Real Estate Investing in Redkey, Indiana (47373)
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Should you buy in 47373 (Redkey, IN)? Our answer, based on the numbers below.
Strong fundamentals — affordable, appreciating, and stable. A confident pick for primary residence.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- Elevated poverty: 23.9% poverty rate — can affect rent collection.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Redkey, IN (47373)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47373 Redkey
ZIP 47373 inside Jay County looks affordable on the surface — median value of $141K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 47373 comes in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Meanwhile, 47373 offers a low basis, the region around Redkey has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 47373 includes headwinds that any investor should price in. Income distribution skews lower than Redkey averages, and tenant stability requires active management.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Redkey:
Property Strategy for 47373
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $99,988 | $990 | 7.1% | +11.0% | $49,994 |
| 3BR | $147,454 | $1,300 | 6.3% | +10.4% | $49,151 |
| 4BR | $164,333 | $1,310 | 5.7% | +9.8% | $41,083 |
Market Trends
Home Value History (with trend line)
📊 How Does 47373 Compare?
| Metric | 47373 | Redkey | Indiana |
|---|---|---|---|
| Home Value | $140,537 | $140,537 | $248,442 |
| 5-Year CAGR | 8.2% | 8.2% | 7.7% |
| Avg Rent | $891 | $891 | - |
| Cap Rate | 5.0% | 5.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47373 (Redkey, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $140,537 |
| Monthly Rent | $891 |
| Price-to-Rent | 13.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.6% |
| Cap Rate | 5.0% |
| 5-Year IRR | 13.2% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +8.2% ▲ |
| 10-Year CAGR | +8.6% ▲ |
🏠 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 (5.0%). 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 47373
Population: 2,218
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 47373
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
Frequently Asked Questions
Is housing expensive in Redkey, IN?
Homes in Redkey, IN typically sell near $141K. Prices have moved at a 0.0% 5-year CAGR, which even-keeled long-term demand.
What does house hacking look like in Redkey, IN?
Redkey, IN offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $891/mo rent level.
Are tenants stable in Redkey, IN?
Tenant demand in Redkey, IN is solid. The local workforce $891/mo rents across most rental classes.
How much rent can I charge in Redkey, IN?
The typical rental in Redkey, IN commands about $891/mo monthly. That rent profile stable cash flow against the $141K purchase basis.
What is it like being a landlord in Redkey, IN?
Redkey, IN operates under IN law, which is landlord-friendly overall for landlords. Expect predictable treatment in typical lease and eviction cases.
You know 47373 now. You don’t know where it ranks.
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