Best ZIP Codes for Cash Flow in Indianapolis-Carmel-Anderson, IN (2026)

Ranked by cap rate — the annual return on the purchase price before financing. ZIPs that also clear the 1% rule are marked.

# ZIP City Home value Rent Cap rate 5-yr growth
1 46016 1% rule Anderson, IN $84,473 $959 8.85% 7.0%
2 46218 1% rule Indianapolis, IN $115,342 $1,280 8.66% 6.0%
3 46222 Indianapolis, IN $126,403 $1,234 7.61% 4.9%
4 46203 Indianapolis, IN $168,872 $1,528 7.06% 3.3%
5 46241 Indianapolis, IN $157,981 $1,338 6.61% 4.9%
6 46235 Indianapolis, IN $218,714 $1,822 6.50% 5.4%
7 46048 Ingalls, IN $224,240 $1,847 6.42% 6.2%
8 46063 Orestes, IN $119,790 $981 6.39% —
9 46229 Indianapolis, IN $219,365 $1,795 6.38% 4.8%
10 46231 Indianapolis, IN $257,686 $2,095 6.34% 4.8%
11 46225 Indianapolis, IN $176,170 $1,411 6.25% 2.8%
12 46201 Indianapolis, IN $154,963 $1,225 6.17% 2.8%
13 46226 Indianapolis, IN $162,871 $1,228 5.88% 4.7%
14 46234 Indianapolis, IN $281,988 $2,117 5.85% 4.4%
15 46184 Whiteland, IN $271,496 $1,978 5.68% 5.2%
16 46113 Indianapolis, IN $280,716 $2,007 5.58% 4.5%
17 46208 Indianapolis, IN $175,906 $1,239 5.49% 2.9%
18 46107 Beech Grove, IN $192,593 $1,340 5.43% 5.2%
19 46157 Monrovia, IN $307,999 $2,085 5.28% 5.2%
20 46239 Indianapolis, IN $295,967 $1,945 5.13% 3.9%
21 46012 Anderson, IN $187,743 $1,231 5.11% 6.7%
22 46237 Indianapolis, IN $261,809 $1,712 5.10% 4.4%
23 46103 Amo, IN $197,241 $1,287 5.09% 5.2%
24 46221 Indianapolis, IN $210,237 $1,345 4.99% 6.0%
25 46131 Franklin, IN $286,619 $1,821 4.96% 5.8%

Ranked from Repit’s own ZIP-level data — Zillow home values and rents, HUD fair-market rents where Zillow has no coverage, and U.S. Census vacancy. Cap rate is gross: annual rent over purchase price, before financing and expenses. Every ZIP above links to its full free page. How we calculate this →

Same metro, different strategy

Appreciation in Indianapolis-Carmel-Anderson, IN  ·  Affordable in Indianapolis-Carmel-Anderson, IN

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