Real Estate Investing in Carthage, Tennessee (37030)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37030 (Carthage, TN)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
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 Carthage, TN (37030)?
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Market Analysis: 37030 Carthage
Put differently, ZIP 37030 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $281K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $281K asset, 37030 is the wrong submarket. If the plan prices in friction, the yield can still work.
ZIP 37030's metrics run below Smith County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Looking more closely, 7,889 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Experienced landlords with local relationships tend to find 37030 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Carthage:
Property Strategy for 37030
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $210,788 | $1,050 | 3.6% | +9.2% | $105,394 |
| 3BR | $309,863 | $1,370 | 3.2% | +8.1% | $103,288 |
| 4BR | $366,519 | $1,390 | 2.7% | +8.3% | $91,630 |
Market Trends
Home Value History (with trend line)
📊 How Does 37030 Compare?
| Metric | 37030 | Carthage | Nashville-Davidson--Murfreesboro--Franklin, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $280,589 | $280,589 | N/A | $327,001 |
| 5-Year CAGR | 4.3% | 4.3% | N/A | 7.7% |
| Avg Rent | $945 | $945 | N/A | - |
| Cap Rate | 2.6% | 2.6% | - | - |
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 37030 (Carthage, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $280,589 |
| Monthly Rent | $945 |
| Price-to-Rent | 24.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 7.0% |
📈 Home Appreciation
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +1.8% ▲ |
| 5-Year CAGR | +4.3% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 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 (2.6%). 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 37030
Population: 7,889
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 37030
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
Frequently Asked Questions
Should investors worry about vacancy in Carthage, TN?
Carthage, TN sees elevated vacancy, which is reasonable relative to the broader TN rental market.
What is the typical rental rate in Carthage, TN?
The typical rental in Carthage, TN commands about $945/mo monthly. That rent profile stable cash flow against the $281K purchase basis.
What is the tenant pool like in Carthage, TN?
The tenant pool in Carthage, TN is solid, supported by local employment and population fundamentals. Rents of $945/mo are well-absorbed by the market.
How viable is house hacking in Carthage, TN?
The house hack math a challenging in Carthage, TN. Owner-occupant buyers benefit from the $945/mo rents and $281K home values.
Is Carthage, TN a smart market for rental property?
The 3.0/5 investability rating in Carthage, TN reflects its $281K prices and $945/mo rents. Investors generally consider it a solid option within TN.
You know 37030 now. You don’t know where it ranks.
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How 37030 ranks in Nashville-Davidson--Murfreesboro--Franklin, TN
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