Real Estate Investing in Otterbein, Indiana (47970)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 47970 (Otterbein, 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.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Otterbein, IN (47970)?
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Market Analysis: 47970 Otterbein
ZIP 47970 in Otterbein, IN carries a substantial set of headwinds. Home values near $221K and rents of $945/mo sit inside a market where underwriting has to be tight.
Distressed markets are won on execution, not on spreadsheets. ZIP 47970 sits at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
ZIP 47970's metrics run below Benton County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 47970 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 47970 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 Otterbein:
Property Strategy for 47970
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $157,496 | $1,050 | 4.8% | +11.4% | $78,748 |
| 3BR | $214,749 | $1,270 | 4.3% | +9.2% | $71,583 |
| 4BR | $309,321 | $1,580 | 3.7% | +9.1% | $77,330 |
Market Trends
Home Value History (with trend line)
📊 How Does 47970 Compare?
| Metric | 47970 | Otterbein | Lafayette-West Lafayette, IN | Indiana |
|---|---|---|---|---|
| Home Value | $220,778 | $220,778 | N/A | $248,442 |
| 5-Year CAGR | 6.5% | 6.5% | N/A | 7.7% |
| Avg Rent | $945 | $945 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
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 47970 (Otterbein, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $220,778 |
| Monthly Rent | $945 |
| Price-to-Rent | 19.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 9.9% |
📈 Home Appreciation
| 1-Year | +4.1% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 47970
Population: 2,634
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 47970
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 47,013 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do home values compare in Otterbein, IN?
In Otterbein, IN the median home value sits at $221K. Against the broader IN market, that reads as reasonable for most investors.
How strict are landlord regulations in Otterbein, IN?
Rental owners in Otterbein, IN deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What is the typical renter like in Otterbein, IN?
Tenant quality in Otterbein, IN ranks as solid. Landlords generally report even-keeled occupancy at market rents of $945/mo.
Can owner-occupants cash flow in Otterbein, IN?
Otterbein, IN is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $221K price point reasonable to enter.
How much is rent in Otterbein, IN?
Otterbein, IN rentals go for roughly $945/mo a month. That puts gross yield in solid territory relative to $221K acquisition costs.
You know 47970 now. You don’t know where it ranks.
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How 47970 ranks in Lafayette-West Lafayette, IN
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