Real Estate Investing in Wathena, Kansas (66024)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66024 (Wathena, KS)? Our answer, based on the numbers below.
Strong fundamentals — affordable, appreciating, and stable. A confident pick for primary residence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
No major risk flags on the data we track.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Wathena, KS (66024)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 66024 Wathena
ZIP 66024 inside Doniphan County looks affordable on the surface — median value of $119K — 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 66024 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 66024 among KS's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
On the rental side, 684 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.
leans 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 Wathena:
Market Trends
Home Value History (with trend line)
📊 How Does 66024 Compare?
| Metric | 66024 | Wathena | St. Joseph, MO-KS | Kansas |
|---|---|---|---|---|
| Home Value | $119,040 | $153,927 | N/A | $237,409 |
| 5-Year CAGR | 8.7% | 8.6% | N/A | 7.2% |
| Avg Rent | $981 | $927 | N/A | - |
| Cap Rate | 6.4% | 5.0% | - | - |
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 66024 (Wathena, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $119,040 |
| Monthly Rent | $981 |
| Price-to-Rent | 10.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.9% |
| Cap Rate | 6.4% |
| 5-Year IRR | 15.2% |
📈 Home Appreciation
| 1-Year | +22.1% ▲ |
| 3-Year CAGR | +10.3% ▲ |
| 5-Year CAGR | +8.7% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.4%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 66024
Population: 684
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 66024
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
PICKETT ELEM.
CARDEN PARK ELEM
EDISON ELEM.
SPRING GARDEN MIDDLE
SKAITH ELEM.
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 580 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors consider Wathena, KS?
The 4.0/5 investability rating in Wathena, KS reflects its $119K prices and $981/mo rents. Investors generally consider it a solid option within KS.
Should investors worry about vacancy in Wathena, KS?
Vacancy in Wathena, KS is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $981/mo.
How much do tenants pay in Wathena, KS?
Rent in Wathena, KS is around $981/mo. The resulting rent-to-value relationship with $119K pricing is reasonable for most investor models.
Does Wathena, KS favor landlords or tenants?
Rental owners in Wathena, KS deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
How strong is tenant demand in Wathena, KS?
Working renters make up the core of the Wathena, KS tenant base. The pool is reasonable for investors targeting long-term holds.
You know 66024 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 66024 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 66024 ranks in St. Joseph, MO-KS
Every ZIP in this metro, ranked. Free.
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