Real Estate Investing in Lee, Massachusetts (01238)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 01238 (Lee, MA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 14.8% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Lee, MA (01238)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 01238 Lee
This part of Berkshire County is not an easy win. The 01238 ZIP records 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 01238 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Lee have seen price recovery that 01238 has not matched. Berkshire County data supports the view that the spread is structural rather than temporary.
The demographic picture in 01238 includes headwinds that any investor should price in. Income distribution skews lower than Lee averages, and tenant stability requires active management.
New investors are better served looking at Lee's stable or hybrid ZIPs before stepping into 01238. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Lee:
Property Strategy for 01238
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $336,755 | $1,970 | 4.2% | +8.7% | $168,378 |
| 3BR | $399,702 | $2,550 | 4.6% | +9.3% | $133,234 |
| 4BR | $527,678 | $3,150 | 4.3% | +9.5% | $131,919 |
| 5BR | $716,823 | — | — | +8.6% | $143,365 |
Market Trends
Home Value History (with trend line)
📊 How Does 01238 Compare?
| Metric | 01238 | Lee | Pittsfield, MA | Massachusetts |
|---|---|---|---|---|
| Home Value | $428,223 | $428,223 | N/A | $645,115 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 7.0% |
| Avg Rent | $1,773 | $1,773 | N/A | - |
| Cap Rate | 3.2% | 3.2% | - | - |
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 01238 (Lee, MA). Anonymous, moderated, never written by AI.
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Property managers serving Berkshire County
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📊 Market Snapshot
| Home Value | $428,223 |
| Monthly Rent | $1,773 |
| Price-to-Rent | 20.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.2% |
| 5-Year IRR | 9.4% |
📈 Home Appreciation
| 1-Year | +2.1% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 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 (3.2%). 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 01238
Population: 5,893
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 01238
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 625 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Lee, MA a good market for buy-and-hold investors?
Lee, MA scores 3.0/5 for investability. Home values sit at $428K and rents near $1,773/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Are there empty rentals in Lee, MA?
Vacancy risk in Lee, MA is elevated. That supports consistent cash flow for typical rental holds.
How strong are rents in Lee, MA?
Rent in Lee, MA is around $1,773/mo. The resulting rent-to-value relationship with $428K pricing is reasonable for most investor models.
What investment strategy works best in Lee, MA?
A careful cash-flow rentals with hands-on management strategy Lee, MA best. The market produces stable results for that approach at the $428K price point.
Is the tenant base reliable in Lee, MA?
Lee, MA offers a stable renter base at the $1,773/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 01238 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 01238 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.
How 01238 ranks in Pittsfield, MA
Every ZIP in this metro, ranked. Free.
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