RV Park Cap Rates in Indiana
Real capitalization rate data from 10 parks across Indiana. Understand what the market is actually returning before you write a check.
What This Means for Investors
Indiana is priced like a primary market. An average cap rate of 6.7% reflects compressed pricing — buyers are paying for stability, brand, or location certainty, not yield. This isn't necessarily a red flag, but it does mean you're betting on appreciation and rent growth more than current cash flow.
If you want to win in Indiana, you need to either buy before the market knows it's for sale, or bring operational improvement that creates NOI post-close. The range of 4.0%–10.1% shows there are still pockets with real yield — city-level data below will help you find them.
With data spread across 10 cities, Indiana offers enough geographic diversity to be selective. The city breakdown below shows where the cap rate compression is worst and where pockets of yield still exist.
At an average estimated value of $17,300,657, most Indiana parks are in reach for individual investors or small syndicates — this isn't a market dominated exclusively by institutional buyers.
Cap Rates by City — Indiana
| City | Avg Cap Rate | Parks | Avg Valuation |
|---|---|---|---|
| Bonneyville Mill | 10.1% | 1 | $7,771,706 |
| Alexandria | 9.0% | 1 | $320,150 |
| Garrett | 8.6% | 1 | $16,800,000 |
| South Bend | 7.0% | 1 | $109,433 |
| Sunman | 7.0% | 1 | $12,577,100 |
| Portage | 6.0% | 1 | $48,817,586 |
| Shipshewana | 5.6% | 1 | $8,841,579 |
| Fremont | 5.1% | 1 | $30,248,927 |
| Ligonier | 4.9% | 1 | $320,094 |
| Michigan City | 4.0% | 1 | $47,200,000 |
Top 10 Highest Cap Rate Parks
Highest estimated returns — investigate occupancy, management quality, and NOI sustainability before buying on cap rate alone.
| Park Name | City | Cap Rate | Sites | Est. Value |
|---|---|---|---|---|
| Eby Pines RV Park and Campground | Bonneyville Mill | 10.1% | 330 | $7,771,705 |
| Alexandria Mobile Home Park | Alexandria | 9.0% | 15 | $320,149 |
| Indian Springs Campground & Splash Springs Aqua Park | Garrett | 8.6% | 350 | $16,800,000 |
| Indian Lakes RV Campground | Sunman | 7.0% | 800 | $12,577,100 |
| Shamrock Hills RV Park | South Bend | 6.97% | 2 | $109,432 |
| Yogi Bear’s Jellystone Park Camp Resort | Portage | 5.97% | 940 | $48,817,585 |
| Shipshewana RV Park & Service Center | Shipshewana | 5.57% | 165 | $8,841,578 |
| Yogi Bear's Jellystone Park Camp Resort | Fremont | 5.07% | 540 | $30,248,926 |
| CR Mobile Home Park | Ligonier | 4.93% | 6 | $320,093 |
| Dune Creek Manufactured Home Community | Michigan City | 4.0% | 590 | $47,199,999 |
10 Lowest Cap Rate Parks
Lower cap rates reflect higher prices relative to income — often found in premium markets, coastal areas, or parks with strong amenities and stable occupancy.
| Park Name | City | Cap Rate | Sites | Est. Value |
|---|---|---|---|---|
| Dune Creek Manufactured Home Community | Michigan City | 4.0% | 590 | $47,199,999 |
| CR Mobile Home Park | Ligonier | 4.93% | 6 | $320,093 |
| Yogi Bear's Jellystone Park Camp Resort | Fremont | 5.07% | 540 | $30,248,926 |
| Shipshewana RV Park & Service Center | Shipshewana | 5.57% | 165 | $8,841,578 |
| Yogi Bear’s Jellystone Park Camp Resort | Portage | 5.97% | 940 | $48,817,585 |
| Shamrock Hills RV Park | South Bend | 6.97% | 2 | $109,432 |
| Indian Lakes RV Campground | Sunman | 7.0% | 800 | $12,577,100 |
| Indian Springs Campground & Splash Springs Aqua Park | Garrett | 8.6% | 350 | $16,800,000 |
| Alexandria Mobile Home Park | Alexandria | 9.0% | 15 | $320,149 |
| Eby Pines RV Park and Campground | Bonneyville Mill | 10.1% | 330 | $7,771,705 |
Get Full Owner Contact Data for Indiana
Cap rates tell you where to look. Owner contact data gets you in the door. Access phone numbers, emails, and deal pipeline tools for every park in Indiana.
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