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

Maury County's real estate investor market is primarily driven by individual landlords, who collectively own 4,054 SFR properties, representing 72.0% of the 5,634 investor-owned homes. Companies hold a smaller but notable share of 1,800 properties, accounting for 31.9% of the investor portfolio.

Landlords in Maury County maintain a significant presence in the overall housing market, controlling 5,634 SFR properties, which constitutes 16.4% of the total 34,260 SFR properties available in the area.

The ownership structure reveals a substantial prevalence of individual landlords (4,821 entities) compared to company landlords (784 entities), underscoring the 'mom-and-pop' nature of the local investor base.

A dominant characteristic of landlord holdings in Maury County is their rental focus, with 5,430 properties identified as rented. This indicates that nearly all investor-owned SFR properties (96.4% of 5,634) are held for income generation.

The preference for cash acquisitions is evident, with 5,098 properties owned outright via cash, far surpassing the 536 properties that are financed. This suggests a strong capital base or a strategic preference for debt-free holdings among Maury County investors.

Maury County landlords demonstrated a remarkable ability to acquire properties at a significant discount in Q4 2025, paying an average of $335,619. This was $128,921 less than traditional homeowners, who paid $464,540, representing an impressive 27.8% discount for investors.

The price gap between landlords and homeowners has fluctuated dramatically quarter-over-quarter. While Q4 saw a deep discount, Q3 2025 presented a contrasting scenario where landlords paid a $5,530 premium (1.1%) over homeowners ($491,787 vs $486,257).

Examining earlier quarters, landlords consistently secured discounts in Q2 and Q1 2025. In Q2, they paid $442,242, a $52,958 discount (10.7%) compared to homeowners at $495,200. In Q1, the discount was even larger at $108,360 (22.7%), with landlords paying $368,218 vs. homeowners' $476,578.

Despite reporting 0 distinct properties purchased by landlords in 2025-Q4, the average price of $335,619 is noted. Assuming these average prices reflect market activity, they indicate a slight increase from the average landlord acquisition price of $327,901 during the pandemic-era (2020-2023).

The inconsistency in landlord acquisition volume (0 properties purchased in various timeframes in section 6-1, yet average prices and transactions exist in sections 6-2 and 11-1) suggests a potential data reporting nuance. However, the price comparison trend itself indicates varying market conditions and negotiation power between investor types.

Landlords played a significant role in Maury County's Q4 2025 housing market, acquiring 78 SFR properties, which constitutes 18.0% of the total 434 SFR purchases during the quarter. The majority of activity, 356 purchases, was by non-landlord buyers.

The market for investor acquisitions in Q4 was overwhelmingly dominated by single-property landlords (Tier 01), who purchased 51 properties. This represents a substantial 60.7% of all landlord-acquired properties for the quarter, highlighting the prevalence of smaller-scale investment.

Mom-and-pop landlords (Tiers 01-04) collectively drove the vast majority of Q4 landlord purchasing activity, responsible for 73 properties, or 86.9% of all landlord acquisitions. This contrasts sharply with institutional investors (Tier 09), who accounted for only 4 properties (4.8%) of landlord purchases.

A significant trend in Q4 was the entry of new individual investors, with 71 entities making single-property purchases, signaling continued interest and accessibility for smaller-scale landlords into the Maury County market.

While single-property landlords lead in activity, other mom-and-pop tiers also contributed, with two-property landlords acquiring 6 properties (7.1%) and small landlords (3-5 properties) purchasing 11 properties (13.1%).

The average properties per entity for Q4 purchases varies, with single-property landlords naturally holding a 0.72 property per entity ratio (51 properties by 71 entities). Institutional investors (Tier 09) show a higher average, with 4 properties acquired by 3 entities (1.33 properties per entity), indicating a more concentrated buying strategy.

Mom-and-pop landlords, encompassing Tiers 01-04 (1-10 properties), collectively dominate the investor-owned housing market in Maury County, controlling 81.3% of all landlord-owned SFR properties. This represents 4,808 properties out of a total of 5,634 investor-owned units.

The backbone of the investor market is undeniably the single-property landlords (Tier 01), who own 3,338 properties, constituting 56.5% of the total investor-owned SFR. This highlights their critical role in the rental housing supply.

In contrast to the mom-and-pop segment, institutional investors (Tier 09, 1000+ properties) hold a significantly smaller but concentrated share, owning 531 properties, which represents 9.0% of the overall investor-owned SFR in the county.

The distribution of ownership gradually declines as portfolio size increases; for example, two-property landlords (Tier 02) own 511 properties (8.6%), while mid-size landlords (Tiers 05-08) collectively own 572 properties (9.7%), significantly less than the mom-and-pop segment.

The concentration of ownership clearly favors smaller investors. Even considering larger mom-and-pop portfolios, small landlords (3-5 properties) collectively own 661 properties (11.2%) and those with 6-10 properties own 298 properties (5.0%).

Individual investors overwhelmingly dominate the smaller end of the landlord spectrum, particularly in the single-property (Tier 01) segment, where they own 3,013 properties (87.7%). Companies hold a much smaller 12.3% (424 properties) in this tier.

