Real Estate Investing in Gleason, Tennessee (38229)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38229 (Gleason, TN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.7% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Gleason, TN (38229)?
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Market Analysis: 38229 Gleason
The 38229 ZIP covers a section of Gleason that demands careful diligence. Prices near $164K look accessible, but the work to make a deal cash flow is real.
The 38229 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
ZIP 38229's metrics run below Weakley County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 38229 ZIP's population of 2,509 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that comes in at the need for careful underwriting.
Distressed ZIPs reward experience. substantial returns are possible in 38229, 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 Gleason:
Market Trends
Home Value History (with trend line)
📊 How Does 38229 Compare?
| Metric | 38229 | Gleason | Martin, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $164,495 | $164,495 | N/A | $327,001 |
| 5-Year CAGR | 9.3% | 9.3% | N/A | 7.7% |
| Avg Rent | $837 | $837 | N/A | - |
| Cap Rate | 4.0% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38229 (Gleason, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $164,495 |
| Monthly Rent | $837 |
| Price-to-Rent | 16.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.1% |
| Cap Rate | 4.0% |
| 5-Year IRR | 13.2% |
📈 Home Appreciation
| 1-Year | +9.5% ▲ |
| 3-Year CAGR | +8.6% ▲ |
| 5-Year CAGR | +9.3% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 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 (4.0%). 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 38229
Population: 2,509
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 38229
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
Frequently Asked Questions
How do experienced investors play Gleason, TN?
The best-fit strategy in Gleason, TN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Where do home prices stand in Gleason, TN?
Gleason, TN home values average about $164K. That price point suits investors targeting rentals with $837/mo in monthly income.
What is the typical vacancy rate in Gleason, TN?
Occupancy in Gleason, TN runs steady with elevated vacancy. Well-priced units at $837/mo lease on reasonable timelines.
What is it like being a landlord in Gleason, TN?
TN law landlord-friendly for landlords, and Gleason inherits those rules. Investors should still review local ordinances for rental licensing.
Are rents high in Gleason, TN?
Gleason, TN rentals go for roughly $837/mo a month. That puts gross yield in solid territory relative to $164K acquisition costs.
You know 38229 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38229 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 38229 ranks in Martin, TN
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