Real Estate Investing in Washington, Indiana (47501)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47501 (Washington, 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.
- Elevated vacancy: 9.4% 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 Washington, IN (47501)?
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Market Analysis: 47501 Washington
This part of Daviess County is not an easy win. The 47501 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 47501 is solid only for operators who understand what they are buying. A $193K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 47501 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 47501 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
New investors are better served looking at Washington's stable or hybrid ZIPs before stepping into 47501. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Washington:
Property Strategy for 47501
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $77,230 | $780 | 7.3% | +5.9% | $77,230 |
| 2BR | $126,631 | $1,020 | 5.8% | +8.8% | $63,315 |
| 3BR | $199,752 | $1,260 | 4.5% | +7.6% | $66,584 |
| 4BR | $262,784 | $1,350 | 3.7% | +7.0% | $65,696 |
| 5BR | $271,603 | — | — | +6.6% | $54,321 |
Market Trends
Home Value History (with trend line)
📊 How Does 47501 Compare?
| Metric | 47501 | Washington | Washington, IN | Indiana |
|---|---|---|---|---|
| Home Value | $193,484 | $193,484 | N/A | $248,442 |
| 5-Year CAGR | 5.8% | 5.8% | N/A | 7.7% |
| Avg Rent | $918 | $918 | N/A | - |
| Cap Rate | 3.7% | 3.7% | - | - |
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 47501 (Washington, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $193,484 |
| Monthly Rent | $918 |
| Price-to-Rent | 17.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +6.3% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 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 (3.7%). 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 47501
Population: 18,335
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 47501
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
Are homes affordable in Washington, IN?
Typical homes in Washington, IN go for around $193K. The 5-year CAGR of 0.0% steady price movement.
Is it easy to find good tenants in Washington, IN?
Washington, IN offers a consistent renter base at the $918/mo rent level. Tenant turnover is reasonable for well-managed properties.
Is Washington, IN good for landlords?
Rental owners in Washington, IN deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Are there empty rentals in Washington, IN?
Washington, IN carries elevated vacancy risk. Expect consistent absorption at market rents of $918/mo.
What is the average monthly rent in Washington, IN?
The typical rental in Washington, IN commands about $918/mo monthly. That rent profile reliable cash flow against the $193K purchase basis.
You know 47501 now. You don’t know where it ranks.
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