Real Estate Investing in Bloomington, Indiana (47404)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47404 (Bloomington, IN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.9% vacancy may signal weakening demand.
What’s happening in Bloomington, IN (47404)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47404 Bloomington
From an investor standpoint, ZIP 47404 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $318K median. It rewards specialists, not generalists.
The 47404 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
In the broader IN picture, 47404 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 47404 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 47404 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Bloomington:
Property Strategy for 47404
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $180,918 | $1,100 | 4.4% | +5.2% | $180,918 |
| 2BR | $222,508 | $1,240 | 4.0% | +6.9% | $111,254 |
| 3BR | $298,396 | $1,610 | 3.9% | +6.9% | $99,465 |
| 4BR | $382,899 | $1,950 | 3.7% | +6.6% | $95,725 |
| 5BR | $467,460 | — | — | +5.8% | $93,492 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 47404 Compare?
| Metric | 47404 | Bloomington | Bloomington, IN | Indiana |
|---|---|---|---|---|
| Home Value | $317,607 | $157,328 | N/A | $248,442 |
| 5-Year CAGR | 5.0% | 4.8% | N/A | 7.7% |
| Avg Rent | $1,529 | $1,355 | N/A | - |
| Cap Rate | 3.8% | 3.3% | - | - |
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 47404 (Bloomington, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $317,607 |
| Monthly Rent | $1,529 |
| Price-to-Rent | 17.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | +5.0% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 Rent Trends
| 1-Year | -13.3% ▼ |
| 3-Year CAGR | -1.0% ▼ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). 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 47404
Population: 23,614
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 47404
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 1,188 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the best play in Bloomington, IN?
The best-fit strategy in Bloomington, IN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Are renters plentiful in Bloomington, IN?
Expect a solid tenant pool in Bloomington, IN. The rental market absorbs $1,529/mo rents without meaningful friction.
What is the median home value in Bloomington, IN?
Bloomington, IN median home values land near $318K. That is reasonable territory for investors looking at $1,529/mo-per-month rentals.
Does a duplex house hack pencil in Bloomington, IN?
House hacking works a challenging in Bloomington, IN. Rents of $1,529/mo against $318K acquisition make the strategy solid for owner-occupants.
What monthly rent should investors expect in Bloomington, IN?
Rents in Bloomington, IN run near $1,529/mo. Compared with median home prices of $318K that produces solid gross yields for typical rentals.
You know 47404 now. You don’t know where it ranks.
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How 47404 ranks in Bloomington, IN
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