Real Estate Investing in Carroll, Nebraska (68723)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 68723 (Carroll, NE)? 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: 13.6% 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 Carroll, NE (68723)?
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Market Analysis: 68723 Carroll
The 68723 ZIP in Carroll, NE is a local-operator market. Outside capital chasing a $249K entry has to pair deep knowledge with the discount.
The 68723 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
ZIP 68723's metrics run below Wayne County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Resident income in 68723 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 68723 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 Carroll:
Market Trends
Home Value History (with trend line)
📊 How Does 68723 Compare?
| Metric | 68723 | Carroll | Nebraska |
|---|---|---|---|
| Home Value | $248,716 | $248,716 | $269,423 |
| 5-Year CAGR | 6.6% | 6.6% | 6.7% |
| Avg Rent | $909 | $909 | - |
| Cap Rate | 2.9% | 2.9% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 68723 (Carroll, NE). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $248,716 |
| Monthly Rent | $909 |
| Price-to-Rent | 22.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +6.4% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 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 (2.9%). 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 68723
Population: 633
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What do landlords charge for rent in Carroll, NE?
Rent in Carroll, NE is around $909/mo. The resulting rent-to-value relationship with $249K pricing is reasonable for most investor models.
Is vacancy a concern in Carroll, NE?
Expect elevated vacancy in Carroll, NE. Rents at $909/mo are absorbed by the tenant base without meaningful lag.
What is the smart move for investors in Carroll, NE?
In Carroll, NE the durable play is typically careful cash-flow rentals with hands-on management. The combination of $249K prices and $909/mo rents suits that approach.
Can I house hack in Carroll, NE?
Carroll, NE offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $909/mo rent level.
What is the average home sale price in Carroll, NE?
Typical homes in Carroll, NE go for around $249K. The 5-year CAGR of 0.0% stable price movement.
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