Real Estate Investing in Lucerne, Indiana (46950)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46950 (Lucerne, IN)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.8% vacancy may signal weakening demand.
- Lower household income: $39,196 median — tenant affordability is tighter.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Lucerne, IN (46950)?
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Market Analysis: 46950 Lucerne
ZIP 46950 inside Cass County looks affordable on the surface — median value of $214K — but the discount exists for reasons that a careful buyer should understand before committing.
From an investor standpoint, the numbers look inviting — $214K purchase price, 0.0% nominal cap — the work to hit that pro forma in 46950 is substantial and deserves full respect.
ZIP 46950's metrics run below Cass County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
From a cash-flow lens, 385 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Lucerne:
Market Trends
Home Value History (with trend line)
📊 How Does 46950 Compare?
| Metric | 46950 | Lucerne | Logansport, IN | Indiana |
|---|---|---|---|---|
| Home Value | $214,030 | $214,030 | N/A | $248,442 |
| 5-Year CAGR | 6.8% | 6.8% | N/A | 7.7% |
| Avg Rent | $882 | $882 | N/A | - |
| Cap Rate | 3.2% | 3.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46950 (Lucerne, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $214,030 |
| Monthly Rent | $882 |
| Price-to-Rent | 20.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.2% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +7.0% ▲ |
| 3-Year CAGR | +7.1% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 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 (3.2%). 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 46950
Population: 385
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
Is Lucerne, IN a smart market for rental property?
The 3.0/5 investability rating in Lucerne, IN reflects its $214K prices and $882/mo rents. Investors generally consider it a solid option within IN.
Which real estate strategy fits Lucerne, IN?
The best-fit strategy in Lucerne, IN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How much do tenants pay in Lucerne, IN?
Expect rents around $882/mo per month in Lucerne, IN. With home values at $214K, the yield math works out to reasonable levels for rental investors.
What is the typical vacancy rate in Lucerne, IN?
Lucerne, IN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What is the typical renter like in Lucerne, IN?
Tenant quality in Lucerne, IN ranks as solid. Landlords generally report stable occupancy at market rents of $882/mo.
You know 46950 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 46950 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 46950 ranks in Logansport, IN
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