Real Estate Investing in Toone, Tennessee (38381)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38381 (Toone, TN)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 18.4% of homes vacant — above national norms.
- Elevated poverty: 22.9% 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 Toone, TN (38381)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 38381 Toone
Not every below-median market is a bargain. Toone's 38381 ZIP clocks in at signals that favor experienced operators who can absorb the risk $199K pricing implies.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 38381 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 38381's metrics run below Hardeman County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Put differently, 1,525 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.
The 38381 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Toone:
Market Trends
Home Value History (with trend line)
📊 How Does 38381 Compare?
| Metric | 38381 | Toone | Tennessee |
|---|---|---|---|
| Home Value | $198,645 | $198,645 | $327,001 |
| 5-Year CAGR | N/A | N/A | 7.7% |
| Avg Rent | $837 | $837 | - |
| 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 38381 (Toone, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $198,645 |
| Monthly Rent | $837 |
| Price-to-Rent | 19.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 12.3% |
📈 Home Appreciation
| 1-Year | +15.6% ▲ |
| 3-Year CAGR | +9.0% ▲ |
| 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 (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 38381
Population: 1,525
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 38381
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
What are home prices like in Toone, TN?
The median home value in Toone, TN is roughly $199K. That puts it reasonable relative to the TN statewide average.
How much is rent in Toone, TN?
Rents in Toone, TN run near $837/mo. Compared with median home prices of $199K that produces solid gross yields for typical rentals.
What approach is best for Toone, TN real estate?
The best-fit strategy in Toone, TN is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Is Toone, TN good for landlords?
Toone, TN falls under TN landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
What is the typical vacancy rate in Toone, TN?
Occupancy in Toone, TN runs stable with elevated vacancy. Well-priced units at $837/mo lease on reasonable timelines.
You know 38381 now. You don’t know where it ranks.
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