Real Estate Investing in Sulphur Springs, Indiana (47388)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47388 (Sulphur Springs, IN)? Our answer, based on the numbers below.
Strong fundamentals — affordable, appreciating, and stable. A confident pick for primary residence.
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.
• 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 Sulphur Springs, IN (47388)?
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Market Analysis: 47388 Sulphur Springs
ZIP 47388 inside Henry County looks affordable on the surface — median value of $169K — but the discount exists for reasons that a careful buyer should understand before committing.
The 47388 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
ZIP 47388's metrics run below Henry County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Resident income in 47388 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
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 Sulphur Springs:
Market Trends
Home Value History (with trend line)
📊 How Does 47388 Compare?
| Metric | 47388 | Sulphur Springs | New Castle, IN | Indiana |
|---|---|---|---|---|
| Home Value | $168,902 | $168,902 | N/A | $248,442 |
| 5-Year CAGR | 8.0% | 8.0% | N/A | 7.7% |
| Avg Rent | $999 | $999 | N/A | - |
| Cap Rate | 4.6% | 4.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47388 (Sulphur Springs, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $168,902 |
| Monthly Rent | $999 |
| Price-to-Rent | 14.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.1% |
| Cap Rate | 4.6% |
| 5-Year IRR | 12.6% |
📈 Home Appreciation
| 1-Year | +7.8% ▲ |
| 3-Year CAGR | +6.8% ▲ |
| 5-Year CAGR | +8.0% ▲ |
| 10-Year CAGR | +8.7% ▲ |
🏠 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 (4.6%). 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 47388
Population: 413
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
🎓 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
What do landlords charge for rent in Sulphur Springs, IN?
Rent in Sulphur Springs, IN is around $999/mo. The resulting rent-to-value relationship with $169K pricing is reasonable for most investor models.
What real estate strategy is ideal for Sulphur Springs, IN?
Sulphur Springs, IN investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($169K prices, $999/mo rents) make it a reasonable choice.
Is Sulphur Springs in IN worth investing in?
Our data puts Sulphur Springs, IN at 3.0/5 for investability. Home prices of $169K and rents around $999/mo create a solid backdrop for investor activity.
What are vacancy rates like in Sulphur Springs, IN?
Sulphur Springs, IN sees elevated vacancy, which is reasonable relative to the broader IN rental market.
Can I live-in-and-rent in Sulphur Springs, IN?
The house hack math a challenging in Sulphur Springs, IN. Owner-occupant buyers benefit from the $999/mo rents and $169K home values.
You know 47388 now. You don’t know where it ranks.
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How 47388 ranks in New Castle, IN
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