Real Estate Investing in Decatur, Indiana (46733)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46733 (Decatur, 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 Decatur, IN (46733)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46733 Decatur
This part of Adams County is not an easy win. The 46733 ZIP records softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 46733 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within IN, ZIP 46733 trails on several market indicators that neighboring Adams County submarkets outperform. The gap is real and robust enough to shape underwriting.
Employment concentration in 46733 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 46733 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 Decatur:
Property Strategy for 46733
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $134,375 | $870 | 4.7% | +7.6% | $134,375 |
| 2BR | $156,328 | $960 | 4.4% | +8.7% | $78,164 |
| 3BR | $224,316 | $1,230 | 3.9% | +9.0% | $74,772 |
| 4BR | $283,491 | $1,270 | 3.2% | +9.0% | $70,873 |
| 5BR | $336,286 | — | — | +8.4% | $67,257 |
Market Trends
Home Value History (with trend line)
📊 How Does 46733 Compare?
| Metric | 46733 | Decatur | Decatur, IN | Indiana |
|---|---|---|---|---|
| Home Value | $239,041 | $239,041 | N/A | $248,442 |
| 5-Year CAGR | 8.5% | 8.5% | N/A | 7.7% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
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 46733 (Decatur, IN). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 46733 (Decatur, IN)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $239,041 |
| Monthly Rent | $864 |
| Price-to-Rent | 23.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 11.3% |
📈 Home Appreciation
| 1-Year | +9.2% ▲ |
| 3-Year CAGR | +7.5% ▲ |
| 5-Year CAGR | +8.5% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (2.8%). 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 46733
Population: 19,246
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 46733
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
How do experienced investors play Decatur, IN?
In Decatur, IN the significant play is typically careful cash-flow rentals with hands-on management. The combination of $239K prices and $864/mo rents suits that approach.
How does Decatur, IN rate as a rental market?
Decatur, IN reflects an investability rating of 3.0/5, with median home values near $239K and average rents around $864/mo. That combination puts it in the durable tier for investor interest.
How much should I expect to pay for a home in Decatur, IN?
Median home price in Decatur, IN is near $239K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
What is it like being a landlord in Decatur, IN?
Rental owners in Decatur, IN deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What is the renter demographic in Decatur, IN?
The tenant pool in Decatur, IN is solid, supported by local employment and population fundamentals. Rents of $864/mo are well-absorbed by the market.
You know 46733 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 46733 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.
AI Market Advisor
Ask questions about investing in 46733 (Decatur)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 46733 (Decatur, IN).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.