Metropolitan Area

Elkhart, IN

Indiana0
65
/100
Buy
#358 of 894 metros
Top 40% nationally for investing

Market Snapshot

$265,734
Median Home Price
4% above national median
$1,211/mo
Median Rent
13% below national median
5.47%
Rent-to-Price Ratio
Top 62% nationally
-$606
Est. Monthly Cash Flow
With 20% down at 6.9% rate

Price History

Median Home Price

Median Rent

Trend based on YoY growth rate. Source: Zillow ZHVI/ZORI

Quick Investment Calculator

20%
5%50%100%

Purchase

Purchase Price$265,734
Down Payment (20%)$53,147
Loan Amount$212,587
Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,211
Monthly P&I-$1,393
Est. Expenses (35%)-$424
Net Cash Flow-$606/mo
3.6%
Cap Rate (all cash)
-11.9%
Cash-on-Cash Return
5.47%
Rent-to-Price Ratio
Negative leverage: At 6.85% rates, borrowing costs exceed the 3.6% cap rate. All-cash buyers may see better returns.

* Based on metro-wide median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Individual counties and properties vary significantly.

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Score Breakdown

Overall Investment Score
65/100
65
Cash Flow(30%)
52/100

Based on 5.47% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)
88/100

Based on 6.0% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)
50/100

Based on 0.0% population growth. Growing areas indicate economic stability.

Affordability(20%)
73/100

Based on price relative to estimated local incomes.

Scores are calculated using real Zillow metro-level home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. This metro score represents area-wide averages; individual counties may vary significantly.

Investment Outlook

Strengths

  • +Strong price appreciation (+6.0% YoY)
  • +Affordable relative to local incomes
  • +Low unemployment (0.0%)

Challenges

  • -Negative cash flow at typical financing (-$606/mo)
  • -Negative leverage (cap rate 3.6% < mortgage rate 6.9%)

Counties in Elkhart, IN

County data is being compiled for this metro area.

Compare to Similar Metros

Metro AreaVerdict
Coffeyville, KS
Coffeyville, KS
85$101,366$86210.20%Strong BuyView
Blytheville, AR
Blytheville, AR
84$115,156$1,06411.08%Strong BuyView
Roanoke Rapids, NC
Roanoke Rapids, NC
84$107,523$1,07712.02%Strong BuyView
Enid, OK
Enid, OK
83$144,157$1,25010.40%Strong BuyView
Houghton, MI
Houghton, MI
83$194,696$1,73310.68%Strong BuyView
Current
Elkhart, IN
65$265,734$1,2115.47%Buy

The Bottom Line

BuyElkhart, IN offers solid investment potential with good cash flow or appreciation prospects.

The Elkhart, IN metro area scores 65/100, ranking #358 of 894 US metros (top 40%). The 5.47% rent-to-price ratio may require targeting specific counties or creative strategies for positive cash flow. Current metro-wide averages make traditional buy-and-hold investing challenging. Consider house hacking, value-add strategies, or drilling down to specific counties.

Monthly Cash Flow
$-606/mo
Cap Rate
3.6%
Cash-on-Cash
-13.7%

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