Real Estate Investing in Rome City, Indiana (46784)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46784 (Rome City, IN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 35.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 30.1 — 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 Rome City, IN (46784)?
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Market Analysis: 46784 Rome City
ZIP 46784 in Rome City, IN carries a substantial set of headwinds. Home values near $328K and rents of $909/mo sit inside a market where underwriting has to be tight.
Distressed markets are won on execution, not on spreadsheets. ZIP 46784 posts the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Rome City have seen price recovery that 46784 has not matched. Noble County data supports the view that the spread is structural rather than temporary.
Demographically, 46784 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The right play in 46784 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 Rome City:
Property Strategy for 46784
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $232,965 | $1,010 | 3.1% | +9.1% | $116,483 |
| 3BR | $317,770 | $1,210 | 2.7% | +8.7% | $105,923 |
| 4BR | $461,713 | $1,690 | 2.6% | +9.0% | $115,428 |
Market Trends
Home Value History (with trend line)
📊 How Does 46784 Compare?
| Metric | 46784 | Rome City | Kendallville, IN | Indiana |
|---|---|---|---|---|
| Home Value | $328,461 | $328,461 | N/A | $248,442 |
| 5-Year CAGR | 7.1% | 7.1% | N/A | 7.7% |
| Avg Rent | $909 | $909 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46784 (Rome City, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $328,461 |
| Monthly Rent | $909 |
| Price-to-Rent | 30.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.3% |
| Cap Rate | 2.2% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | +10.0% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +7.1% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 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 (2.2%). 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 46784
Population: 1,999
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 46784
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
Are rents high in Rome City, IN?
Average rent in Rome City, IN is approximately $909/mo per month. Against $328K home values that yields a reasonable rent-to-price ratio.
Are renters plentiful in Rome City, IN?
Expect a solid tenant pool in Rome City, IN. The rental market absorbs $909/mo rents without meaningful friction.
What kind of vacancy should I budget for in Rome City, IN?
Expect elevated vacancy in Rome City, IN. Rents at $909/mo are absorbed by the tenant base without meaningful lag.
How do home values compare in Rome City, IN?
The median home value in Rome City, IN is roughly $328K. That puts it reasonable relative to the IN statewide average.
Is Rome City in IN worth investing in?
Rome City, IN scores 3.0/5 for investability. Home values sit at $328K and rents near $909/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 46784 now. You don’t know where it ranks.
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How 46784 ranks in Kendallville, IN
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