Real Estate Investing in Cloverdale, Indiana (46120)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46120 (Cloverdale, IN)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.8% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Cloverdale, IN (46120)?
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Market Analysis: 46120 Cloverdale
Investors eyeing 46120 need to respect the fundamentals at play. Home values of $264K come alongside slower price movement and elevated management overhead.
The investment case in 46120 is durable only for operators who understand what they are buying. A $264K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 46120 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 46120 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
New investors are better served looking at Cloverdale's stable or hybrid ZIPs before stepping into 46120. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Cloverdale:
Property Strategy for 46120
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $188,085 | $1,100 | 4.2% | +7.7% | $94,043 |
| 3BR | $260,286 | $1,440 | 4.0% | +8.3% | $86,762 |
| 4BR | $309,645 | $1,730 | 4.0% | +8.7% | $77,411 |
Market Trends
Home Value History (with trend line)
📊 How Does 46120 Compare?
| Metric | 46120 | Cloverdale | Indianapolis-Carmel-Anderson, IN | Indiana |
|---|---|---|---|---|
| Home Value | $264,140 | $264,140 | N/A | $248,442 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 7.7% |
| Avg Rent | $990 | $990 | N/A | - |
| Cap Rate | 2.9% | 2.9% | - | - |
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 46120 (Cloverdale, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $264,140 |
| Monthly Rent | $990 |
| Price-to-Rent | 22.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.5% |
| Cap Rate | 2.9% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +5.0% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (2.9%). 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 46120
Population: 6,138
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 46120
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
How expensive is real estate in Cloverdale, IN?
Median home price in Cloverdale, IN is near $264K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
What kind of vacancy should I budget for in Cloverdale, IN?
Occupancy in Cloverdale, IN runs even-keeled with elevated vacancy. Well-priced units at $990/mo lease on reasonable timelines.
What kind of tenants rent in Cloverdale, IN?
Cloverdale, IN offers a measured renter base at the $990/mo rent level. Tenant turnover is reasonable for well-managed properties.
How much is rent in Cloverdale, IN?
Cloverdale, IN rentals go for roughly $990/mo a month. That puts gross yield in solid territory relative to $264K acquisition costs.
Is Cloverdale, IN good for landlords?
For rental operators, Cloverdale, IN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
You know 46120 now. You don’t know where it ranks.
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How 46120 ranks in Indianapolis-Carmel-Anderson, IN
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