Real Estate Investing in Wabash, Indiana (46992)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46992 (Wabash, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.6% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Wabash, IN (46992)?
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Market Analysis: 46992 Wabash
The 46992 ZIP in Wabash, IN is a local-operator market. Outside capital chasing a $185K entry has to pair deep knowledge with the discount.
Rent of $864/mo on a $185K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 46992 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Wabash have seen price recovery that 46992 has not matched. Wabash County data supports the view that the spread is structural rather than temporary.
Resident income in 46992 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 46992 is an operator game, not a passive one. From an investor standpoint, entry prices of $185K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Wabash:
Property Strategy for 46992
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $122,777 | $960 | 5.6% | +9.2% | $61,389 |
| 3BR | $178,976 | $1,150 | 4.6% | +8.4% | $59,659 |
| 4BR | $221,881 | $1,270 | 4.1% | +8.1% | $55,470 |
| 5BR | $242,726 | — | — | +7.3% | $48,545 |
Market Trends
Home Value History (with trend line)
📊 How Does 46992 Compare?
| Metric | 46992 | Wabash | Wabash, IN | Indiana |
|---|---|---|---|---|
| Home Value | $184,718 | $184,718 | N/A | $248,442 |
| 5-Year CAGR | 7.3% | 7.3% | N/A | 7.7% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 3.7% | 3.7% | - | - |
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 46992 (Wabash, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $184,718 |
| Monthly Rent | $864 |
| Price-to-Rent | 17.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.7% |
| 5-Year IRR | 10.9% |
📈 Home Appreciation
| 1-Year | +7.7% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +7.3% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 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 (3.7%). 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 46992
Population: 16,475
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 46992
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.
Frequently Asked Questions
Is Wabash in IN worth investing in?
The 3.0/5 investability rating in Wabash, IN reflects its $185K prices and $864/mo rents. Investors generally consider it a solid option within IN.
What is the typical rental rate in Wabash, IN?
Wabash, IN rentals go for roughly $864/mo a month. That puts gross yield in solid territory relative to $185K acquisition costs.
How do landlord-tenant laws work in Wabash, IN?
Wabash, IN operates under IN law, which is landlord-friendly overall for landlords. Expect stable treatment in typical lease and eviction cases.
How tight is the rental market in Wabash, IN?
Occupancy in Wabash, IN runs measured with elevated vacancy. Well-priced units at $864/mo lease on reasonable timelines.
How do experienced investors play Wabash, IN?
Most investors in Wabash, 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 46992 now. You don’t know where it ranks.
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How 46992 ranks in Wabash, IN
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