Real Estate Investing in Elizabethtown, Indiana (47232)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47232 (Elizabethtown, 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.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Elizabethtown, IN (47232)?
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Market Analysis: 47232 Elizabethtown
ZIP 47232 inside Bartholomew County looks affordable on the surface — median value of $296K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 47232 can be a a solid fit for hunting ground — but the discount at $296K reflects genuine risk that outside investors often underestimate.
The gap between 47232 and stronger Elizabethtown ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The demographic picture in 47232 includes headwinds that any investor should price in. Income distribution skews lower than Elizabethtown averages, and tenant stability requires active management.
Experienced landlords with local relationships tend to find 47232 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 Elizabethtown:
Property Strategy for 47232
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $200,725 | $1,150 | 4.1% | +9.1% | $100,363 |
| 3BR | $288,138 | $1,390 | 3.5% | +8.7% | $96,046 |
| 4BR | $380,732 | $1,600 | 3.0% | +8.3% | $95,183 |
Market Trends
Home Value History (with trend line)
📊 How Does 47232 Compare?
| Metric | 47232 | Elizabethtown | Columbus, IN | Indiana |
|---|---|---|---|---|
| Home Value | $296,053 | $296,053 | N/A | $248,442 |
| 5-Year CAGR | 6.5% | 6.5% | N/A | 7.7% |
| Avg Rent | $1,035 | $1,035 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
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 47232 (Elizabethtown, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $296,053 |
| Monthly Rent | $1,035 |
| Price-to-Rent | 23.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +5.2% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 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 (2.7%). 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 47232
Population: 2,329
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
Do rentals sit vacant long in Elizabethtown, IN?
Expect elevated vacancy in Elizabethtown, IN. Rents at $1,035/mo are absorbed by the tenant base without meaningful lag.
How strong is tenant demand in Elizabethtown, IN?
Elizabethtown, IN draws a consistent base of working renters. Demand at the $1,035/mo rent level is reasonable for standard single-family and small multi rentals.
Which investment style suits Elizabethtown, IN?
Investors usually favor careful cash-flow rentals with hands-on management in Elizabethtown, IN. With home values at $296K and rents near $1,035/mo, other strategies can work but produce even-keeled rather than outsized returns.
Is Elizabethtown, IN a friendly market for rental owners?
For rental operators, Elizabethtown, IN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What monthly rent should investors expect in Elizabethtown, IN?
Average rent in Elizabethtown, IN is approximately $1,035/mo per month. Against $296K home values that yields a reasonable rent-to-price ratio.
You know 47232 now. You don’t know where it ranks.
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How 47232 ranks in Columbus, IN
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