Real Estate Investing in Smithville, Mississippi (38870)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38870 (Smithville, 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: 24.4% 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 Smithville, MS (38870)?
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Market Analysis: 38870 Smithville
In practical terms, ZIP 38870 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $190K median. It rewards specialists, not generalists.
Put differently, the numbers look inviting — $190K purchase price, 0.0% nominal cap — the work to hit that pro forma in 38870 is substantial and deserves full respect.
Within MS, ZIP 38870 trails on several market indicators that neighboring Monroe County submarkets outperform. The gap is real and impressive enough to shape underwriting.
Meanwhile, 2,471 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Experienced landlords with local relationships tend to find 38870 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 Smithville:
Market Trends
Home Value History (with trend line)
📊 How Does 38870 Compare?
| Metric | 38870 | Smithville | Tupelo, MS | Mississippi |
|---|---|---|---|---|
| Home Value | $190,039 | $190,039 | N/A | $186,446 |
| 5-Year CAGR | 3.5% | 3.5% | N/A | 4.0% |
| Avg Rent | $891 | $891 | N/A | - |
| Cap Rate | 3.7% | 3.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38870 (Smithville, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $190,039 |
| Monthly Rent | $891 |
| Price-to-Rent | 17.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.7% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +6.9% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +3.5% ▲ |
| 10-Year CAGR | +3.9% ▲ |
🏠 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 (3.7%). 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 38870
Population: 2,471
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 38870
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
Investor Insight: With 784 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Smithville, MS a smart market for rental property?
The 3.0/5 investability rating in Smithville, MS reflects its $190K prices and $891/mo rents. Investors generally consider it a solid option within MS.
What approach is best for Smithville, MS real estate?
The best-fit strategy in Smithville, MS is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Should investors worry about vacancy in Smithville, MS?
Smithville, MS sees elevated vacancy, which is reasonable relative to the broader MS rental market.
Are tenants stable in Smithville, MS?
Smithville, MS draws a steady base of working renters. Demand at the $891/mo rent level is reasonable for standard single-family and small multi rentals.
What is the typical home price in Smithville, MS?
In Smithville, MS the median home value sits at $190K. Against the broader MS market, that reads as reasonable for most investors.
You know 38870 now. You don’t know where it ranks.
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How 38870 ranks in Tupelo, MS
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