Real Estate Investing in Hornbeak, Tennessee (38232)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38232 (Hornbeak, 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: 28.5% 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 Hornbeak, TN (38232)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 38232 Hornbeak
ZIP 38232 inside Obion looks affordable on the surface — median value of $168K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 38232 can be a a strong candidate for hunting ground — but the discount at $168K reflects genuine risk that outside investors often underestimate.
The gap between 38232 and stronger Hornbeak ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Put differently, 2,254 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
tilts toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Hornbeak:
Market Trends
Home Value History (with trend line)
📊 How Does 38232 Compare?
| Metric | 38232 | Hornbeak | Tennessee |
|---|---|---|---|
| Home Value | $168,225 | $168,225 | $327,001 |
| 5-Year CAGR | 7.5% | 7.5% | 7.7% |
| Avg Rent | $837 | $837 | - |
| Cap Rate | 3.9% | 3.9% | - |
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 38232 (Hornbeak, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $168,225 |
| Monthly Rent | $837 |
| Price-to-Rent | 16.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.0% |
| Cap Rate | 3.9% |
| 5-Year IRR | 11.4% |
📈 Home Appreciation
| 1-Year | +8.7% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +7.5% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 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 (3.9%). 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 38232
Population: 2,254
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 38232
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.
Frequently Asked Questions
Should investors consider Hornbeak, TN?
The 3.0/5 investability rating in Hornbeak, TN reflects its $168K prices and $837/mo rents. Investors generally consider it a solid option within TN.
What is the rental occupancy rate in Hornbeak, TN?
Occupancy in Hornbeak, TN runs steady with elevated vacancy. Well-priced units at $837/mo lease on reasonable timelines.
How qualified is the tenant pool in Hornbeak, TN?
The tenant pool in Hornbeak, TN is solid, supported by local employment and population fundamentals. Rents of $837/mo are well-absorbed by the market.
Where do home prices stand in Hornbeak, TN?
Hornbeak, TN median home values land near $168K. That is reasonable territory for investors looking at $837/mo-per-month rentals.
What is the average monthly rent in Hornbeak, TN?
Rent in Hornbeak, TN is around $837/mo. The resulting rent-to-value relationship with $168K pricing is reasonable for most investor models.
You know 38232 now. You don’t know where it ranks.
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