Real Estate Investing in Chesterton, Indiana (46304)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46304 (Chesterton, 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.
No major risk flags on the data we track.
What’s happening in Chesterton, IN (46304)?
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Market Analysis: 46304 Chesterton
The 46304 ZIP in Chesterton, IN is a local-operator market. Outside capital chasing a $338K entry has to pair deep knowledge with the discount.
The investment case in 46304 is substantial only for operators who understand what they are buying. A $338K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 46304 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 46304 ZIP's population of 27,402 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
The 46304 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 Chesterton:
Property Strategy for 46304
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $222,882 | $1,410 | 4.6% | +7.3% | $111,441 |
| 3BR | $311,259 | $1,730 | 4.0% | +6.7% | $103,753 |
| 4BR | $402,042 | $1,870 | 3.3% | — | $100,511 |
| 5BR | $493,421 | — | — | +5.5% | $98,684 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 46304 Compare?
| Metric | 46304 | Chesterton | Indiana |
|---|---|---|---|
| Home Value | $338,413 | $338,413 | $248,442 |
| 5-Year CAGR | 4.5% | 4.5% | 7.7% |
| Avg Rent | $1,627 | $1,627 | - |
| Cap Rate | 3.8% | 3.8% | - |
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 46304 (Chesterton, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $338,413 |
| Monthly Rent | $1,627 |
| Price-to-Rent | 17.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 8.3% |
📈 Home Appreciation
| 1-Year | +5.0% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +4.5% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | +1.4% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). 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 46304
Population: 27,402
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 46304
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
What is the typical home price in Chesterton, IN?
In Chesterton, IN the median home value sits at $338K. Against the broader IN market, that reads as reasonable for most investors.
Is house hacking profitable in Chesterton, IN?
House hacking in Chesterton, IN is reasonable to execute. Prices around $338K and rents of $1,627/mo solid owner-occupant economics.
Are renters plentiful in Chesterton, IN?
Working renters make up the core of the Chesterton, IN tenant base. The pool is reasonable for investors targeting long-term holds.
What is it like being a landlord in Chesterton, IN?
IN law landlord-friendly for landlords, and Chesterton inherits those rules. Investors should still review local ordinances for rental licensing.
How much do tenants pay in Chesterton, IN?
Rent in Chesterton, IN is around $1,627/mo. The resulting rent-to-value relationship with $338K pricing is reasonable for most investor models.
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