Real Estate Investing in Elizabeth City, North Carolina (27909)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 27909 (Elizabeth City, NC)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.6% vacancy may signal weakening demand.
What’s happening in Elizabeth City, NC (27909)?
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Market Analysis: 27909 Elizabeth City
Investors eyeing 27909 need to respect the fundamentals at play. Home values of $270K come alongside slower price movement and elevated management overhead.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $270K asset, 27909 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 27909 among NC's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 27909 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The right play in 27909 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 Elizabeth City:
Property Strategy for 27909
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $151,679 | $1,190 | 5.6% | +10.1% | $75,840 |
| 3BR | $260,044 | $1,600 | 4.4% | +9.2% | $86,681 |
| 4BR | $357,191 | $1,860 | 3.7% | +8.9% | $89,298 |
| 5BR | $401,948 | — | — | +8.4% | $80,390 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 27909 Compare?
| Metric | 27909 | Elizabeth City | Elizabeth City, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $270,386 | $270,386 | N/A | $330,565 |
| 5-Year CAGR | 6.7% | 6.7% | N/A | 7.8% |
| Avg Rent | $1,524 | $1,524 | N/A | - |
| Cap Rate | 4.4% | 4.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 27909 (Elizabeth City, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $270,386 |
| Monthly Rent | $1,524 |
| Price-to-Rent | 14.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.8% |
| Cap Rate | 4.4% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +4.1% ▲ |
| 3-Year CAGR | +5.0% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | +0.5% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.4%). 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 27909
Population: 40,878
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 27909
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 984 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is vacancy a concern in Elizabeth City, NC?
Elizabeth City, NC vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How much is rent in Elizabeth City, NC?
Average rent in Elizabeth City, NC is approximately $1,524/mo per month. Against $270K home values that yields a reasonable rent-to-price ratio.
Is it easy to find good tenants in Elizabeth City, NC?
Tenant quality in Elizabeth City, NC ranks as solid. Landlords generally report stable occupancy at market rents of $1,524/mo.
How should investors approach Elizabeth City, NC?
A careful cash-flow rentals with hands-on management strategy Elizabeth City, NC best. The market produces consistent results for that approach at the $270K price point.
Is Elizabeth City, NC a good place for real estate investing?
With a 3.0/5 investability score, Elizabeth City, NC ranks as a solid market for rental property investors. Median prices of $270K and rents of $1,524/mo drive the underlying numbers.
You know 27909 now. You don’t know where it ranks.
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