Real Estate Investing in Millington, Tennessee (38053)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38053 (Millington, TN)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Elevated vacancy: 8.5% vacancy may signal weakening demand.
What’s happening in Millington, TN (38053)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 38053 Millington
Turning to rents, ZIP 38053 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $245K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $245K asset, 38053 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader TN picture, 38053 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 38053 ZIP's population of 25,352 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reflects the need for careful underwriting.
Experienced landlords with local relationships tend to find 38053 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Millington:
Property Strategy for 38053
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $146,382 | $1,260 | 6.2% | +7.5% | $73,191 |
| 3BR | $215,448 | $1,660 | 5.5% | +7.4% | $71,816 |
| 4BR | $324,098 | $1,940 | 4.3% | +6.2% | $81,025 |
| 5BR | $434,330 | — | — | +5.9% | $86,866 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 38053 Compare?
| Metric | 38053 | Millington | Memphis, TN-MS-AR | Tennessee |
|---|---|---|---|---|
| Home Value | $245,137 | $122,568 | N/A | $327,001 |
| 5-Year CAGR | 5.0% | 5.0% | N/A | 7.7% |
| Avg Rent | $1,595 | $1,595 | N/A | - |
| Cap Rate | 5.1% | 5.1% | - | - |
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 38053 (Millington, TN). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 38053 (Millington, TN)?
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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 | $245,137 |
| Monthly Rent | $1,595 |
| Price-to-Rent | 12.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.8% |
| Cap Rate | 5.1% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +3.0% ▲ |
| 3-Year CAGR | +2.0% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.1%). 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 38053
Population: 25,352
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 38053
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 3,007 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average home sale price in Millington, TN?
Median home price in Millington, TN is near $245K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
How should investors approach Millington, TN?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Millington, TN. The numbers - $245K homes against $1,595/mo rents - support that play.
Is Millington, TN a friendly market for rental owners?
Landlord-friendliness in Millington, TN is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Does house hacking work in Millington, TN?
House hacking in Millington, TN is a challenging. With home values around $245K and rents at $1,595/mo, owner-occupants can offset a meaningful share of PITI.
How strong is tenant demand in Millington, TN?
Tenant demand in Millington, TN is solid. The local workforce $1,595/mo rents across most rental classes.
You know 38053 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38053 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 38053 ranks in Memphis, TN-MS-AR
Every ZIP in this metro, ranked. Free.
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