Real Estate Investing in Elnora, Indiana (47529)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47529 (Elnora, 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: 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 Elnora, IN (47529)?
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Market Analysis: 47529 Elnora
Put differently, ZIP 47529 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $165K median. It rewards specialists, not generalists.
For an experienced owner, 47529 can be a a viable market for hunting ground — but the discount at $165K reflects genuine risk that outside investors often underestimate.
Within IN, ZIP 47529 trails on several market indicators that neighboring Daviess County submarkets outperform. The gap is real and resilient enough to shape underwriting.
Resident income in 47529 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Elnora:
Property Strategy for 47529
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $95,091 | $960 | 7.3% | +7.7% | $47,546 |
| 3BR | $154,278 | $1,190 | 5.6% | +7.3% | $51,426 |
Market Trends
Home Value History (with trend line)
📊 How Does 47529 Compare?
| Metric | 47529 | Elnora | Washington, IN | Indiana |
|---|---|---|---|---|
| Home Value | $164,581 | $164,581 | N/A | $248,442 |
| 5-Year CAGR | 7.9% | 7.9% | N/A | 7.7% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 4.1% | 4.1% | - | - |
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 47529 (Elnora, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $164,581 |
| Monthly Rent | $864 |
| Price-to-Rent | 15.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 11.9% |
📈 Home Appreciation
| 1-Year | +18.4% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +7.9% ▲ |
| 10-Year CAGR | +9.4% ▲ |
🏠 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 (4.1%). 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 47529
Population: 1,140
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 47529
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 does Elnora, IN stack up for property investment?
Elnora, IN sits at an investability rating of 3.0/5, with median home values near $165K and average rents around $864/mo. That combination puts it in the sturdy tier for investor interest.
Do landlords face vacancy issues in Elnora, IN?
Rental vacancy in Elnora, IN is elevated. Investors should budget normal turnover but not chronic empty units.
What is the typical rental rate in Elnora, IN?
The typical rental in Elnora, IN commands about $864/mo monthly. That rent profile consistent cash flow against the $165K purchase basis.
Are landlord laws favorable in Elnora, IN?
Elnora, IN operates under IN law, which is landlord-friendly overall for landlords. Expect stable treatment in typical lease and eviction cases.
What investment strategy works best in Elnora, IN?
In Elnora, IN the durable play is typically careful cash-flow rentals with hands-on management. The combination of $165K prices and $864/mo rents suits that approach.
You know 47529 now. You don’t know where it ranks.
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Community Ratings
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