Real Estate Investing in Goodland, Indiana (47948)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47948 (Goodland, IN)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 15.5% 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 Goodland, IN (47948)?
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Market Analysis: 47948 Goodland
ZIP 47948 in Goodland, IN carries a resilient set of headwinds. Home values near $157K and rents of $864/mo sit inside a market where underwriting has to be tight.
The 47948 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within IN, ZIP 47948 trails on several market indicators that neighboring Newton County submarkets outperform. The gap is real and substantial enough to shape underwriting.
Employment concentration in 47948 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 47948 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Goodland:
Property Strategy for 47948
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $112,192 | $960 | 6.2% | +10.1% | $56,096 |
| 3BR | $165,063 | $1,180 | 5.1% | +8.7% | $55,021 |
| 4BR | $180,454 | $1,280 | 5.1% | +7.3% | $45,113 |
Market Trends
Home Value History (with trend line)
📊 How Does 47948 Compare?
| Metric | 47948 | Goodland | Indiana |
|---|---|---|---|
| Home Value | $157,084 | $157,084 | $248,442 |
| 5-Year CAGR | 4.9% | 4.9% | 7.7% |
| Avg Rent | $864 | $864 | - |
| Cap Rate | 4.3% | 4.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 47948 (Goodland, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $157,084 |
| Monthly Rent | $864 |
| Price-to-Rent | 15.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +0.2% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +4.9% ▲ |
| 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 (4.3%). 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 47948
Population: 1,158
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
What do rentals go for in Goodland, IN?
Rental rates in Goodland, IN average $864/mo. Tenant demand and $157K home values make the yield look reasonable by investor standards.
Is Goodland, IN landlord-friendly?
IN law landlord-friendly for landlords, and Goodland inherits those rules. Investors should still review local ordinances for rental licensing.
Which investment style suits Goodland, IN?
A careful cash-flow rentals with hands-on management strategy Goodland, IN best. The market produces even-keeled results for that approach at the $157K price point.
What is the renter demographic in Goodland, IN?
Tenant quality in Goodland, IN ranks as solid. Landlords generally report measured occupancy at market rents of $864/mo.
Is Goodland, IN a smart market for rental property?
The 3.0/5 investability rating in Goodland, IN reflects its $157K prices and $864/mo rents. Investors generally consider it a solid option within IN.
You know 47948 now. You don’t know where it ranks.
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How 47948 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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