Real Estate Investing in Milledgeville, Tennessee (38359)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38359 (Milledgeville, TN)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Elevated vacancy: 9.3% vacancy may signal weakening demand.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Milledgeville, TN (38359)?
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Market Analysis: 38359 Milledgeville
Investors eyeing 38359 need to respect the fundamentals at play. Home values of $136K come alongside slower price movement and elevated management overhead.
For an experienced owner, 38359 can be a a strong candidate for hunting ground — but the discount at $136K reflects genuine risk that outside investors often underestimate.
From an investor standpoint, 38359 offers a low basis, the region around Milledgeville has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 38359 includes headwinds that any investor should price in. Income distribution skews lower than Milledgeville averages, and tenant stability requires active management.
New investors are better served looking at Milledgeville's stable or hybrid ZIPs before stepping into 38359. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Milledgeville:
Market Trends
Home Value History (with trend line)
📊 How Does 38359 Compare?
| Metric | 38359 | Milledgeville | Tennessee |
|---|---|---|---|
| Home Value | $135,739 | $135,739 | $327,001 |
| 5-Year CAGR | N/A | N/A | 7.7% |
| Avg Rent | $1,008 | $1,008 | - |
| Cap Rate | 5.8% | 5.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38359 (Milledgeville, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $135,739 |
| Monthly Rent | $1,008 |
| Price-to-Rent | 11.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.9% |
| Cap Rate | 5.8% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +3.4% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 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 (5.8%). 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 38359
Population: 306
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
🎓 Nearby Colleges & Universities
Investor Insight: With 513 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are rental rates like in Milledgeville, TN?
Rent in Milledgeville, TN is around $1,008/mo. The resulting rent-to-value relationship with $136K pricing is reasonable for most investor models.
What investment strategy works best in Milledgeville, TN?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Milledgeville, TN. The numbers - $136K homes against $1,008/mo rents - support that play.
Do rentals sit vacant long in Milledgeville, TN?
Milledgeville, TN sees elevated vacancy, which is reasonable relative to the broader TN rental market.
How strong is the working-renter base in Milledgeville, TN?
Milledgeville, TN draws a reliable base of working renters. Demand at the $1,008/mo rent level is reasonable for standard single-family and small multi rentals.
How does Milledgeville, TN stack up for property investment?
Milledgeville, TN rates 2.0/5 for investability. With median values at $136K and rents near $1,008/mo, the market offers reasonable fundamentals for rental investors.
You know 38359 now. You don’t know where it ranks.
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