Real Estate Investing in Cookeville, Tennessee (38506)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38506 (Cookeville, TN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Cookeville, TN (38506)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 38506 Cookeville
The 38506 ZIP covers a section of Cookeville that demands careful diligence. Prices near $343K look accessible, but the work to make a deal cash flow is real.
The 38506 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
The gap between 38506 and stronger Cookeville ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Demographically, 38506 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. impressive returns are possible in 38506, 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 38506
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $236,866 | $1,150 | 3.5% | +8.8% | $118,433 |
| 3BR | $334,112 | $1,570 | 3.4% | +9.8% | $111,371 |
| 4BR | $481,831 | $1,730 | 2.6% | +9.6% | $120,458 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 38506 Compare?
| Metric | 38506 | Cookeville | Cookeville, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $343,044 | $161,702 | N/A | $327,001 |
| 5-Year CAGR | 5.5% | 5.7% | N/A | 7.7% |
| Avg Rent | $1,734 | $1,588 | N/A | - |
| Cap Rate | 3.9% | 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 38506 (Cookeville, TN). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 38506 (Cookeville, TN)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $343,044 |
| Monthly Rent | $1,734 |
| Price-to-Rent | 16.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.1% |
| Cap Rate | 3.9% |
| 5-Year IRR | 9.4% |
📈 Home Appreciation
| 1-Year | +3.4% ▲ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | -5.4% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.9%). 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 38506
Population: 29,657
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 38506
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
What are home prices like in Cookeville, TN?
The median home value in Cookeville, TN is roughly $343K. That puts it reasonable relative to the TN statewide average.
Is Cookeville, TN a good place for real estate investing?
Yes - Cookeville, TN a 3.0/5 investability score. With $343K home prices against $1,734/mo monthly rent, the market delivers a reasonable entry point for new investors.
What is the typical renter like in Cookeville, TN?
Tenant quality in Cookeville, TN ranks as solid. Landlords generally report consistent occupancy at market rents of $1,734/mo.
Can I live-in-and-rent in Cookeville, TN?
The house hack math a challenging in Cookeville, TN. Owner-occupant buyers benefit from the $1,734/mo rents and $343K home values.
How landlord-friendly is Cookeville, TN?
Landlord-friendliness in Cookeville, TN is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 38506 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38506 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 38506 ranks in Cookeville, TN
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 38506 (Cookeville)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 38506 (Cookeville, TN).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.