Real Estate Investment Properties for Sale in Shelbyville, IN

Looking for investment property in Shelbyville, IN with high ROI ?

Explore a variety of short-term homes & houses in Shelbyville, IN. Invest wisely with VRBO & Shelbyville, IN Airbnb properties available for purchase. Find your ideal investment property among our curated listings for a rewarding real estate venture.

Investment Property for Sale in Shelbyville, IN

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
929 Belvedere Drive Shelbyville, IN Convenient 2 bedroom, 2 full bath home now available in Central Park. This home features ...	2 beds \| 2 baths \| 1,028 sq.ft.	$185,000	Airbnb cash on cash: 0.82% Traditional cash on cash: 6.63% Airbnb Rental Income: $792 Traditional Rental Income: $1494 Airbnb ROI: 0.82% Traditional ROI: 6.63%
844 W Franklin Street Shelbyville, IN Wonderfully priced 3 bedroom property. Has been an investment property at $1200-1300/mo fo...	3 beds \| 1 baths \| 1,246 sq.ft.	$114,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.87% Airbnb Rental Income: $null Traditional Rental Income: $1257 Airbnb ROI: N/A Traditional ROI: 6.87%
835 S Harrison Street Shelbyville, IN This spacious 3-bedroom home offers more room than meets the eye! Inside, you'll find beau...	3 beds \| 2 baths \| 2,158 sq.ft.	$274,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.37% Airbnb Rental Income: $null Traditional Rental Income: $1954 Airbnb ROI: N/A Traditional ROI: 5.37%
1120 Central Park Drive Shelbyville, IN This single-family residence in Shelby County presents an inviting home and great floor pl...	4 beds \| 3 baths \| 4,993 sq.ft.	$237,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.85% Airbnb Rental Income: $null Traditional Rental Income: $2521 Airbnb ROI: N/A Traditional ROI: 8.85%
953 W McKay Road Shelbyville, IN This is a nice single story 2 bedroom 1 bath brick condo located in South High Garden-a sm...	2 beds \| 1 baths \| 952 sq.ft.	$110,000	Airbnb cash on cash: 0.45% Traditional cash on cash: 5.95% Airbnb Rental Income: $792 Traditional Rental Income: $1057 Airbnb ROI: 0.45% Traditional ROI: 5.95%
917 Balto Drive Shelbyville, IN Welcome to this charming 4-bedroom home in an unbeatable location! With spacious living ar...	4 beds \| 3 baths \| 2,328 sq.ft.	$267,000	Airbnb cash on cash: N/A Traditional cash on cash: 8.04% Airbnb Rental Income: $null Traditional Rental Income: $2550 Airbnb ROI: N/A Traditional ROI: 8.04%
2183 S Fairview Drive Shelbyville, IN This spacious ranch on Shelbyville's western corridor offers comfortable single-level livi...	4 beds \| 2 baths \| 1,404 sq.ft.	$259,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.58% Airbnb Rental Income: $null Traditional Rental Income: $1956 Airbnb ROI: N/A Traditional ROI: 6.58%
13 W Rampart Street Shelbyville, IN Located directly on the northbound corridor of State Road 9, this residential-zoned parcel...	3 beds \| 3 baths \| 1,824 sq.ft.	$900,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.68% Airbnb Rental Income: $null Traditional Rental Income: $2388 Airbnb ROI: N/A Traditional ROI: 1.68%
1265 Shaw Lane Shelbyville, IN Situated on one of the more private lots in the neighborhood, this 5-bedroom, 3-bath home ...	5 beds \| 3 baths \| 3,131 sq.ft.	$409,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.51% Airbnb Rental Income: $null Traditional Rental Income: $2934 Airbnb ROI: N/A Traditional ROI: 5.51%
1301 State Street Shelbyville, IN New laminate flooring, light fixtures, breaker panel, tile walk-in shower & vinyl windows!...	1 beds \| 1 baths \| 822 sq.ft.	$129,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.74% Airbnb Rental Income: $null Traditional Rental Income: $1173 Airbnb ROI: N/A Traditional ROI: 6.74%
617 W Franklin Street Shelbyville, IN CASH COW! CALLING ALL INVESTORS! Incredible opportunity in the booming Shelbyville Communi...	N/A beds \| N/A baths \| 2,884 sq.ft.	$324,900	Airbnb cash on cash: N/A Traditional cash on cash: 1.13% Airbnb Rental Income: $null Traditional Rental Income: $1048 Airbnb ROI: N/A Traditional ROI: 1.13%
606 W 450 S Shelbyville, IN This three bedroom one bath home located in the country has lots of updates. New roof, win...	3 beds \| 1 baths \| 910 sq.ft.	$130,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.95% Airbnb Rental Income: $null Traditional Rental Income: $1174 Airbnb ROI: N/A Traditional ROI: 6.95%
