Investing in Boone County
Boone County covers 2 rental markets we actively finance in Indiana — Lebanon, Zionsville. Across those markets the median investment basis averages $460,000, a long-term lease averages $2,275/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $3,087. That produces a county-wide average DSCR ratio near 0.76x.
Basis varies more inside Boone County than the average suggests. Lebanon is the lowest entry point at roughly $300,000, while Lebanon currently models the strongest coverage ratio in the county at 0.82x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.