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

Investor ownership in Wallace County is exceptionally high, with landlords controlling 237 of the 449 single-family residential properties, a market penetration of 52.8%.

The market is overwhelmingly dominated by individual investors, who own 206 properties (86.9%), compared to just 34 properties (14.3%) held by companies.

A defining characteristic of this market is its complete lack of leverage; 100% of the 237 investor-owned properties are held in cash, with zero properties reported as financed.

The investor portfolio is entirely focused on generating rental income, as all 237 properties are classified as non-owner-occupied.

The landlord base is broad and fragmented, comprising 300 distinct entities for only 237 properties, with 267 of these being individual landlords.

There was no recorded SFR purchase activity for either landlords or traditional homeowners in Q4 2025, making a direct price comparison impossible.

The absence of transactions in the current quarter suggests a highly illiquid or static real estate market in Wallace County.

This inactivity is not a new phenomenon; data for the 2020-2023 period also shows zero properties were acquired by landlords, indicating a long-term lack of sales velocity.

Without sales data, it is not possible to analyze pricing trends, appreciation, or the typical discount investors might achieve compared to homeowners.

The market's current state appears to be one of stable, long-term holdings rather than active trading or acquisition.

Investor purchasing came to a complete standstill in Wallace County during Q4 2025, with landlords acquiring zero of the zero total SFR properties sold.

This inactivity was universal across all investor sizes; mom-and-pop landlords (Tiers 01-04) made up 0.0% of the non-existent purchase volume.

Reflecting the overall market structure, institutional investors (Tier 09) also recorded zero purchases during the quarter.

The lack of single-property purchases (Tier 01) indicates that no new landlords entered the Wallace County rental market in Q4 2025.

The data points to a market characterized by buy-and-hold strategies, with no new inventory being added to investor portfolios in the recent period.

The investor landscape in Wallace County is exclusively composed of small-scale landlords, with mom-and-pop investors (1-10 properties) owning 100% of the 237 investor-held SFRs.

First-time or single-property landlords form the bedrock of the market, with 188 properties (76.7%) held in Tier 01 portfolios.

The entire investor portfolio is concentrated at the smallest end of the scale; Tiers 01-04 (1-10 properties) account for every single investor-owned property.

There is a complete absence of large-scale or institutional capital, as investors in Tier 09 (1,000+ properties) own zero properties in the county.

This ownership structure highlights a highly localized and fragmented market, devoid of the corporate or institutional presence seen in larger metropolitan areas.

Individual investors maintain majority control across every single active ownership tier, underscoring their dominance in the Wallace County market.

There is no crossover point where companies become the majority owner; even in the largest portfolios (Tier 04, 6-10 properties), individuals own 7 of the 8 properties (87.5%).

Company ownership remains a small fraction of the market, holding just 28 of 188 properties (14.7%) in the single-property tier and 3 of 14 properties (21.4%) in the 3-5 property tier.

The data consistently shows that as portfolio sizes increase slightly, the overwhelming majority owner remains individuals, not corporate entities.

This pattern reinforces the characterization of Wallace County as a market driven by local, individual landlords rather than formalized business investors.

Investor ownership in Wallace County is geographically hyper-concentrated, with the 67758 zip code alone accounting for 208 of the 237 investor-owned properties (87.8%).

The 67758 zip code also has the highest rate of investor penetration, where 57.5% of all single-family residential properties are investor-owned.

The remaining investor properties are sparsely distributed, with the 67762 zip code holding a distant second place with only 20 properties.

In this market, the areas with the highest count of investor properties are also the areas with the highest ownership rates, showing a strong correlation.

This concentration suggests that a specific town or community within the 67758 zip code is the primary hub for rental housing in the county.

Historical transaction data for landlords in Wallace County is unavailable, which prevents a long-term analysis of market dynamics.

It is not possible to determine the historical buy/sell ratio to assess whether landlords have been net accumulators or sellers of property over time.

Analysis of inter-landlord trading is also not feasible, so the percentage of transactions occurring between investors cannot be calculated.

Similarly, a comparison of historical average buy prices versus sell prices to infer potential profit margins cannot be performed.

The market appears to be characterized by long-term holds, as evidenced by both the lack of historical transaction data and zero recent activity.

The transaction market in Wallace County was dormant in Q4 2025, with zero transactions recorded for landlords out of zero total market transactions.

As a result, the landlord share of all transactions for the quarter was 0.0%, indicating no properties changed hands among investors or from other seller types.

Activity was non-existent across all investor tiers, from single-property owners to the largest mom-and-pop landlords in the county.

With no purchases made, the level of inter-landlord trading was zero, meaning no properties were bought from other landlords.

The absence of sales prevents any analysis of purchase prices by tier, reinforcing the picture of a buy-and-hold rental market with very low liquidity.