Real Estate Investing in New Palestine, Indiana (46163)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46163 (New Palestine, IN)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 25.9 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in New Palestine, IN (46163)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46163 New Palestine
Not every below-median market is a bargain. New Palestine's 46163 ZIP clocks in at signals that favor experienced operators who can absorb the risk $387K pricing implies.
The investment case in 46163 is significant only for operators who understand what they are buying. A $387K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 46163's metrics run below Hancock County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 46163 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 46163 is an operator game, not a passive one. On the rental side, entry prices of $387K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in New Palestine:
Property Strategy for 46163
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $277,941 | $1,380 | 3.6% | +7.9% | $138,970 |
| 3BR | $349,201 | $1,780 | 3.7% | +7.2% | $116,400 |
| 4BR | $413,791 | $2,190 | 3.8% | +6.6% | $103,448 |
| 5BR | $432,858 | — | — | +4.9% | $86,572 |
Market Trends
Home Value History (with trend line)
📊 How Does 46163 Compare?
| Metric | 46163 | New Palestine | Indianapolis-Carmel-Anderson, IN | Indiana |
|---|---|---|---|---|
| Home Value | $386,650 | $386,650 | N/A | $248,442 |
| 5-Year CAGR | 4.6% | 4.6% | N/A | 7.7% |
| Avg Rent | $1,242 | $1,242 | N/A | - |
| Cap Rate | 2.5% | 2.5% | - | - |
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 46163 (New Palestine, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $386,650 |
| Monthly Rent | $1,242 |
| Price-to-Rent | 25.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +3.7% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 5-Year CAGR | +4.6% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 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 (2.5%). 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 46163
Population: 14,318
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 46163
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
Investor Insight: With 47,422 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much do tenants pay in New Palestine, IN?
Expect rents around $1,242/mo per month in New Palestine, IN. With home values at $387K, the yield math works out to reasonable levels for rental investors.
Is New Palestine, IN better for rentals, flips, or BRRRR?
New Palestine, IN investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($387K prices, $1,242/mo rents) make it a reasonable choice.
What is the median home value in New Palestine, IN?
Expect median prices around $387K in New Palestine, IN. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
Are landlord laws favorable in New Palestine, IN?
Rental owners in New Palestine, IN deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Does New Palestine, IN make sense for an investment property?
With a 3.0/5 investability score, New Palestine, IN ranks as a solid market for rental property investors. Median prices of $387K and rents of $1,242/mo drive the underlying numbers.
You know 46163 now. You don’t know where it ranks.
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How 46163 ranks in Indianapolis-Carmel-Anderson, IN
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