Real Estate Investing in Overland Park, Kansas (66223)
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Should you buy in 66223 (Overland Park, KS)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
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 (66223)?
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Market Analysis: 66223 Overland Park
This part of Johnson County is not an easy win. The 66223 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
For an experienced owner, 66223 can be a a solid fit for hunting ground — but the discount at $510K reflects genuine risk that outside investors often underestimate.
In the broader KS picture, 66223 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 66223 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 66223 is an operator game, not a passive one. Put differently, entry prices of $510K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Overland Park:
Property Strategy for 66223
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $360,120 | $1,810 | 3.6% | +6.1% | $180,060 |
| 3BR | $399,753 | $2,360 | 4.3% | +6.7% | $133,251 |
| 4BR | $510,632 | $2,800 | 3.9% | +6.8% | $127,658 |
| 5BR | $746,034 | — | — | +7.0% | $149,207 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 66223 Compare?
| Metric | 66223 | Overland Park | Kansas City, MO-KS | Kansas |
|---|---|---|---|---|
| Home Value | $510,316 | $440,483 | N/A | $237,409 |
| 5-Year CAGR | 5.2% | 6.0% | N/A | 7.2% |
| Avg Rent | $2,084 | $1,786 | N/A | - |
| Cap Rate | 3.2% | 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 66223 (Overland Park, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $510,316 |
| Monthly Rent | $2,084 |
| Price-to-Rent | 20.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +6.4% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +5.2% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 Rent Trends
| 1-Year | +10.4% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +6.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.2%). 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 66223
Population: 25,050
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 66223
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Harmony Middle
Morse Elementary
Prairie Star Elementary
Prairie Star Middle
Sunrise Point Elementary
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
What kind of market is Overland Park, KS for investors?
Our data puts Overland Park, KS at 3.0/5 for investability. Home prices of $510K and rents around $2,084/mo create a solid backdrop for investor activity.
What is the typical rental rate in Overland Park, KS?
The typical rental in Overland Park, KS commands about $2,084/mo monthly. That rent profile reliable cash flow against the $510K purchase basis.
What approach is best for Overland Park, KS real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Overland Park, KS. The numbers - $510K homes against $2,084/mo rents - support that play.
Is KS a landlord-friendly state?
Landlord-friendliness in Overland Park, KS is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How do home values compare in Overland Park, KS?
In Overland Park, KS the median home value sits at $510K. Against the broader KS market, that reads as reasonable for most investors.
You know 66223 now. You don’t know where it ranks.
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How 66223 ranks in Kansas City, MO-KS
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