Real Estate Investing in Morristown, Indiana (46161)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46161 (Morristown, 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.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Morristown, IN (46161)?
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Market Analysis: 46161 Morristown
The 46161 ZIP in Morristown, IN is a local-operator market. Outside capital chasing a $270K entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 46161 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Regionally, 46161 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 46161 ZIP's population of 2,263 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that posts the need for careful underwriting.
The 46161 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 Morristown:
Property Strategy for 46161
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $163,174 | $1,300 | 5.7% | +8.7% | $81,587 |
| 3BR | $267,144 | $1,690 | 4.6% | +8.9% | $89,048 |
| 4BR | $323,837 | $2,060 | 4.6% | +8.0% | $80,959 |
Market Trends
Home Value History (with trend line)
📊 How Does 46161 Compare?
| Metric | 46161 | Morristown | Indianapolis-Carmel-Anderson, IN | Indiana |
|---|---|---|---|---|
| Home Value | $269,678 | $269,678 | N/A | $248,442 |
| 5-Year CAGR | 6.5% | 6.5% | N/A | 7.7% |
| Avg Rent | $1,170 | $1,170 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
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 46161 (Morristown, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $269,678 |
| Monthly Rent | $1,170 |
| Price-to-Rent | 19.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 9.9% |
📈 Home Appreciation
| 1-Year | +4.1% ▲ |
| 3-Year CAGR | +5.0% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 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 (3.4%). 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 46161
Population: 2,263
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 46161
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.
Frequently Asked Questions
What are rental rates like in Morristown, IN?
Average rent in Morristown, IN is approximately $1,170/mo per month. Against $270K home values that yields a reasonable rent-to-price ratio.
Is Morristown, IN good for landlords?
Morristown, IN falls under IN landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
How do home values compare in Morristown, IN?
Homes in Morristown, IN typically sell near $270K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
How strong is Morristown, IN for real estate investors?
Morristown, IN rates 3.0/5 for investability. With median values at $270K and rents near $1,170/mo, the market offers reasonable fundamentals for rental investors.
How deep is the rental pool in Morristown, IN?
The tenant pool in Morristown, IN is solid, supported by local employment and population fundamentals. Rents of $1,170/mo are well-absorbed by the market.
You know 46161 now. You don’t know where it ranks.
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