Real Estate Investing in Gaston, Indiana (47342)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47342 (Gaston, 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.
- Elevated vacancy: 10.3% 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 Gaston, IN (47342)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47342 Gaston
Investors eyeing 47342 need to respect the fundamentals at play. Home values of $207K come alongside slower price movement and elevated management overhead.
The investment case in 47342 is durable only for operators who understand what they are buying. A $207K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 47342 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 47342 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The right play in 47342 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 Gaston:
Property Strategy for 47342
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $133,852 | $970 | 5.2% | +9.1% | $66,926 |
| 3BR | $186,689 | $1,250 | 4.8% | +8.3% | $62,230 |
| 4BR | $252,803 | $1,570 | 4.5% | +8.5% | $63,201 |
Market Trends
Home Value History (with trend line)
📊 How Does 47342 Compare?
| Metric | 47342 | Gaston | Muncie, IN | Indiana |
|---|---|---|---|---|
| Home Value | $207,430 | $207,430 | N/A | $248,442 |
| 5-Year CAGR | 6.9% | 6.9% | N/A | 7.7% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
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 47342 (Gaston, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $207,430 |
| Monthly Rent | $873 |
| Price-to-Rent | 19.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | +6.0% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +6.9% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 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 (3.3%). 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 47342
Population: 2,514
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 47342
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
Investor Insight: With 1,042 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Gaston, IN landlord-friendly?
IN law landlord-friendly for landlords, and Gaston inherits those rules. Investors should still review local ordinances for rental licensing.
Is Gaston, IN a good place for real estate investing?
Gaston, IN clocks in at an investability rating of 3.0/5, with median home values near $207K and average rents around $873/mo. That combination puts it in the robust tier for investor interest.
What price range are homes in Gaston, IN?
Median home price in Gaston, IN is near $207K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
Can I live-in-and-rent in Gaston, IN?
House hacking in Gaston, IN is a challenging. With home values around $207K and rents at $873/mo, owner-occupants can offset a meaningful share of PITI.
Is Gaston, IN better for rentals, flips, or BRRRR?
Gaston, IN investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($207K prices, $873/mo rents) make it a reasonable choice.
You know 47342 now. You don’t know where it ranks.
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How 47342 ranks in Muncie, IN
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