Real Estate Investing in Milltown, Indiana (47145)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47145 (Milltown, 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: 14.7% 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 Milltown, IN (47145)?
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Market Analysis: 47145 Milltown
The 47145 ZIP in Milltown, IN is a local-operator market. Outside capital chasing a $208K entry has to pair deep knowledge with the discount.
Rent of $882/mo on a $208K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 47145 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 47145 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 47145 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 47145 is an operator game, not a passive one. Looking more closely, entry prices of $208K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Milltown:
Property Strategy for 47145
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $161,853 | $980 | 4.4% | +9.9% | $80,926 |
| 3BR | $208,033 | $1,300 | 4.5% | +9.6% | $69,344 |
| 4BR | $282,691 | $1,490 | 3.8% | +8.7% | $70,673 |
Market Trends
Home Value History (with trend line)
📊 How Does 47145 Compare?
| Metric | 47145 | Milltown | Indiana |
|---|---|---|---|
| Home Value | $208,213 | $208,213 | $248,442 |
| 5-Year CAGR | 7.2% | 7.2% | 7.7% |
| Avg Rent | $882 | $882 | - |
| 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 47145 (Milltown, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $208,213 |
| Monthly Rent | $882 |
| Price-to-Rent | 19.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +8.9% ▲ |
🏠 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 47145
Population: 1,782
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 47145
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
What is the typical home price in Milltown, IN?
In Milltown, IN the median home value sits at $208K. Against the broader IN market, that reads as reasonable for most investors.
What is the tenant pool like in Milltown, IN?
The tenant pool in Milltown, IN is solid, supported by local employment and population fundamentals. Rents of $882/mo are well-absorbed by the market.
What approach is best for Milltown, IN real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Milltown, IN. The numbers - $208K homes against $882/mo rents - support that play.
Can I live-in-and-rent in Milltown, IN?
House hacking in Milltown, IN is a challenging. With home values around $208K and rents at $882/mo, owner-occupants can offset a meaningful share of PITI.
How strong is Milltown, IN for real estate investors?
Milltown, IN scores 3.0/5 for investability. Home values sit at $208K and rents near $882/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 47145 now. You don’t know where it ranks.
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