Real Estate Investing in Winchester, Tennessee (37398)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37398 (Winchester, TN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 16.4% of homes vacant — above national norms.
What’s happening in Winchester, TN (37398)?
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Market Analysis: 37398 Winchester
Not every below-median market is a bargain. Winchester's 37398 ZIP stands at signals that favor experienced operators who can absorb the risk $362K pricing implies.
Distressed markets are won on execution, not on spreadsheets. ZIP 37398 stands at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within TN, ZIP 37398 trails on several market indicators that neighboring Franklin County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
The demographic picture in 37398 includes headwinds that any investor should price in. Income distribution skews lower than Winchester averages, and tenant stability requires active management.
Strategy in 37398 is an operator game, not a passive one. Looking more closely, entry prices of $362K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Winchester:
Property Strategy for 37398
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $228,957 | $990 | 3.1% | +10.8% | $114,478 |
| 3BR | $352,006 | $1,320 | 2.7% | +11.1% | $117,335 |
| 4BR | $586,992 | $1,640 | 2.0% | +10.3% | $146,748 |
| 5BR | $816,909 | — | — | +12.6% | $163,382 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 37398 Compare?
| Metric | 37398 | Winchester | Tullahoma-Manchester, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $362,497 | $337,239 | N/A | $327,001 |
| 5-Year CAGR | 6.1% | 5.6% | N/A | 7.7% |
| Avg Rent | $1,263 | $1,099 | N/A | - |
| Cap Rate | 2.7% | 2.5% | - | - |
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 37398 (Winchester, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $362,497 |
| Monthly Rent | $1,263 |
| Price-to-Rent | 23.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +3.6% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +8.4% ▲ |
🏠 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 (2.7%). 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 37398
Population: 15,712
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 37398
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
Is Winchester in TN worth investing in?
Investors tracking Winchester, TN will find a 3.0/5 rating supported by $362K median home values and $1,263/mo rents. That profile suits long-term holders targeting even-keeled returns.
Is Winchester, TN good for house hacking?
House hacking in Winchester, TN is a challenging. With home values around $362K and rents at $1,263/mo, owner-occupants can offset a meaningful share of PITI.
How much rent can I charge in Winchester, TN?
Winchester, TN rentals go for roughly $1,263/mo a month. That puts gross yield in solid territory relative to $362K acquisition costs.
What are home prices like in Winchester, TN?
Median home price in Winchester, TN is near $362K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
How tight is the rental market in Winchester, TN?
Winchester, TN carries elevated vacancy risk. Expect consistent absorption at market rents of $1,263/mo.
You know 37398 now. You don’t know where it ranks.
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How 37398 ranks in Tullahoma-Manchester, TN
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