Real Estate Investing in Lewis, Indiana (47858)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47858 (Lewis, 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 poverty: 45.8% poverty rate — can affect rent collection.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Lewis, IN (47858)?
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Market Analysis: 47858 Lewis
ZIP 47858 in Lewis, IN carries a durable set of headwinds. Home values near $214K and rents of $900/mo sit inside a market where underwriting has to be tight.
Rent of $900/mo on a $214K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 47858 sits below the stated 0.0% once reality is priced in.
On the rental side, 47858 offers a low basis, the region around Lewis has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 47858 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
New investors are better served looking at Lewis's stable or hybrid ZIPs before stepping into 47858. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Lewis:
Market Trends
Home Value History (with trend line)
📊 How Does 47858 Compare?
| Metric | 47858 | Lewis | Terre Haute, IN | Indiana |
|---|---|---|---|---|
| Home Value | $214,075 | $214,075 | N/A | $248,442 |
| 5-Year CAGR | 6.3% | 6.3% | N/A | 7.7% |
| Avg Rent | $900 | $900 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47858 (Lewis, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $214,075 |
| Monthly Rent | $900 |
| Price-to-Rent | 19.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.3% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +6.4% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 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 (3.3%). 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 47858
Population: 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
Frequently Asked Questions
Does house hacking work in Lewis, IN?
For house hackers, Lewis, IN is a challenging. The $900/mo rent on a unit helps defray the mortgage on a $214K property.
What are vacancy rates like in Lewis, IN?
Lewis, IN carries elevated vacancy risk. Expect steady absorption at market rents of $900/mo.
Should investors consider Lewis, IN?
Lewis, IN sits at an investability rating of 3.0/5, with median home values near $214K and average rents around $900/mo. That combination puts it in the solid tier for investor interest.
Is Lewis, IN good for landlords?
Rental owners in Lewis, IN deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
How strong is tenant demand in Lewis, IN?
Expect a solid tenant pool in Lewis, IN. The rental market absorbs $900/mo rents without meaningful friction.
You know 47858 now. You don’t know where it ranks.
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How 47858 ranks in Terre Haute, IN
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