Real Estate Investing in Memphis, Tennessee (38141)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38141 (Memphis, 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 Memphis, TN (38141)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 38141 Memphis
ZIP 38141 in Memphis, TN carries a notable set of headwinds. Home values near $192K and rents of $1,597/mo sit inside a market where underwriting has to be tight.
Rent of $1,597/mo on a $192K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 38141 sits below the stated 0.0% once reality is priced in.
The gap between 38141 and stronger Memphis ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The demographic picture in 38141 includes headwinds that any investor should price in. Income distribution skews lower than Memphis averages, and tenant stability requires active management.
Distressed ZIPs reward experience. healthy returns are possible in 38141, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Memphis:
Property Strategy for 38141
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $127,449 | $1,540 | 8.7% | +5.8% | $63,725 |
| 3BR | $189,263 | $2,030 | 7.7% | +6.1% | $63,088 |
| 4BR | $228,214 | $2,370 | 7.5% | +6.6% | $57,053 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 38141 Compare?
| Metric | 38141 | Memphis | Memphis, TN-MS-AR | Tennessee |
|---|---|---|---|---|
| Home Value | $192,027 | $150,680 | N/A | $327,001 |
| 5-Year CAGR | 3.2% | 2.6% | N/A | 7.7% |
| Avg Rent | $1,597 | $1,243 | N/A | - |
| Cap Rate | 6.5% | 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 38141 (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 | $192,027 |
| Monthly Rent | $1,597 |
| Price-to-Rent | 10.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.0% |
| Cap Rate | 6.5% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +0.1% ▲ |
| 3-Year CAGR | -1.2% ▼ |
| 5-Year CAGR | +3.2% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | -0.7% ▼ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.5%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 38141
Population: 23,768
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 38141
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Hickory Ridge Elementary
Winridge Elementary
Power Center Academy Elementary School
Fox Meadows Elementary
Kirby High
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 2,760 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How high is vacancy risk in Memphis, TN?
Memphis, TN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How much does a house cost in Memphis, TN?
Memphis, TN median home values land near $192K. That is reasonable territory for investors looking at $1,597/mo-per-month rentals.
What do rentals go for in Memphis, TN?
Rent in Memphis, TN is around $1,597/mo. The resulting rent-to-value relationship with $192K pricing is reasonable for most investor models.
Can owner-occupants cash flow in Memphis, TN?
For house hackers, Memphis, TN is a challenging. The $1,597/mo rent on a unit helps defray the mortgage on a $192K property.
How does Memphis, TN stack up for property investment?
Memphis, TN rates 3.0/5 for investability. With median values at $192K and rents near $1,597/mo, the market offers reasonable fundamentals for rental investors.
You know 38141 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38141 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 38141 ranks in Memphis, TN-MS-AR
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