Real Estate Investing in Indianapolis, Indiana (46235)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46235 (Indianapolis, IN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 14.4% of homes vacant — above national norms.
What’s happening in Indianapolis, IN (46235)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46235 Indianapolis
ZIP 46235 in Indianapolis, IN carries a notable set of headwinds. Home values near $219K and rents of $1,822/mo sit inside a market where underwriting has to be tight.
The investment case in 46235 is durable only for operators who understand what they are buying. A $219K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Meanwhile, 46235 offers a low basis, the region around Indianapolis has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 46235 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Experienced landlords with local relationships tend to find 46235 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Indianapolis:
Property Strategy for 46235
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $133,419 | $1,250 | 6.7% | +8.1% | $66,710 |
| 3BR | $206,879 | $1,620 | 5.6% | +8.9% | $68,960 |
| 4BR | $259,371 | $1,980 | 5.5% | +7.9% | $64,843 |
| 5BR | $319,340 | — | — | +7.5% | $63,868 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46235 Compare?
| Metric | 46235 | Indianapolis | Indianapolis-Carmel-Anderson, IN | Indiana |
|---|---|---|---|---|
| Home Value | $218,714 | $240,648 | N/A | $248,442 |
| 5-Year CAGR | 5.4% | 4.1% | N/A | 7.7% |
| Avg Rent | $1,822 | $1,509 | N/A | - |
| Cap Rate | 6.5% | 5.0% | - | - |
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 46235 (Indianapolis, IN). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 46235 (Indianapolis, IN)?
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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 | $218,714 |
| Monthly Rent | $1,822 |
| Price-to-Rent | 10.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.0% |
| Cap Rate | 6.5% |
| 5-Year IRR | 11.9% |
📈 Home Appreciation
| 1-Year | +1.4% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +8.5% ▲ |
🏠 Rent Trends
| 1-Year | +5.6% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +6.2% ▲ |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.5%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 46235
Population: 35,897
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 46235
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 40,130 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 Indianapolis, IN?
Expect a solid tenant pool in Indianapolis, IN. The rental market absorbs $1,822/mo rents without meaningful friction.
What real estate strategy is ideal for Indianapolis, IN?
Indianapolis, IN investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($219K prices, $1,822/mo rents) make it a reasonable choice.
What is the typical home price in Indianapolis, IN?
Homes in Indianapolis, IN typically sell near $219K. Prices have moved at a 0.0% 5-year CAGR, which predictable long-term demand.
Does Indianapolis, IN favor landlords or tenants?
Rental owners in Indianapolis, IN deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What kind of market is Indianapolis, IN for investors?
Our data puts Indianapolis, IN at 3.0/5 for investability. Home prices of $219K and rents around $1,822/mo create a solid backdrop for investor activity.
You know 46235 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 46235 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 46235 ranks in Indianapolis-Carmel-Anderson, IN
Every ZIP in this metro, ranked. Free.
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