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Indiana | Bought my first rental in 1987. Rule of thumb most of my life was 100x monthly rents so $500 rents I’d generally pay $50,000 same as you.
I put 20% down on an 15 yr mortgage and would generally return close to 10%, including my equity build, and then would appreciation on top of that. I always said u need to get buy at best price and make sure u have accounted for all major repairs in ur offer or have them fixed after inspection. If u pay to much u have to live with it.
Our market has exploded in Indy I have a four unit that used to rent for 500 a unit not that long ago now is $1,250. Our market is like 125x rents right now.
Massive building occurring here but limited building in the smaller towns and rentals are all filled up. Maybe same in ur area.
Rentals much better investment than farming if u buy right, get right tenant and keep it rented. It’s good to have some diversity in real estate. Hope this helps.
Edited by Fetv 12/2/2025 19:07
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Rental house market
