Real Estate Investing in Butlerville, Indiana (47223)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47223 (Butlerville, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 14.9% of homes vacant — above national norms.
- Elevated poverty: 20.7% poverty rate — can affect rent collection.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Butlerville, IN (47223)?
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Market Analysis: 47223 Butlerville
This part of Jennings County is not an easy win. The 47223 ZIP reflects softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 47223 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Nearby ZIPs in Butlerville have seen price recovery that 47223 has not matched. Jennings County data supports the view that the spread is structural rather than temporary.
Employment concentration in 47223 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Butlerville's stable or hybrid ZIPs before stepping into 47223. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Butlerville:
Property Strategy for 47223
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $168,022 | $1,020 | 4.4% | +9.6% | $84,011 |
| 3BR | $219,053 | $1,370 | 4.5% | +9.5% | $73,018 |
Market Trends
Home Value History (with trend line)
📊 How Does 47223 Compare?
| Metric | 47223 | Butlerville | North Vernon, IN | Indiana |
|---|---|---|---|---|
| Home Value | $210,269 | $210,269 | N/A | $248,442 |
| 5-Year CAGR | 7.1% | 7.1% | N/A | 7.7% |
| Avg Rent | $918 | $918 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
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 47223 (Butlerville, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $210,269 |
| Monthly Rent | $918 |
| Price-to-Rent | 19.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +5.8% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +7.1% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 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 (3.4%). 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 47223
Population: 1,190
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 approach is best for Butlerville, IN real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Butlerville, IN. The numbers - $210K homes against $918/mo rents - support that play.
How much rent can I charge in Butlerville, IN?
Rents in Butlerville, IN run near $918/mo. Compared with median home prices of $210K that produces solid gross yields for typical rentals.
What kind of vacancy should I budget for in Butlerville, IN?
Occupancy in Butlerville, IN runs predictable with elevated vacancy. Well-priced units at $918/mo lease on reasonable timelines.
Are tenants stable in Butlerville, IN?
Working renters make up the core of the Butlerville, IN tenant base. The pool is reasonable for investors targeting long-term holds.
How do landlord-tenant laws work in Butlerville, IN?
IN law landlord-friendly for landlords, and Butlerville inherits those rules. Investors should still review local ordinances for rental licensing.
You know 47223 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 47223 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.
How 47223 ranks in North Vernon, IN
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