diff --git a/octodns/provider/yaml.py b/octodns/provider/yaml.py
index 3ca7842..697a29b 100644
--- a/octodns/provider/yaml.py
+++ b/octodns/provider/yaml.py
@@ -278,8 +278,10 @@ class YamlProvider(BaseProvider):
                     f'Both UTF-8 "{utf8}" and IDNA "{idna}" exist for {zone.decoded_name}'
                 )
             directory = utf8
-        else:
+        elif isdir(idna):
             directory = idna
+        else:
+            return []
 
         for filename in listdir(directory):
             if filename.endswith('.yaml'):
@@ -294,8 +296,10 @@ class YamlProvider(BaseProvider):
                     f'Both UTF-8 "{utf8}" and IDNA "{idna}" exist for {zone.decoded_name}'
                 )
             return utf8
+        elif isfile(idna):
+            return idna
 
-        return idna
+        return None
 
     def _populate_from_file(self, filename, zone, lenient):
         with open(filename, 'r') as fh:
@@ -341,11 +345,18 @@ class YamlProvider(BaseProvider):
             sources.extend(self._split_sources(zone))
 
         if not self.disable_zonefile:
-            sources.append(self._zone_sources(zone))
+            source = self._zone_sources(zone)
+            if source:
+                sources.append(self._zone_sources(zone))
 
         if self.shared_filename:
             sources.append(join(self.directory, self.shared_filename))
 
+        if not sources:
+            self.log.info(
+                'populate:   no YAMLs found for %s', zone.decoded_name
+            )
+
         # determinstically order our sources
         sources.sort()
 
diff --git a/tests/config/hybrid/one.test.yaml b/tests/config/hybrid/one.test.yaml
new file mode 100644
index 0000000..d2ac6ba
--- /dev/null
+++ b/tests/config/hybrid/one.test.yaml
@@ -0,0 +1,4 @@
+---
+flat-zone-file:
+  type: TXT
+  value: non-split flat zone file
diff --git a/tests/config/hybrid/two.test./$two.test.yaml b/tests/config/hybrid/two.test./$two.test.yaml
new file mode 100644
index 0000000..8019a9d
--- /dev/null
+++ b/tests/config/hybrid/two.test./$two.test.yaml
@@ -0,0 +1,4 @@
+---
+'':
+  type: TXT
+  value: root TXT
diff --git a/tests/config/hybrid/two.test./split-zone-file.yaml b/tests/config/hybrid/two.test./split-zone-file.yaml
new file mode 100644
index 0000000..ea051ba
--- /dev/null
+++ b/tests/config/hybrid/two.test./split-zone-file.yaml
@@ -0,0 +1,4 @@
+---
+split-zone-file:
+  type: TXT
+  value: split zone file
diff --git a/tests/test_octodns_provider_yaml.py b/tests/test_octodns_provider_yaml.py
index c289e6a..901819a 100644
--- a/tests/test_octodns_provider_yaml.py
+++ b/tests/test_octodns_provider_yaml.py
@@ -760,6 +760,24 @@ class TestSplitYamlProvider(TestCase):
             sorted(provider.list_zones()),
         )
 
+    def test_hybrid_directory(self):
+        source = YamlProvider(
+            'test',
+            join(dirname(__file__), 'config/hybrid'),
+            split_extension='.',
+            strict_supports=False,
+        )
+
+        # flat zone file only
+        zone = Zone('one.test.', [])
+        source.populate(zone)
+        self.assertEqual(1, len(zone.records))
+
+        # split zone only
+        zone = Zone('two.test.', [])
+        source.populate(zone)
+        self.assertEqual(2, len(zone.records))
+
 
 class TestOverridingYamlProvider(TestCase):
     def test_provider(self):