Real Estate Investing in Leo, Indiana (46765)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46765 (Leo, 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 27.4 — 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 Leo, IN (46765)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46765 Leo
ZIP 46765 in Leo, IN carries a solid set of headwinds. Home values near $403K and rents of $1,224/mo sit inside a market where underwriting has to be tight.
Rent of $1,224/mo on a $403K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 46765 sits below the stated 0.0% once reality is priced in.
In practical terms, 46765 offers a low basis, the region around Leo has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A sturdy renter share of 4% in 46765 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Distressed ZIPs reward experience. substantial returns are possible in 46765, 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 Leo:
Property Strategy for 46765
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $218,399 | $1,360 | 4.5% | +8.5% | $109,199 |
| 3BR | $341,255 | $1,690 | 3.6% | +8.1% | $113,752 |
| 4BR | $434,935 | $1,840 | 3.0% | +7.5% | $108,734 |
| 5BR | $570,724 | — | — | +7.6% | $114,145 |
Market Trends
Home Value History (with trend line)
📊 How Does 46765 Compare?
| Metric | 46765 | Leo | Indiana |
|---|---|---|---|
| Home Value | $402,903 | $402,903 | $248,442 |
| 5-Year CAGR | 6.3% | 6.3% | 7.7% |
| Avg Rent | $1,224 | $1,224 | - |
| Cap Rate | 2.4% | 2.4% | - |
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 46765 (Leo, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $402,903 |
| Monthly Rent | $1,224 |
| Price-to-Rent | 27.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +5.8% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 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 (2.4%). 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 46765
Population: 5,972
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 46765
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
Investor Insight: With 1,109 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are tenants stable in Leo, IN?
Leo, IN draws a predictable base of working renters. Demand at the $1,224/mo rent level is reasonable for standard single-family and small multi rentals.
How strong is Leo, IN for real estate investors?
Leo, IN rates 3.0/5 for investability. With median values at $403K and rents near $1,224/mo, the market offers reasonable fundamentals for rental investors.
What kind of vacancy should I budget for in Leo, IN?
Leo, IN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What is it like being a landlord in Leo, IN?
IN law landlord-friendly for landlords, and Leo inherits those rules. Investors should still review local ordinances for rental licensing.
What price range are homes in Leo, IN?
Median home price in Leo, IN is near $403K, with a 5-year CAGR of 0.0%. Prices have been reliable and supportive of buy-and-hold strategies.
You know 46765 now. You don’t know where it ranks.
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