Real Estate Investing in Shirley, Indiana (47351)
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Should you buy in 47351 (Shirley, 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.
- Elevated vacancy: 9.8% vacancy may signal weakening demand.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Shirley, IN (47351)?
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Market Analysis: 47351 Shirley
ZIP 47351 in Shirley, IN carries a healthy set of headwinds. Home values near $152K and rents of $1,107/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $152K asset, 47351 is the wrong submarket. If the plan prices in friction, the yield can still work.
ZIP 47351's metrics run below Henry County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A robust renter share of 21% in 47351 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 47351 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Shirley:
Market Trends
Home Value History (with trend line)
📊 How Does 47351 Compare?
| Metric | 47351 | Shirley | New Castle, IN | Indiana |
|---|---|---|---|---|
| Home Value | $152,042 | $190,491 | N/A | $248,442 |
| 5-Year CAGR | 6.6% | 6.6% | N/A | 7.7% |
| Avg Rent | $1,107 | $1,049 | N/A | - |
| Cap Rate | 5.7% | 4.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47351 (Shirley, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $152,042 |
| Monthly Rent | $1,107 |
| Price-to-Rent | 11.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.7% |
| Cap Rate | 5.7% |
| 5-Year IRR | 12.3% |
📈 Home Appreciation
| 1-Year | +8.9% ▲ |
| 3-Year CAGR | +4.1% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +9.0% ▲ |
🏠 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 (5.7%). 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 47351
Population: 505
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
Frequently Asked Questions
Does Shirley, IN make sense for an investment property?
With a 3.0/5 investability score, Shirley, IN ranks as a solid market for rental property investors. Median prices of $152K and rents of $1,107/mo drive the underlying numbers.
Are tenants stable in Shirley, IN?
Shirley, IN draws a reliable base of working renters. Demand at the $1,107/mo rent level is reasonable for standard single-family and small multi rentals.
How strong are rents in Shirley, IN?
Investors in Shirley, IN typically see rents near $1,107/mo per month against $152K home values - a solid setup for rental cash flow.
Which real estate strategy fits Shirley, IN?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Shirley, IN. The numbers - $152K homes against $1,107/mo rents - support that play.
What is the average home sale price in Shirley, IN?
Typical homes in Shirley, IN go for around $152K. The 5-year CAGR of 0.0% steady price movement.
You know 47351 now. You don’t know where it ranks.
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How 47351 ranks in New Castle, IN
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