Real Estate Investing in Winamac, Indiana (46996)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46996 (Winamac, 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: 15.9% 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 Winamac, IN (46996)?
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Market Analysis: 46996 Winamac
Stepping back, ZIP 46996 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $197K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $197K asset, 46996 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 46996 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 46996 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.
Experienced landlords with local relationships tend to find 46996 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Winamac:
Property Strategy for 46996
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $137,759 | $960 | 5.0% | +9.9% | $68,880 |
| 3BR | $195,230 | $1,330 | 4.9% | +9.8% | $65,077 |
| 4BR | $231,966 | $1,600 | 5.0% | +9.1% | $57,991 |
Market Trends
Home Value History (with trend line)
📊 How Does 46996 Compare?
| Metric | 46996 | Winamac | Indiana |
|---|---|---|---|
| Home Value | $197,372 | $197,372 | $248,442 |
| 5-Year CAGR | 8.1% | 8.1% | 7.7% |
| Avg Rent | $864 | $864 | - |
| Cap Rate | 3.4% | 3.4% | - |
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 46996 (Winamac, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $197,372 |
| Monthly Rent | $864 |
| Price-to-Rent | 19.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 11.5% |
📈 Home Appreciation
| 1-Year | +7.5% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +8.1% ▲ |
| 10-Year CAGR | +8.4% ▲ |
🏠 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 46996
Population: 6,231
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 46996
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
What kind of market is Winamac, IN for investors?
Investors tracking Winamac, IN will find a 3.0/5 rating supported by $197K median home values and $864/mo rents. That profile suits long-term holders targeting even-keeled returns.
How deep is the rental pool in Winamac, IN?
The tenant pool in Winamac, IN is solid, supported by local employment and population fundamentals. Rents of $864/mo are well-absorbed by the market.
How much is rent in Winamac, IN?
Winamac, IN rentals go for roughly $864/mo a month. That puts gross yield in solid territory relative to $197K acquisition costs.
Should investors worry about vacancy in Winamac, IN?
Vacancy in Winamac, IN is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $864/mo.
Is Winamac, IN good for house hacking?
House hacking in Winamac, IN is a challenging. With home values around $197K and rents at $864/mo, owner-occupants can offset a meaningful share of PITI.
You know 46996 now. You don’t know where it ranks.
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