Real Estate Investing in Henry, Tennessee (38231)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38231 (Henry, TN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
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.
- Elevated poverty: 20.0% poverty rate — can affect rent collection.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Henry, TN (38231)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 38231 Henry
On the rental side, ZIP 38231 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $202K median. It rewards specialists, not generalists.
The investment case in 38231 is impressive only for operators who understand what they are buying. A $202K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 38231 among TN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 38231 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 38231 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 Henry:
Market Trends
Home Value History (with trend line)
📊 How Does 38231 Compare?
| Metric | 38231 | Henry | Paris, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $202,121 | $202,121 | N/A | $327,001 |
| 5-Year CAGR | 7.1% | 7.1% | N/A | 7.7% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38231 (Henry, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $202,121 |
| Monthly Rent | $864 |
| Price-to-Rent | 19.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +13.4% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +7.1% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (3.3%). 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 38231
Population: 2,012
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 38231
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
What kind of vacancy should I budget for in Henry, TN?
Henry, TN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is Henry, TN a friendly market for rental owners?
For rental operators, Henry, TN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What is the average home sale price in Henry, TN?
Typical homes in Henry, TN go for around $202K. The 5-year CAGR of 0.0% steady price movement.
How much is rent in Henry, TN?
Henry, TN rentals go for roughly $864/mo a month. That puts gross yield in solid territory relative to $202K acquisition costs.
What does house hacking look like in Henry, TN?
For house hackers, Henry, TN is a challenging. The $864/mo rent on a unit helps defray the mortgage on a $202K property.
You know 38231 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38231 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 38231 ranks in Paris, TN
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