Real Estate Investing in Ipswich, Massachusetts (01938)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 01938 (Ipswich, 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: 8.8% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 29.3 — hard to cash-flow at these prices.
What’s happening in Ipswich, MA (01938)?
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Market Analysis: 01938 Ipswich
Not every below-median market is a bargain. Ipswich's 01938 ZIP registers signals that favor experienced operators who can absorb the risk $859K pricing implies.
For an experienced owner, 01938 can be a a solid fit for hunting ground — but the discount at $859K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Ipswich have seen price recovery that 01938 has not matched. Essex County data supports the view that the spread is structural rather than temporary.
Who lives in 01938 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 01938 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Ipswich:
Property Strategy for 01938
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $427,579 | $2,160 | 3.6% | +6.4% | $427,579 |
| 2BR | $640,772 | $2,560 | 2.9% | +7.5% | $320,386 |
| 3BR | $829,397 | $3,080 | 2.7% | +7.4% | $276,466 |
| 4BR | $1,022,195 | $3,390 | 2.4% | +8.4% | $255,549 |
| 5BR | $1,204,787 | — | — | +8.4% | $240,957 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 01938 Compare?
| Metric | 01938 | Ipswich | Massachusetts |
|---|---|---|---|
| Home Value | $859,277 | $859,277 | $645,115 |
| 5-Year CAGR | 5.3% | 5.3% | 7.0% |
| Avg Rent | $2,448 | $2,448 | - |
| Cap Rate | 2.2% | 2.2% | - |
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 01938 (Ipswich, MA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 01938 (Ipswich, MA)?
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Property managers serving Essex County
Manage rentals here? List your business →MRS Property Management offers full-service property management and tenant placement for apartments, houses, and commercial rentals across the North Shore area and Southern New Hampshire. summary from their website
CNR Property Management provides expert property management and maintenance solutions. summary from their website
This domain is for sale for $2,295 or monthly payments. 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 | $859,277 |
| Monthly Rent | $2,448 |
| Price-to-Rent | 29.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 7.5% |
📈 Home Appreciation
| 1-Year | +4.2% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 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 (2.2%). 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 01938
Population: 13,820
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 01938
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 3,634 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What strategy should investors use in Ipswich, MA?
Ipswich, MA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($859K prices, $2,448/mo rents) make it a reasonable choice.
Where do home prices stand in Ipswich, MA?
In Ipswich, MA the median home value sits at $859K. Against the broader MA market, that reads as reasonable for most investors.
Is Ipswich, MA a good place for real estate investing?
Ipswich, MA scores 3.0/5 for investability. Home values sit at $859K and rents near $2,448/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How tight is the rental market in Ipswich, MA?
Occupancy in Ipswich, MA runs stable with elevated vacancy. Well-priced units at $2,448/mo lease on reasonable timelines.
Is Ipswich, MA suited for a house hack?
Ipswich, MA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $859K price point reasonable to enter.
You know 01938 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 01938 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 01938 ranks in Boston-Cambridge-Newton, MA-NH
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