Real Estate Investing in Elmwood, Tennessee (38560)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38560 (Elmwood, 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.
- High vacancy: 25.0% of homes vacant — above national norms.
- Elevated poverty: 22.2% poverty rate — can affect rent collection.
- High price-to-rent: Price-to-rent ratio 27.6 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Elmwood, TN (38560)?
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Market Analysis: 38560 Elmwood
The 38560 ZIP covers a section of Elmwood that demands careful diligence. Prices near $295K look accessible, but the work to make a deal cash flow is real.
On balance, the numbers look inviting — $295K purchase price, 0.0% nominal cap — the work to hit that pro forma in 38560 is substantial and deserves full respect.
From an investor standpoint, 38560 offers a low basis, the region around Elmwood has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Meanwhile, 1,639 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.
Distressed ZIPs reward experience. significant returns are possible in 38560, 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 Elmwood:
Market Trends
Home Value History (with trend line)
📊 How Does 38560 Compare?
| Metric | 38560 | Elmwood | Nashville-Davidson--Murfreesboro--Franklin, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $295,245 | $295,245 | N/A | $327,001 |
| 5-Year CAGR | 5.3% | 5.3% | N/A | 7.7% |
| Avg Rent | $891 | $891 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38560 (Elmwood, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $295,245 |
| Monthly Rent | $891 |
| Price-to-Rent | 27.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.4% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +8.0% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +9.2% ▲ |
🏠 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 (2.4%). 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 38560
Population: 1,639
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 38560
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
Is real estate in Elmwood, TN a good investment right now?
Elmwood, TN scores 3.0/5 for investability. Home values sit at $295K and rents near $891/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Do landlords face vacancy issues in Elmwood, TN?
Expect elevated vacancy in Elmwood, TN. Rents at $891/mo are absorbed by the tenant base without meaningful lag.
What is the median home value in Elmwood, TN?
Typical homes in Elmwood, TN go for around $295K. The 5-year CAGR of 0.0% reliable price movement.
Are landlord laws favorable in Elmwood, TN?
Elmwood, TN operates under TN law, which is landlord-friendly overall for landlords. Expect consistent treatment in typical lease and eviction cases.
What approach is best for Elmwood, TN real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Elmwood, TN. The numbers - $295K homes against $891/mo rents - support that play.
You know 38560 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38560 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 38560 ranks in Nashville-Davidson--Murfreesboro--Franklin, TN
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