Real Estate Investing in Leonardville, Kansas (66449)
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Should you buy in 66449 (Leonardville, 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.
- High vacancy: 21.3% of homes vacant — above national norms.
• 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 Leonardville, KS (66449)?
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Market Analysis: 66449 Leonardville
This part of Riley County is not an easy win. The 66449 ZIP stands at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 66449 is healthy only for operators who understand what they are buying. A $234K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 66449 among KS's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 66449 ZIP's population of 981 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
New investors are better served looking at Leonardville's stable or hybrid ZIPs before stepping into 66449. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Leonardville:
Property Strategy for 66449
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $153,525 | $930 | 4.4% | +7.3% | $76,762 |
| 3BR | $223,773 | $1,290 | 4.2% | +7.6% | $74,591 |
Market Trends
Home Value History (with trend line)
📊 How Does 66449 Compare?
| Metric | 66449 | Leonardville | Manhattan, KS | Kansas |
|---|---|---|---|---|
| Home Value | $234,319 | $234,319 | N/A | $237,409 |
| 5-Year CAGR | 7.0% | 7.0% | N/A | 7.2% |
| Avg Rent | $837 | $837 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66449 (Leonardville, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $234,319 |
| Monthly Rent | $837 |
| Price-to-Rent | 23.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 9.8% |
📈 Home Appreciation
| 1-Year | +16.4% ▲ |
| 3-Year CAGR | +9.3% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 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 (2.8%). 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 66449
Population: 981
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
Frequently Asked Questions
How do home values compare in Leonardville, KS?
Homes in Leonardville, KS typically sell near $234K. Prices have moved at a 0.0% 5-year CAGR, which consistent long-term demand.
Should investors worry about vacancy in Leonardville, KS?
Vacancy in Leonardville, KS is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $837/mo.
Are tenants stable in Leonardville, KS?
Leonardville, KS draws a reliable base of working renters. Demand at the $837/mo rent level is reasonable for standard single-family and small multi rentals.
Are landlord laws favorable in Leonardville, KS?
Rental owners in Leonardville, KS deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
How does Leonardville, KS rate as a rental market?
Leonardville, KS rates 3.0/5 for investability. With median values at $234K and rents near $837/mo, the market offers reasonable fundamentals for rental investors.
You know 66449 now. You don’t know where it ranks.
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