Real Estate Investing in Bourbon, Indiana (46504)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46504 (Bourbon, 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.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Bourbon, IN (46504)?
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Market Analysis: 46504 Bourbon
From a cash-flow lens, ZIP 46504 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $253K median. It rewards specialists, not generalists.
The 46504 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Nearby ZIPs in Bourbon have seen price recovery that 46504 has not matched. Marshall County data supports the view that the spread is structural rather than temporary.
From a cash-flow lens, 3,391 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Bourbon:
Property Strategy for 46504
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $170,736 | $970 | 4.1% | +8.2% | $85,368 |
| 3BR | $228,471 | $1,200 | 3.8% | +7.9% | $76,157 |
| 4BR | $255,703 | $1,360 | 3.8% | +7.8% | $63,926 |
Market Trends
Home Value History (with trend line)
📊 How Does 46504 Compare?
| Metric | 46504 | Bourbon | Plymouth, IN | Indiana |
|---|---|---|---|---|
| Home Value | $253,136 | $253,136 | N/A | $248,442 |
| 5-Year CAGR | 6.8% | 6.8% | N/A | 7.7% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
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 46504 (Bourbon, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $253,136 |
| Monthly Rent | $873 |
| Price-to-Rent | 24.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +11.7% ▲ |
| 3-Year CAGR | +6.1% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 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 46504
Population: 3,391
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 46504
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 smart move for investors in Bourbon, IN?
In Bourbon, IN the substantial play is typically careful cash-flow rentals with hands-on management. The combination of $253K prices and $873/mo rents suits that approach.
Are homes affordable in Bourbon, IN?
Bourbon, IN median home values land near $253K. That is reasonable territory for investors looking at $873/mo-per-month rentals.
What is the average monthly rent in Bourbon, IN?
Rent in Bourbon, IN is around $873/mo. The resulting rent-to-value relationship with $253K pricing is reasonable for most investor models.
What is the rental occupancy rate in Bourbon, IN?
Bourbon, IN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How do landlord-tenant laws work in Bourbon, IN?
IN law landlord-friendly for landlords, and Bourbon inherits those rules. Investors should still review local ordinances for rental licensing.
You know 46504 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 46504 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 46504 ranks in Plymouth, IN
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