Real Estate Investing in Greenville, Indiana (47124)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47124 (Greenville, IN)? 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: 9.1% 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 Greenville, IN (47124)?
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Market Analysis: 47124 Greenville
ZIP 47124 inside Floyd County looks affordable on the surface — median value of $349K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 47124 can be a a credible choice for hunting ground — but the discount at $349K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Greenville have seen price recovery that 47124 has not matched. Floyd County data supports the view that the spread is structural rather than temporary.
Employment concentration in 47124 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Greenville:
Property Strategy for 47124
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $210,728 | $1,380 | 4.7% | +8.3% | $105,364 |
| 3BR | $314,733 | $1,760 | 4.0% | +6.1% | $104,911 |
| 4BR | $403,658 | $2,050 | 3.7% | +5.4% | $100,914 |
Market Trends
Home Value History (with trend line)
📊 How Does 47124 Compare?
| Metric | 47124 | Greenville | Indiana |
|---|---|---|---|
| Home Value | $348,970 | $348,970 | $248,442 |
| 5-Year CAGR | 4.7% | 4.7% | 7.7% |
| Avg Rent | $1,242 | $1,242 | - |
| Cap Rate | 2.8% | 2.8% | - |
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 47124 (Greenville, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $348,970 |
| Monthly Rent | $1,242 |
| Price-to-Rent | 23.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 7.5% |
📈 Home Appreciation
| 1-Year | +5.6% ▲ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 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 (2.8%). 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 47124
Population: 5,514
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 47124
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
Frequently Asked Questions
How strong is Greenville, IN for real estate investors?
Greenville, IN scores 3.0/5 for investability. Home values sit at $349K and rents near $1,242/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Do landlords face vacancy issues in Greenville, IN?
Expect elevated vacancy in Greenville, IN. Rents at $1,242/mo are absorbed by the tenant base without meaningful lag.
Is it easy to find good tenants in Greenville, IN?
The renter base in Greenville, IN is reasonable for the $1,242/mo price point. Screening well and pricing to market typically yields measured tenants.
Is Greenville, IN suited for a house hack?
The a challenging house-hack environment in Greenville, IN reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What monthly rent should investors expect in Greenville, IN?
Average rent in Greenville, IN is approximately $1,242/mo per month. Against $349K home values that yields a reasonable rent-to-price ratio.
You know 47124 now. You don’t know where it ranks.
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How 47124 ranks in Louisville/Jefferson County, KY-IN
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