Real Estate Investing in Waynesburg, Kentucky (40489)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 40489 (Waynesburg, KY)? 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.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Waynesburg, KY (40489)?
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Market Analysis: 40489 Waynesburg
Stepping back, ZIP 40489 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $188K median. It rewards specialists, not generalists.
Rent of $801/mo on a $188K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 40489 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 40489 among KY's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 40489 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 40489 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Waynesburg:
Property Strategy for 40489
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $147,827 | $890 | 4.3% | +9.5% | $73,913 |
| 3BR | $194,249 | $1,070 | 4.0% | +9.0% | $64,750 |
| 4BR | $228,054 | $1,310 | 4.1% | — | $57,014 |
Market Trends
Home Value History (with trend line)
📊 How Does 40489 Compare?
| Metric | 40489 | Waynesburg | Danville, KY | Kentucky |
|---|---|---|---|---|
| Home Value | $188,219 | $188,219 | N/A | $225,788 |
| 5-Year CAGR | 5.7% | 5.7% | N/A | 6.9% |
| Avg Rent | $801 | $801 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 40489 (Waynesburg, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $188,219 |
| Monthly Rent | $801 |
| Price-to-Rent | 19.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | -0.5% ▼ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 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 (3.3%). 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 40489
Population: 4,238
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 40489
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
Are tenants stable in Waynesburg, KY?
Working renters make up the core of the Waynesburg, KY tenant base. The pool is reasonable for investors targeting long-term holds.
How strict are landlord regulations in Waynesburg, KY?
Rental owners in Waynesburg, KY deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What price range are homes in Waynesburg, KY?
The median home value in Waynesburg, KY is roughly $188K. That puts it reasonable relative to the KY statewide average.
Can owner-occupants cash flow in Waynesburg, KY?
Waynesburg, KY offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $801/mo rent level.
What approach is best for Waynesburg, KY real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Waynesburg, KY. The numbers - $188K homes against $801/mo rents - support that play.
You know 40489 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 40489 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 40489 ranks in Danville, KY
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