Real Estate Investing in Middletown, Indiana (47356)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47356 (Middletown, 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 Middletown, IN (47356)?
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Market Analysis: 47356 Middletown
Investors eyeing 47356 need to respect the fundamentals at play. Home values of $248K come alongside slower price movement and elevated management overhead.
Rent of $882/mo on a $248K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 47356 sits below the stated 0.0% once reality is priced in.
Regionally, 47356 sits on the difficult end of the IN spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
On balance, 5,508 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 47356 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 Middletown:
Property Strategy for 47356
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $154,789 | $980 | 4.6% | +9.0% | $77,395 |
| 3BR | $241,228 | $1,250 | 3.7% | +9.4% | $80,409 |
| 4BR | $276,856 | $1,350 | 3.5% | +8.4% | $69,214 |
Market Trends
Home Value History (with trend line)
📊 How Does 47356 Compare?
| Metric | 47356 | Middletown | New Castle, IN | Indiana |
|---|---|---|---|---|
| Home Value | $248,215 | $248,215 | N/A | $248,442 |
| 5-Year CAGR | 7.4% | 7.4% | N/A | 7.7% |
| Avg Rent | $882 | $882 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
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 47356 (Middletown, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $248,215 |
| Monthly Rent | $882 |
| Price-to-Rent | 23.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | +5.9% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 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 (2.8%). 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 47356
Population: 5,508
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
🎓 Schools in 47356
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 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
Are homes affordable in Middletown, IN?
Middletown, IN home values average about $248K. That price point suits investors targeting rentals with $882/mo in monthly income.
Is rental property easy to operate in Middletown, IN?
Landlord-friendliness in Middletown, IN is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How does Middletown, IN rate as a rental market?
Middletown, IN scores 3.0/5 for investability. Home values sit at $248K and rents near $882/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How much do tenants pay in Middletown, IN?
Rent in Middletown, IN is around $882/mo. The resulting rent-to-value relationship with $248K pricing is reasonable for most investor models.
How strong is the working-renter base in Middletown, IN?
The renter base in Middletown, IN is reasonable for the $882/mo price point. Screening well and pricing to market typically yields predictable tenants.
You know 47356 now. You don’t know where it ranks.
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How 47356 ranks in New Castle, IN
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