Haywood (TN) Investor Pulse Report (2025-Q4)

Landlords in Haywood County, TN control a substantial 32.0% of the total 5,284 SFR properties, with their portfolio comprising 1,690 units.

Individual landlords are the dominant force, owning 1,439 SFR properties, which accounts for 85.1% of all investor-held units, significantly overshadowing the 285 properties (16.9%) held by companies.

The vast majority of landlord-owned properties, 1,662 out of 1,690 (98.3%), are rented, highlighting a strong market focus on non-owner-occupied rental income rather than personal use.

A striking 86.4% of investor-owned properties (1,460 units) were purchased with cash, suggesting a strong preference for avoiding financing costs and risks, with only 13.6% (230 units) being financed.

Despite owning fewer properties overall, company landlords (149 entities) average 1.91 properties per entity, nearly double the 0.92 properties per entity for individual landlords (1,566 entities), indicating more concentrated holdings for companies.

There are 1,566 individual landlords compared to just 149 company landlords, a ratio of over 10 to 1, reinforcing the market's reliance on small-scale, individual investors.

In a notable shift, landlords paid a 6.3% premium for SFR properties in Q4 2025, averaging $261,879 compared to traditional homeowners' $246,357, a $15,522 difference.

This Q4 premium represents a dramatic reversal from earlier in 2025, where landlords consistently acquired properties at substantial discounts, ranging from 41.9% ($91,643) in Q3 to a staggering 79.4% ($167,756) in Q2.

The quarter-over-quarter trend clearly shows a narrowing and eventual inversion of the price gap, moving from a large landlord discount in Q1 ($111,730) to a premium in Q4.

Landlord average acquisition prices across 2025 averaged $125,978, reflecting a 5.6% increase from the $119,260 average seen during the 2020-2023 pandemic-era boom.

The significantly higher average acquisition price for landlords in 2024 ($282,313) compared to 2025 ($125,978) suggests varied market dynamics or shifts in property types acquired between the years.

The consistent deep discounts for landlords in Q1, Q2, and Q3 of 2025 (e.g., Q2's $43,554 vs $211,310 homeowner price) reveal a strong ability to find undervalued properties or distressed assets during those earlier periods.

Landlords were highly active in Q4 2025, completing 20 SFR purchases, which represents 46.5% of the total 43 transactions in the market, indicating significant investor interest.

The market saw 11 new single-property landlords (Tier 01) enter in Q4, acquiring 9 properties and making this tier the most active, representing 42.9% of all landlord purchases based on properties in their tiers.

Mom-and-pop investors (Tiers 01-04) collectively drove Q4 activity, acquiring 13 properties which accounts for a substantial 61.9% of all landlord purchases during the quarter based on properties in their tiers.

In contrast to smaller investors, institutional investors (Tier 09, 1000+ properties) made only 2 purchases, comprising 9.5% of landlord acquisitions, signaling a more limited direct buying presence in Haywood County this quarter.

The small-medium landlord tier (21-50 properties) showed notable activity, with one entity acquiring 5 properties, making up 23.8% of landlord purchases and suggesting targeted expansion by mid-sized investors.

Overall, the Q4 purchase data highlights the continued importance of smaller, individual investors in Haywood County, with mom-and-pops significantly outpacing larger institutional players in acquisition volume.

Haywood County's investor-owned SFR market is heavily concentrated among smaller landlords, with mom-and-pop investors (Tiers 01-04) controlling 86.7% of the total 1,690 properties.

Single-property landlords (Tier 01) form the backbone of the market, owning 1,159 properties, which accounts for a significant 65.1% of all investor-held SFR units.

Despite considerable media attention, institutional investors (Tier 09, 1000+ properties) hold only 3 properties, representing a minimal 0.2% share of the total investor-owned portfolio.

Mid-sized landlords, specifically those in the 11-50 property range (Tiers 05-06), collectively own 230 properties, accounting for 13.0% of the market, indicating a moderate presence beyond the smallest investors.

The progression from single-property to institutional ownership shows a steep decline in property counts, with only Tiers 01-06 having substantial holdings, highlighting the fragmented nature of investor ownership in this county.

Tiers 07 (51-100), 08 (101-1000), and 09 (1000+) combined own only 6 properties, demonstrating a very limited presence of larger-scale and institutional investors in the overall SFR market.

Individual investors maintain a strong hold on smaller portfolios, representing a dominant 92.2% of single-property (Tier 01) owners and 88.9% of two-property (Tier 02) owners.

