Real Estate Investing in Bartlett, Tennessee (38135)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38135 (Bartlett, 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.
No major risk flags on the data we track.
What’s happening in Bartlett, TN (38135)?
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Market Analysis: 38135 Bartlett
Not every below-median market is a bargain. Bartlett's 38135 ZIP stands at signals that favor experienced operators who can absorb the risk $301K pricing implies.
On the rental side, the numbers look inviting — $301K purchase price, 0.0% nominal cap — the work to hit that pro forma in 38135 is substantial and deserves full respect.
Nearby ZIPs in Bartlett have seen price recovery that 38135 has not matched. Shelby County data supports the view that the spread is structural rather than temporary.
The 38135 ZIP's population of 30,490 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
Strategy in 38135 is an operator game, not a passive one. From a cash-flow lens, entry prices of $301K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Bartlett:
Property Strategy for 38135
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $175,161 | $1,820 | 7.5% | +7.6% | $87,580 |
| 3BR | $254,503 | $2,400 | 6.8% | +6.8% | $84,834 |
| 4BR | $355,945 | $2,800 | 5.7% | +6.2% | $88,986 |
| 5BR | $399,663 | — | — | +6.3% | $79,933 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 38135 Compare?
| Metric | 38135 | Bartlett | Memphis, TN-MS-AR | Tennessee |
|---|---|---|---|---|
| Home Value | $301,004 | $288,094 | N/A | $327,001 |
| 5-Year CAGR | 3.8% | 3.7% | N/A | 7.7% |
| Avg Rent | $1,896 | $1,732 | N/A | - |
| Cap Rate | 4.9% | 4.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38135 (Bartlett, 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 | $301,004 |
| Monthly Rent | $1,896 |
| Price-to-Rent | 13.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.6% |
| Cap Rate | 4.9% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +0.9% ▲ |
| 3-Year CAGR | +0.4% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | +4.1% ▲ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +4.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.9%). 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 38135
Population: 30,490
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 38135
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 5,147 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is vacancy a concern in Bartlett, TN?
Expect elevated vacancy in Bartlett, TN. Rents at $1,896/mo are absorbed by the tenant base without meaningful lag.
Is it easy to find good tenants in Bartlett, TN?
Tenant demand in Bartlett, TN is solid. The local workforce $1,896/mo rents across most rental classes.
Is real estate in Bartlett, TN a good investment right now?
Bartlett, TN scores 3.0/5 for investability. Home values sit at $301K and rents near $1,896/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Can owner-occupants cash flow in Bartlett, TN?
Bartlett, TN is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $301K price point reasonable to enter.
What are rental rates like in Bartlett, TN?
Rental rates in Bartlett, TN average $1,896/mo. Tenant demand and $301K home values make the yield look reasonable by investor standards.
You know 38135 now. You don’t know where it ranks.
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How 38135 ranks in Memphis, TN-MS-AR
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