This paper analyzes the effects of additives on the properties of Iron oxide. The Iron oxide was synthesized using the co-precipitation method. The X-ray diffraction (XRD) peaks of resultant Iron oxide perfectly matched with JCPDS #860550 (α phase of Iron oxide / Hematite). The additives like Cobalt oxide, Nickel metal, Indium oxide and Tin metal with diverse properties procured in readymade forms were mechanically mixed with Iron oxide in 1:99, 3:97, 5:95 and 7:93 weight ratios, respectively. The XRD peaks for additives were prominent for 7:93 (Additive: Base Material) weight % ratio samples. Therefore, for further studies, only these samples were used. In this study, variations in XRD intensity, lattice parameters, unit cell volume, grain size, micro-strains (W-H analysis), dislocation density and stacking fault probability were analyzed. The specific surface area of particles was calculated by scanning electron microscope analysis. The presence of additives was also confirmed by energy dispersive spectra (EDS). The M-H loops (Vibrating Sample Magnetometer analysis) for samples under investigation showed rare vertical shifts. The weak magnetic behavior of bare Hematite (1.0 emu/gm) sample improved to antiferromagnetic behavior due to the addition of Cobalt oxide (7.89 emu/gm) and Nickel metal (2.76 emu/gm). The addition of Indium oxide (0.65 emu/gm) and Tin metal (0.73 emu/gm) samples showed a decreased magnetic saturation.