Real Estate Investing in Colby, Kansas (67701)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 67701 (Colby, 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: 12.2% 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 Colby, KS (67701)?
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Market Analysis: 67701 Colby
Investors eyeing 67701 need to respect the fundamentals at play. Home values of $187K come alongside slower price movement and elevated management overhead.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 67701 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
In the broader KS picture, 67701 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Employment concentration in 67701 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 67701 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 Colby:
Property Strategy for 67701
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $106,563 | $880 | 5.9% | +7.7% | $53,281 |
| 3BR | $169,872 | $1,120 | 4.7% | +6.4% | $56,624 |
| 4BR | $209,214 | $1,280 | 4.4% | +6.2% | $52,303 |
| 5BR | $263,239 | — | — | +6.1% | $52,648 |
Market Trends
Home Value History (with trend line)
📊 How Does 67701 Compare?
| Metric | 67701 | Colby | Kansas |
|---|---|---|---|
| Home Value | $187,095 | $187,095 | $237,409 |
| 5-Year CAGR | 5.3% | 5.3% | 7.2% |
| Avg Rent | $792 | $792 | - |
| Cap Rate | 3.3% | 3.3% | - |
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 67701 (Colby, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $187,095 |
| Monthly Rent | $792 |
| Price-to-Rent | 19.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +5.5% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 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 (3.3%). 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 67701
Population: 6,166
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 67701
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
Can owner-occupants cash flow in Colby, KS?
Colby, KS is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $187K price point reasonable to enter.
What is the tenant pool like in Colby, KS?
Expect a solid tenant pool in Colby, KS. The rental market absorbs $792/mo rents without meaningful friction.
Is rental property easy to operate in Colby, KS?
Landlord-friendliness in Colby, KS is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Does Colby, KS make sense for an investment property?
The 3.0/5 investability rating in Colby, KS reflects its $187K prices and $792/mo rents. Investors generally consider it a solid option within KS.
How do home values compare in Colby, KS?
In Colby, KS the median home value sits at $187K. Against the broader KS market, that reads as reasonable for most investors.
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