Real Estate Investing in Itta Bena, Mississippi (38941)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38941 (Itta Bena, 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: 30.4% of homes vacant — above national norms.
- 1-year downturn: Values declined 3.5% in the last year.
- Elevated poverty: 33.2% poverty rate — can affect rent collection.
- Higher unemployment: 9.9% unemployment — tenant risk signal.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Itta Bena, MS (38941)?
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Market Analysis: 38941 Itta Bena
The 38941 ZIP in Itta Bena is not a pristine, turnkey story — it is a value-add map. Stock is older, prices near $54K are approachable, and upside sits in the rehab line.
Investors in 38941 do not buy the market average — they buy the unit they can improve. $54K median pricing and $765/mo comps define the envelope within which the work has to pay.
Comparing Itta Bena submarkets, ZIP 38941 offers an entry cost that most surrounding neighborhoods have moved past. The solid delta is the opportunity.
The a solid fit for angle on demographics here is renter willingness to pay a premium for renovated product. The 58% rental share provides scale for the strategy.
Value-add plays pencil in 38941 when three things line up: a sub-median purchase, a realistic rehab budget, and a post-rehab rent comp that stands up. All three are present in this ZIP.
Here's what matters if you're considering buying a home in Itta Bena:
Property Strategy for 38941
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $38,182 | $850 | 16.0% | — | $19,091 |
| 3BR | $54,568 | $1,070 | 14.1% | — | $18,189 |
Market Trends
Home Value History (with trend line)
📊 How Does 38941 Compare?
| Metric | 38941 | Itta Bena | Greenwood, MS | Mississippi |
|---|---|---|---|---|
| Home Value | $53,709 | $53,709 | N/A | $186,446 |
| 5-Year CAGR | N/A | N/A | N/A | 4.0% |
| Avg Rent | $765 | $765 | N/A | - |
| Cap Rate | 11.1% | 11.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38941 (Itta Bena, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $53,709 |
| Monthly Rent | $765 |
| Price-to-Rent | 5.9:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 17.1% |
| Cap Rate | 11.1% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | -3.5% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
| 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 (11.1%) 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 38941
Population: 3,478
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 38941
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 574 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Where do home prices stand in Itta Bena, MS?
The median home value in Itta Bena, MS is roughly $54K. That puts it reasonable relative to the MS statewide average.
Is Itta Bena, MS good for BRRRR investors?
Itta Bena, MS BRRRR deals are a strong. With proper buy-side discipline, operators can recycle most of their capital post-refinance.
How does Itta Bena, MS rate as a rental market?
The 4.0/5 investability rating in Itta Bena, MS reflects its $54K prices and $765/mo rents. Investors generally consider it a solid option within MS.
What monthly rent should investors expect in Itta Bena, MS?
The typical rental in Itta Bena, MS commands about $765/mo monthly. That rent profile predictable cash flow against the $54K purchase basis.
Does the 1% rule work in Itta Bena, MS?
The median property in Itta Bena, MS ($54K at $765/mo rent) a 1.42% rent-to-price figure. Pure 1% deals require disciplined offer pricing.
You know 38941 now. You don’t know where it ranks.
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How 38941 ranks in Greenwood, MS
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