Side-by-side comparison of North Vernon, IN and Plymouth, IN — cap rates, rent, prices, and investment metrics.
Cash flow: North Vernon has the edge with an estimated cap rate of 3.26% compared to Plymouth's 3.21%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $220,000 in North Vernon vs $250,000 in Plymouth, while rents come in at $950/mo and $1,070/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.
Growth & appreciation: North Vernon is growing faster at 0.9% annually vs Plymouth's 0.9%. North Vernon leads on home value appreciation at 2.6% per year.
Costs & risk: Property taxes are 0.84% in North Vernon vs 0.84% in Plymouth. Vacancy rates of 5.5% and 5.5% are both healthy, suggesting strong tenant demand in both markets.
Entry point: North Vernon offers a lower entry at $220K vs Plymouth's $250K — a difference of $30K. With a 20% down payment, that's $44K vs $50K. North Vernon combines the lower price with a higher cap rate — a compelling combination.
Bottom line: North Vernon edges out Plymouth on most key metrics. While cap rates are moderate at 3.26%, North Vernon's overall profile is stronger. Use our free calculators to model specific deals in North Vernon or Plymouth.