The market reaches a significant crossover point in the small-medium (11-20 properties) tier, where companies become the majority, owning 60 properties (61.9%) compared to individuals' 37 properties (38.1%).

As portfolio size increases, the proportion of company ownership steadily grows; for instance, in the 6-10 property tier, companies account for 21 properties (23.9%), a notable increase from the single-digit percentages in smaller tiers.

Even in the relatively larger small-medium tier (21-50 properties), individual investors still own a slight majority, holding 67 properties (50.4%) against companies' 66 properties (49.6%), indicating persistent individual investor activity in mid-sized portfolios.

The highest concentration of individual ownership is unequivocally in the single-property tier (92.2%), while the highest company concentration among the provided data is in the 11-20 property tier (61.9%).

This distribution reveals a clear progression where individual investors lead in market entry and small-scale operations, while companies become more prevalent and eventually dominant in larger, more complex portfolios.

Investor-owned SFR properties in Haywood County are highly concentrated, with the top 5 zip codes by count representing 1,667 properties, or 98.6% of the total 1,690 investor-owned units.

Zip code TN-Haywood-38012 stands out as the primary hub for investor activity, holding a massive 1,326 properties, which is 78.5% of all landlord-owned SFR in the county, alongside a significant 31.4% investor ownership rate.

While TN-Haywood-38012 leads in sheer property count, TN-Haywood-38069 boasts the highest investor ownership rate at 41.7%, indicating a greater market penetration despite having a smaller portfolio of 216 investor-owned properties.

The strong correlation between regions with high investor property counts and high ownership percentages suggests that investor activity isn't just widespread but deeply embedded in specific local markets within Haywood County.

The remaining zip codes collectively hold only 23 properties, highlighting an extreme concentration of investor interest and holdings within just a few key areas of the county.

All top 5 zip codes by count are also among the top 5 by percentage, with TN-Haywood-38075 (24.8%) being replaced by TN-Haywood-38063 (26.9%) when ranked purely by investor ownership rate.

Landlords in Haywood County demonstrated strong and consistent accumulation throughout 2024 and 2025, operating as net buyers with a cumulative 4.15 buy/sell ratio in 2025 (108 purchases vs 26 sales).

The second quarter of 2025 (Q2) marked the highest buying intensity for all landlords, with 55 purchases against only 7 sales, resulting in a remarkable 7.86 buy/sell ratio and a net gain of 48 properties.

Institutional investors (Tier 09, 1000+ properties) were net buyers in 2025, acquiring 3 properties and selling 2, resulting in a modest net gain of 1 property, indicating limited but positive accumulation.

In contrast, institutional investors were net neutral in 2024, with 2 buys and 2 sells, suggesting a pause or divestment phase for larger players before 2025's slight buying trend.

The quarterly buy/sell ratios for all landlords fluctuated, peaking in Q2 at 7.86, then settling to 2.57 in Q3 and 3.29 in Q4, but consistently remaining above 1.0, signifying sustained growth in landlord portfolios.

Overall landlord transaction volume in 2024 (148 buys, 42 sells) was higher than in 2025 (108 buys, 26 sells), suggesting a slight slowdown in overall market activity or a more selective buying approach in the current year.

Landlords were key players in the Q4 market, responsible for 23 transactions, representing a substantial 42.6% of the total 54 SFR transactions in Haywood County.

Single-property landlords (Tier 01) dominated transaction volume, completing 11 purchases, significantly more than any other tier, and accounting for nearly half of all landlord transactions.

There is a dramatic price disparity across tiers; two-property landlords (Tier 02) paid the highest average price at $845,667, which is over twelve times more than single-property landlords (Tier 01) who paid $69,665.

Institutional investors (Tier 09) acquired properties at an average of $105,250, demonstrating that they are willing to pay 51.1% more than entry-level single-property landlords for their acquisitions.

Inter-landlord trading was minimal across most tiers, but the large landlord (101-1000 properties) tier engaged in 100.0% inter-landlord trade for its single Q4 transaction, indicating strategic asset transfer.

Tiers 01 (single-property) and 02 (two-property) account for the majority of mom-and-pop transaction activity in Q4, contrasting with the much lower activity levels from larger and institutional tiers.

The high price paid by two-property landlords ($845,667) suggests that these few acquisitions might involve premium properties or unique market opportunities, standing out sharply from other tier pricing.