Real Estate Investing in Star City, Indiana (46985)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46985 (Star City, IN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- High vacancy: 30.6% 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 Star City, IN (46985)?
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Market Analysis: 46985 Star City
ZIP 46985 inside Pulaski County looks affordable on the surface — median value of $174K — but the discount exists for reasons that a careful buyer should understand before committing.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $174K asset, 46985 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 46985 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Looking more closely, 1,247 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.
seems 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 Star City:
Property Strategy for 46985
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $119,264 | $1,020 | 6.2% | +10.2% | $59,632 |
| 3BR | $181,141 | $1,390 | 5.5% | +8.5% | $60,380 |
| 4BR | $205,560 | $1,660 | 5.8% | +7.8% | $51,390 |
Market Trends
Home Value History (with trend line)
📊 How Does 46985 Compare?
| Metric | 46985 | Star City | Indiana |
|---|---|---|---|
| Home Value | $173,732 | $173,732 | $248,442 |
| 5-Year CAGR | 8.1% | 8.1% | 7.7% |
| Avg Rent | $918 | $918 | - |
| Cap Rate | 4.1% | 4.1% | - |
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 46985 (Star City, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $173,732 |
| Monthly Rent | $918 |
| Price-to-Rent | 15.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 12.2% |
📈 Home Appreciation
| 1-Year | +10.1% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +8.1% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 (4.1%). 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 46985
Population: 1,247
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 much do tenants pay in Star City, IN?
Rent in Star City, IN is around $918/mo. The resulting rent-to-value relationship with $174K pricing is reasonable for most investor models.
Are renters plentiful in Star City, IN?
Star City, IN draws a consistent base of working renters. Demand at the $918/mo rent level is reasonable for standard single-family and small multi rentals.
What strategy should investors use in Star City, IN?
A careful cash-flow rentals with hands-on management strategy Star City, IN best. The market produces consistent results for that approach at the $174K price point.
Does Star City, IN favor landlords or tenants?
Star City, IN operates under IN law, which is landlord-friendly overall for landlords. Expect reliable treatment in typical lease and eviction cases.
Does Star City, IN make sense for an investment property?
The 3.0/5 investability rating in Star City, IN reflects its $174K prices and $918/mo rents. Investors generally consider it a solid option within IN.
You know 46985 now. You don’t know where it ranks.
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