Real Estate Investing in Waterford, Mississippi (38685)
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Should you buy in 38685 (Waterford, MS)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
No major risk flags on the data we track.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Waterford, MS (38685)?
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Market Analysis: 38685 Waterford
The 38685 ZIP in Waterford, MS is a local-operator market. Outside capital chasing a $191K entry has to pair deep knowledge with the discount.
The 38685 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Put differently, 38685 offers a low basis, the region around Waterford has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A solid renter share of 11% in 38685 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 38685 is an operator game, not a passive one. Stepping back, entry prices of $191K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Waterford:
Market Trends
Home Value History (with trend line)
📊 How Does 38685 Compare?
| Metric | 38685 | Waterford | Memphis, TN-MS-AR | Mississippi |
|---|---|---|---|---|
| Home Value | $190,862 | $190,862 | N/A | $186,446 |
| 5-Year CAGR | 2.6% | 2.6% | N/A | 4.0% |
| Avg Rent | $1,053 | $1,053 | N/A | - |
| Cap Rate | 4.3% | 4.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38685 (Waterford, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $190,862 |
| Monthly Rent | $1,053 |
| Price-to-Rent | 15.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 6.9% |
📈 Home Appreciation
| 1-Year | +5.9% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +2.6% ▲ |
| 10-Year CAGR | N/A |
🏠 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 (4.3%). 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 38685
Population: 983
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
How does Waterford, MS rate as a rental market?
Waterford, MS rates 3.0/5 for investability. With median values at $191K and rents near $1,053/mo, the market offers reasonable fundamentals for rental investors.
What is the median home value in Waterford, MS?
Typical homes in Waterford, MS go for around $191K. The 5-year CAGR of 0.0% even-keeled price movement.
What type of investing works in Waterford, MS?
Investors usually favor careful cash-flow rentals with hands-on management in Waterford, MS. With home values at $191K and rents near $1,053/mo, other strategies can work but produce stable rather than outsized returns.
Is Waterford, MS suited for a house hack?
For house hackers, Waterford, MS is a challenging. The $1,053/mo rent on a unit helps defray the mortgage on a $191K property.
How strong are rents in Waterford, MS?
The typical rental in Waterford, MS commands about $1,053/mo monthly. That rent profile measured cash flow against the $191K purchase basis.
You know 38685 now. You don’t know where it ranks.
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How 38685 ranks in Memphis, TN-MS-AR
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