Side-by-side comparison of Muncie, IN and New Castle, IN — cap rates, rent, prices, and investment metrics.
Cash flow: Muncie has the edge with an estimated cap rate of 5.10% compared to New Castle's 3.75%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $165,000 in Muncie vs $185,000 in New Castle, while rents come in at $980/mo and $880/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.
Growth & appreciation: Muncie is growing faster at 0.9% annually vs New Castle's 0.9%. Muncie leads on home value appreciation at 2.6% per year.
Costs & risk: Property taxes are 0.84% in Muncie vs 0.84% in New Castle. Vacancy rates of 5.5% and 5.5% are both healthy, suggesting strong tenant demand in both markets.
Entry point: Muncie offers a lower entry at $165K vs New Castle's $185K — a difference of $20K. With a 20% down payment, that's $33K vs $37K. Muncie combines the lower price with a higher cap rate — a compelling combination.
Bottom line: Muncie edges out New Castle on most key metrics. With a 5.10% cap rate, it offers solid cash flow potential. Use our free calculators to model specific deals in Muncie or New Castle.