Real Estate Investing in Neosho Rapids, Kansas (66864)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66864 (Neosho Rapids, KS)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.3% vacancy may signal weakening demand.
• 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 Neosho Rapids, KS (66864)?
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Market Analysis: 66864 Neosho Rapids
This part of Lyon County is not an easy win. The 66864 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
For an experienced owner, 66864 can be a a strong candidate for hunting ground — but the discount at $178K reflects genuine risk that outside investors often underestimate.
Regionally, 66864 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 66864 ZIP's population of 387 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reflects the need for careful underwriting.
New investors are better served looking at Neosho Rapids's stable or hybrid ZIPs before stepping into 66864. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Neosho Rapids:
Market Trends
Home Value History (with trend line)
📊 How Does 66864 Compare?
| Metric | 66864 | Neosho Rapids | Emporia, KS | Kansas |
|---|---|---|---|---|
| Home Value | $177,847 | $177,847 | N/A | $237,409 |
| 5-Year CAGR | 5.0% | 5.0% | N/A | 7.2% |
| Avg Rent | $810 | $810 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 66864 (Neosho Rapids, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $177,847 |
| Monthly Rent | $810 |
| Price-to-Rent | 18.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 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 (3.6%). 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 66864
Population: 387
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 66864
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 1,388 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical rental rate in Neosho Rapids, KS?
The typical rental in Neosho Rapids, KS commands about $810/mo monthly. That rent profile reliable cash flow against the $178K purchase basis.
Are landlord laws favorable in Neosho Rapids, KS?
Rental owners in Neosho Rapids, KS deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
How does Neosho Rapids, KS rate as a rental market?
Neosho Rapids, KS rates 3.0/5 for investability. With median values at $178K and rents near $810/mo, the market offers reasonable fundamentals for rental investors.
How should investors approach Neosho Rapids, KS?
In Neosho Rapids, KS the substantial play is typically careful cash-flow rentals with hands-on management. The combination of $178K prices and $810/mo rents suits that approach.
What is the rental occupancy rate in Neosho Rapids, KS?
Occupancy in Neosho Rapids, KS runs steady with elevated vacancy. Well-priced units at $810/mo lease on reasonable timelines.
You know 66864 now. You don’t know where it ranks.
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How 66864 ranks in Emporia, KS
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