Real Estate Investing in Walls, Mississippi (38641)
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Should you buy in 38641 (Walls, MS)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.2% of homes vacant — above national norms.
- Elevated poverty: 21.7% poverty rate — can affect rent collection.
- High price-to-rent: Price-to-rent ratio 26.6 — 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 Walls, MS (38641)?
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Market Analysis: 38641 Walls
The 38641 ZIP in Walls, MS is a local-operator market. Outside capital chasing a $330K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $330K asset, 38641 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 38641 and stronger Walls ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 38641 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 38641 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Walls:
Property Strategy for 38641
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $292,610 | $1,490 | 3.7% | +4.9% | $97,537 |
| 4BR | $388,066 | $1,720 | 3.2% | — | $97,016 |
Market Trends
Home Value History (with trend line)
📊 How Does 38641 Compare?
| Metric | 38641 | Walls | Memphis, TN-MS-AR | Mississippi |
|---|---|---|---|---|
| Home Value | $329,854 | $296,150 | N/A | $186,446 |
| 5-Year CAGR | 4.4% | 4.4% | N/A | 4.0% |
| Avg Rent | $1,035 | $1,314 | N/A | - |
| Cap Rate | 2.5% | 3.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38641 (Walls, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $329,854 |
| Monthly Rent | $1,035 |
| Price-to-Rent | 26.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 6.9% |
📈 Home Appreciation
| 1-Year | +4.7% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +4.4% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 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 (2.5%). 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 38641
Population: 2,102
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 38641
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
Is MS a landlord-friendly state?
MS law landlord-friendly for landlords, and Walls inherits those rules. Investors should still review local ordinances for rental licensing.
What is the average monthly rent in Walls, MS?
Investors in Walls, MS typically see rents near $1,035/mo per month against $330K home values - a solid setup for rental cash flow.
Is the tenant base reliable in Walls, MS?
Walls, MS offers a measured renter base at the $1,035/mo rent level. Tenant turnover is reasonable for well-managed properties.
How should investors approach Walls, MS?
A careful cash-flow rentals with hands-on management strategy Walls, MS best. The market produces consistent results for that approach at the $330K price point.
How do home values compare in Walls, MS?
The median home value in Walls, MS is roughly $330K. That puts it reasonable relative to the MS statewide average.
You know 38641 now. You don’t know where it ranks.
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How 38641 ranks in Memphis, TN-MS-AR
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