Real Estate Investing in Straughn, Indiana (47387)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47387 (Straughn, 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.
- High vacancy: 30.3% of homes vacant — above national norms.
• 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 Straughn, IN (47387)?
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Market Analysis: 47387 Straughn
The 47387 ZIP in Straughn, IN is a local-operator market. Outside capital chasing a $195K entry has to pair deep knowledge with the discount.
For an experienced owner, 47387 can be a a solid fit for hunting ground — but the discount at $195K reflects genuine risk that outside investors often underestimate.
Within IN, ZIP 47387 trails on several market indicators that neighboring Henry County submarkets outperform. The gap is real and solid enough to shape underwriting.
Resident income in 47387 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 47387 is an operator game, not a passive one. Put differently, entry prices of $195K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Straughn:
Market Trends
Home Value History (with trend line)
📊 How Does 47387 Compare?
| Metric | 47387 | Straughn | New Castle, IN | Indiana |
|---|---|---|---|---|
| Home Value | $194,684 | $194,684 | N/A | $248,442 |
| 5-Year CAGR | 6.3% | 6.3% | N/A | 7.7% |
| Avg Rent | $882 | $882 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47387 (Straughn, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $194,684 |
| Monthly Rent | $882 |
| Price-to-Rent | 18.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 9.8% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 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 (3.5%). 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 47387
Population: 461
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 47387
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.
Frequently Asked Questions
How strong are rents in Straughn, IN?
The typical rental in Straughn, IN commands about $882/mo monthly. That rent profile even-keeled cash flow against the $195K purchase basis.
Are there empty rentals in Straughn, IN?
Vacancy in Straughn, IN is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $882/mo.
What kind of market is Straughn, IN for investors?
Our data puts Straughn, IN at 3.0/5 for investability. Home prices of $195K and rents around $882/mo create a solid backdrop for investor activity.
What approach is best for Straughn, IN real estate?
The best-fit strategy in Straughn, IN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What kind of tenants rent in Straughn, IN?
Straughn, IN offers a even-keeled renter base at the $882/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 47387 now. You don’t know where it ranks.
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How 47387 ranks in New Castle, IN
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