Real Estate Investing in Marengo, Indiana (47140)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47140 (Marengo, 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.
- High vacancy: 17.4% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Marengo, IN (47140)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47140 Marengo
ZIP 47140 inside Orange County looks affordable on the surface — median value of $177K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 47140 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 47140 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 47140 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 47140 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Marengo:
Property Strategy for 47140
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $135,725 | $960 | 5.1% | +9.4% | $67,862 |
| 3BR | $180,225 | $1,330 | 5.3% | +9.4% | $60,075 |
| 4BR | $252,306 | $1,510 | 4.3% | +7.7% | $63,077 |
Market Trends
Home Value History (with trend line)
📊 How Does 47140 Compare?
| Metric | 47140 | Marengo | Indiana |
|---|---|---|---|
| Home Value | $177,317 | $177,317 | $248,442 |
| 5-Year CAGR | 6.6% | 6.6% | 7.7% |
| Avg Rent | $864 | $864 | - |
| Cap Rate | 3.8% | 3.8% | - |
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 47140 (Marengo, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $177,317 |
| Monthly Rent | $864 |
| Price-to-Rent | 17.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.8% |
| 5-Year IRR | 10.4% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +8.2% ▲ |
🏠 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 (3.8%). 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 47140
Population: 2,458
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 47140
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.
Frequently Asked Questions
Are landlord laws favorable in Marengo, IN?
Rental owners in Marengo, IN deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
How do experienced investors play Marengo, IN?
The best-fit strategy in Marengo, IN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How much should I expect to pay for a home in Marengo, IN?
Expect median prices around $177K in Marengo, IN. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
Is house hacking profitable in Marengo, IN?
House hacking in Marengo, IN is reasonable to execute. Prices around $177K and rents of $864/mo solid owner-occupant economics.
How does Marengo, IN stack up for property investment?
Yes - Marengo, IN a 3.0/5 investability score. With $177K home prices against $864/mo monthly rent, the market delivers a reasonable entry point for new investors.
You know 47140 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 47140 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
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