904 Moriseni Street Shelbyville, IN Ready to move-in home now available! This 2 bedroom 1 bath home has a new roof, vinyl sid...	2 beds \| 1 baths \| 625 sq.ft.	$139,000	Airbnb cash on cash: 1% Traditional cash on cash: 4.38% Airbnb Rental Income: $792 Traditional Rental Income: $922 Airbnb ROI: 1% Traditional ROI: 4.38%
455 W Franklin Street Shelbyville, IN If you're looking for space to spread out, this 4-bedroom, 2 full bath home delivers! Gene...	4 beds \| 2 baths \| 2,532 sq.ft.	$199,000	Airbnb cash on cash: N/A Traditional cash on cash: 9.75% Airbnb Rental Income: $null Traditional Rental Income: $2283 Airbnb ROI: N/A Traditional ROI: 9.75%
168 W Broadway Street Shelbyville, IN Step inside and feel instantly at home in this spacious 5-bedroom property filled with nat...	5 beds \| 2 baths \| 1,970 sq.ft.	$285,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.39% Airbnb Rental Income: $null Traditional Rental Income: $2304 Airbnb ROI: N/A Traditional ROI: 6.39%
116 E South Street Shelbyville, IN Four bedroom, 2 full bath home available in Shelbyville. This home offers an updated kitc...	4 beds \| 2 baths \| 1,276 sq.ft.	$164,500	Airbnb cash on cash: N/A Traditional cash on cash: 8.05% Airbnb Rental Income: $null Traditional Rental Income: $1646 Airbnb ROI: N/A Traditional ROI: 8.05%
570 Plowman Drive Shelbyville, IN Finally, an affordable dream home! This is the Washington floorplan by Davis Homes which o...	5 beds \| 3 baths \| 2,506 sq.ft.	$295,870	Airbnb cash on cash: N/A Traditional cash on cash: 6.27% Airbnb Rental Income: $null Traditional Rental Income: $2399 Airbnb ROI: N/A Traditional ROI: 6.27%
5241 W Marietta Railroad Street Shelbyville, IN Welcome home to small town Marietta in Southwestern School District. This 1987 home has 2...	2 beds \| 1 baths \| 1,102 sq.ft.	$183,000	Airbnb cash on cash: 0.33% Traditional cash on cash: 4.57% Airbnb Rental Income: $792 Traditional Rental Income: $1210 Airbnb ROI: 0.33% Traditional ROI: 4.57%
336 W Broadway Street Shelbyville, IN Don't let the modern exterior fool you-this stunning home is full of character and charm o...	4 beds \| 2 baths \| 4,108 sq.ft.	$319,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.16% Airbnb Rental Income: $null Traditional Rental Income: $2181 Airbnb ROI: N/A Traditional ROI: 5.16%
328 E Mechanic Street Shelbyville, IN A distinctive opportunity awaits that presents a truly great option for investors and all ...	4 beds \| 2 baths \| 2,240 sq.ft.	$120,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.3% Airbnb Rental Income: $null Traditional Rental Income: $951 Airbnb ROI: N/A Traditional ROI: 5.3%
243 W Locust Street Shelbyville, IN This charming home is perfect for a first-time buyer! Featuring 2 bedrooms and 1 bathroom,...	2 beds \| 1 baths \| 1,272 sq.ft.	$154,900	Airbnb cash on cash: 1.05% Traditional cash on cash: 7.75% Airbnb Rental Income: $792 Traditional Rental Income: $1463 Airbnb ROI: 1.05% Traditional ROI: 7.75%
918 Anderson Street Shelbyville, IN If you're looking for a 3-bedroom, 2-bath home in a great location, this one checks all th...	3 beds \| 2 baths \| 1,332 sq.ft.	$182,500	Airbnb cash on cash: N/A Traditional cash on cash: 7.43% Airbnb Rental Income: $null Traditional Rental Income: $1680 Airbnb ROI: N/A Traditional ROI: 7.43%
225 E Pennsylvania Street Shelbyville, IN Welcome home to this charming 3-bedroom, 1-bath property full of character and opportunity...	3 beds \| 1 baths \| 1,176 sq.ft.	$139,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.04% Airbnb Rental Income: $null Traditional Rental Income: $1324 Airbnb ROI: N/A Traditional ROI: 7.04%
606 Howard Street Shelbyville, IN Just around the bend, you'll find a place you could call home! Walk into a living room wit...	3 beds \| 2 baths \| 1,584 sq.ft.	$179,500	Airbnb cash on cash: N/A Traditional cash on cash: 7.57% Airbnb Rental Income: $null Traditional Rental Income: $1701 Airbnb ROI: N/A Traditional ROI: 7.57%
818 Moriseni Avenue Shelbyville, IN Welcome To This Charming 3 Bed / 2 Bath Home . Freshly Painted, Full Privacy Fenced Back Y...	3 beds \| 2 baths \| 1,440 sq.ft.	$169,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.5% Airbnb Rental Income: $null Traditional Rental Income: $1438 Airbnb ROI: N/A Traditional ROI: 6.5%
2426 Simpson Lane Shelbyville, IN Welcome home to this condominium which presents a distinguished living opportunity, reflec...	3 beds \| 3 baths \| 1,498 sq.ft.	$254,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.08% Airbnb Rental Income: $null Traditional Rental Income: $1719 Airbnb ROI: N/A Traditional ROI: 4.08%
