Real Estate Investing in Monon, Indiana (47959)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47959 (Monon, 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: 17.4% 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 Monon, IN (47959)?
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Market Analysis: 47959 Monon
The 47959 ZIP covers a section of Monon that demands careful diligence. Prices near $185K look accessible, but the work to make a deal cash flow is real.
The investment case in 47959 is notable only for operators who understand what they are buying. A $185K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within IN, ZIP 47959 trails on several market indicators that neighboring White County submarkets outperform. The gap is real and healthy enough to shape underwriting.
Resident income in 47959 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 47959 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Monon:
Property Strategy for 47959
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $162,156 | $1,100 | 4.9% | +10.7% | $81,078 |
| 3BR | $190,088 | $1,370 | 5.2% | +9.8% | $63,363 |
| 4BR | $227,657 | $1,460 | 4.6% | +9.4% | $56,914 |
Market Trends
Home Value History (with trend line)
📊 How Does 47959 Compare?
| Metric | 47959 | Monon | Indiana |
|---|---|---|---|
| Home Value | $184,617 | $184,617 | $248,442 |
| 5-Year CAGR | 6.3% | 6.3% | 7.7% |
| Avg Rent | $990 | $990 | - |
| Cap Rate | 4.2% | 4.2% | - |
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 47959 (Monon, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $184,617 |
| Monthly Rent | $990 |
| Price-to-Rent | 15.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.2% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +6.2% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 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 (4.2%). 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 47959
Population: 2,557
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 47959
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 is the average home sale price in Monon, IN?
Expect median prices around $185K in Monon, IN. The market has run at a 0.0% 5-year CAGR, so entry costs have been even-keeled.
What is the renter demographic in Monon, IN?
Monon, IN offers a steady renter base at the $990/mo rent level. Tenant turnover is reasonable for well-managed properties.
How landlord-friendly is Monon, IN?
Landlord-friendliness in Monon, IN is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Does a duplex house hack pencil in Monon, IN?
The a challenging house-hack environment in Monon, IN reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What are vacancy rates like in Monon, IN?
Vacancy in Monon, IN is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $990/mo.
You know 47959 now. You don’t know where it ranks.
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