Real Estate Investing in Wheatfield, Indiana (46392)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46392 (Wheatfield, 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 price-to-rent: Price-to-rent ratio 26.1 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Wheatfield, IN (46392)?
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Market Analysis: 46392 Wheatfield
This part of Jasper County is not an easy win. The 46392 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 46392 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Turning to rents, 46392 offers a low basis, the region around Wheatfield has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 46392 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 46392 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 Wheatfield:
Property Strategy for 46392
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $220,318 | $1,210 | 4.0% | +9.4% | $110,159 |
| 3BR | $322,923 | $1,580 | 3.5% | +8.5% | $107,641 |
| 4BR | $390,535 | $1,600 | 2.9% | +8.0% | $97,634 |
Market Trends
Home Value History (with trend line)
📊 How Does 46392 Compare?
| Metric | 46392 | Wheatfield | Indiana |
|---|---|---|---|
| Home Value | $340,384 | $340,384 | $248,442 |
| 5-Year CAGR | 6.6% | 6.6% | 7.7% |
| Avg Rent | $1,089 | $1,089 | - |
| Cap Rate | 2.5% | 2.5% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46392 (Wheatfield, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $340,384 |
| Monthly Rent | $1,089 |
| Price-to-Rent | 26.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +6.2% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 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 (2.5%). 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 46392
Population: 8,332
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 46392
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.
Frequently Asked Questions
What is the rental occupancy rate in Wheatfield, IN?
Occupancy in Wheatfield, IN runs consistent with elevated vacancy. Well-priced units at $1,089/mo lease on reasonable timelines.
What is the median home value in Wheatfield, IN?
Typical homes in Wheatfield, IN go for around $340K. The 5-year CAGR of 0.0% measured price movement.
How strong is Wheatfield, IN for real estate investors?
Wheatfield, IN scores 3.0/5 for investability. Home values sit at $340K and rents near $1,089/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Is IN a landlord-friendly state?
The landlord environment in Wheatfield, IN is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
How strong are rents in Wheatfield, IN?
Investors in Wheatfield, IN typically see rents near $1,089/mo per month against $340K home values - a solid setup for rental cash flow.
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