Leavenworth (KS) Investor Pulse Report (2025-Q4)

In Leavenworth County, investors hold a significant 3,284 single-family residential properties, representing 15.5% of the total 21,169 SFRs in the market.

The market is dominated by individual investors, who own 2,259 properties (68.8%), more than double the 1,050 properties (32.0%) held by companies. This is reflected in the landlord entity counts, where 2,710 individual landlords far outnumber the 407 company landlords.

A strong indicator of financial stability in the investor market is the preference for cash-owned properties. Investors hold 2,031 properties without financing, a 62.1% lead over the 1,253 financed properties.

The vast majority of the investor portfolio is actively used for rental income. A total of 3,149 properties are rented, which accounts for 95.9% of all investor-owned SFRs in the county, signaling a clear focus on buy-and-hold strategies.

The ratio of individual to company landlords stands at approximately 6.7 to 1, demonstrating that the rental market's foundation is built upon a large base of small, independent operators rather than large corporations.

In Q4 2025, the pricing power of landlords nearly vanished, as they paid an average of $351,812 per property, just 0.6% less than the $353,962 paid by traditional homeowners. This equates to a slim discount of only $2,150.

This near-parity in pricing is part of a highly volatile trend. It follows a Q3 where landlords surprisingly paid a 7.3% premium over homeowners ($421,636 vs $393,120), and a Q2 where they enjoyed a substantial 16.0% discount ($312,411 vs $372,062).

The Q4 2025 average acquisition price of $351,812 for landlords represents a significant appreciation over historical periods. It is 27.3% higher than the average price paid during the 2020-2023 pandemic-era boom ($276,445).

Comparing year over year, the average landlord acquisition price in 2025 ($361,280) is 13.3% higher than the average price in 2024 ($318,787), signaling sustained price growth in the market for investor-acquired properties.

The fluctuating premium and discount rates quarter-over-quarter suggest that landlord purchasing strategies in Leavenworth County are highly adaptive to changing market conditions, rather than being based on a consistent discount model.

Landlord acquisition activity accounted for 9.9% of the total market in Q4 2025, with investors purchasing 29 of the 292 SFRs sold in Leavenworth County.

The quarter saw the entrance of 12 new single-property landlords, who collectively purchased 8 homes. This group represented the most active tier of buyers, making up 27.6% of all investor acquisitions.

Small-scale landlords (1-10 properties) dominated Q4 purchasing, acquiring a combined 15 homes. This represents 51.7% of all landlord activity, reinforcing their role as the primary drivers of investor demand.

Mid-to-large size investors also showed notable activity, with the 21-50 property tier buying 5 homes (17.2%) and the 101-1000 tier buying 6 homes (20.7%).

Institutional investors with over 1,000 properties had a minimal impact, purchasing only 2 properties. Their 6.9% share of acquisitions was dwarfed by the activity from smaller, local landlords.

The investor landscape in Leavenworth County is overwhelmingly dominated by small landlords. Those owning 1-10 properties (Tiers 01-04) collectively hold 2,733 homes, which is 81.1% of the entire investor-owned SFR market.

Single-property landlords are the bedrock of the market, owning 1,745 properties. This tier alone accounts for 51.8% of all investor-owned housing, more than all other tiers combined.

Conversely, institutional investors (1,000+ properties) have a very small footprint, owning just 63 properties. Their 1.9% market share is identical to that of large landlords in the 101-1000 property tier.

Mid-size landlords (11-100 properties) represent a smaller but still significant segment, controlling 511 properties, or 15.2% of the investor-owned stock.

Pricing strategies appear to vary dramatically by scale. Q4 transaction data reveals that new single-property landlords paid an average of $438,357, while institutional investors acquired properties for an average of $192,955, a 56.0% discount, suggesting a focus on different types of assets or acquisition channels.

A clear ownership pattern emerges across portfolio sizes in Leavenworth County: individuals form the backbone of the small-landlord market, while companies dominate the larger portfolios.

Individuals overwhelmingly control the entry-level tiers, owning 1,589 (90.1%) of single-property portfolios and 184 (71.6%) of two-property portfolios. Their majority ownership continues up to the 6-10 property tier (58.0%).

The strategic shift to corporate ownership happens decisively at the 11-20 property tier. In this category, companies own 115 properties, a 65.0% majority, marking the point where professionalization and scale begin to take over.

This trend intensifies in larger tiers. For portfolios of 21-50 properties, company ownership becomes almost absolute, with companies holding 283 properties, or 89.6% of the stock in that tier.

This data illustrates a typical investor lifecycle, where individuals initiate and grow small portfolios before either stopping or incorporating to achieve greater scale and legal protection.

The 66048 zip code is the epicenter of real estate investment in Leavenworth County, containing 1,993 investor-owned properties. This single area accounts for 60.7% of all investor-held SFRs in the county.

There is a clear distinction between the areas with the most investor properties and those with the highest investor saturation. The 66052 zip code leads the county in ownership percentage at 20.6%, followed closely by 66020 at 19.9%, indicating high rental demand in those areas.

Following the leader 66048, other key areas for investor ownership by count include 66086 (437 properties), 66043 (338 properties), and 66007 (273 properties).

The data highlights concentrated pockets of high investor activity. Four of the top five zip codes by ownership rate—66052 (20.6%), 66020 (19.9%), 66048 (19.2%), and 66086 (15.4%)—all surpass the county-wide investor ownership rate of 15.5%.

The data for zip code 66002 appears incomplete, showing 'nan' properties and preventing a full analysis of its market share or ranking.

The overall investor market in Leavenworth County continued its expansion in Q4 2025, with landlords acting as net buyers. They purchased 37 properties while selling only 25, resulting in a net addition of 12 properties to their collective portfolio.

This net-buyer trend has been consistent throughout the year, with landlords adding a net 123 properties in 2025 and 151 properties in 2024, demonstrating sustained portfolio growth over the past two years.

However, a significant divergence in strategy appeared at the institutional level in the most recent quarter. Investors in the 1,000+ property tier became net sellers, divesting 5 properties while acquiring only 3.

This move by institutional players marks a sharp reversal from their behavior earlier in the year. They were net buyers in Q3 (net +2) and Q2 (net +1), and for the full year of 2025, they remain slight net buyers (net +4). The Q4 shift could indicate a new trend of divestment.

Total transaction volume for all landlords shows a slight slowdown. In 2025, landlords have bought 221 properties, down from 288 in 2024, a decrease of 23.3% in acquisition velocity.

In Q4 2025, landlords were a party to 37 of the 446 total SFR transactions in Leavenworth County, capturing an 8.3% share of market activity.

New single-property landlords were the most active group, conducting 13 transactions. Their average purchase price of $438,357 was the highest among all investor tiers, suggesting they compete directly with traditional homebuyers for market-rate properties.

In stark contrast, institutional investors (1000+ tier) demonstrated a different acquisition strategy, paying an average of only $192,955 per property. This 56.0% price difference compared to the smallest landlords indicates a focus on lower-cost assets or off-market deals.

Inter-landlord trading was a key strategy for larger investors. The 101-1000 property tier acquired 5 of its 6 properties (83.3%) from other landlords, signaling portfolio consolidation within the professional investor community.

Despite being the most active buyers, new single-property landlords rarely purchased from other investors, with only 1 of their 13 acquisitions (7.7%) coming from another landlord, indicating they primarily buy from the open market.