Real Estate Investing in Evansville, Indiana (47712)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47712 (Evansville, 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: 8.6% vacancy may signal weakening demand.
What’s happening in Evansville, IN (47712)?
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Market Analysis: 47712 Evansville
This part of Vanderburgh County is not an easy win. The 47712 ZIP stands at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $211K asset, 47712 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 47712 and stronger Evansville ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A resilient renter share of 35% in 47712 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 47712 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Evansville:
Property Strategy for 47712
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $77,349 | $860 | 8.0% | +5.4% | $77,349 |
| 2BR | $132,965 | $1,110 | 6.0% | +7.3% | $66,482 |
| 3BR | $238,667 | $1,370 | 4.1% | +7.6% | $79,556 |
| 4BR | $306,627 | $1,530 | 3.6% | +6.7% | $76,657 |
| 5BR | $360,136 | — | — | +6.0% | $72,027 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 47712 Compare?
| Metric | 47712 | Evansville | Evansville, IN-KY | Indiana |
|---|---|---|---|---|
| Home Value | $211,290 | $59,067 | N/A | $248,442 |
| 5-Year CAGR | 5.8% | 6.1% | N/A | 7.7% |
| Avg Rent | $1,114 | $1,137 | N/A | - |
| Cap Rate | 4.1% | 4.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47712 (Evansville, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $211,290 |
| Monthly Rent | $1,114 |
| Price-to-Rent | 15.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 9.9% |
📈 Home Appreciation
| 1-Year | +6.4% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 Rent Trends
| 1-Year | +13.4% ▲ |
| 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 47712
Population: 24,999
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 47712
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 1,904 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What strategy should investors use in Evansville, IN?
Evansville, IN investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($211K prices, $1,114/mo rents) make it a reasonable choice.
How much is rent in Evansville, IN?
The typical rental in Evansville, IN commands about $1,114/mo monthly. That rent profile even-keeled cash flow against the $211K purchase basis.
Are tenants stable in Evansville, IN?
The renter base in Evansville, IN is reasonable for the $1,114/mo price point. Screening well and pricing to market typically yields even-keeled tenants.
Does house hacking work in Evansville, IN?
House hacking in Evansville, IN is a challenging. With home values around $211K and rents at $1,114/mo, owner-occupants can offset a meaningful share of PITI.
What is the average home sale price in Evansville, IN?
Median home price in Evansville, IN is near $211K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
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How 47712 ranks in Evansville, IN-KY
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