Real Estate Investing in Macy, Indiana (46951)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46951 (Macy, 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: 31.4% 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 Macy, IN (46951)?
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Market Analysis: 46951 Macy
Not every below-median market is a bargain. Macy's 46951 ZIP records signals that favor experienced operators who can absorb the risk $182K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $182K asset, 46951 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within IN, ZIP 46951 trails on several market indicators that neighboring Miami County submarkets outperform. The gap is real and resilient enough to shape underwriting.
Who lives in 46951 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 46951 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 Macy:
Property Strategy for 46951
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $133,509 | $1,150 | 6.2% | +9.9% | $66,755 |
| 3BR | $191,822 | $1,370 | 5.1% | +8.6% | $63,941 |
| 4BR | $218,028 | $1,580 | 5.2% | +7.9% | $54,507 |
Market Trends
Home Value History (with trend line)
📊 How Does 46951 Compare?
| Metric | 46951 | Macy | Peru, IN | Indiana |
|---|---|---|---|---|
| Home Value | $182,122 | $182,122 | N/A | $248,442 |
| 5-Year CAGR | 6.4% | 6.4% | N/A | 7.7% |
| Avg Rent | $1,035 | $1,035 | N/A | - |
| Cap Rate | 4.4% | 4.4% | - | - |
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 46951 (Macy, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $182,122 |
| Monthly Rent | $1,035 |
| Price-to-Rent | 14.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.8% |
| Cap Rate | 4.4% |
| 5-Year IRR | 10.8% |
📈 Home Appreciation
| 1-Year | +9.1% ▲ |
| 3-Year CAGR | +6.4% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 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 (4.4%). 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 46951
Population: 2,016
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
How strong are rents in Macy, IN?
The typical rental in Macy, IN commands about $1,035/mo monthly. That rent profile steady cash flow against the $182K purchase basis.
Is it easy to find good tenants in Macy, IN?
The renter base in Macy, IN is reasonable for the $1,035/mo price point. Screening well and pricing to market typically yields stable tenants.
Are there empty rentals in Macy, IN?
Macy, IN sees elevated vacancy, which is reasonable relative to the broader IN rental market.
Does house hacking work in Macy, IN?
House hacking in Macy, IN is reasonable to execute. Prices around $182K and rents of $1,035/mo solid owner-occupant economics.
How should investors approach Macy, IN?
Most investors in Macy, IN run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
You know 46951 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 46951 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 46951 ranks in Peru, IN
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