Real Estate Investing in Wareham, Massachusetts (02538)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02538 (Wareham, MA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.2% 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 Wareham, MA (02538)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 02538 Wareham
ZIP 02538 in Wareham, MA carries a solid set of headwinds. Home values near $479K and rents of $2,304/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 02538 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 02538's metrics run below Plymouth County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 02538 ZIP's population of 4,556 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
Strategy in 02538 is an operator game, not a passive one. Put differently, entry prices of $479K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Wareham:
Property Strategy for 02538
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $396,230 | $2,560 | 4.7% | +7.4% | $198,115 |
| 3BR | $496,478 | $3,080 | 4.5% | +7.8% | $165,493 |
Market Trends
Home Value History (with trend line)
📊 How Does 02538 Compare?
| Metric | 02538 | Wareham | Massachusetts |
|---|---|---|---|
| Home Value | $478,535 | $487,551 | $645,115 |
| 5-Year CAGR | 5.5% | 5.4% | 7.0% |
| Avg Rent | $2,304 | $2,304 | - |
| Cap Rate | 3.8% | 3.7% | - |
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 02538 (Wareham, MA). Anonymous, moderated, never written by AI.
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Property managers serving Plymouth County
Manage rentals here? List your business →Ahearn Realty Management is a management company for residential properties. summary from their website
KLV Property Management offers apartment living and commercial rentals south of Boston. summary from their website
Old Colony Property Services is a condominium and HOA property management company serving the Old Colony area of Southeastern Massachusetts, including Canton, Easton, Brockton, and Bridgewater. 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 | $478,535 |
| Monthly Rent | $2,304 |
| Price-to-Rent | 17.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | +5.5% ▲ |
| 3-Year CAGR | +5.0% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 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 (3.8%). 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 02538
Population: 4,556
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 02538
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
Wareham Middle
Wareham Senior High
Wareham Elementary School
Wareham Cooperative Alternative School
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
Where do rents currently stand in Wareham, MA?
Rental rates in Wareham, MA average $2,304/mo. Tenant demand and $479K home values make the yield look reasonable by investor standards.
What are home prices like in Wareham, MA?
Wareham, MA median home values land near $479K. That is reasonable territory for investors looking at $2,304/mo-per-month rentals.
What is the smart move for investors in Wareham, MA?
For Wareham, MA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Are renters plentiful in Wareham, MA?
Wareham, MA offers a predictable renter base at the $2,304/mo rent level. Tenant turnover is reasonable for well-managed properties.
Do rentals sit vacant long in Wareham, MA?
Vacancy risk in Wareham, MA is elevated. That supports steady cash flow for typical rental holds.
You know 02538 now. You don’t know where it ranks.
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How 02538 ranks in Boston-Cambridge-Newton, MA-NH
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