Real Estate Investing in Pittsboro, Mississippi (38951)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38951 (Pittsboro, 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.
- High vacancy: 26.3% of homes vacant — above national norms.
- Lower household income: $37,312 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Pittsboro, MS (38951)?
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Market Analysis: 38951 Pittsboro
Not every below-median market is a bargain. Pittsboro's 38951 ZIP shows signals that favor experienced operators who can absorb the risk $143K pricing implies.
From a cash-flow lens, the numbers look inviting — $143K purchase price, 0.0% nominal cap — the work to hit that pro forma in 38951 is substantial and deserves full respect.
Nearby ZIPs in Pittsboro have seen price recovery that 38951 has not matched. Calhoun County data supports the view that the spread is structural rather than temporary.
Turning to rents, 1,069 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.
The 38951 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Pittsboro:
Market Trends
Home Value History (with trend line)
📊 How Does 38951 Compare?
| Metric | 38951 | Pittsboro | Mississippi |
|---|---|---|---|
| Home Value | $143,163 | $143,163 | $186,446 |
| 5-Year CAGR | 1.5% | 1.5% | 4.0% |
| Avg Rent | $1,053 | $1,053 | - |
| Cap Rate | 5.7% | 5.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38951 (Pittsboro, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $143,163 |
| Monthly Rent | $1,053 |
| Price-to-Rent | 11.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.8% |
| Cap Rate | 5.7% |
| 5-Year IRR | 7.2% |
📈 Home Appreciation
| 1-Year | +3.6% ▲ |
| 3-Year CAGR | -0.7% ▼ |
| 5-Year CAGR | +1.5% ▲ |
| 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 (5.7%). 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 38951
Population: 1,069
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
What is the typical rental rate in Pittsboro, MS?
Pittsboro, MS rentals go for roughly $1,053/mo a month. That puts gross yield in solid territory relative to $143K acquisition costs.
How strong is the working-renter base in Pittsboro, MS?
Working renters make up the core of the Pittsboro, MS tenant base. The pool is reasonable for investors targeting long-term holds.
What strategy should investors use in Pittsboro, MS?
Pittsboro, MS investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($143K prices, $1,053/mo rents) make it a reasonable choice.
How high is vacancy risk in Pittsboro, MS?
Occupancy in Pittsboro, MS runs reliable with elevated vacancy. Well-priced units at $1,053/mo lease on reasonable timelines.
What is the average home sale price in Pittsboro, MS?
The median home value in Pittsboro, MS is roughly $143K. That puts it reasonable relative to the MS statewide average.
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