Real Estate Investing in Wadesville, Indiana (47638)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47638 (Wadesville, IN)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 27.3 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Wadesville, IN (47638)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 47638 Wadesville
Not every below-median market is a bargain. Wadesville's 47638 ZIP shows signals that favor experienced operators who can absorb the risk $301K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $301K asset, 47638 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 47638 and stronger Wadesville ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The demographic picture in 47638 includes headwinds that any investor should price in. Income distribution skews lower than Wadesville averages, and tenant stability requires active management.
The 47638 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 Wadesville:
Property Strategy for 47638
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $227,526 | $1,020 | 3.2% | +7.5% | $113,763 |
| 3BR | $298,770 | $1,250 | 3.0% | +6.8% | $99,590 |
| 4BR | $364,581 | $1,400 | 2.8% | +6.7% | $91,145 |
Market Trends
Home Value History (with trend line)
📊 How Does 47638 Compare?
| Metric | 47638 | Wadesville | Evansville, IN-KY | Indiana |
|---|---|---|---|---|
| Home Value | $300,600 | $300,600 | N/A | $248,442 |
| 5-Year CAGR | 4.9% | 4.9% | N/A | 7.7% |
| Avg Rent | $918 | $918 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
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 47638 (Wadesville, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $300,600 |
| Monthly Rent | $918 |
| Price-to-Rent | 27.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 7.3% |
📈 Home Appreciation
| 1-Year | +2.7% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +4.9% ▲ |
| 10-Year CAGR | +5.8% ▲ |
🏠 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 (2.4%). 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 47638
Population: 3,766
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 47638
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 918 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Do landlords face vacancy issues in Wadesville, IN?
Expect elevated vacancy in Wadesville, IN. Rents at $918/mo are absorbed by the tenant base without meaningful lag.
Can I live-in-and-rent in Wadesville, IN?
The house hack math a challenging in Wadesville, IN. Owner-occupant buyers benefit from the $918/mo rents and $301K home values.
How does Wadesville, IN stack up for property investment?
Yes - Wadesville, IN a 3.0/5 investability score. With $301K home prices against $918/mo monthly rent, the market delivers a reasonable entry point for new investors.
How do home values compare in Wadesville, IN?
Homes in Wadesville, IN typically sell near $301K. Prices have moved at a 0.0% 5-year CAGR, which predictable long-term demand.
What do rentals go for in Wadesville, IN?
Average rent in Wadesville, IN is approximately $918/mo per month. Against $301K home values that yields a reasonable rent-to-price ratio.
You know 47638 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 47638 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 47638 ranks in Evansville, IN-KY
Every ZIP in this metro, ranked. Free.
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