Real Estate Investing in Carthage, Mississippi (39051)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 39051 (Carthage, MS)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 18.5% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (0.6% CAGR).
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Carthage, MS (39051)?
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Market Analysis: 39051 Carthage
ZIP 39051 inside Leake County looks affordable on the surface — median value of $156K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 39051 is impressive only for operators who understand what they are buying. A $156K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
In the broader MS picture, 39051 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Resident income in 39051 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 39051 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 Carthage:
Market Trends
Home Value History (with trend line)
📊 How Does 39051 Compare?
| Metric | 39051 | Carthage | Mississippi |
|---|---|---|---|
| Home Value | $156,376 | $156,376 | $186,446 |
| 5-Year CAGR | 0.6% | 0.6% | 4.0% |
| Avg Rent | $855 | $855 | - |
| Cap Rate | 4.3% | 4.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 39051 (Carthage, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $156,376 |
| Monthly Rent | $855 |
| Price-to-Rent | 15.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 4.8% |
📈 Home Appreciation
| 1-Year | -1.1% ▼ |
| 3-Year CAGR | +0.8% ▲ |
| 5-Year CAGR | +0.6% ▲ |
| 10-Year CAGR | +2.3% ▲ |
🏠 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 (4.3%). 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 39051
Population: 15,242
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 39051
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.
Frequently Asked Questions
Which investment style suits Carthage, MS?
Investors usually favor careful cash-flow rentals with hands-on management in Carthage, MS. With home values at $156K and rents near $855/mo, other strategies can work but produce stable rather than outsized returns.
What kind of tenants rent in Carthage, MS?
Tenant quality in Carthage, MS ranks as solid. Landlords generally report stable occupancy at market rents of $855/mo.
Do landlords face vacancy issues in Carthage, MS?
Rental vacancy in Carthage, MS is elevated. Investors should budget normal turnover but not chronic empty units.
Is Carthage, MS a good market for FHA house hackers?
Carthage, MS offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $855/mo rent level.
How much should I expect to pay for a home in Carthage, MS?
Typical homes in Carthage, MS go for around $156K. The 5-year CAGR of 0.0% measured price movement.
You know 39051 now. You don’t know where it ranks.
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