Real Estate Investing in Mitchell, Indiana (47446)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47446 (Mitchell, 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: 8.1% 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 Mitchell, IN (47446)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47446 Mitchell
This part of Lawrence County is not an easy win. The 47446 ZIP sits at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Meanwhile, the numbers look inviting — $194K purchase price, 0.0% nominal cap — the work to hit that pro forma in 47446 is substantial and deserves full respect.
Nearby ZIPs in Mitchell have seen price recovery that 47446 has not matched. Lawrence County data supports the view that the spread is structural rather than temporary.
From an investor standpoint, 9,259 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.
New investors are better served looking at Mitchell's stable or hybrid ZIPs before stepping into 47446. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Mitchell:
Property Strategy for 47446
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $98,209 | $730 | 5.4% | +8.4% | $98,209 |
| 2BR | $129,348 | $960 | 5.3% | +8.7% | $64,674 |
| 3BR | $199,080 | $1,150 | 4.2% | +7.7% | $66,360 |
| 4BR | $269,800 | $1,440 | 3.8% | +7.3% | $67,450 |
Market Trends
Home Value History (with trend line)
📊 How Does 47446 Compare?
| Metric | 47446 | Mitchell | Bedford, IN | Indiana |
|---|---|---|---|---|
| Home Value | $193,973 | $193,973 | N/A | $248,442 |
| 5-Year CAGR | 4.4% | 4.4% | N/A | 7.7% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
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 47446 (Mitchell, IN). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 47446 (Mitchell, IN)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $193,973 |
| Monthly Rent | $864 |
| Price-to-Rent | 18.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 7.9% |
📈 Home Appreciation
| 1-Year | +4.7% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +4.4% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 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 (3.5%). 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 47446
Population: 9,259
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 47446
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
Which real estate strategy fits Mitchell, IN?
The best-fit strategy in Mitchell, IN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How tight is the rental market in Mitchell, IN?
Mitchell, IN carries elevated vacancy risk. Expect predictable absorption at market rents of $864/mo.
How does Mitchell, IN rate as a rental market?
Mitchell, IN scores 3.0/5 for investability. Home values sit at $194K and rents near $864/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Is Mitchell, IN a friendly market for rental owners?
For rental operators, Mitchell, IN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Where do home prices stand in Mitchell, IN?
Mitchell, IN home values average about $194K. That price point suits investors targeting rentals with $864/mo in monthly income.
You know 47446 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 47446 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 47446 ranks in Bedford, IN
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 47446 (Mitchell)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 47446 (Mitchell, IN).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.