Real Estate Investing in Olpe, Kansas (66865)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 66865 (Olpe, 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: 16.9% 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 Olpe, KS (66865)?
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Market Analysis: 66865 Olpe
ZIP 66865 inside Lyon County looks affordable on the surface — median value of $288K — but the discount exists for reasons that a careful buyer should understand before committing.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $288K asset, 66865 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 66865 among KS's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Meanwhile, 1,189 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.
Experienced landlords with local relationships tend to find 66865 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 Olpe:
Property Strategy for 66865
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $172,683 | $1,150 | 4.8% | +8.5% | $86,342 |
| 3BR | $285,565 | $1,530 | 3.9% | +8.6% | $95,188 |
Market Trends
Home Value History (with trend line)
📊 How Does 66865 Compare?
| Metric | 66865 | Olpe | Emporia, KS | Kansas |
|---|---|---|---|---|
| Home Value | $288,267 | $288,267 | N/A | $237,409 |
| 5-Year CAGR | 4.7% | 4.7% | N/A | 7.2% |
| Avg Rent | $1,035 | $1,035 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
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 66865 (Olpe, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $288,267 |
| Monthly Rent | $1,035 |
| Price-to-Rent | 23.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 7.5% |
📈 Home Appreciation
| 1-Year | +1.3% ▲ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +6.0% ▲ |
🏠 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 (2.8%). 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 66865
Population: 1,189
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 66865
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 are vacancy rates like in Olpe, KS?
Vacancy in Olpe, KS is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,035/mo.
Is Olpe, KS a friendly market for rental owners?
For rental operators, Olpe, KS rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Is real estate in Olpe, KS a good investment right now?
Olpe, KS rates 3.0/5 for investability. With median values at $288K and rents near $1,035/mo, the market offers reasonable fundamentals for rental investors.
What strategy should investors use in Olpe, KS?
Investors usually favor careful cash-flow rentals with hands-on management in Olpe, KS. With home values at $288K and rents near $1,035/mo, other strategies can work but produce reliable rather than outsized returns.
How strong are rents in Olpe, KS?
The typical rental in Olpe, KS commands about $1,035/mo monthly. That rent profile stable cash flow against the $288K purchase basis.
You know 66865 now. You don’t know where it ranks.
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How 66865 ranks in Emporia, KS
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