Real Estate Investing in Coventry, Connecticut (06238)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 06238 (Coventry, CT)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Coventry, CT (06238)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 06238 Coventry
In practical terms, ZIP 06238 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $409K median. It rewards specialists, not generalists.
Distressed markets are won on execution, not on spreadsheets. ZIP 06238 registers the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 06238 sits on the difficult end of the CT spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 06238 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
tilts toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Coventry:
Property Strategy for 06238
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $241,829 | $1,500 | 4.5% | +11.4% | $241,829 |
| 2BR | $291,488 | $1,890 | 4.7% | +9.8% | $145,744 |
| 3BR | $392,613 | $2,270 | 4.2% | +8.7% | $130,871 |
| 4BR | $492,388 | $2,570 | 3.8% | +9.3% | $123,097 |
| 5BR | $517,397 | — | — | +8.4% | $103,479 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 06238 Compare?
| Metric | 06238 | Coventry | Hartford-East Hartford-Middletown, CT | Connecticut |
|---|---|---|---|---|
| Home Value | $409,039 | $409,039 | N/A | $425,784 |
| 5-Year CAGR | 7.5% | 7.5% | N/A | 9.3% |
| Avg Rent | $2,450 | $2,450 | N/A | - |
| Cap Rate | 4.7% | 4.7% | - | - |
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 06238 (Coventry, CT). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $409,039 |
| Monthly Rent | $2,450 |
| Price-to-Rent | 13.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.2% |
| Cap Rate | 4.7% |
| 5-Year IRR | 12.2% |
📈 Home Appreciation
| 1-Year | +8.4% ▲ |
| 3-Year CAGR | +7.6% ▲ |
| 5-Year CAGR | +7.5% ▲ |
| 10-Year CAGR | +6.6% ▲ |
🏠 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 (4.7%). 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 06238
Population: 12,267
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 06238
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 1,010 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much does a house cost in Coventry, CT?
In Coventry, CT the median home value sits at $409K. Against the broader CT market, that reads as reasonable for most investors.
Is Coventry, CT a smart market for rental property?
With a 3.0/5 investability score, Coventry, CT ranks as a solid market for rental property investors. Median prices of $409K and rents of $2,450/mo drive the underlying numbers.
Does house hacking make sense in Coventry, CT?
House hacking in Coventry, CT is reasonable to execute. Prices around $409K and rents of $2,450/mo solid owner-occupant economics.
Are rents high in Coventry, CT?
Coventry, CT rentals go for roughly $2,450/mo a month. That puts gross yield in solid territory relative to $409K acquisition costs.
What is the tenant pool like in Coventry, CT?
Expect a solid tenant pool in Coventry, CT. The rental market absorbs $2,450/mo rents without meaningful friction.
You know 06238 now. You don’t know where it ranks.
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How 06238 ranks in Hartford-East Hartford-Middletown, CT
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