Real Estate Investing in Depauw, Indiana (47115)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47115 (Depauw, IN)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.4% 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 Depauw, IN (47115)?
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Market Analysis: 47115 Depauw
The 47115 ZIP in Depauw, IN is a local-operator market. Outside capital chasing a $230K entry has to pair deep knowledge with the discount.
Meanwhile, the numbers look inviting — $230K purchase price, 0.0% nominal cap — the work to hit that pro forma in 47115 is substantial and deserves full respect.
ZIP 47115's metrics run below Harrison County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The demographic picture in 47115 includes headwinds that any investor should price in. Income distribution skews lower than Depauw averages, and tenant stability requires active management.
The 47115 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Depauw:
Property Strategy for 47115
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $164,209 | $1,070 | 4.7% | +7.7% | $82,105 |
| 3BR | $234,384 | $1,390 | 4.3% | +7.3% | $78,128 |
| 4BR | $319,027 | $1,590 | 3.6% | +7.2% | $79,757 |
Market Trends
Home Value History (with trend line)
📊 How Does 47115 Compare?
| Metric | 47115 | Depauw | Indiana |
|---|---|---|---|
| Home Value | $230,405 | $230,405 | $248,442 |
| 5-Year CAGR | 4.9% | 4.9% | 7.7% |
| Avg Rent | $963 | $963 | - |
| Cap Rate | 3.3% | 3.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47115 (Depauw, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $230,405 |
| Monthly Rent | $963 |
| Price-to-Rent | 19.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.3% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +5.1% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +4.9% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 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 (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 47115
Population: 2,929
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
Frequently Asked Questions
What kind of market is Depauw, IN for investors?
Our data puts Depauw, IN at 3.0/5 for investability. Home prices of $230K and rents around $963/mo create a solid backdrop for investor activity.
How quickly do rentals get leased in Depauw, IN?
Vacancy risk in Depauw, IN is elevated. That supports consistent cash flow for typical rental holds.
How much does a house cost in Depauw, IN?
In Depauw, IN the median home value sits at $230K. Against the broader IN market, that reads as reasonable for most investors.
Is Depauw, IN better for rentals, flips, or BRRRR?
Depauw, IN investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($230K prices, $963/mo rents) make it a reasonable choice.
What monthly rent should investors expect in Depauw, IN?
Average rent in Depauw, IN is approximately $963/mo per month. Against $230K home values that yields a reasonable rent-to-price ratio.
You know 47115 now. You don’t know where it ranks.
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How 47115 ranks in Louisville/Jefferson County, KY-IN
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