Real Estate Investing in Mount Pleasant, Tennessee (38474)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38474 (Mount Pleasant, TN)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.9% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Mount Pleasant, TN (38474)?
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Market Analysis: 38474 Mount Pleasant
The 38474 ZIP covers a section of Mount Pleasant that demands careful diligence. Prices near $282K look accessible, but the work to make a deal cash flow is real.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 38474 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within TN, ZIP 38474 trails on several market indicators that neighboring Maury County submarkets outperform. The gap is real and resilient enough to shape underwriting.
A robust renter share of 28% in 38474 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Distressed ZIPs reward experience. solid returns are possible in 38474, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Mount Pleasant:
Property Strategy for 38474
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $190,721 | $1,330 | 5.0% | +11.2% | $95,361 |
| 3BR | $313,399 | $1,690 | 3.9% | +9.6% | $104,466 |
| 4BR | $391,481 | $1,770 | 3.3% | +10.4% | $97,870 |
Market Trends
Home Value History (with trend line)
📊 How Does 38474 Compare?
| Metric | 38474 | Mount Pleasant | Nashville-Davidson--Murfreesboro--Franklin, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $282,277 | $282,277 | N/A | $327,001 |
| 5-Year CAGR | 5.1% | 5.1% | N/A | 7.7% |
| Avg Rent | $1,197 | $1,197 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
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 38474 (Mount Pleasant, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $282,277 |
| Monthly Rent | $1,197 |
| Price-to-Rent | 19.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +5.3% ▲ |
| 3-Year CAGR | +1.7% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +9.5% ▲ |
🏠 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 38474
Population: 9,336
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 38474
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
Investor Insight: With 1,396 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What type of investing works in Mount Pleasant, TN?
A careful cash-flow rentals with hands-on management strategy Mount Pleasant, TN best. The market produces stable results for that approach at the $282K price point.
How strong is the working-renter base in Mount Pleasant, TN?
Tenant demand in Mount Pleasant, TN is solid. The local workforce $1,197/mo rents across most rental classes.
What do landlords charge for rent in Mount Pleasant, TN?
Expect rents around $1,197/mo per month in Mount Pleasant, TN. With home values at $282K, the yield math works out to reasonable levels for rental investors.
Is TN a landlord-friendly state?
Landlord-friendliness in Mount Pleasant, TN is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Does Mount Pleasant, TN make sense for an investment property?
With a 3.0/5 investability score, Mount Pleasant, TN ranks as a solid market for rental property investors. Median prices of $282K and rents of $1,197/mo drive the underlying numbers.
You know 38474 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38474 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 38474 ranks in Nashville-Davidson--Murfreesboro--Franklin, TN
Every ZIP in this metro, ranked. Free.
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