Real Estate Investing in Bloomfield, Indiana (47424)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47424 (Bloomfield, IN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.0% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Bloomfield, IN (47424)?
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Market Analysis: 47424 Bloomfield
This part of Greene County is not an easy win. The 47424 ZIP registers softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 47424 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Bloomfield have seen price recovery that 47424 has not matched. Greene County data supports the view that the spread is structural rather than temporary.
On balance, 8,620 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.
New investors are better served looking at Bloomfield's stable or hybrid ZIPs before stepping into 47424. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Bloomfield:
Property Strategy for 47424
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $162,578 | $770 | 3.4% | +9.2% | $162,578 |
| 2BR | $167,640 | $1,010 | 4.3% | +10.2% | $83,820 |
| 3BR | $220,482 | $1,270 | 4.1% | +9.3% | $73,494 |
| 4BR | $297,803 | $1,430 | 3.5% | +9.0% | $74,451 |
Market Trends
Home Value History (with trend line)
📊 How Does 47424 Compare?
| Metric | 47424 | Bloomfield | Indiana |
|---|---|---|---|
| Home Value | $230,019 | $230,019 | $248,442 |
| 5-Year CAGR | 7.8% | 7.8% | 7.7% |
| Avg Rent | $909 | $909 | - |
| 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 47424 (Bloomfield, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $230,019 |
| Monthly Rent | $909 |
| Price-to-Rent | 21.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 10.9% |
📈 Home Appreciation
| 1-Year | +8.4% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +7.8% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 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 47424
Population: 8,620
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 47424
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 a duplex house hack pencil in Bloomfield, IN?
The a challenging house-hack environment in Bloomfield, IN reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What type of investing works in Bloomfield, IN?
A careful cash-flow rentals with hands-on management strategy Bloomfield, IN best. The market produces even-keeled results for that approach at the $230K price point.
How do landlord-tenant laws work in Bloomfield, IN?
IN law landlord-friendly for landlords, and Bloomfield inherits those rules. Investors should still review local ordinances for rental licensing.
How does Bloomfield, IN rate as a rental market?
Bloomfield, IN scores 3.0/5 for investability. Home values sit at $230K and rents near $909/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Where do home prices stand in Bloomfield, IN?
Bloomfield, IN home values average about $230K. That price point suits investors targeting rentals with $909/mo in monthly income.
You know 47424 now. You don’t know where it ranks.
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