Real Estate Investing in New Paris, Indiana (46553)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46553 (New Paris, 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.
- High price-to-rent: Price-to-rent ratio 26.6 — 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 New Paris, IN (46553)?
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Market Analysis: 46553 New Paris
ZIP 46553 in New Paris, IN carries a resilient set of headwinds. Home values near $313K and rents of $981/mo sit inside a market where underwriting has to be tight.
Rent of $981/mo on a $313K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 46553 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 46553 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Meanwhile, 3,790 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.
Distressed ZIPs reward experience. resilient returns are possible in 46553, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in New Paris:
Property Strategy for 46553
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $207,785 | $1,090 | 3.8% | +8.1% | $103,893 |
| 3BR | $293,480 | $1,430 | 3.5% | +7.7% | $97,827 |
| 4BR | $336,513 | $1,460 | 3.1% | +7.0% | $84,128 |
Market Trends
Home Value History (with trend line)
📊 How Does 46553 Compare?
| Metric | 46553 | New Paris | Elkhart-Goshen, IN | Indiana |
|---|---|---|---|---|
| Home Value | $312,612 | $312,612 | N/A | $248,442 |
| 5-Year CAGR | 6.2% | 6.2% | N/A | 7.7% |
| Avg Rent | $981 | $981 | N/A | - |
| 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 46553 (New Paris, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $312,612 |
| Monthly Rent | $981 |
| Price-to-Rent | 26.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +7.5% ▲ |
| 3-Year CAGR | +5.0% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 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 46553
Population: 3,790
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 46553
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
Does house hacking work in New Paris, IN?
House hacking in New Paris, IN is reasonable to execute. Prices around $313K and rents of $981/mo solid owner-occupant economics.
Should investors consider New Paris, IN?
The 3.0/5 investability rating in New Paris, IN reflects its $313K prices and $981/mo rents. Investors generally consider it a solid option within IN.
Are homes affordable in New Paris, IN?
New Paris, IN home values average about $313K. That price point suits investors targeting rentals with $981/mo in monthly income.
What are rental rates like in New Paris, IN?
Rental rates in New Paris, IN average $981/mo. Tenant demand and $313K home values make the yield look reasonable by investor standards.
How strict are landlord regulations in New Paris, IN?
New Paris, IN operates under IN law, which is landlord-friendly overall for landlords. Expect reliable treatment in typical lease and eviction cases.
You know 46553 now. You don’t know where it ranks.
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How 46553 ranks in Elkhart-Goshen, IN
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