Real Estate Investing in Selma, Indiana (47383)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47383 (Selma, 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 Selma, IN (47383)?
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Market Analysis: 47383 Selma
From a cash-flow lens, ZIP 47383 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $250K median. It rewards specialists, not generalists.
The 47383 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Nearby ZIPs in Selma have seen price recovery that 47383 has not matched. Delaware County data supports the view that the spread is structural rather than temporary.
Demographically, 47383 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
seems 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 Selma:
Property Strategy for 47383
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $139,851 | $1,110 | 5.7% | +8.1% | $69,926 |
| 3BR | $221,619 | $1,440 | 4.7% | +8.5% | $73,873 |
| 4BR | $302,202 | $1,790 | 4.3% | +7.9% | $75,551 |
Market Trends
Home Value History (with trend line)
📊 How Does 47383 Compare?
| Metric | 47383 | Selma | Muncie, IN | Indiana |
|---|---|---|---|---|
| Home Value | $249,884 | $249,884 | N/A | $248,442 |
| 5-Year CAGR | 7.5% | 7.5% | N/A | 7.7% |
| Avg Rent | $999 | $999 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
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 47383 (Selma, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $249,884 |
| Monthly Rent | $999 |
| Price-to-Rent | 20.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +8.2% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +7.5% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 (3.1%). 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 47383
Population: 2,564
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 47383
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
Is Selma, IN a good place for real estate investing?
Yes - Selma, IN a 3.0/5 investability score. With $250K home prices against $999/mo monthly rent, the market delivers a reasonable entry point for new investors.
What type of investing works in Selma, IN?
Investors usually favor careful cash-flow rentals with hands-on management in Selma, IN. With home values at $250K and rents near $999/mo, other strategies can work but produce reliable rather than outsized returns.
What are rental rates like in Selma, IN?
Average rent in Selma, IN is approximately $999/mo per month. Against $250K home values that yields a reasonable rent-to-price ratio.
How do landlord-tenant laws work in Selma, IN?
IN ranks as a landlord-friendly state for landlord-tenant law. Selma generally follows the statewide framework, so landlords face reasonable operating rules.
Do landlords face vacancy issues in Selma, IN?
Expect elevated vacancy in Selma, IN. Rents at $999/mo are absorbed by the tenant base without meaningful lag.
You know 47383 now. You don’t know where it ranks.
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How 47383 ranks in Muncie, IN
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