Real Estate Investing in Cherokee, Kansas (66724)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66724 (Cherokee, KS)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 26.7% 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 Cherokee, KS (66724)?
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Market Analysis: 66724 Cherokee
This part of Crawford County is not an easy win. The 66724 ZIP registers softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 66724 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 66724's metrics run below Crawford County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
On the rental side, 986 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 66724 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 Cherokee:
Market Trends
Home Value History (with trend line)
📊 How Does 66724 Compare?
| Metric | 66724 | Cherokee | Pittsburg, KS | Kansas |
|---|---|---|---|---|
| Home Value | $119,304 | $59,652 | N/A | $237,409 |
| 5-Year CAGR | 2.6% | 2.6% | N/A | 7.2% |
| Avg Rent | $792 | $792 | N/A | - |
| Cap Rate | 5.2% | 5.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66724 (Cherokee, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $119,304 |
| Monthly Rent | $792 |
| Price-to-Rent | 12.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.0% |
| Cap Rate | 5.2% |
| 5-Year IRR | 7.8% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +2.6% ▲ |
| 10-Year CAGR | +4.3% ▲ |
🏠 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 (5.2%). 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 66724
Population: 986
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 66724
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
Frequently Asked Questions
How much does a house cost in Cherokee, KS?
Cherokee, KS median home values land near $119K. That is reasonable territory for investors looking at $792/mo-per-month rentals.
Are eviction rules reasonable in Cherokee, KS?
Landlord-friendliness in Cherokee, KS is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How strong is tenant demand in Cherokee, KS?
The renter base in Cherokee, KS is reasonable for the $792/mo price point. Screening well and pricing to market typically yields steady tenants.
Can I house hack in Cherokee, KS?
For house hackers, Cherokee, KS is a challenging. The $792/mo rent on a unit helps defray the mortgage on a $119K property.
What real estate strategy is ideal for Cherokee, KS?
Investors usually favor careful cash-flow rentals with hands-on management in Cherokee, KS. With home values at $119K and rents near $792/mo, other strategies can work but produce consistent rather than outsized returns.
You know 66724 now. You don’t know where it ranks.
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How 66724 ranks in Pittsburg, KS
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