Real Estate Investing in North Manchester, Indiana (46962)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46962 (North Manchester, 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: 14.1% 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 North Manchester, IN (46962)?
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Market Analysis: 46962 North Manchester
Investors eyeing 46962 need to respect the fundamentals at play. Home values of $204K come alongside slower price movement and elevated management overhead.
The investment case in 46962 is notable only for operators who understand what they are buying. A $204K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within IN, ZIP 46962 trails on several market indicators that neighboring Wabash County submarkets outperform. The gap is real and significant enough to shape underwriting.
Demographically, 46962 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 46962 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 North Manchester:
Property Strategy for 46962
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $142,229 | $1,000 | 5.1% | +8.2% | $71,114 |
| 3BR | $198,458 | $1,200 | 4.4% | +7.6% | $66,153 |
| 4BR | $233,638 | $1,320 | 4.1% | +7.2% | $58,410 |
| 5BR | $283,089 | — | — | +7.5% | $56,618 |
Market Trends
Home Value History (with trend line)
📊 How Does 46962 Compare?
| Metric | 46962 | North Manchester | Wabash, IN | Indiana |
|---|---|---|---|---|
| Home Value | $204,277 | $204,277 | N/A | $248,442 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 7.7% |
| Avg Rent | $900 | $900 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46962 (North Manchester, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $204,277 |
| Monthly Rent | $900 |
| Price-to-Rent | 18.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +6.3% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 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 (3.4%). 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 46962
Population: 8,994
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 46962
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
How qualified is the tenant pool in North Manchester, IN?
Expect a solid tenant pool in North Manchester, IN. The rental market absorbs $900/mo rents without meaningful friction.
Do rentals sit vacant long in North Manchester, IN?
Expect elevated vacancy in North Manchester, IN. Rents at $900/mo are absorbed by the tenant base without meaningful lag.
How do experienced investors play North Manchester, IN?
The best-fit strategy in North Manchester, IN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Is North Manchester, IN a good market for FHA house hackers?
North Manchester, IN is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $204K price point reasonable to enter.
Are landlord laws favorable in North Manchester, IN?
Rental owners in North Manchester, IN deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 46962 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 46962 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 46962 ranks in Wabash, IN
Every ZIP in this metro, ranked. Free.
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