Real Estate Investing in Irwin, Ohio (43029)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 43029 (Irwin, OH)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.0% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 25.6 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Irwin, OH (43029)?
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Market Analysis: 43029 Irwin
ZIP 43029 inside Madison County looks affordable on the surface — median value of $354K — but the discount exists for reasons that a careful buyer should understand before committing.
Looking more closely, the numbers look inviting — $354K purchase price, 0.0% nominal cap — the work to hit that pro forma in 43029 is substantial and deserves full respect.
From an investor standpoint, 43029 offers a low basis, the region around Irwin has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
On the rental side, 524 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 43029 is an operator game, not a passive one. On balance, entry prices of $354K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Irwin:
Market Trends
Home Value History (with trend line)
📊 How Does 43029 Compare?
| Metric | 43029 | Irwin | Columbus, OH | Ohio |
|---|---|---|---|---|
| Home Value | $354,427 | $354,427 | N/A | $237,530 |
| 5-Year CAGR | 5.6% | 5.6% | N/A | 7.4% |
| Avg Rent | $1,152 | $1,152 | N/A | - |
| Cap Rate | 2.5% | 2.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 43029 (Irwin, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $354,427 |
| Monthly Rent | $1,152 |
| Price-to-Rent | 25.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +8.6% ▲ |
| 3-Year CAGR | +4.2% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 43029
Population: 524
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the average home sale price in Irwin, OH?
Irwin, OH median home values land near $354K. That is reasonable territory for investors looking at $1,152/mo-per-month rentals.
What does house hacking look like in Irwin, OH?
House hacking works a challenging in Irwin, OH. Rents of $1,152/mo against $354K acquisition make the strategy solid for owner-occupants.
What is the renter demographic in Irwin, OH?
The renter base in Irwin, OH is reasonable for the $1,152/mo price point. Screening well and pricing to market typically yields measured tenants.
How does Irwin, OH stack up for property investment?
The 3.0/5 investability rating in Irwin, OH reflects its $354K prices and $1,152/mo rents. Investors generally consider it a solid option within OH.
Is rental property easy to operate in Irwin, OH?
OH ranks as a landlord-friendly state for landlord-tenant law. Irwin generally follows the statewide framework, so landlords face reasonable operating rules.
You know 43029 now. You don’t know where it ranks.
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How 43029 ranks in Columbus, OH
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