Real Estate Investing in Butler, Indiana (46721)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46721 (Butler, 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.
- Elevated vacancy: 10.0% 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 Butler, IN (46721)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46721 Butler
This part of De Kalb County is not an easy win. The 46721 ZIP sits at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 46721 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Regionally, 46721 sits on the difficult end of the IN spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
Who lives in 46721 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
New investors are better served looking at Butler's stable or hybrid ZIPs before stepping into 46721. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Butler:
Property Strategy for 46721
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $134,354 | $960 | 5.1% | +8.6% | $67,177 |
| 3BR | $202,633 | $1,190 | 4.2% | +8.5% | $67,544 |
| 4BR | $227,252 | $1,270 | 4.0% | +8.7% | $56,813 |
Market Trends
Home Value History (with trend line)
📊 How Does 46721 Compare?
| Metric | 46721 | Butler | Auburn, IN | Indiana |
|---|---|---|---|---|
| Home Value | $209,336 | $209,336 | N/A | $248,442 |
| 5-Year CAGR | 7.4% | 7.4% | N/A | 7.7% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 3.2% | 3.2% | - | - |
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 46721 (Butler, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $209,336 |
| Monthly Rent | $864 |
| Price-to-Rent | 20.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.2% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +8.0% ▲ |
| 3-Year CAGR | +7.4% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 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 (3.2%). 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 46721
Population: 4,890
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 46721
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
Which real estate strategy fits Butler, IN?
The best-fit strategy in Butler, IN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How much does a house cost in Butler, IN?
In Butler, IN the median home value sits at $209K. Against the broader IN market, that reads as reasonable for most investors.
How much rent can I charge in Butler, IN?
Butler, IN rentals go for roughly $864/mo a month. That puts gross yield in solid territory relative to $209K acquisition costs.
Are landlord laws favorable in Butler, IN?
Butler, IN operates under IN law, which is landlord-friendly overall for landlords. Expect reliable treatment in typical lease and eviction cases.
What is the typical vacancy rate in Butler, IN?
Butler, IN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 46721 now. You don’t know where it ranks.
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How 46721 ranks in Auburn, IN
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