The ownership dynamic shifts significantly as portfolio size increases; the crossover point where companies become the majority owner occurs at the Small-medium (11-20) tier, where companies own 155 properties (58.1%) compared to individuals' 112 properties (41.9%).

This trend of increasing company dominance with portfolio size is reinforced in larger tiers. For example, in the Small-medium (21-50) tier, companies own 111 properties (76.6%), and in the Medium-large (51-100) tier, they command 39 properties (84.8%) versus individuals' 7 properties (15.2%).

While individuals maintain a majority in smaller landlord tiers like 1-property (87.7%), 2-property (79.4%), and 3-5 properties (72.1%), their presence notably declines in the 6-10 property tier to 56.8%, signaling the growing influence of corporate entities at higher portfolio sizes.

The data clearly illustrates that while the vast majority of landlords are individuals, larger-scale property accumulation is increasingly the domain of company entities, shifting the ownership landscape in higher investment tiers.

Within Maury County, TN, the zip code 38401 stands out as the primary hub for investor-owned properties, accounting for 3,531 units. This represents a significant 16.9% of the total SFR properties in that specific zip code, indicating a high concentration of investment activity.

Other key geographic areas for investor presence include TN-Maury-37174 with 1,150 investor-owned properties (13.3% ownership rate) and TN-Maury-38474 with 547 investor-owned properties, demonstrating an even higher ownership rate of 22.7%.

A notable pattern emerges in smaller zip codes within Maury County, where several, such as 37027, 37129, and 37160, display a 100.0% investor ownership rate. This points to highly specialized or perhaps smaller, entirely investor-driven housing segments within the county.

While TN-Maury-38401 leads by sheer volume of investor-owned properties, TN-Maury-38474 exhibits the highest investor ownership rate among the larger, identifiable areas, suggesting that nearly a quarter of its SFR housing stock is investor-controlled.

The calculated total SFR inventory for these top regions reveals that TN-Maury-38401 has approximately 20,893 SFR properties, while TN-Maury-37174 has around 8,647, indicating that investor activity targets areas with substantial housing stock.

Landlords in Maury County consistently acted as net buyers throughout 2025, accumulating 352 properties by year-end, based on 548 buy transactions versus 196 sell transactions. This demonstrates a clear strategy of portfolio expansion within the county.

In Q4 2025, the trend continued with landlords executing 109 buy transactions against 42 sell transactions, resulting in a net gain of 67 properties. This translates to a robust buy/sell ratio of 2.60:1, indicating strong purchasing momentum.

Institutional investors (Tier 1000+) mirrored this net buyer behavior. In Q4 2025, they completed 6 buy transactions and 3 sell transactions, resulting in a net acquisition of 3 properties. For the entire year 2025, institutions purchased 31 properties while selling only 7, yielding a net gain of 24 properties.

The buy/sell ratio for all landlords remained consistently above 2.0 throughout 2025, with 2025-Q3 showing 142 buys vs 63 sells (ratio 2.25:1) and 2025-Q2 with 157 buys vs 50 sells (ratio 3.14:1), confirming an aggressive acquisition strategy over the year.

Institutional investors displayed an even higher buy/sell ratio for the full year 2025 at 4.43:1, indicating that when they do transact, it's heavily skewed towards buying rather than divesting. This signals long-term confidence or strategic expansion in the market.

Comparing year-over-year trends, landlords maintained their net buyer status, with 2025 showing a higher net acquisition of 352 properties compared to 270 properties in 2024 (450 buys vs 180 sells), indicating an accelerating pace of investment.

Landlords constituted a significant segment of Maury County's Q4 2025 transaction activity, participating in 109 transactions out of a total of 713, representing a 15.3% share of the market. This highlights their consistent presence in property exchanges.

Single-property landlords (Tier 01) were the dominant force in landlord transactions during Q4, completing 71 deals. This volume far surpasses other tiers and indicates that smaller investors are highly active in the county's market.

The average purchase price varied notably by tier, with single-property landlords (Tier 01) paying the highest at $384,830. In contrast, institutional investors (Tier 09) acquired properties at an average price of $330,098, marking a 14.2% discount compared to Tier 01 buyers.

Inter-landlord trading activity was most pronounced within the institutional tier, where 3 out of 6 (50.0%) of their Q4 transactions involved buying from other landlords. For single-property landlords (Tier 01), 7 out of 71 transactions (9.9%) were from other landlords.

Mom-and-pop landlords (Tier 01-04) collectively accounted for 96 transactions in Q4, demonstrating their broad engagement across various transaction types. Institutional investors (Tier 09) completed 6 transactions, showcasing their focused activity within the quarter.

The price spread between the highest and lowest purchasing tiers reveals a strategic pricing difference: Tier 01 buyers paid $384,830 on average, while small landlords (Tier 3-5) paid the least at $147,419, a difference of $237,411. This suggests varying property types or market segments targeted by different investor sizes.

The transaction activity in Q4 for Tier 01 (71 transactions) aligns with its strong ownership distribution (56.5% of properties), confirming that the smallest landlords are both the most numerous owners and the most active transactors in Maury County.