Real Estate Investing in Sullivan, Indiana (47882)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47882 (Sullivan, IN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 13.9% 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 Sullivan, IN (47882)?
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Market Analysis: 47882 Sullivan
ZIP 47882 inside Sullivan County looks affordable on the surface — median value of $180K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 47882 can be a a solid fit for hunting ground — but the discount at $180K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 47882 among IN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 47882 ZIP's population of 8,494 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reports the need for careful underwriting.
leans the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Sullivan:
Property Strategy for 47882
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $113,783 | $1,050 | 6.6% | +8.7% | $56,892 |
| 3BR | $188,092 | $1,280 | 4.9% | +8.4% | $62,697 |
| 4BR | $234,181 | $1,760 | 5.4% | +7.9% | $58,545 |
Market Trends
Home Value History (with trend line)
📊 How Does 47882 Compare?
| Metric | 47882 | Sullivan | Terre Haute, IN | Indiana |
|---|---|---|---|---|
| Home Value | $180,133 | $90,066 | N/A | $248,442 |
| 5-Year CAGR | 6.8% | 6.8% | N/A | 7.7% |
| Avg Rent | $945 | $945 | N/A | - |
| Cap Rate | 4.1% | 4.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47882 (Sullivan, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $180,133 |
| Monthly Rent | $945 |
| Price-to-Rent | 15.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 10.9% |
📈 Home Appreciation
| 1-Year | +8.2% ▲ |
| 3-Year CAGR | +6.5% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 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 (4.1%). 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 47882
Population: 8,494
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 47882
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
How much rent can I charge in Sullivan, IN?
Sullivan, IN rentals go for roughly $945/mo a month. That puts gross yield in solid territory relative to $180K acquisition costs.
Does house hacking work in Sullivan, IN?
House hacking works a challenging in Sullivan, IN. Rents of $945/mo against $180K acquisition make the strategy solid for owner-occupants.
Is Sullivan, IN a smart market for rental property?
With a 3.0/5 investability score, Sullivan, IN ranks as a solid market for rental property investors. Median prices of $180K and rents of $945/mo drive the underlying numbers.
Is housing expensive in Sullivan, IN?
Sullivan, IN median home values land near $180K. That is reasonable territory for investors looking at $945/mo-per-month rentals.
Should investors worry about vacancy in Sullivan, IN?
Vacancy in Sullivan, IN is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $945/mo.
You know 47882 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 47882 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 47882 ranks in Terre Haute, IN
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