Real Estate Investing in Knoxville, Tennessee (37938)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37938 (Knoxville, TN)? 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.
What’s happening in Knoxville, TN (37938)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 37938 Knoxville
The 37938 ZIP in Knoxville, TN is a local-operator market. Outside capital chasing a $394K entry has to pair deep knowledge with the discount.
Rent of $2,100/mo on a $394K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 37938 sits below the stated 0.0% once reality is priced in.
In the broader TN picture, 37938 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 37938 ZIP's population of 16,904 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reports the need for careful underwriting.
The 37938 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Knoxville:
Property Strategy for 37938
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $253,325 | $1,460 | 4.1% | +11.2% | $126,663 |
| 3BR | $364,392 | $1,860 | 3.7% | +10.9% | $121,464 |
| 4BR | $498,055 | $2,170 | 3.1% | +10.7% | $124,514 |
| 5BR | $574,527 | — | — | +10.0% | $114,905 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 37938 Compare?
| Metric | 37938 | Knoxville | Knoxville, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $393,501 | $207,092 | N/A | $327,001 |
| 5-Year CAGR | 7.8% | 8.7% | N/A | 7.7% |
| Avg Rent | $2,100 | $1,756 | N/A | - |
| Cap Rate | 4.2% | 3.8% | - | - |
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 37938 (Knoxville, TN). Anonymous, moderated, never written by AI.
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Property managers serving Knox County
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📊 Market Snapshot
| Home Value | $393,501 |
| Monthly Rent | $2,100 |
| Price-to-Rent | 15.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.2% |
| 5-Year IRR | 12.0% |
📈 Home Appreciation
| 1-Year | +3.2% ▲ |
| 3-Year CAGR | +3.3% ▲ |
| 5-Year CAGR | +7.8% ▲ |
| 10-Year CAGR | +8.3% ▲ |
🏠 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 (4.2%). 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 37938
Population: 16,904
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 37938
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 798 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much is rent in Knoxville, TN?
Knoxville, TN rentals go for roughly $2,100/mo a month. That puts gross yield in solid territory relative to $394K acquisition costs.
What is the renter demographic in Knoxville, TN?
Tenant quality in Knoxville, TN ranks as solid. Landlords generally report stable occupancy at market rents of $2,100/mo.
How expensive is real estate in Knoxville, TN?
Median home price in Knoxville, TN is near $394K, with a 5-year CAGR of 0.0%. Prices have been reliable and supportive of buy-and-hold strategies.
Does a duplex house hack pencil in Knoxville, TN?
The a challenging house-hack environment in Knoxville, TN reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What is it like being a landlord in Knoxville, TN?
TN ranks as a landlord-friendly state for landlord-tenant law. Knoxville generally follows the statewide framework, so landlords face reasonable operating rules.
You know 37938 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 37938 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 37938 ranks in Knoxville, TN
Every ZIP in this metro, ranked. Free.
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