Real Estate Investing in Carlisle, Indiana (47838)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47838 (Carlisle, 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.
- High vacancy: 13.7% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Carlisle, IN (47838)?
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Market Analysis: 47838 Carlisle
The 47838 ZIP in Carlisle, IN is a local-operator market. Outside capital chasing a $157K entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 47838 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Carlisle have seen price recovery that 47838 has not matched. Sullivan County data supports the view that the spread is structural rather than temporary.
The 47838 ZIP's population of 3,952 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
The 47838 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 Carlisle:
Property Strategy for 47838
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $94,358 | $970 | 7.4% | +7.5% | $47,179 |
| 3BR | $169,240 | $1,180 | 5.0% | +7.2% | $56,413 |
Market Trends
Home Value History (with trend line)
📊 How Does 47838 Compare?
| Metric | 47838 | Carlisle | Terre Haute, IN | Indiana |
|---|---|---|---|---|
| Home Value | $156,934 | $156,934 | N/A | $248,442 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 7.7% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 4.3% | 4.3% | - | - |
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 47838 (Carlisle, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $156,934 |
| Monthly Rent | $873 |
| Price-to-Rent | 15.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.3% |
| 5-Year IRR | 10.4% |
📈 Home Appreciation
| 1-Year | +5.0% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 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 (4.3%). 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 47838
Population: 3,952
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 47838
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
Is housing expensive in Carlisle, IN?
Carlisle, IN median home values land near $157K. That is reasonable territory for investors looking at $873/mo-per-month rentals.
Is Carlisle, IN a friendly market for rental owners?
For rental operators, Carlisle, IN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
How qualified is the tenant pool in Carlisle, IN?
Expect a solid tenant pool in Carlisle, IN. The rental market absorbs $873/mo rents without meaningful friction.
Is real estate in Carlisle, IN a good investment right now?
Carlisle, IN rates 3.0/5 for investability. With median values at $157K and rents near $873/mo, the market offers reasonable fundamentals for rental investors.
What does house hacking look like in Carlisle, IN?
For house hackers, Carlisle, IN is a challenging. The $873/mo rent on a unit helps defray the mortgage on a $157K property.
You know 47838 now. You don’t know where it ranks.
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How 47838 ranks in Terre Haute, IN
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