Real Estate Investing in Pleasant Lake, Indiana (46779)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46779 (Pleasant Lake, 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 vacancy: 20.9% of homes vacant — above national norms.
- Higher unemployment: 9.5% unemployment — tenant risk signal.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Pleasant Lake, IN (46779)?
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Market Analysis: 46779 Pleasant Lake
ZIP 46779 inside Steuben County looks affordable on the surface — median value of $248K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $909/mo on a $248K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 46779 sits below the stated 0.0% once reality is priced in.
In practical terms, 46779 offers a low basis, the region around Pleasant Lake has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A durable renter share of 6% in 46779 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 46779 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Pleasant Lake:
Property Strategy for 46779
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $181,500 | $1,010 | 4.0% | +9.6% | $90,750 |
| 3BR | $255,458 | $1,290 | 3.6% | +8.5% | $85,153 |
| 4BR | $328,475 | $1,340 | 2.9% | +8.1% | $82,119 |
Market Trends
Home Value History (with trend line)
📊 How Does 46779 Compare?
| Metric | 46779 | Pleasant Lake | Angola, IN | Indiana |
|---|---|---|---|---|
| Home Value | $247,951 | $247,951 | N/A | $248,442 |
| 5-Year CAGR | 7.1% | 7.1% | N/A | 7.7% |
| Avg Rent | $909 | $909 | N/A | - |
| Cap Rate | 2.9% | 2.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46779 (Pleasant Lake, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $247,951 |
| Monthly Rent | $909 |
| Price-to-Rent | 22.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 9.9% |
📈 Home Appreciation
| 1-Year | +13.0% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +7.1% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 (2.9%). 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 46779
Population: 2,184
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 46779
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
Are eviction rules reasonable in Pleasant Lake, IN?
For rental operators, Pleasant Lake, IN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Should investors consider Pleasant Lake, IN?
The 3.0/5 investability rating in Pleasant Lake, IN reflects its $248K prices and $909/mo rents. Investors generally consider it a solid option within IN.
What is the renter demographic in Pleasant Lake, IN?
Tenant quality in Pleasant Lake, IN ranks as solid. Landlords generally report reliable occupancy at market rents of $909/mo.
Does house hacking make sense in Pleasant Lake, IN?
House hacking in Pleasant Lake, IN is reasonable to execute. Prices around $248K and rents of $909/mo solid owner-occupant economics.
How do experienced investors play Pleasant Lake, IN?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Pleasant Lake, IN. The numbers - $248K homes against $909/mo rents - support that play.
You know 46779 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 46779 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 46779 ranks in Angola, IN
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