Real Estate Investing in Leland, Mississippi (38756)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38756 (Leland, MS)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 13.3% of homes vacant — above national norms.
- Declining values: -11.3% 5-year CAGR — values have moved lower.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Leland, MS (38756)?
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Market Analysis: 38756 Leland
Homes in the 38756 ZIP trade near $67K, a discount that has historically rewarded investors willing to renovate. Rent comps near $756/mo support the pro forma.
In 38756, the deal is made on the buy and on the capex. robust entry prices of $67K leave room in the budget for light-to-medium renovation, with rent lift to match.
Statewide, MS value-add investors migrate toward ZIPs with 38756's profile — older stock, soft but real rent growth, and $67K pricing that keeps rehab math workable.
The 38756 ZIP's demographic trend has been one of stability with upside — population of 6,568, steady renter share, and an incoming cohort that is willing to pay for improved units.
The impressive opportunity in 38756 is buying the worst house on the block, fixing it, and renting it at the top of the local band. That is the strategy, repeated.
Here's what matters if you're considering buying a home in Leland:
Market Trends
Home Value History (with trend line)
📊 How Does 38756 Compare?
| Metric | 38756 | Leland | Greenville, MS | Mississippi |
|---|---|---|---|---|
| Home Value | $66,682 | $66,682 | N/A | $186,446 |
| 5-Year CAGR | N/A | N/A | N/A | 4.0% |
| Avg Rent | $756 | $756 | N/A | - |
| Cap Rate | 8.8% | 8.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38756 (Leland, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $66,682 |
| Monthly Rent | $756 |
| Price-to-Rent | 7.4:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 13.6% |
| Cap Rate | 8.8% |
| 5-Year IRR | N/A |
📈 Home Appreciation
| 1-Year | -1.7% ▼ |
| 3-Year CAGR | -9.4% ▼ |
| 5-Year CAGR | -11.3% ▼ |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (8.8%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 38756
Population: 6,568
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 38756
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
Can you recycle capital via BRRRR in Leland, MS?
Leland, MS is a strong for BRRRR. Acquiring below market, rehabbing, and leasing at $756/mo produces solid refinance appraisals against $67K values.
How close is Leland, MS to meeting the 1% rule?
With $756/mo rents against $67K home prices, Leland, MS produces a 1.13% ratio. That is reasonable proximity to the 1% threshold.
What is the median home value in Leland, MS?
Median home price in Leland, MS is near $67K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
What is the investability score for Leland, MS?
Leland, MS scores 4.0/5 for investability. Home values sit at $67K and rents near $756/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Does house hacking work in Leland, MS?
House hacking in Leland, MS is an attractive. With home values around $67K and rents at $756/mo, owner-occupants can offset a meaningful share of PITI.
You know 38756 now. You don’t know where it ranks.
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