Real Estate Investing in Memphis, Tennessee (38119)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38119 (Memphis, 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 Memphis, TN (38119)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 38119 Memphis
This part of Shelby County is not an easy win. The 38119 ZIP reflects softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $295K asset, 38119 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 38119 and stronger Memphis ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Who lives in 38119 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Experienced landlords with local relationships tend to find 38119 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 Memphis:
Property Strategy for 38119
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $123,434 | $1,310 | 7.6% | +4.1% | $123,434 |
| 2BR | $150,337 | $1,450 | 6.9% | +5.7% | $75,169 |
| 3BR | $253,563 | $1,920 | 5.5% | +5.8% | $84,521 |
| 4BR | $342,641 | $2,230 | 4.7% | +4.9% | $85,660 |
| 5BR | $468,776 | — | — | +5.1% | $93,755 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 38119 Compare?
| Metric | 38119 | Memphis | Memphis, TN-MS-AR | Tennessee |
|---|---|---|---|---|
| Home Value | $294,535 | $150,680 | N/A | $327,001 |
| 5-Year CAGR | 2.4% | 2.6% | N/A | 7.7% |
| Avg Rent | $1,587 | $1,243 | N/A | - |
| Cap Rate | 4.2% | 6.8% | - | - |
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 38119 (Memphis, 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 | $294,535 |
| Monthly Rent | $1,587 |
| Price-to-Rent | 15.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.5% |
| Cap Rate | 4.2% |
| 5-Year IRR | 6.6% |
📈 Home Appreciation
| 1-Year | +0.5% ▲ |
| 3-Year CAGR | -0.5% ▼ |
| 5-Year CAGR | +2.4% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 Rent Trends
| 1-Year | -7.1% ▼ |
| 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 38119
Population: 22,332
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 38119
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Farmington Elementary School
Forest Hill Elementary School
Germantown Elementary
Hickory Ridge Elementary
Winridge Elementary
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
Where do rents currently stand in Memphis, TN?
Rental rates in Memphis, TN average $1,587/mo. Tenant demand and $295K home values make the yield look reasonable by investor standards.
Which real estate strategy fits Memphis, TN?
Investors usually favor careful cash-flow rentals with hands-on management in Memphis, TN. With home values at $295K and rents near $1,587/mo, other strategies can work but produce consistent rather than outsized returns.
Is Memphis, TN a good place for real estate investing?
Our data puts Memphis, TN at 3.0/5 for investability. Home prices of $295K and rents around $1,587/mo create a solid backdrop for investor activity.
Does house hacking make sense in Memphis, TN?
Memphis, TN is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $295K price point reasonable to enter.
Are renters plentiful in Memphis, TN?
Memphis, TN offers a even-keeled renter base at the $1,587/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 38119 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38119 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 38119 ranks in Memphis, TN-MS-AR
Every ZIP in this metro, ranked. Free.
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