Real Estate Investing in Cordova, Tennessee (38016)
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Should you buy in 38016 (Cordova, TN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
No major risk flags on the data we track.
What’s happening in Cordova, TN (38016)?
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Market Analysis: 38016 Cordova
The 38016 ZIP in Cordova, TN is a local-operator market. Outside capital chasing a $295K entry has to pair deep knowledge with the discount.
The investment case in 38016 is healthy only for operators who understand what they are buying. A $295K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 38016 sits on the difficult end of the TN spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
A significant renter share of 42% in 38016 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 38016 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 Cordova:
Property Strategy for 38016
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $185,947 | $1,570 | 6.1% | +6.4% | $92,974 |
| 3BR | $264,668 | $2,070 | 5.6% | +6.5% | $88,223 |
| 4BR | $331,320 | $2,420 | 5.3% | +5.7% | $82,830 |
| 5BR | $374,113 | — | — | +5.5% | $74,823 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 38016 Compare?
| Metric | 38016 | Cordova | Memphis, TN-MS-AR | Tennessee |
|---|---|---|---|---|
| Home Value | $294,872 | $294,872 | N/A | $327,001 |
| 5-Year CAGR | 2.9% | 2.9% | N/A | 7.7% |
| Avg Rent | $1,585 | $1,585 | N/A | - |
| Cap Rate | 4.2% | 4.2% | - | - |
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 38016 (Cordova, TN). Anonymous, moderated, never written by AI.
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Property managers serving Shelby County
Manage rentals here? List your business →Advantage Property Management offers property management services in Memphis, TN, and surrounding areas, including Section 8 property management, maintenance, and renovations. summary from their website
Enterprise Property Management offers property management services in Memphis. summary from their website
Foundation Property Management offers property management services in Memphis, TN. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $294,872 |
| Monthly Rent | $1,585 |
| Price-to-Rent | 15.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.5% |
| Cap Rate | 4.2% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | -0.5% ▼ |
| 3-Year CAGR | -0.9% ▼ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | -8.1% ▼ |
| 3-Year CAGR | -1.8% ▼ |
| 5-Year CAGR | +0.7% ▲ |
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 38016
Population: 44,390
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 38016
Schools in This ZIP Code
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
Memphis School of Excellence Elementary Cordova
Cordova Elementary
Memphis School of Excellence Cordova
Cordova Middle
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 5,147 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much should I expect to pay for a home in Cordova, TN?
Cordova, TN home values average about $295K. That price point suits investors targeting rentals with $1,585/mo in monthly income.
Should investors consider Cordova, TN?
Cordova, TN reports an investability rating of 3.0/5, with median home values near $295K and average rents around $1,585/mo. That combination puts it in the significant tier for investor interest.
Is rental property easy to operate in Cordova, TN?
TN ranks as a landlord-friendly state for landlord-tenant law. Cordova generally follows the statewide framework, so landlords face reasonable operating rules.
What are rental rates like in Cordova, TN?
Cordova, TN rentals go for roughly $1,585/mo a month. That puts gross yield in solid territory relative to $295K acquisition costs.
Are renters plentiful in Cordova, TN?
The tenant pool in Cordova, TN is solid, supported by local employment and population fundamentals. Rents of $1,585/mo are well-absorbed by the market.
You know 38016 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38016 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 38016 ranks in Memphis, TN-MS-AR
Every ZIP in this metro, ranked. Free.
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