Real Estate Investing in Gates, Tennessee (38037)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38037 (Gates, 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.
- High vacancy: 15.0% of homes vacant — above national norms.
- Elevated poverty: 22.8% poverty rate — can affect rent collection.
- Lower household income: $39,625 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Gates, TN (38037)?
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Market Analysis: 38037 Gates
ZIP 38037 inside Haywood County looks affordable on the surface — median value of $135K — but the discount exists for reasons that a careful buyer should understand before committing.
On the rental side, the numbers look inviting — $135K purchase price, 0.0% nominal cap — the work to hit that pro forma in 38037 is substantial and deserves full respect.
Regionally, 38037 sits on the difficult end of the TN spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
Demographically, 38037 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Gates:
Market Trends
Home Value History (with trend line)
📊 How Does 38037 Compare?
| Metric | 38037 | Gates | Brownsville, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $135,369 | $135,369 | N/A | $327,001 |
| 5-Year CAGR | 4.4% | 4.4% | N/A | 7.7% |
| Avg Rent | $837 | $837 | N/A | - |
| Cap Rate | 4.8% | 4.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38037 (Gates, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $135,369 |
| Monthly Rent | $837 |
| Price-to-Rent | 13.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.4% |
| Cap Rate | 4.8% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | +12.9% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +4.4% ▲ |
| 10-Year CAGR | +5.8% ▲ |
🏠 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 (4.8%). 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 38037
Population: 1,556
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 38037
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.
Frequently Asked Questions
How much rent can I charge in Gates, TN?
Investors in Gates, TN typically see rents near $837/mo per month against $135K home values - a solid setup for rental cash flow.
Is the tenant base reliable in Gates, TN?
Gates, TN draws a even-keeled base of working renters. Demand at the $837/mo rent level is reasonable for standard single-family and small multi rentals.
Is Gates, TN a good market for buy-and-hold investors?
With a 3.0/5 investability score, Gates, TN ranks as a solid market for rental property investors. Median prices of $135K and rents of $837/mo drive the underlying numbers.
Which real estate strategy fits Gates, TN?
Most investors in Gates, TN run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Do landlords face vacancy issues in Gates, TN?
Vacancy in Gates, TN is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $837/mo.
You know 38037 now. You don’t know where it ranks.
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