Real Estate Investing in Osage City, Kansas (66523)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66523 (Osage City, 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: 12.6% 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 Osage City, KS (66523)?
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Market Analysis: 66523 Osage City
Investors eyeing 66523 need to respect the fundamentals at play. Home values of $195K come alongside slower price movement and elevated management overhead.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $195K asset, 66523 is the wrong submarket. If the plan prices in friction, the yield can still work.
ZIP 66523's metrics run below Osage County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Who lives in 66523 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 66523 is an operator game, not a passive one. Put differently, entry prices of $195K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Osage City:
Property Strategy for 66523
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $124,649 | $930 | 5.4% | +8.8% | $62,324 |
| 3BR | $200,271 | $1,220 | 4.4% | +9.5% | $66,757 |
| 4BR | $239,318 | $1,250 | 3.8% | +9.1% | $59,830 |
Market Trends
Home Value History (with trend line)
📊 How Does 66523 Compare?
| Metric | 66523 | Osage City | Topeka, KS | Kansas |
|---|---|---|---|---|
| Home Value | $194,642 | $194,642 | N/A | $237,409 |
| 5-Year CAGR | 8.1% | 8.1% | N/A | 7.2% |
| Avg Rent | $837 | $837 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
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 66523 (Osage City, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $194,642 |
| Monthly Rent | $837 |
| Price-to-Rent | 19.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 11.4% |
📈 Home Appreciation
| 1-Year | +11.1% ▲ |
| 3-Year CAGR | +7.5% ▲ |
| 5-Year CAGR | +8.1% ▲ |
| 10-Year CAGR | +8.5% ▲ |
🏠 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 (3.4%). 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 66523
Population: 3,873
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 66523
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 kind of vacancy should I budget for in Osage City, KS?
Osage City, KS vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is rental property easy to operate in Osage City, KS?
Landlord-friendliness in Osage City, KS is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is real estate in Osage City, KS a good investment right now?
Osage City, KS rates 3.0/5 for investability. With median values at $195K and rents near $837/mo, the market offers reasonable fundamentals for rental investors.
What strategy should investors use in Osage City, KS?
A careful cash-flow rentals with hands-on management strategy Osage City, KS best. The market produces predictable results for that approach at the $195K price point.
Are rents high in Osage City, KS?
Rents in Osage City, KS run near $837/mo. Compared with median home prices of $195K that produces solid gross yields for typical rentals.
You know 66523 now. You don’t know where it ranks.
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How 66523 ranks in Topeka, KS
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