Real Estate Investing in Pendleton, Indiana (46064)
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Should you buy in 46064 (Pendleton, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Pendleton, IN (46064)?
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Market Analysis: 46064 Pendleton
The 46064 ZIP covers a section of Pendleton that demands careful diligence. Prices near $341K look accessible, but the work to make a deal cash flow is real.
Put differently, the numbers look inviting — $341K purchase price, 0.0% nominal cap — the work to hit that pro forma in 46064 is substantial and deserves full respect.
Regionally, 46064 sits on the difficult end of the IN spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
The 46064 ZIP's population of 17,730 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that posts the need for careful underwriting.
Distressed ZIPs reward experience. sturdy returns are possible in 46064, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Pendleton:
Property Strategy for 46064
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $217,226 | $1,430 | 4.7% | +8.7% | $108,613 |
| 3BR | $306,865 | $1,890 | 4.4% | +7.9% | $102,288 |
| 4BR | $371,368 | $1,900 | 3.7% | +6.6% | $92,842 |
| 5BR | $409,598 | — | — | +6.0% | $81,920 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46064 Compare?
| Metric | 46064 | Pendleton | Indianapolis-Carmel-Anderson, IN | Indiana |
|---|---|---|---|---|
| Home Value | $340,822 | $340,822 | N/A | $248,442 |
| 5-Year CAGR | 5.2% | 5.2% | N/A | 7.7% |
| Avg Rent | $1,964 | $1,964 | N/A | - |
| Cap Rate | 4.5% | 4.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46064 (Pendleton, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $340,822 |
| Monthly Rent | $1,964 |
| Price-to-Rent | 14.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.9% |
| Cap Rate | 4.5% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +3.7% ▲ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +5.2% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | +0.2% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.5%). 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 46064
Population: 17,730
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 46064
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.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the best play in Pendleton, IN?
Pendleton, IN investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($341K prices, $1,964/mo rents) make it a reasonable choice.
What does house hacking look like in Pendleton, IN?
For house hackers, Pendleton, IN is a challenging. The $1,964/mo rent on a unit helps defray the mortgage on a $341K property.
Is real estate in Pendleton, IN a good investment right now?
Pendleton, IN scores 3.0/5 for investability. Home values sit at $341K and rents near $1,964/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How expensive is real estate in Pendleton, IN?
The median home value in Pendleton, IN is roughly $341K. That puts it reasonable relative to the IN statewide average.
What is the average monthly rent in Pendleton, IN?
Expect rents around $1,964/mo per month in Pendleton, IN. With home values at $341K, the yield math works out to reasonable levels for rental investors.
You know 46064 now. You don’t know where it ranks.
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How 46064 ranks in Indianapolis-Carmel-Anderson, IN
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