Real Estate Investing in Gatesville, North Carolina (27938)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 27938 (Gatesville, NC)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.2% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Gatesville, NC (27938)?
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Market Analysis: 27938 Gatesville
The 27938 ZIP in Gatesville, NC is a local-operator market. Outside capital chasing a $225K entry has to pair deep knowledge with the discount.
Stepping back, the numbers look inviting — $225K purchase price, 0.0% nominal cap — the work to hit that pro forma in 27938 is substantial and deserves full respect.
Within NC, ZIP 27938 trails on several market indicators that neighboring Gates County submarkets outperform. The gap is real and solid enough to shape underwriting.
In practical terms, 1,863 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 27938 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 Gatesville:
Market Trends
Home Value History (with trend line)
📊 How Does 27938 Compare?
| Metric | 27938 | Gatesville | North Carolina |
|---|---|---|---|
| Home Value | $224,723 | $224,723 | $330,565 |
| 5-Year CAGR | 6.5% | 6.5% | 7.8% |
| Avg Rent | $1,683 | $1,683 | - |
| Cap Rate | 5.8% | 5.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 27938 (Gatesville, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $224,723 |
| Monthly Rent | $1,683 |
| Price-to-Rent | 11.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.0% |
| Cap Rate | 5.8% |
| 5-Year IRR | 12.3% |
📈 Home Appreciation
| 1-Year | +10.2% ▲ |
| 3-Year CAGR | +11.2% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +6.0% ▲ |
🏠 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 (5.8%). 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 27938
Population: 1,863
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 27938
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
What is the rental occupancy rate in Gatesville, NC?
Occupancy in Gatesville, NC runs stable with elevated vacancy. Well-priced units at $1,683/mo lease on reasonable timelines.
How should investors approach Gatesville, NC?
In Gatesville, NC the significant play is typically careful cash-flow rentals with hands-on management. The combination of $225K prices and $1,683/mo rents suits that approach.
Is real estate in Gatesville, NC a good investment right now?
Gatesville, NC scores 3.0/5 for investability. Home values sit at $225K and rents near $1,683/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Does house hacking work in Gatesville, NC?
House hacking works a challenging in Gatesville, NC. Rents of $1,683/mo against $225K acquisition make the strategy solid for owner-occupants.
What monthly rent should investors expect in Gatesville, NC?
Rental rates in Gatesville, NC average $1,683/mo. Tenant demand and $225K home values make the yield look reasonable by investor standards.
You know 27938 now. You don’t know where it ranks.
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How 27938 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
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