Real Estate Investing in Albemarle, North Carolina (28009)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28009 (Albemarle, 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: 21.5% 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 Albemarle, NC (28009)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 28009 Albemarle
Investors eyeing 28009 need to respect the fundamentals at play. Home values of $174K come alongside slower price movement and elevated management overhead.
For an experienced owner, 28009 can be a an appealing option for hunting ground — but the discount at $174K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Albemarle have seen price recovery that 28009 has not matched. Stanly County data supports the view that the spread is structural rather than temporary.
Resident income in 28009 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
New investors are better served looking at Albemarle's stable or hybrid ZIPs before stepping into 28009. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Albemarle:
Property Strategy for 28009
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $124,180 | $940 | 5.5% | +14.6% | $62,090 |
| 3BR | $177,926 | $1,300 | 5.3% | +10.6% | $59,309 |
Market Trends
Home Value History (with trend line)
📊 How Does 28009 Compare?
| Metric | 28009 | Albemarle | Albemarle, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $174,257 | $220,073 | N/A | $330,565 |
| 5-Year CAGR | 10.0% | 8.3% | N/A | 7.8% |
| Avg Rent | $846 | $1,145 | N/A | - |
| Cap Rate | 3.8% | 4.0% | - | - |
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 28009 (Albemarle, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $174,257 |
| Monthly Rent | $846 |
| Price-to-Rent | 17.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 13.8% |
📈 Home Appreciation
| 1-Year | +9.9% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +10.0% ▲ |
| 10-Year CAGR | +12.6% ▲ |
🏠 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 (3.8%). 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 28009
Population: 1,343
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 28009
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 1,059 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Albemarle, NC a good market for buy-and-hold investors?
Our data puts Albemarle, NC at 3.0/5 for investability. Home prices of $174K and rents around $846/mo create a solid backdrop for investor activity.
Does house hacking work in Albemarle, NC?
House hacking works a challenging in Albemarle, NC. Rents of $846/mo against $174K acquisition make the strategy solid for owner-occupants.
How quickly do rentals get leased in Albemarle, NC?
Albemarle, NC carries elevated vacancy risk. Expect measured absorption at market rents of $846/mo.
Where do home prices stand in Albemarle, NC?
Albemarle, NC median home values land near $174K. That is reasonable territory for investors looking at $846/mo-per-month rentals.
What investment strategy works best in Albemarle, NC?
Most investors in Albemarle, NC run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
You know 28009 now. You don’t know where it ranks.
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How 28009 ranks in Albemarle, NC
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