Real Estate Investing in Wakarusa, Kansas (66546)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66546 (Wakarusa, 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 price-to-rent: Price-to-rent ratio 29.4 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Wakarusa, KS (66546)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 66546 Wakarusa
Looking more closely, ZIP 66546 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $327K median. It rewards specialists, not generalists.
Rent of $927/mo on a $327K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 66546 sits below the stated 0.0% once reality is priced in.
In practical terms, 66546 offers a low basis, the region around Wakarusa has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 66546 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 66546 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Wakarusa:
Market Trends
Home Value History (with trend line)
📊 How Does 66546 Compare?
| Metric | 66546 | Wakarusa | Topeka, KS | Kansas |
|---|---|---|---|---|
| Home Value | $326,679 | $326,679 | N/A | $237,409 |
| 5-Year CAGR | 6.6% | 6.6% | N/A | 7.2% |
| Avg Rent | $927 | $927 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
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 66546 (Wakarusa, KS). Anonymous, moderated, never written by AI.
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Property managers serving Shawnee County
Manage rentals here? List your business →WCW Property Management specializes in single and multi-family dwellings and HOAs in Northeast Kansas, Wichita, and Kansas City, KS and MO, offering services for tenants, owners, and investors. summary from their website
PURE Property Management of Kansas offers property management services. summary from their website
Rental Management Solutions provides property management services in Northeast Kansas, including rental search, tenant portal, and owner FAQs. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $326,679 |
| Monthly Rent | $927 |
| Price-to-Rent | 29.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | +6.8% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 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 (2.2%). 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 66546
Population: 1,182
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 66546
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,242 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are home prices like in Wakarusa, KS?
Median home price in Wakarusa, KS is near $327K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
Can owner-occupants cash flow in Wakarusa, KS?
Wakarusa, KS is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $327K price point reasonable to enter.
Are renters plentiful in Wakarusa, KS?
Wakarusa, KS draws a stable base of working renters. Demand at the $927/mo rent level is reasonable for standard single-family and small multi rentals.
What are rental rates like in Wakarusa, KS?
Rental rates in Wakarusa, KS average $927/mo. Tenant demand and $327K home values make the yield look reasonable by investor standards.
Is KS a landlord-friendly state?
Landlord-friendliness in Wakarusa, KS is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 66546 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 66546 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 66546 ranks in Topeka, KS
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