Real Estate Investing in Grenada, Mississippi (38943)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38943 (Grenada, MS)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 33.1% of homes vacant — above national norms.
- 1-year downturn: Values declined 7.5% in the last year.
- Higher unemployment: 9.0% unemployment — tenant risk signal.
• 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 Grenada, MS (38943)?
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Market Analysis: 38943 Grenada
This part of Carroll County is not an easy win. The 38943 ZIP comes in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
For an experienced owner, 38943 can be a a credible choice for hunting ground — but the discount at $194K reflects genuine risk that outside investors often underestimate.
Within MS, ZIP 38943 trails on several market indicators that neighboring Carroll County submarkets outperform. The gap is real and substantial enough to shape underwriting.
Demographically, 38943 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The right play in 38943 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 Grenada:
Market Trends
Home Value History (with trend line)
📊 How Does 38943 Compare?
| Metric | 38943 | Grenada | Greenwood, MS | Mississippi |
|---|---|---|---|---|
| Home Value | $194,234 | $162,886 | N/A | $186,446 |
| 5-Year CAGR | N/A | 2.5% | N/A | 4.0% |
| Avg Rent | $810 | $819 | N/A | - |
| Cap Rate | 3.3% | 4.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38943 (Grenada, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $194,234 |
| Monthly Rent | $810 |
| Price-to-Rent | 20.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.3% |
| 5-Year IRR | N/A |
📈 Home Appreciation
| 1-Year | -7.5% ▼ |
| 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 current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). 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 38943
Population: 681
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
Frequently Asked Questions
Is Grenada in MS worth investing in?
Investors tracking Grenada, MS will find a 2.0/5 rating supported by $194K median home values and $810/mo rents. That profile suits long-term holders targeting stable returns.
What approach is best for Grenada, MS real estate?
The best-fit strategy in Grenada, MS is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Is vacancy a concern in Grenada, MS?
Expect elevated vacancy in Grenada, MS. Rents at $810/mo are absorbed by the tenant base without meaningful lag.
What are home prices like in Grenada, MS?
Median home price in Grenada, MS is near $194K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
How much rent can I charge in Grenada, MS?
Grenada, MS rentals go for roughly $810/mo a month. That puts gross yield in solid territory relative to $194K acquisition costs.
You know 38943 now. You don’t know where it ranks.
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How 38943 ranks in Greenwood, MS
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