parcel Identification Number | 03600062 |
| Current List Price | $276,000 (Reduced 20.9% from $349,000) |
| Total Deeded Footprint | 69.00 Acres (3,005,640 Square Feet) |
| Price Per Acre (Land Basis) | $4,000.00 per acre |
| Primary Living Area | 1,268 Square Feet (3 Beds, 1 Bath) |
| Year Built (Farmhouse) | 1900 (125-year-old original structure) |
| Zoning Classification | Unrestricted / Agricultural Rural |
| Topography Profile | Rolling Valley Pasture, Wooded Hillsides, Ridge Benches |
| Hydrology & Water Assets | Year-Round Winding Stream Corridor; Natural Pond Sites |
| Pasture / Timber Balance | 13 Acres Usable Open Pasture / 56 Acres Forested Hardwoods |
| Outbuildings & Features | Historic Hand-Hewn Timber Building, Barn Frames, Storage Outbuildings |
| Heating & Cooling | Electric Forced Air Heat Pump; Central Air Conditioning |
| Foundation & Roof Construction | Stone Foundation; Durable Metal Roof; Vinyl Siding |
| Annual Property Taxes | $367.00 per year ($30.58 per month; $45,000 tax assessment) |
| HOA / Association Dues | None ($0.00 / month) |
Unbundled Valuation & Asset Allocation Analysis
To evaluate the $276,000 purchase price, the overall asset value can be separated across raw pasture land, hardwood timberland, existing dwelling infrastructure, and historic timber assets.
| Asset / Infrastructure Component | Estimated Value Allocation | Calculation Basis & Market Context |
| Usable Pasture Land (13 Acres) | $58,500 | Assigned at $4,500/acre baseline for open, tillable valley land |
| Hardwood Timberland (56 Acres) | $140,000 | Valued at $2,500/acre for wooded mountain slopes and timber |
| Primary Farmhouse Dwelling (1,268 SQFT) | $45,000 | Implied structural value of 1900 frame house (~$35.48/sq ft) |
| Historic Hand-Hewn Timber Barn | $18,000 | Reclaimed lumber/beams value & usable storage shelter |
| Site Utilities & Road Infrastructure | $14,500 | Value of installed electric drop, well/septic base, & roads |
| TOTAL ESTIMATED ASSET VALUE | $276,000 | Matches current adjusted list price ($4,000/acre basis) |
Tax Carrying Overhead
Holding costs for 122 Little Farm Road remain low due to favorable agricultural tax assessments in Rockcastle County:
- Tax Assessed Valuation: $45,000
- Annual Property Tax Bill: $367.00 per year
- Monthly Carrying Cost: ~$30.58 per month
- HOA / Association Dues: $0.00 / month
Land Profile, Forest Canopy, & Hydrology
The 69-acre parcel offers a combination of tillable agricultural ground and elevated timberland:
- 13 Acres Usable Bottomland Pasture: Located along the lower valley, this open ground is suited for livestock, crops, orchards, or large gardens.
- 56 Acres Hardwood Canopy: Forested hillsides feature pockets of mature Appalachian hardwoods, providing natural privacy, wildlife cover, and long-term timber potential.
- Year-Round Stream Corridor: A continuous creek winds through the property, offering a natural water source for livestock and wildlife, as well as suitable terrain for excavating a private pond.
- Topography & Internal Access: Elevation moves from flat valley bottomland up to rolling hilltop benches. Existing interior roads lead up to elevated build sites with territorial mountain views.
125-Year-Old Historic Farmhouse & Outbuilding Audit
The residential component contains historical features that offer opportunities for renovation or material salvage:
- 1,268 SQFT Farmhouse Shell: Originally constructed in 1900, the single-family home sits on a stone foundation with a metal roof and vinyl siding. It features 3 bedrooms, 1 full bathroom, forced-air electric heating, central cooling, and a fireplace.
- Historic Hand-Hewn Timber Building: An original log/timber outbuilding stands near the primary dwelling. Hand-hewn beams, historic oak boards, and vintage hardware can be restored in place or salvaged for rustic architectural elements.
- Equipment Outbuildings: Additional shed structures provide dry storage for farm machinery, tractors, or workshop tools.
