Real Estate Investing in Winchester, Indiana (47394)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47394 (Winchester, 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: 11.7% 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 Winchester, IN (47394)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47394 Winchester
ZIP 47394 inside Randolph County looks affordable on the surface — median value of $162K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 47394 is robust only for operators who understand what they are buying. A $162K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 47394's metrics run below Randolph County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Put differently, 8,137 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Experienced landlords with local relationships tend to find 47394 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Winchester:
Property Strategy for 47394
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $114,129 | $990 | 6.2% | +8.0% | $57,065 |
| 3BR | $157,002 | $1,310 | 6.0% | +7.5% | $52,334 |
| 4BR | $188,369 | $1,310 | 5.0% | +6.4% | $47,092 |
| 5BR | $188,154 | — | — | +5.2% | $37,631 |
Market Trends
Home Value History (with trend line)
📊 How Does 47394 Compare?
| Metric | 47394 | Winchester | Indiana |
|---|---|---|---|
| Home Value | $162,330 | $162,330 | $248,442 |
| 5-Year CAGR | 6.6% | 6.6% | 7.7% |
| Avg Rent | $891 | $891 | - |
| Cap Rate | 4.3% | 4.3% | - |
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 47394 (Winchester, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $162,330 |
| Monthly Rent | $891 |
| Price-to-Rent | 15.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 10.9% |
📈 Home Appreciation
| 1-Year | +12.5% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 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 (4.3%). 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 47394
Population: 8,137
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 47394
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
What is the average home sale price in Winchester, IN?
Typical homes in Winchester, IN go for around $162K. The 5-year CAGR of 0.0% steady price movement.
Is real estate in Winchester, IN a good investment right now?
Winchester, IN scores 3.0/5 for investability. Home values sit at $162K and rents near $891/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What investment strategy works best in Winchester, IN?
In Winchester, IN the sturdy play is typically careful cash-flow rentals with hands-on management. The combination of $162K prices and $891/mo rents suits that approach.
Does house hacking make sense in Winchester, IN?
House hacking works a challenging in Winchester, IN. Rents of $891/mo against $162K acquisition make the strategy solid for owner-occupants.
Is Winchester, IN landlord-friendly?
IN law landlord-friendly for landlords, and Winchester inherits those rules. Investors should still review local ordinances for rental licensing.
You know 47394 now. You don’t know where it ranks.
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