Real Estate Investing in Portland, Indiana (47371)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47371 (Portland, 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: 9.4% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Portland, IN (47371)?
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Market Analysis: 47371 Portland
This part of Jay County is not an easy win. The 47371 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
For an experienced owner, 47371 can be a a strong candidate for hunting ground — but the discount at $171K reflects genuine risk that outside investors often underestimate.
In the broader IN picture, 47371 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 47371 ZIP's population of 12,450 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that comes in at the need for careful underwriting.
The right play in 47371 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 Portland:
Property Strategy for 47371
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $86,274 | $730 | 6.1% | +4.4% | $86,274 |
| 2BR | $113,396 | $960 | 6.1% | +7.7% | $56,698 |
| 3BR | $170,481 | $1,260 | 5.3% | +7.6% | $56,827 |
| 4BR | $207,555 | $1,270 | 4.4% | +7.3% | $51,889 |
| 5BR | $237,565 | — | — | +7.2% | $47,513 |
Market Trends
Home Value History (with trend line)
📊 How Does 47371 Compare?
| Metric | 47371 | Portland | Indiana |
|---|---|---|---|
| Home Value | $170,526 | $170,526 | $248,442 |
| 5-Year CAGR | 5.7% | 5.7% | 7.7% |
| Avg Rent | $864 | $864 | - |
| Cap Rate | 4.0% | 4.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47371 (Portland, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $170,526 |
| Monthly Rent | $864 |
| Price-to-Rent | 16.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.1% |
| Cap Rate | 4.0% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +4.2% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 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 (4.0%). 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 47371
Population: 12,450
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 47371
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
Does Portland, IN favor landlords or tenants?
IN ranks as a landlord-friendly state for landlord-tenant law. Portland generally follows the statewide framework, so landlords face reasonable operating rules.
How strong is tenant demand in Portland, IN?
Tenant demand in Portland, IN is solid. The local workforce $864/mo rents across most rental classes.
What are home prices like in Portland, IN?
Expect median prices around $171K in Portland, IN. The market has run at a 0.0% 5-year CAGR, so entry costs have been even-keeled.
Should investors consider Portland, IN?
Investors tracking Portland, IN will find a 3.0/5 rating supported by $171K median home values and $864/mo rents. That profile suits long-term holders targeting stable returns.
How strong are rents in Portland, IN?
Portland, IN rentals go for roughly $864/mo a month. That puts gross yield in solid territory relative to $171K acquisition costs.
You know 47371 now. You don’t know where it ranks.
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