Real Estate Investing in Farmland, Indiana (47340)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47340 (Farmland, 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: 11.8% 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 Farmland, IN (47340)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47340 Farmland
Not every below-median market is a bargain. Farmland's 47340 ZIP shows signals that favor experienced operators who can absorb the risk $184K pricing implies.
On balance, the numbers look inviting — $184K purchase price, 0.0% nominal cap — the work to hit that pro forma in 47340 is substantial and deserves full respect.
Turning to rents, 47340 offers a low basis, the region around Farmland has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 47340 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 47340 is an operator game, not a passive one. Stepping back, entry prices of $184K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Farmland:
Property Strategy for 47340
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $132,387 | $1,000 | 5.4% | +8.6% | $66,193 |
| 3BR | $174,172 | $1,320 | 5.5% | +7.5% | $58,057 |
| 4BR | $220,223 | $1,320 | 4.3% | +8.7% | $55,056 |
Market Trends
Home Value History (with trend line)
📊 How Does 47340 Compare?
| Metric | 47340 | Farmland | Indiana |
|---|---|---|---|
| Home Value | $183,759 | $183,759 | $248,442 |
| 5-Year CAGR | 6.6% | 6.6% | 7.7% |
| Avg Rent | $900 | $900 | - |
| 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 47340 (Farmland, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $183,759 |
| Monthly Rent | $900 |
| Price-to-Rent | 17.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.8% |
| 5-Year IRR | 10.4% |
📈 Home Appreciation
| 1-Year | +11.6% ▲ |
| 3-Year CAGR | +6.8% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 47340
Population: 3,267
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
🎓 Nearby Colleges & Universities
Investor Insight: With 1,042 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How high is vacancy risk in Farmland, IN?
Vacancy risk in Farmland, IN is elevated. That supports consistent cash flow for typical rental holds.
What do landlords charge for rent in Farmland, IN?
Rent in Farmland, IN is around $900/mo. The resulting rent-to-value relationship with $184K pricing is reasonable for most investor models.
Are landlord laws favorable in Farmland, IN?
Farmland, IN operates under IN law, which is landlord-friendly overall for landlords. Expect reliable treatment in typical lease and eviction cases.
Does a duplex house hack pencil in Farmland, IN?
For house hackers, Farmland, IN is a challenging. The $900/mo rent on a unit helps defray the mortgage on a $184K property.
Is Farmland in IN worth investing in?
Our data puts Farmland, IN at 3.0/5 for investability. Home prices of $184K and rents around $900/mo create a solid backdrop for investor activity.
You know 47340 now. You don’t know where it ranks.
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