Real Estate Investing in Provincetown, Massachusetts (02657)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02657 (Provincetown, MA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 59.3% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 46.8 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Provincetown, MA (02657)?
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Market Analysis: 02657 Provincetown
This part of Barnstable County is not an easy win. The 02657 ZIP records softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 02657 sits at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
The gap between 02657 and stronger Provincetown ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Meanwhile, 3,681 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 02657 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Provincetown:
Property Strategy for 02657
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $710,460 | $1,610 | 1.6% | +8.7% | $710,460 |
| 2BR | $1,083,285 | $2,120 | 1.4% | +9.4% | $541,643 |
| 3BR | $1,849,306 | $2,600 | 1.0% | +10.8% | $616,435 |
| 4BR | $2,445,522 | $2,980 | 0.9% | +11.9% | $611,380 |
| 5BR | $3,032,344 | — | — | +10.6% | $606,469 |
Market Trends
Home Value History (with trend line)
📊 How Does 02657 Compare?
| Metric | 02657 | Provincetown | Barnstable Town, MA | Massachusetts |
|---|---|---|---|---|
| Home Value | $1,072,501 | $1,072,501 | N/A | $645,115 |
| 5-Year CAGR | 6.2% | 6.2% | N/A | 7.0% |
| Avg Rent | $1,908 | $1,908 | N/A | - |
| Cap Rate | 1.4% | 1.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 02657 (Provincetown, MA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $1,072,501 |
| Monthly Rent | $1,908 |
| Price-to-Rent | 46.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.1% |
| Cap Rate | 1.4% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +4.0% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 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 (1.4%). 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 02657
Population: 3,681
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 02657
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.
Frequently Asked Questions
Is it easy to find good tenants in Provincetown, MA?
Provincetown, MA draws a reliable base of working renters. Demand at the $1,908/mo rent level is reasonable for standard single-family and small multi rentals.
What real estate strategy is ideal for Provincetown, MA?
A careful cash-flow rentals with hands-on management strategy Provincetown, MA best. The market produces predictable results for that approach at the $1.1M price point.
Is housing expensive in Provincetown, MA?
In Provincetown, MA the median home value sits at $1.1M. Against the broader MA market, that reads as reasonable for most investors.
What are vacancy rates like in Provincetown, MA?
Expect elevated vacancy in Provincetown, MA. Rents at $1,908/mo are absorbed by the tenant base without meaningful lag.
Are eviction rules reasonable in Provincetown, MA?
Landlord-friendliness in Provincetown, MA is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 02657 now. You don’t know where it ranks.
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How 02657 ranks in Barnstable Town, MA
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