Real Estate Investing in Hagerstown, Indiana (47346)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47346 (Hagerstown, 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: 12.8% 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 Hagerstown, IN (47346)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47346 Hagerstown
The 47346 ZIP covers a section of Hagerstown that demands careful diligence. Prices near $213K look accessible, but the work to make a deal cash flow is real.
Distressed markets are won on execution, not on spreadsheets. ZIP 47346 registers the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Hagerstown have seen price recovery that 47346 has not matched. Wayne County data supports the view that the spread is structural rather than temporary.
Who lives in 47346 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Distressed ZIPs reward experience. robust returns are possible in 47346, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Hagerstown:
Property Strategy for 47346
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $144,225 | $960 | 4.8% | +9.7% | $72,112 |
| 3BR | $211,468 | $1,190 | 4.1% | +8.6% | $70,489 |
| 4BR | $237,706 | $1,270 | 3.8% | +8.5% | $59,426 |
Market Trends
Home Value History (with trend line)
📊 How Does 47346 Compare?
| Metric | 47346 | Hagerstown | Richmond, IN | Indiana |
|---|---|---|---|---|
| Home Value | $213,434 | $213,434 | N/A | $248,442 |
| 5-Year CAGR | 7.4% | 7.4% | N/A | 7.7% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 3.2% | 3.2% | - | - |
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 47346 (Hagerstown, IN). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 47346 (Hagerstown, IN)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $213,434 |
| Monthly Rent | $864 |
| Price-to-Rent | 20.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +6.2% ▲ |
| 3-Year CAGR | +6.5% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 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 (3.2%). 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 47346
Population: 4,123
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 47346
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
Where do rents currently stand in Hagerstown, IN?
Investors in Hagerstown, IN typically see rents near $864/mo per month against $213K home values - a solid setup for rental cash flow.
What is the typical renter like in Hagerstown, IN?
Tenant quality in Hagerstown, IN ranks as solid. Landlords generally report consistent occupancy at market rents of $864/mo.
Are homes affordable in Hagerstown, IN?
Hagerstown, IN home values average about $213K. That price point suits investors targeting rentals with $864/mo in monthly income.
What real estate strategy is ideal for Hagerstown, IN?
For Hagerstown, IN, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How landlord-friendly is Hagerstown, IN?
Landlord-friendliness in Hagerstown, IN is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 47346 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 47346 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 47346 ranks in Richmond, IN
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 47346 (Hagerstown)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 47346 (Hagerstown, IN).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.