Real Estate Investing in Walnut, Mississippi (38683)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38683 (Walnut, 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: 23.4% of homes vacant — above national norms.
- Lower household income: $36,799 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Walnut, MS (38683)?
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Market Analysis: 38683 Walnut
This part of Alcorn County is not an easy win. The 38683 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
For an experienced owner, 38683 can be a a credible choice for hunting ground — but the discount at $155K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 38683 among MS's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 38683 ZIP's population of 3,488 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that sits at the need for careful underwriting.
The right play in 38683 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Walnut:
Market Trends
Home Value History (with trend line)
📊 How Does 38683 Compare?
| Metric | 38683 | Walnut | Corinth, MS | Mississippi |
|---|---|---|---|---|
| Home Value | $154,891 | $154,891 | N/A | $186,446 |
| 5-Year CAGR | 3.4% | 3.4% | N/A | 4.0% |
| Avg Rent | $756 | $756 | N/A | - |
| Cap Rate | 3.8% | 3.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38683 (Walnut, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $154,891 |
| Monthly Rent | $756 |
| Price-to-Rent | 17.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.8% |
| 5-Year IRR | 7.2% |
📈 Home Appreciation
| 1-Year | +9.7% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +3.4% ▲ |
| 10-Year CAGR | +4.2% ▲ |
🏠 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 (3.8%). 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 38683
Population: 3,488
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 38683
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 should investors approach Walnut, MS?
Most investors in Walnut, MS run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Do landlords face vacancy issues in Walnut, MS?
Rental vacancy in Walnut, MS is elevated. Investors should budget normal turnover but not chronic empty units.
Are renters plentiful in Walnut, MS?
Walnut, MS draws a even-keeled base of working renters. Demand at the $756/mo rent level is reasonable for standard single-family and small multi rentals.
What is the typical home price in Walnut, MS?
In Walnut, MS the median home value sits at $155K. Against the broader MS market, that reads as reasonable for most investors.
What do rentals go for in Walnut, MS?
Rental rates in Walnut, MS average $756/mo. Tenant demand and $155K home values make the yield look reasonable by investor standards.
You know 38683 now. You don’t know where it ranks.
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