Real Estate Investing in Frankfort, Kansas (66427)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66427 (Frankfort, 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.
- High vacancy: 17.2% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Frankfort, KS (66427)?
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Market Analysis: 66427 Frankfort
The 66427 ZIP covers a section of Frankfort that demands careful diligence. Prices near $182K look accessible, but the work to make a deal cash flow is real.
Meanwhile, the numbers look inviting — $182K purchase price, 0.0% nominal cap — the work to hit that pro forma in 66427 is substantial and deserves full respect.
ZIP 66427's metrics run below Marshall County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 66427 ZIP's population of 1,241 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reports the need for careful underwriting.
Distressed ZIPs reward experience. durable returns are possible in 66427, 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 Frankfort:
Property Strategy for 66427
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $90,798 | $900 | 7.1% | +7.1% | $45,399 |
| 3BR | $174,352 | $1,230 | 5.1% | +7.4% | $58,117 |
Market Trends
Home Value History (with trend line)
📊 How Does 66427 Compare?
| Metric | 66427 | Frankfort | Manhattan, KS | Kansas |
|---|---|---|---|---|
| Home Value | $182,253 | $182,253 | N/A | $237,409 |
| 5-Year CAGR | 7.6% | 7.6% | N/A | 7.2% |
| Avg Rent | $810 | $810 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66427 (Frankfort, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $182,253 |
| Monthly Rent | $810 |
| Price-to-Rent | 18.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.5% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +13.6% ▲ |
| 3-Year CAGR | +6.4% ▲ |
| 5-Year CAGR | +7.6% ▲ |
| 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%) exceeds the estimated cap rate (3.5%). 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 66427
Population: 1,241
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 66427
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
How much do tenants pay in Frankfort, KS?
Rent in Frankfort, KS is around $810/mo. The resulting rent-to-value relationship with $182K pricing is reasonable for most investor models.
What are home prices like in Frankfort, KS?
The median home value in Frankfort, KS is roughly $182K. That puts it reasonable relative to the KS statewide average.
What real estate strategy is ideal for Frankfort, KS?
Frankfort, KS investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($182K prices, $810/mo rents) make it a reasonable choice.
Does Frankfort, KS favor landlords or tenants?
Rental owners in Frankfort, KS deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Is real estate in Frankfort, KS a good investment right now?
Frankfort, KS rates 3.0/5 for investability. With median values at $182K and rents near $810/mo, the market offers reasonable fundamentals for rental investors.
You know 66427 now. You don’t know where it ranks.
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