Real Estate Investing in French Lick, Indiana (47432)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47432 (French Lick, 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: 10.9% 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 French Lick, IN (47432)?
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Market Analysis: 47432 French Lick
The 47432 ZIP in French Lick, IN is a local-operator market. Outside capital chasing a $198K entry has to pair deep knowledge with the discount.
For an experienced owner, 47432 can be a worth a close look for hunting ground — but the discount at $198K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 47432 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Who lives in 47432 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 47432 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 French Lick:
Property Strategy for 47432
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $147,970 | $990 | 4.8% | +10.0% | $73,985 |
| 3BR | $210,615 | $1,370 | 4.7% | +9.3% | $70,205 |
| 4BR | $260,081 | $1,610 | 4.5% | +9.4% | $65,020 |
Market Trends
Home Value History (with trend line)
📊 How Does 47432 Compare?
| Metric | 47432 | French Lick | Jasper, IN | Indiana |
|---|---|---|---|---|
| Home Value | $197,849 | $197,849 | N/A | $248,442 |
| 5-Year CAGR | 7.7% | 7.7% | N/A | 7.7% |
| Avg Rent | $891 | $891 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
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 47432 (French Lick, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $197,849 |
| Monthly Rent | $891 |
| Price-to-Rent | 18.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 11.2% |
📈 Home Appreciation
| 1-Year | +7.5% ▲ |
| 3-Year CAGR | +5.7% ▲ |
| 5-Year CAGR | +7.7% ▲ |
| 10-Year CAGR | +8.2% ▲ |
🏠 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 (3.5%). 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 47432
Population: 4,721
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 47432
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
How quickly do rentals get leased in French Lick, IN?
French Lick, IN carries elevated vacancy risk. Expect predictable absorption at market rents of $891/mo.
What do rentals go for in French Lick, IN?
Average rent in French Lick, IN is approximately $891/mo per month. Against $198K home values that yields a reasonable rent-to-price ratio.
What kind of tenants rent in French Lick, IN?
Tenant quality in French Lick, IN ranks as solid. Landlords generally report measured occupancy at market rents of $891/mo.
Which investment style suits French Lick, IN?
A careful cash-flow rentals with hands-on management strategy French Lick, IN best. The market produces even-keeled results for that approach at the $198K price point.
Is French Lick, IN a good market for buy-and-hold investors?
Our data puts French Lick, IN at 3.0/5 for investability. Home prices of $198K and rents around $891/mo create a solid backdrop for investor activity.
You know 47432 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 47432 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 47432 ranks in Jasper, IN
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