Real Estate Investing in Kewanna, Indiana (46939)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46939 (Kewanna, IN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 22.4% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Kewanna, IN (46939)?
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Market Analysis: 46939 Kewanna
The 46939 ZIP in Kewanna, IN is a local-operator market. Outside capital chasing a $192K entry has to pair deep knowledge with the discount.
The investment case in 46939 is impressive only for operators who understand what they are buying. A $192K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 46939 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Who lives in 46939 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 46939 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Kewanna:
Property Strategy for 46939
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $156,664 | $960 | 4.4% | +10.0% | $78,332 |
| 3BR | $189,650 | $1,170 | 4.4% | +9.1% | $63,217 |
| 4BR | $192,519 | $1,410 | 5.3% | +8.4% | $48,130 |
Market Trends
Home Value History (with trend line)
📊 How Does 46939 Compare?
| Metric | 46939 | Kewanna | Indiana |
|---|---|---|---|
| Home Value | $192,387 | $192,387 | $248,442 |
| 5-Year CAGR | 7.8% | 7.8% | 7.7% |
| Avg Rent | $864 | $864 | - |
| Cap Rate | 3.5% | 3.5% | - |
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 46939 (Kewanna, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $192,387 |
| Monthly Rent | $864 |
| Price-to-Rent | 18.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 11.3% |
📈 Home Appreciation
| 1-Year | +10.0% ▲ |
| 3-Year CAGR | +6.5% ▲ |
| 5-Year CAGR | +7.8% ▲ |
| 10-Year CAGR | +8.3% ▲ |
🏠 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 (3.5%). 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 46939
Population: 1,757
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
Frequently Asked Questions
What is the best play in Kewanna, IN?
For Kewanna, IN, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Is Kewanna, IN a good market for buy-and-hold investors?
Our data puts Kewanna, IN at 3.0/5 for investability. Home prices of $192K and rents around $864/mo create a solid backdrop for investor activity.
What is the rental occupancy rate in Kewanna, IN?
Kewanna, IN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is Kewanna, IN landlord-friendly?
IN law landlord-friendly for landlords, and Kewanna inherits those rules. Investors should still review local ordinances for rental licensing.
Is the tenant base reliable in Kewanna, IN?
Tenant demand in Kewanna, IN is solid. The local workforce $864/mo rents across most rental classes.
You know 46939 now. You don’t know where it ranks.
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