Real Estate Investing in Grinnell, Kansas (67738)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 67738 (Grinnell, 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: 14.5% 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 Grinnell, KS (67738)?
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Market Analysis: 67738 Grinnell
The 67738 ZIP in Grinnell, KS is a local-operator market. Outside capital chasing a $152K entry has to pair deep knowledge with the discount.
From an investor standpoint, the numbers look inviting — $152K purchase price, 0.0% nominal cap — the work to hit that pro forma in 67738 is substantial and deserves full respect.
Regionally, 67738 sits on the difficult end of the KS spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
The 67738 ZIP's population of 614 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
The 67738 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Grinnell:
Market Trends
Home Value History (with trend line)
📊 How Does 67738 Compare?
| Metric | 67738 | Grinnell | Kansas |
|---|---|---|---|
| Home Value | $152,436 | $152,436 | $237,409 |
| 5-Year CAGR | 2.7% | 2.7% | 7.2% |
| Avg Rent | $792 | $792 | - |
| Cap Rate | 4.1% | 4.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 67738 (Grinnell, KS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $152,436 |
| Monthly Rent | $792 |
| Price-to-Rent | 16.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.1% |
| 5-Year IRR | 6.8% |
📈 Home Appreciation
| 1-Year | +4.3% ▲ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +2.7% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 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 (4.1%). 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 67738
Population: 614
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 67738
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.
Frequently Asked Questions
What type of investing works in Grinnell, KS?
Investors usually favor careful cash-flow rentals with hands-on management in Grinnell, KS. With home values at $152K and rents near $792/mo, other strategies can work but produce stable rather than outsized returns.
Is housing expensive in Grinnell, KS?
Grinnell, KS home values average about $152K. That price point suits investors targeting rentals with $792/mo in monthly income.
How strong is Grinnell, KS for real estate investors?
Grinnell, KS rates 3.0/5 for investability. With median values at $152K and rents near $792/mo, the market offers reasonable fundamentals for rental investors.
Does a duplex house hack pencil in Grinnell, KS?
The a challenging house-hack environment in Grinnell, KS reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What is the typical vacancy rate in Grinnell, KS?
Occupancy in Grinnell, KS runs steady with elevated vacancy. Well-priced units at $792/mo lease on reasonable timelines.
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