Real Estate Investing in Union Mills, Indiana (46382)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46382 (Union Mills, 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.
- Elevated vacancy: 11.9% 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 Union Mills, IN (46382)?
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Market Analysis: 46382 Union Mills
This part of La Porte County is not an easy win. The 46382 ZIP comes in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 46382 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
In the broader IN picture, 46382 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Demographically, 46382 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.
The right play in 46382 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Union Mills:
Property Strategy for 46382
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $221,199 | $1,190 | 3.9% | +9.1% | $110,599 |
| 3BR | $293,264 | $1,490 | 3.7% | +8.0% | $97,755 |
| 4BR | $341,347 | $1,760 | 3.7% | +7.5% | $85,337 |
Market Trends
Home Value History (with trend line)
📊 How Does 46382 Compare?
| Metric | 46382 | Union Mills | Michigan City-La Porte, IN | Indiana |
|---|---|---|---|---|
| Home Value | $307,288 | $307,288 | N/A | $248,442 |
| 5-Year CAGR | 7.0% | 7.0% | N/A | 7.7% |
| Avg Rent | $1,071 | $1,071 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46382 (Union Mills, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $307,288 |
| Monthly Rent | $1,071 |
| Price-to-Rent | 23.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +9.6% ▲ |
| 3-Year CAGR | +6.1% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 (2.7%). 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 46382
Population: 1,833
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 46382
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 Union Mills, IN?
The median home value in Union Mills, IN is roughly $307K. That puts it reasonable relative to the IN statewide average.
Is Union Mills, IN good for landlords?
For rental operators, Union Mills, IN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Which real estate strategy fits Union Mills, IN?
The best-fit strategy in Union Mills, IN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Is Union Mills, IN a good market for buy-and-hold investors?
Investors tracking Union Mills, IN will find a 3.0/5 rating supported by $307K median home values and $1,071/mo rents. That profile suits long-term holders targeting steady returns.
Where do rents currently stand in Union Mills, IN?
Investors in Union Mills, IN typically see rents near $1,071/mo per month against $307K home values - a solid setup for rental cash flow.
You know 46382 now. You don’t know where it ranks.
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How 46382 ranks in Michigan City-La Porte, IN
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