Real Estate Investing in Waverly, Kentucky (42462)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 42462 (Waverly, KY)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Elevated vacancy: 10.4% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Waverly, KY (42462)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 42462 Waverly
ZIP 42462 inside Union County looks affordable on the surface — median value of $176K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 42462 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 42462's metrics run below Union County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A substantial renter share of 13% in 42462 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 42462 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 Waverly:
Market Trends
Home Value History (with trend line)
📊 How Does 42462 Compare?
| Metric | 42462 | Waverly | Evansville, IN-KY | Kentucky |
|---|---|---|---|---|
| Home Value | $175,593 | $175,593 | N/A | $225,788 |
| 5-Year CAGR | 4.4% | 4.4% | N/A | 6.9% |
| Avg Rent | $963 | $963 | N/A | - |
| Cap Rate | 4.3% | 4.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 42462 (Waverly, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $175,593 |
| Monthly Rent | $963 |
| Price-to-Rent | 15.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +3.4% ▲ |
| 3-Year CAGR | +4.1% ▲ |
| 5-Year CAGR | +4.4% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 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 (4.3%). 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 42462
Population: 1,627
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
🎓 Nearby Colleges & Universities
Investor Insight: With 986 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical rental rate in Waverly, KY?
The typical rental in Waverly, KY commands about $963/mo monthly. That rent profile consistent cash flow against the $176K purchase basis.
Is it easy to find good tenants in Waverly, KY?
Tenant demand in Waverly, KY is solid. The local workforce $963/mo rents across most rental classes.
What is the typical home price in Waverly, KY?
Homes in Waverly, KY typically sell near $176K. Prices have moved at a 0.0% 5-year CAGR, which stable long-term demand.
Are landlord laws favorable in Waverly, KY?
Waverly, KY operates under KY law, which is landlord-friendly overall for landlords. Expect predictable treatment in typical lease and eviction cases.
Should investors consider Waverly, KY?
With a 3.0/5 investability score, Waverly, KY ranks as a solid market for rental property investors. Median prices of $176K and rents of $963/mo drive the underlying numbers.
You know 42462 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 42462 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 42462 ranks in Evansville, IN-KY
Every ZIP in this metro, ranked. Free.
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