Real Estate Investing in Burns, Kansas (66840)
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Should you buy in 66840 (Burns, 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: 24.2% 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 Burns, KS (66840)?
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Market Analysis: 66840 Burns
The 66840 ZIP covers a section of Burns that demands careful diligence. Prices near $206K look accessible, but the work to make a deal cash flow is real.
Put differently, the numbers look inviting — $206K purchase price, 0.0% nominal cap — the work to hit that pro forma in 66840 is substantial and deserves full respect.
Nearby ZIPs in Burns have seen price recovery that 66840 has not matched. Butler County data supports the view that the spread is structural rather than temporary.
The 66840 ZIP's population of 554 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
Strategically, 66840 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Burns:
Market Trends
Home Value History (with trend line)
📊 How Does 66840 Compare?
| Metric | 66840 | Burns | Wichita, KS | Kansas |
|---|---|---|---|---|
| Home Value | $205,672 | $205,672 | N/A | $237,409 |
| 5-Year CAGR | 5.1% | 5.1% | N/A | 7.2% |
| Avg Rent | $792 | $792 | N/A | - |
| Cap Rate | 3.0% | 3.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66840 (Burns, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $205,672 |
| Monthly Rent | $792 |
| Price-to-Rent | 21.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +10.6% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +6.6% ▲ |
🏠 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 (3.0%). 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 66840
Population: 554
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
Does Burns, KS make sense for an investment property?
With a 3.0/5 investability score, Burns, KS ranks as a solid market for rental property investors. Median prices of $206K and rents of $792/mo drive the underlying numbers.
What are vacancy rates like in Burns, KS?
Vacancy in Burns, KS is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $792/mo.
How much does a house cost in Burns, KS?
In Burns, KS the median home value sits at $206K. Against the broader KS market, that reads as reasonable for most investors.
Is rental property easy to operate in Burns, KS?
Landlord-friendliness in Burns, KS is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What is the average monthly rent in Burns, KS?
Expect rents around $792/mo per month in Burns, KS. With home values at $206K, the yield math works out to reasonable levels for rental investors.
You know 66840 now. You don’t know where it ranks.
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