Real Estate Investing in Monterey, Tennessee (38574)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38574 (Monterey, 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: 13.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 29.6 — 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 Monterey, TN (38574)?
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Market Analysis: 38574 Monterey
ZIP 38574 in Monterey, TN carries a significant set of headwinds. Home values near $297K and rents of $837/mo sit inside a market where underwriting has to be tight.
The investment case in 38574 is impressive only for operators who understand what they are buying. A $297K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 38574's metrics run below Putnam County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
From a cash-flow lens, 8,812 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. sturdy returns are possible in 38574, 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 Monterey:
Property Strategy for 38574
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $228,411 | $930 | 2.9% | +11.9% | $114,206 |
| 3BR | $384,062 | $1,270 | 2.4% | +12.1% | $128,021 |
Market Trends
Home Value History (with trend line)
📊 How Does 38574 Compare?
| Metric | 38574 | Monterey | Cookeville, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $297,481 | $297,481 | N/A | $327,001 |
| 5-Year CAGR | 7.5% | 7.5% | N/A | 7.7% |
| Avg Rent | $837 | $837 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
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 38574 (Monterey, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $297,481 |
| Monthly Rent | $837 |
| Price-to-Rent | 29.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +10.9% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +7.5% ▲ |
| 10-Year CAGR | +8.7% ▲ |
🏠 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 (2.2%). 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 38574
Population: 8,812
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 38574
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
Frequently Asked Questions
How strong is tenant demand in Monterey, TN?
Monterey, TN draws a stable base of working renters. Demand at the $837/mo rent level is reasonable for standard single-family and small multi rentals.
Does Monterey, TN make sense for an investment property?
The 3.0/5 investability rating in Monterey, TN reflects its $297K prices and $837/mo rents. Investors generally consider it a solid option within TN.
What kind of vacancy should I budget for in Monterey, TN?
Occupancy in Monterey, TN runs even-keeled with elevated vacancy. Well-priced units at $837/mo lease on reasonable timelines.
Is Monterey, TN a friendly market for rental owners?
For rental operators, Monterey, TN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
How expensive is real estate in Monterey, TN?
Median home price in Monterey, TN is near $297K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
You know 38574 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38574 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 38574 ranks in Cookeville, TN
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