Real Estate Investing in Morris Chapel, Tennessee (38361)
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Should you buy in 38361 (Morris Chapel, 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: 26.3% of homes vacant — above national norms.
- Elevated poverty: 25.6% 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 Morris Chapel, TN (38361)?
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Market Analysis: 38361 Morris Chapel
Not every below-median market is a bargain. Morris Chapel's 38361 ZIP clocks in at signals that favor experienced operators who can absorb the risk $190K pricing implies.
Put differently, the numbers look inviting — $190K purchase price, 0.0% nominal cap — the work to hit that pro forma in 38361 is substantial and deserves full respect.
Nearby ZIPs in Morris Chapel have seen price recovery that 38361 has not matched. Hardin County data supports the view that the spread is structural rather than temporary.
Employment concentration in 38361 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 38361 is an operator game, not a passive one. On balance, entry prices of $190K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Morris Chapel:
Market Trends
Home Value History (with trend line)
📊 How Does 38361 Compare?
| Metric | 38361 | Morris Chapel | Tennessee |
|---|---|---|---|
| Home Value | $189,584 | $189,584 | $327,001 |
| 5-Year CAGR | 7.6% | 7.6% | 7.7% |
| Avg Rent | $846 | $846 | - |
| Cap Rate | 3.5% | 3.5% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38361 (Morris Chapel, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $189,584 |
| Monthly Rent | $846 |
| Price-to-Rent | 18.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +7.6% ▲ |
| 3-Year CAGR | +6.3% ▲ |
| 5-Year CAGR | +7.6% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 (3.5%). 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 38361
Population: 1,158
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 is the rental occupancy rate in Morris Chapel, TN?
Morris Chapel, TN vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How much do tenants pay in Morris Chapel, TN?
Expect rents around $846/mo per month in Morris Chapel, TN. With home values at $190K, the yield math works out to reasonable levels for rental investors.
How do home values compare in Morris Chapel, TN?
Homes in Morris Chapel, TN typically sell near $190K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
Is rental property easy to operate in Morris Chapel, TN?
Landlord-friendliness in Morris Chapel, TN is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What real estate strategy is ideal for Morris Chapel, TN?
Morris Chapel, TN investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($190K prices, $846/mo rents) make it a reasonable choice.
You know 38361 now. You don’t know where it ranks.
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