328-330 W Mechanic Street Shelbyville, IN A distinctive opportunity awaits that presents a truly great option for investors and all ...	N/A beds \| N/A baths \| N/A	$99,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.3% Airbnb Rental Income: $null Traditional Rental Income: $988 Airbnb ROI: N/A Traditional ROI: 5.3%
1033 Balto Drive Shelbyville, IN PRICE REDUCTION!!! SO MUCH SPACE!! With four dedicated bedrooms and a huge lofe upstairs, ...	4 beds \| 3 baths \| 2,800 sq.ft.	$279,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.92% Airbnb Rental Income: $null Traditional Rental Income: $2680 Airbnb ROI: N/A Traditional ROI: 7.92%
2207 S Fairview Drive Shelbyville, IN This remodeled Shelbyville ranch is move-in-ready and sits on a generous, quiet subdivisio...	3 beds \| 1 baths \| 1,482 sq.ft.	$260,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.37% Airbnb Rental Income: $null Traditional Rental Income: $1504 Airbnb ROI: N/A Traditional ROI: 4.37%
4557 S State Road 9 Shelbyville, IN Located at 4557 S State Road 9 in Shelbyville, this established single-story residence pr...	4 beds \| 2 baths \| 1,876 sq.ft.	$239,900	Airbnb cash on cash: N/A Traditional cash on cash: 7.79% Airbnb Rental Income: $null Traditional Rental Income: $2221 Airbnb ROI: N/A Traditional ROI: 7.79%
1225 E Hazelwood Street S Shelbyville, IN Discover the inviting lifestyle awaiting you at 1225 E Hazelwood St S, SHELBYVILLE, IN. Th...	4 beds \| 2 baths \| 1,656 sq.ft.	$207,500	Airbnb cash on cash: N/A Traditional cash on cash: 8.77% Airbnb Rental Income: $null Traditional Rental Income: $2054 Airbnb ROI: N/A Traditional ROI: 8.77%
2590 S Smithland Road Shelbyville, IN Discover the inviting charm of this one owner home located at 2590 S Smithland RD in Shelb...	3 beds \| 2 baths \| 1,411 sq.ft.	$264,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.7% Airbnb Rental Income: $null Traditional Rental Income: $1838 Airbnb ROI: N/A Traditional ROI: 5.7%
4239 E State Road 44 Shelbyville, IN Close to town on 1 acre, plus qualifies for USDA loans! From the garage you enter a sunro...	3 beds \| 1 baths \| 1,236 sq.ft.	$239,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.95% Airbnb Rental Income: $null Traditional Rental Income: $1491 Airbnb ROI: N/A Traditional ROI: 4.95%
407 Eberhart Drive Shelbyville, IN This place is fresh, clean, and move-in ready & you can take that to the BANK! (Seriously,...	3 beds \| 1 baths \| 984 sq.ft.	$194,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.06% Airbnb Rental Income: $null Traditional Rental Income: $1230 Airbnb ROI: N/A Traditional ROI: 5.06%
939 Olmsted Court Shelbyville, IN Meet 939 Olmsted Ct, a residence recently updated with fresh interior paint and new applia...	4 beds \| 3 baths \| 1,846 sq.ft.	$249,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.52% Airbnb Rental Income: $null Traditional Rental Income: $2289 Airbnb ROI: N/A Traditional ROI: 7.52%
734 5th Street Shelbyville, IN Stately, stylish, and full of charm, 734 5th Street is a beautifully presented 2 bedroom, ...	2 beds \| 1 baths \| 931 sq.ft.	$184,900	Airbnb cash on cash: 0.31% Traditional cash on cash: 3.84% Airbnb Rental Income: $792 Traditional Rental Income: $1093 Airbnb ROI: 0.31% Traditional ROI: 3.84%
914 Elm Street Shelbyville, IN At 914 Elm ST, SHELBYVILLE, IN, discover a charming single-family residence, built in 1900...	2 beds \| 1 baths \| 1,146 sq.ft.	$129,900	Airbnb cash on cash: 1.19% Traditional cash on cash: 6.73% Airbnb Rental Income: $792 Traditional Rental Income: $1164 Airbnb ROI: 1.19% Traditional ROI: 6.73%
457 W Mechanic Street Shelbyville, IN Great Opportunity - Fixer Upper! This 2-bedroom, 1-bath home is full of potential and rea...	2 beds \| 1 baths \| 1,013 sq.ft.	$120,000	Airbnb cash on cash: 1.83% Traditional cash on cash: 8.65% Airbnb Rental Income: $792 Traditional Rental Income: $1261 Airbnb ROI: 1.83% Traditional ROI: 8.65%
1003 S Shelby Street Shelbyville, IN This charming 2-bedroom, 1-bath home offers the perfect blend of comfort and convenience. ...	2 beds \| 1 baths \| 768 sq.ft.	$145,900	Airbnb cash on cash: 0.87% Traditional cash on cash: 5.72% Airbnb Rental Income: $792 Traditional Rental Income: $1149 Airbnb ROI: 0.87% Traditional ROI: 5.72%
1494 W 250 S Shelbyville, IN Discover the perfect blend of peaceful living and everyday convenience in this beautifully...	3 beds \| 2 baths \| 1,553 sq.ft.	$264,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.45% Airbnb Rental Income: $null Traditional Rental Income: $1915 Airbnb ROI: N/A Traditional ROI: 5.45%

