Real Estate Investing in Evansville, Indiana (47713)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47713 (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 balanced market — moderate cash flow and moderate appreciation. A "steady" investor profile fits best.
- High vacancy: 16.7% of homes vacant — above national norms.
- Lower household income: $36,147 median — tenant affordability is tighter.
What’s happening in Evansville, IN (47713)?
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Market Analysis: 47713 Evansville
Homes in the 47713 ZIP trade near $100K, a discount that has historically rewarded investors willing to renovate. Rent comps near $1,016/mo support the pro forma.
BRRRR works in 47713 because the math supports it. Buy at $100K, rehab, and the refinance step typically recovers capital in a way that flat-yield markets cannot match.
Relative to IN, 47713 reads as a working-capital ZIP — prices below average, renter share elevated at 58%, and room for operator-led upside.
Household income in 47713 supports the rent-lift thesis. 9,930 residents, deep working-age cohort, and the kind of tenant profile that responds to upgraded stock.
Flippers with local expertise can do well in 47713. Out-of-state investors should partner with boots-on-the-ground operators or skip the ZIP entirely.
Here's what matters if you're considering buying a home in Evansville:
Property Strategy for 47713
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $74,816 | $1,080 | 10.4% | +12.4% | $37,408 |
| 3BR | $108,998 | $1,330 | 8.8% | +10.4% | $36,333 |
| 4BR | $130,474 | $1,490 | 8.2% | +7.5% | $32,619 |
| 5BR | $170,708 | — | — | +4.7% | $34,142 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 47713 Compare?
| Metric | 47713 | Evansville | Evansville, IN-KY | Indiana |
|---|---|---|---|---|
| Home Value | $99,877 | $59,067 | N/A | $248,442 |
| 5-Year CAGR | 8.0% | 6.1% | N/A | 7.7% |
| Avg Rent | $1,016 | $1,137 | N/A | - |
| Cap Rate | 7.9% | 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 47713 (Evansville, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $99,877 |
| Monthly Rent | $1,016 |
| Price-to-Rent | 8.2:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 12.2% |
| Cap Rate | 7.9% |
| 5-Year IRR | 15.9% |
📈 Home Appreciation
| 1-Year | +9.8% ▲ |
| 3-Year CAGR | +8.2% ▲ |
| 5-Year CAGR | +8.0% ▲ |
| 10-Year CAGR | +8.6% ▲ |
🏠 Rent Trends
| 1-Year | -4.9% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (7.9%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 47713
Population: 9,930
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 47713
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Dexter Elementary School
Lodge Community School
McGary Middle School
Washington Middle School
Fairlawn Elementary School
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
Is Evansville, IN a good place for real estate investing?
Evansville, IN records an investability rating of 5.0/5, with median home values near $100K and average rents around $1,016/mo. That combination puts it in the sturdy tier for investor interest.
Which real estate strategy fits Evansville, IN?
Investors who focus on value-add and BRRRR deals typically do well in Evansville, IN. The numbers - $100K homes against $1,016/mo rents - support that play.
How much rent can I charge in Evansville, IN?
Rents in Evansville, IN run near $1,016/mo. Compared with median home prices of $100K that produces solid gross yields for typical rentals.
Is the 1% rule achievable in Evansville, IN?
Yes, many Evansville, IN properties clear the 1% rule. The rent-to-price ratio averages 1.02%, supported by $1,016/mo rents.
Can investors BRRRR in Evansville, IN?
Evansville, IN is a strong for BRRRR. Acquiring below market, rehabbing, and leasing at $1,016/mo produces solid refinance appraisals against $100K values.
You know 47713 now. You don’t know where it ranks.
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How 47713 ranks in Evansville, IN-KY
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