Side-by-side comparison of Muncie, IN and North Vernon, IN — cap rates, rent, prices, and investment metrics.
Cash flow: Muncie has the edge with an estimated cap rate of 5.10% compared to North Vernon's 3.26%. 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 $220,000 in North Vernon, while rents come in at $980/mo and $950/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 North Vernon'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 North Vernon. 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 North Vernon's $220K — a difference of $55K. With a 20% down payment, that's $33K vs $44K. Muncie combines the lower price with a higher cap rate — a compelling combination.
Bottom line: Muncie edges out North Vernon 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 North Vernon.