Real Estate Investing in Speedway, Indiana (46224)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46224 (Speedway, 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.
- Elevated vacancy: 9.1% vacancy may signal weakening demand.
What’s happening in Speedway, IN (46224)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46224 Speedway
This part of Marion County is not an easy win. The 46224 ZIP clocks in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $203K asset, 46224 is the wrong submarket. If the plan prices in friction, the yield can still work.
Nearby ZIPs in Speedway have seen price recovery that 46224 has not matched. Marion County data supports the view that the spread is structural rather than temporary.
Who lives in 46224 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 46224 is an operator game, not a passive one. From an investor standpoint, entry prices of $203K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Speedway:
Property Strategy for 46224
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $192,969 | $1,370 | 5.1% | +10.4% | $96,484 |
| 3BR | $195,313 | $1,770 | 6.5% | +9.4% | $65,104 |
| 4BR | $230,875 | $2,170 | 6.8% | +9.2% | $57,719 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46224 Compare?
| Metric | 46224 | Speedway | Indianapolis-Carmel-Anderson, IN | Indiana |
|---|---|---|---|---|
| Home Value | $203,480 | $203,480 | N/A | $248,442 |
| 5-Year CAGR | 6.2% | 6.2% | N/A | 7.7% |
| Avg Rent | $1,077 | $1,077 | N/A | - |
| Cap Rate | 4.1% | 4.1% | - | - |
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 46224 (Speedway, IN). Anonymous, moderated, never written by AI.
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Property managers serving Marion County
Manage rentals here? List your business →Atlas Property Services, LLC offers quality home rentals and property management services in Indianapolis and Muncie, including single-family homes and duplexes. summary from their website
Orion Property Management offers real estate and property management services for residential and commercial properties, including leasing, collections, maintenance, and city compliance. summary from their website
Red Door Property Management offers property management services in Indianapolis, including marketing, tenant screening, maintenance, leasing, eviction protection, and Airbnb management. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $203,480 |
| Monthly Rent | $1,077 |
| Price-to-Rent | 15.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.1% |
| 5-Year IRR | 10.3% |
📈 Home Appreciation
| 1-Year | +1.9% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +9.8% ▲ |
🏠 Rent Trends
| 1-Year | +1.1% ▲ |
| 3-Year CAGR | +0.2% ▲ |
| 5-Year CAGR | +4.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.1%). 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 46224
Population: 39,858
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 46224
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 deep is the rental pool in Speedway, IN?
Tenant quality in Speedway, IN ranks as solid. Landlords generally report measured occupancy at market rents of $1,077/mo.
Is Speedway, IN a good place for real estate investing?
Speedway, IN scores 3.0/5 for investability. Home values sit at $203K and rents near $1,077/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How should investors approach Speedway, IN?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Speedway, IN. The numbers - $203K homes against $1,077/mo rents - support that play.
Do rentals sit vacant long in Speedway, IN?
Vacancy in Speedway, IN is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,077/mo.
What is it like being a landlord in Speedway, IN?
Rental owners in Speedway, IN deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 46224 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 46224 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 46224 ranks in Indianapolis-Carmel-Anderson, IN
Every ZIP in this metro, ranked. Free.
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