Real Estate Investing in New Paris, Ohio (45347)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 45347 (New Paris, 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.
- Elevated vacancy: 10.7% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in New Paris, OH (45347)?
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Market Analysis: 45347 New Paris
This part of Preble County is not an easy win. The 45347 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 45347 is substantial only for operators who understand what they are buying. A $209K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 45347 among OH's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
On balance, 4,029 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.
New investors are better served looking at New Paris's stable or hybrid ZIPs before stepping into 45347. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in New Paris:
Property Strategy for 45347
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $138,568 | $970 | 5.0% | +8.7% | $69,284 |
| 3BR | $201,935 | $1,300 | 4.6% | +6.8% | $67,312 |
| 4BR | $269,501 | $1,410 | 3.8% | — | $67,375 |
Market Trends
Home Value History (with trend line)
📊 How Does 45347 Compare?
| Metric | 45347 | New Paris | Greenville, OH | Ohio |
|---|---|---|---|---|
| Home Value | $208,770 | $208,770 | N/A | $237,530 |
| 5-Year CAGR | 6.3% | 6.3% | N/A | 7.4% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 45347 (New Paris, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $208,770 |
| Monthly Rent | $873 |
| Price-to-Rent | 19.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.3% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +9.8% ▲ |
| 3-Year CAGR | +5.7% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 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 (3.3%). 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 45347
Population: 4,029
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
🎓 Schools in 45347
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,552 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How deep is the rental pool in New Paris, OH?
Expect a solid tenant pool in New Paris, OH. The rental market absorbs $873/mo rents without meaningful friction.
Is New Paris, OH better for rentals, flips, or BRRRR?
For New Paris, OH, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How do home values compare in New Paris, OH?
In New Paris, OH the median home value sits at $209K. Against the broader OH market, that reads as reasonable for most investors.
Can I house hack in New Paris, OH?
New Paris, OH is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $209K price point reasonable to enter.
Is New Paris, OH good for landlords?
For rental operators, New Paris, OH rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
You know 45347 now. You don’t know where it ranks.
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How 45347 ranks in Greenville, OH
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