Real Estate Investing in Friendship, Tennessee (38034)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38034 (Friendship, TN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 13.3% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Friendship, TN (38034)?
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Market Analysis: 38034 Friendship
Not every below-median market is a bargain. Friendship's 38034 ZIP posts signals that favor experienced operators who can absorb the risk $186K pricing implies.
Distressed markets are won on execution, not on spreadsheets. ZIP 38034 comes in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
ZIP 38034's metrics run below Crockett County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The demographic picture in 38034 includes headwinds that any investor should price in. Income distribution skews lower than Friendship averages, and tenant stability requires active management.
Strategy in 38034 is an operator game, not a passive one. On the rental side, entry prices of $186K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Friendship:
Market Trends
Home Value History (with trend line)
📊 How Does 38034 Compare?
| Metric | 38034 | Friendship | Jackson, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $185,660 | $185,660 | N/A | $327,001 |
| 5-Year CAGR | 7.0% | 7.0% | N/A | 7.7% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 3.7% | 3.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38034 (Friendship, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $185,660 |
| Monthly Rent | $873 |
| Price-to-Rent | 17.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.7% |
| 5-Year IRR | 10.7% |
📈 Home Appreciation
| 1-Year | +12.6% ▲ |
| 3-Year CAGR | +7.2% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 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 (3.7%). 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 38034
Population: 3,366
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 38034
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 3,169 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Where do rents currently stand in Friendship, TN?
Investors in Friendship, TN typically see rents near $873/mo per month against $186K home values - a solid setup for rental cash flow.
How high is vacancy risk in Friendship, TN?
Friendship, TN carries elevated vacancy risk. Expect even-keeled absorption at market rents of $873/mo.
What is the best play in Friendship, TN?
Friendship, TN investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($186K prices, $873/mo rents) make it a reasonable choice.
Is Friendship, TN landlord-friendly?
TN ranks as a landlord-friendly state for landlord-tenant law. Friendship generally follows the statewide framework, so landlords face reasonable operating rules.
Are tenants stable in Friendship, TN?
Working renters make up the core of the Friendship, TN tenant base. The pool is reasonable for investors targeting long-term holds.
You know 38034 now. You don’t know where it ranks.
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How 38034 ranks in Jackson, TN
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