Real Estate Investing in Melvern, Kansas (66510)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66510 (Melvern, 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: 14.8% 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 Melvern, KS (66510)?
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Market Analysis: 66510 Melvern
Investors eyeing 66510 need to respect the fundamentals at play. Home values of $222K come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 66510 reflects the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 66510 sits on the difficult end of the KS spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 66510 includes headwinds that any investor should price in. Income distribution skews lower than Melvern averages, and tenant stability requires active management.
The right play in 66510 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Melvern:
Market Trends
Home Value History (with trend line)
📊 How Does 66510 Compare?
| Metric | 66510 | Melvern | Topeka, KS | Kansas |
|---|---|---|---|---|
| Home Value | $222,215 | $222,215 | N/A | $237,409 |
| 5-Year CAGR | 9.1% | 9.1% | N/A | 7.2% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66510 (Melvern, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $222,215 |
| Monthly Rent | $873 |
| Price-to-Rent | 21.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 12.2% |
📈 Home Appreciation
| 1-Year | +15.8% ▲ |
| 3-Year CAGR | +9.9% ▲ |
| 5-Year CAGR | +9.1% ▲ |
| 10-Year CAGR | +10.3% ▲ |
🏠 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 (3.1%). 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 66510
Population: 619
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 66510
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
What are rental rates like in Melvern, KS?
Rental rates in Melvern, KS average $873/mo. Tenant demand and $222K home values make the yield look reasonable by investor standards.
How strong is the working-renter base in Melvern, KS?
The renter base in Melvern, KS is reasonable for the $873/mo price point. Screening well and pricing to market typically yields stable tenants.
How much should I expect to pay for a home in Melvern, KS?
Expect median prices around $222K in Melvern, KS. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
How high is vacancy risk in Melvern, KS?
Melvern, KS carries elevated vacancy risk. Expect stable absorption at market rents of $873/mo.
Is Melvern, KS landlord-friendly?
KS law landlord-friendly for landlords, and Melvern inherits those rules. Investors should still review local ordinances for rental licensing.
You know 66510 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 66510 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 66510 ranks in Topeka, KS
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