Real Estate Investing in Cookeville, Tennessee (38501)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38501 (Cookeville, TN)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.6% vacancy may signal weakening demand.
What’s happening in Cookeville, TN (38501)?
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Market Analysis: 38501 Cookeville
Investors eyeing 38501 need to respect the fundamentals at play. Home values of $304K come alongside slower price movement and elevated management overhead.
The investment case in 38501 is sturdy only for operators who understand what they are buying. A $304K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 38501 among TN's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 38501 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Distressed ZIPs reward experience. substantial returns are possible in 38501, 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 Cookeville:
Property Strategy for 38501
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $135,492 | $840 | 4.5% | — | $135,492 |
| 2BR | $230,454 | $1,040 | 3.2% | +8.4% | $115,227 |
| 3BR | $308,461 | $1,440 | 3.4% | +10.4% | $102,820 |
| 4BR | $413,652 | $1,590 | 2.8% | +9.6% | $103,413 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 38501 Compare?
| Metric | 38501 | Cookeville | Cookeville, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $303,762 | $161,702 | N/A | $327,001 |
| 5-Year CAGR | 5.9% | 5.7% | N/A | 7.7% |
| Avg Rent | $1,442 | $1,588 | N/A | - |
| Cap Rate | 3.7% | 3.8% | - | - |
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 38501 (Cookeville, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $303,762 |
| Monthly Rent | $1,442 |
| Price-to-Rent | 17.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +3.8% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 Rent Trends
| 1-Year | +5.7% ▲ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.7%). 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 38501
Population: 42,422
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 38501
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 657 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How does Cookeville, TN rate as a rental market?
Investors tracking Cookeville, TN will find a 3.0/5 rating supported by $304K median home values and $1,442/mo rents. That profile suits long-term holders targeting measured returns.
What are vacancy rates like in Cookeville, TN?
Cookeville, TN carries elevated vacancy risk. Expect stable absorption at market rents of $1,442/mo.
Is the tenant base reliable in Cookeville, TN?
Cookeville, TN offers a predictable renter base at the $1,442/mo rent level. Tenant turnover is reasonable for well-managed properties.
Which real estate strategy fits Cookeville, TN?
For Cookeville, TN, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How strong are rents in Cookeville, TN?
Rent in Cookeville, TN is around $1,442/mo. The resulting rent-to-value relationship with $304K pricing is reasonable for most investor models.
You know 38501 now. You don’t know where it ranks.
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How 38501 ranks in Cookeville, TN
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