Real Estate Investing in Warren, Massachusetts (01585)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 01585 (Warren, 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.
- Elevated vacancy: 11.8% vacancy may signal weakening demand.
- 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 Warren, MA (01585)?
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Market Analysis: 01585 Warren
ZIP 01585 in Warren, MA carries a solid set of headwinds. Home values near $419K and rents of $1,503/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $419K asset, 01585 is the wrong submarket. If the plan prices in friction, the yield can still work.
Nearby ZIPs in Warren have seen price recovery that 01585 has not matched. Worcester County data supports the view that the spread is structural rather than temporary.
A durable renter share of 20% in 01585 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 01585 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Warren:
Property Strategy for 01585
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $347,248 | $1,670 | 3.5% | +8.2% | $173,624 |
| 3BR | $430,886 | $2,040 | 3.4% | +8.0% | $143,629 |
| 4BR | $498,853 | $2,280 | 3.3% | +8.3% | $124,713 |
Market Trends
Home Value History (with trend line)
📊 How Does 01585 Compare?
| Metric | 01585 | Warren | Worcester, MA-CT | Massachusetts |
|---|---|---|---|---|
| Home Value | $418,667 | $391,092 | N/A | $645,115 |
| 5-Year CAGR | 4.8% | 4.9% | N/A | 7.0% |
| Avg Rent | $1,503 | $1,512 | N/A | - |
| Cap Rate | 2.8% | 3.0% | - | - |
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 01585 (Warren, MA). Anonymous, moderated, never written by AI.
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Property managers serving Worcester County
Manage rentals here? List your business →Ruane Property Management LLC offers commercial and residential property management services. summary from their website
AP Services MA offers services to build, manage, and maintain properties. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $418,667 |
| Monthly Rent | $1,503 |
| Price-to-Rent | 23.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +4.8% ▲ |
| 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 01585
Population: 4,942
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 01585
Schools in This ZIP Code
Nearby Schools (3 more)
Schools in adjacent ZIP codes that may serve this area
Quaboag Regional High
Quaboag Regional Middle Innovation School
Quaboag Integrated Preschool
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
Frequently Asked Questions
Does Warren, MA favor landlords or tenants?
Warren, MA falls under MA landlord-tenant law, which is tenant-protective. That backdrop makes day-to-day property management reasonable.
What kind of tenants rent in Warren, MA?
The renter base in Warren, MA is reasonable for the $1,503/mo price point. Screening well and pricing to market typically yields stable tenants.
How much does a house cost in Warren, MA?
The median home value in Warren, MA is roughly $419K. That puts it reasonable relative to the MA statewide average.
Can I live-in-and-rent in Warren, MA?
Warren, MA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $419K price point reasonable to enter.
Does Warren, MA make sense for an investment property?
Warren, MA registers an investability rating of 3.0/5, with median home values near $419K and average rents around $1,503/mo. That combination puts it in the healthy tier for investor interest.
You know 01585 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 01585 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 01585 ranks in Worcester, MA-CT
Every ZIP in this metro, ranked. Free.
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