Real Estate investment in Shelbyville, IN

There are 43 properties for sale in the city of Shelbyville . The median list price in Shelbyville is $318,000 and the average price per square foot is $161. In May 2026, the average monthly cash on cash return in Shelbyville is 6.00%. The average monthly rental income in Shelbyville is $1,915.

Shelbyville, IN Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 43 investment properties available for sale in Shelbyville.

In 2026, the best neighborhood to buy investment property is Shelbyville.

The ROI for Long-Term is higher than the Short-Term in Shelbyville with average rental income of $1,915.

Your search for investment property begins and ends here

Investment Property for Sale in Shelbyville, IN

929 Belvedere Drive

Shelbyville, IN

2 beds | 2 baths | 1,028 sq.ft.

$185,000

Airbnb cash on cash: 0.82%

Traditional cash on cash: 6.63%

Airbnb Rental Income: $792

Traditional Rental Income: $1494

Airbnb ROI: 0.82%

Traditional ROI: 6.63%

844 W Franklin Street

Shelbyville, IN

3 beds | 1 baths | 1,246 sq.ft.

$114,900

Airbnb cash on cash: N/A

Traditional cash on cash: 6.87%

Airbnb Rental Income: $null

Traditional Rental Income: $1257

Airbnb ROI: N/A

Traditional ROI: 6.87%

835 S Harrison Street

Shelbyville, IN

3 beds | 2 baths | 2,158 sq.ft.

$274,900

Airbnb cash on cash: N/A

Traditional cash on cash: 5.37%

Airbnb Rental Income: $null

Traditional Rental Income: $1954

Airbnb ROI: N/A

Traditional ROI: 5.37%

1120 Central Park Drive

Shelbyville, IN

4 beds | 3 baths | 4,993 sq.ft.

$237,000

Airbnb cash on cash: N/A

Traditional cash on cash: 8.85%

Airbnb Rental Income: $null

Traditional Rental Income: $2521

Airbnb ROI: N/A

Traditional ROI: 8.85%

953 W McKay Road

Shelbyville, IN

2 beds | 1 baths | 952 sq.ft.

$110,000

Airbnb cash on cash: 0.45%

Traditional cash on cash: 5.95%

Airbnb Rental Income: $792

Traditional Rental Income: $1057

Airbnb ROI: 0.45%

Traditional ROI: 5.95%

917 Balto Drive

Shelbyville, IN

4 beds | 3 baths | 2,328 sq.ft.

$267,000

Airbnb cash on cash: N/A

Traditional cash on cash: 8.04%

Airbnb Rental Income: $null

Traditional Rental Income: $2550

Airbnb ROI: N/A

Traditional ROI: 8.04%

2183 S Fairview Drive

Shelbyville, IN

4 beds | 2 baths | 1,404 sq.ft.

$259,900

Airbnb cash on cash: N/A

Traditional cash on cash: 6.58%

Airbnb Rental Income: $null

Traditional Rental Income: $1956

Airbnb ROI: N/A

Traditional ROI: 6.58%

13 W Rampart Street

Shelbyville, IN

3 beds | 3 baths | 1,824 sq.ft.

$900,000

Airbnb cash on cash: N/A

Traditional cash on cash: 1.68%

Airbnb Rental Income: $null

Traditional Rental Income: $2388

Airbnb ROI: N/A