Real Estate Investing in Red Banks, Mississippi (38661)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38661 (Red Banks, MS)? 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: 12.2% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Red Banks, MS (38661)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 38661 Red Banks
The 38661 ZIP in Red Banks, MS is a local-operator market. Outside capital chasing a $239K entry has to pair deep knowledge with the discount.
Stepping back, the numbers look inviting — $239K purchase price, 0.0% nominal cap — the work to hit that pro forma in 38661 is substantial and deserves full respect.
Nearby ZIPs in Red Banks have seen price recovery that 38661 has not matched. Marshall County data supports the view that the spread is structural rather than temporary.
The 38661 ZIP's population of 1,808 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
Strategy in 38661 is an operator game, not a passive one. Put differently, entry prices of $239K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Red Banks:
Market Trends
Home Value History (with trend line)
📊 How Does 38661 Compare?
| Metric | 38661 | Red Banks | Memphis, TN-MS-AR | Mississippi |
|---|---|---|---|---|
| Home Value | $238,921 | $238,921 | N/A | $186,446 |
| 5-Year CAGR | 5.3% | 5.3% | N/A | 4.0% |
| Avg Rent | $1,062 | $1,062 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
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 38661 (Red Banks, MS). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 38661 (Red Banks, MS)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $238,921 |
| Monthly Rent | $1,062 |
| Price-to-Rent | 18.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.5% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +7.8% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 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 (3.5%). 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 38661
Population: 1,808
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Does Red Banks, MS make sense for an investment property?
With a 3.0/5 investability score, Red Banks, MS ranks as a solid market for rental property investors. Median prices of $239K and rents of $1,062/mo drive the underlying numbers.
How much do tenants pay in Red Banks, MS?
Rent in Red Banks, MS is around $1,062/mo. The resulting rent-to-value relationship with $239K pricing is reasonable for most investor models.
Should investors worry about vacancy in Red Banks, MS?
Vacancy in Red Banks, MS is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,062/mo.
What is the typical renter like in Red Banks, MS?
Tenant quality in Red Banks, MS ranks as solid. Landlords generally report consistent occupancy at market rents of $1,062/mo.
How do experienced investors play Red Banks, MS?
The best-fit strategy in Red Banks, MS is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 38661 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38661 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 38661 ranks in Memphis, TN-MS-AR
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 38661 (Red Banks)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 38661 (Red Banks, MS).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.