Estimated Renovation & Site Development Budget (CapEx)
Depending on whether a buyer intends to restore the existing 1900 farmhouse or build a modern residence on the upper ridge, estimated project expenditures include:
| Development / Improvement Component | Low-End Estimate (DIY) | High-End Estimate (Turnkey) | Technical Scope & System Details |
| Farmhouse Interior & Mechanical Renovation | $25,000 | $65,000 | Update electrical panel, plumbing fixtures, kitchen, & bath |
| Foundation & Stone Pier Stabilization | $4,500 | $12,000 | Reinforce 1900 stone foundation piers & subfloor framing |
| Septic System Audit & Upgrade | $3,500 | $9,500 | Inspect existing tank & install extended lateral drain field |
| Internal Access Road Re-Grading | $3,000 | $7,500 | Grade & gravel upper hilltop access roads for ridge builds |
| Pasture Fencing & Gate Installation | $4,000 | $11,000 | Fence 13 acres of pasture for cattle, horses, or goats |
| Pond Excavation & Creek Works | $5,000 | $12,000 | Excavate a retention pond along the creek corridor |
| TOTAL PROJECTED CAPEX | $45,000 | $117,000 | Estimated budget range based on project scope |
Regional Comparative Market Analysis (CMA)
Comparing 122 Little Farm Road against active listings in Rockcastle and surrounding counties highlights its market position:
| Property Location & Details | Acreage | List Price | Price / Acre | Primary Features & Infrastructure |
| 122 Little Farm Rd, Mount Vernon (Subject) | 69.00 AC | $276,000 | $4,000.00 | 1,268 SF farmhouse; 13 AC pasture; Creek; Timber |
| 2563 Schoolhouse Hill Rd, Mount Vernon, KY | 15.00 AC | $269,500 | $17,966.67 | Modern 1,512 SF home; Smaller acreage footprint |
| Long Branch Rd #0, Livingston, KY | 101.47 AC | $279,000 | $2,749.58 | Unimproved raw timberland; No dwelling or pasture |
| 303 Freedom School Rd, Mount Vernon, KY | 10.00 AC | $229,900 | $22,990.00 | Older home on small 10-acre parcel |
| 1435 Clover Bottom Creek Rd, McKee, KY | 45.00 AC | $275,000 | $6,111.11 | Jackson County line; Mixed timber; Older farmhouse |
Market Takeaways
- Acreage Value Scale: At $4,000 per acre inclusive of the farmhouse, the property offers a lower per-acre cost than smaller 10-to-15-acre tracts in Rockcastle County that average $15,000+ per acre.
- Recent Price Adjustment: The 20.9% price drop from $349,000 to $276,000 aligns the estate closer to regional land values while accounting for the restoration work needed on the 1900 farmhouse.
Strategic Advantages vs. Critical Risk Factors
Key Advantages (Pros)
- Attractive $4,000/Acre Base: Combines 69 acres, a farmhouse, and outbuildings at a competitive entry price.
- Low Annual Tax Overhead: Taxes are assessed at $367 per year ($30.58/month).
- Balanced Topography: Features 13 acres of tillable/usable pasture alongside 56 acres of hardwood timberland.
- Live Water Asset: A year-round creek runs through the valley, offering livestock water and potential pond sites.
- Multiple Build Sites: Interior roads lead to elevated hilltop benches with mountain views.
- Historic Material Value: Hand-hewn timber structures contain salvageable historic wood and beams.
- Convenient Access: Located 15 minutes from Interstate 75 and less than 10 minutes from Highway 461.
Critical Risk Factors (Cons)
- Farmhouse Rehabilitation Required: The 1900 home requires system updates (plumbing, electrical, cosmetic) to meet modern standards.
- Flood Plain Awareness: The lower pasture and creek corridor require verification via FEMA flood maps prior to constructing permanent structures near the water.
- Deed Boundary Verification: Acreage is based on deed records; a professional survey is recommended to confirm boundary lines.
Essential Buyer Due Diligence Roadmap
- Order a Professional Boundary Survey: Hire a licensed Kentucky surveyor to flag parcel corners and verify the 69-acre deeded footprint.
- Schedule a Structural & Home Inspection: Retain an inspector experienced with historic homes to evaluate the stone foundation, floor joists, wiring, and plumbing of the 1900 farmhouse.
- Inspect Well Water & Septic Systems: Test the private water well quality/flow rate and conduct a septic tank inspection.
- Evaluate Floodplain & Pond Sites: Review soil compositions and elevation profiles along the creek corridor to determine suitable locations for a retention pond or pasture drainage.
- Verify Highway Access & Utility Drops: Confirm road maintenance status on Little Farm Road and check electric service capacity with the local utility provider.
Listed on Zillow