Real Estate Investing in Overland Park, Kansas (66204)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66204 (Overland Park, KS)? 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 Overland Park, KS (66204)?
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Market Analysis: 66204 Overland Park
ZIP 66204 inside Johnson County looks affordable on the surface — median value of $318K — but the discount exists for reasons that a careful buyer should understand before committing.
The 66204 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Statewide comparisons place 66204 among KS's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Meanwhile, 18,557 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.
Distressed ZIPs reward experience. significant returns are possible in 66204, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Overland Park:
Property Strategy for 66204
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $257,157 | $1,460 | 4.1% | +8.5% | $128,578 |
| 3BR | $299,749 | $1,900 | 4.6% | +7.5% | $99,916 |
| 4BR | $363,420 | $2,260 | 4.5% | +7.0% | $90,855 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66204 Compare?
| Metric | 66204 | Overland Park | Kansas City, MO-KS | Kansas |
|---|---|---|---|---|
| Home Value | $318,161 | $440,483 | N/A | $237,409 |
| 5-Year CAGR | 6.6% | 6.0% | N/A | 7.2% |
| Avg Rent | $1,544 | $1,786 | N/A | - |
| Cap Rate | 3.8% | 3.0% | - | - |
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 66204 (Overland Park, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $318,161 |
| Monthly Rent | $1,544 |
| Price-to-Rent | 17.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 10.4% |
📈 Home Appreciation
| 1-Year | +9.5% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | -8.8% ▼ |
| 3-Year CAGR | +1.0% ▲ |
| 5-Year CAGR | +4.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). 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 66204
Population: 18,557
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 66204
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Apache Elem
Bluejacket-Flint
Crestview Elem
Merriam Park Elementary
Nieman 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 5,786 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Overland Park, KS a good market for buy-and-hold investors?
Investors tracking Overland Park, KS will find a 3.0/5 rating supported by $318K median home values and $1,544/mo rents. That profile suits long-term holders targeting reliable returns.
Is it easy to find good tenants in Overland Park, KS?
Tenant demand in Overland Park, KS is solid. The local workforce $1,544/mo rents across most rental classes.
How much is rent in Overland Park, KS?
Rents in Overland Park, KS run near $1,544/mo. Compared with median home prices of $318K that produces solid gross yields for typical rentals.
What kind of vacancy should I budget for in Overland Park, KS?
Occupancy in Overland Park, KS runs stable with elevated vacancy. Well-priced units at $1,544/mo lease on reasonable timelines.
Can I live-in-and-rent in Overland Park, KS?
House hacking in Overland Park, KS is a challenging. With home values around $318K and rents at $1,544/mo, owner-occupants can offset a meaningful share of PITI.
You know 66204 now. You don’t know where it ranks.
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How 66204 ranks in Kansas City, MO-KS
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