Real Estate Investing in Spiceland, Indiana (47385)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47385 (Spiceland, 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.
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 Spiceland, IN (47385)?
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Market Analysis: 47385 Spiceland
Investors eyeing 47385 need to respect the fundamentals at play. Home values of $213K come alongside slower price movement and elevated management overhead.
The investment case in 47385 is impressive only for operators who understand what they are buying. A $213K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
The gap between 47385 and stronger Spiceland ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Demographically, 47385 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.
The right play in 47385 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Spiceland:
Property Strategy for 47385
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $152,327 | $960 | 4.5% | +12.4% | $76,164 |
| 3BR | $213,825 | $1,150 | 3.9% | +10.1% | $71,275 |
| 4BR | $230,945 | $1,270 | 4.0% | +10.5% | $57,736 |
Market Trends
Home Value History (with trend line)
📊 How Does 47385 Compare?
| Metric | 47385 | Spiceland | New Castle, IN | Indiana |
|---|---|---|---|---|
| Home Value | $213,109 | $213,109 | N/A | $248,442 |
| 5-Year CAGR | 8.5% | 8.5% | N/A | 7.7% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 3.2% | 3.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47385 (Spiceland, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $213,109 |
| Monthly Rent | $864 |
| Price-to-Rent | 20.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 11.7% |
📈 Home Appreciation
| 1-Year | +5.2% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +8.5% ▲ |
| 10-Year CAGR | +8.7% ▲ |
🏠 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 (3.2%). 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 47385
Population: 1,700
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
How strict are landlord regulations in Spiceland, IN?
Spiceland, IN operates under IN law, which is landlord-friendly overall for landlords. Expect reliable treatment in typical lease and eviction cases.
Is it easy to find good tenants in Spiceland, IN?
The renter base in Spiceland, IN is reasonable for the $864/mo price point. Screening well and pricing to market typically yields stable tenants.
Is Spiceland, IN a good place for real estate investing?
Spiceland, IN reflects an investability rating of 3.0/5, with median home values near $213K and average rents around $864/mo. That combination puts it in the durable tier for investor interest.
What do rentals go for in Spiceland, IN?
Rental rates in Spiceland, IN average $864/mo. Tenant demand and $213K home values make the yield look reasonable by investor standards.
How do home values compare in Spiceland, IN?
Homes in Spiceland, IN typically sell near $213K. Prices have moved at a 0.0% 5-year CAGR, which steady long-term demand.
You know 47385 now. You don’t know where it ranks.
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How 47385 ranks in New Castle, IN
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