Real Estate Investing in Mooresville, North Carolina (28117)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28117 (Mooresville, NC)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.1% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 34.9 — hard to cash-flow at these prices.
What’s happening in Mooresville, NC (28117)?
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Market Analysis: 28117 Mooresville
ZIP 28117 inside Iredell County looks affordable on the surface — median value of $637K — but the discount exists for reasons that a careful buyer should understand before committing.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $637K asset, 28117 is the wrong submarket. If the plan prices in friction, the yield can still work.
ZIP 28117's metrics run below Iredell County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A resilient renter share of 32% in 28117 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 28117 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 Mooresville:
Property Strategy for 28117
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $322,471 | $2,010 | 4.5% | +6.2% | $161,235 |
| 3BR | $475,290 | $2,710 | 4.1% | +8.4% | $158,430 |
| 4BR | $823,750 | $3,370 | 2.9% | +10.0% | $205,937 |
| 5BR | $860,596 | — | — | +9.6% | $172,119 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 28117 Compare?
| Metric | 28117 | Mooresville | North Carolina |
|---|---|---|---|
| Home Value | $636,888 | $523,191 | $330,565 |
| 5-Year CAGR | 5.7% | 5.6% | 7.8% |
| Avg Rent | $1,521 | $1,748 | - |
| Cap Rate | 1.9% | 2.8% | - |
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 28117 (Mooresville, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $636,888 |
| Monthly Rent | $1,521 |
| Price-to-Rent | 34.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +1.1% ▲ |
| 3-Year CAGR | +2.0% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 Rent Trends
| 1-Year | -6.0% ▼ |
| 3-Year CAGR | -1.7% ▼ |
| 5-Year CAGR | +0.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.9%). 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 28117
Population: 48,170
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 28117
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 1,826 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the median home value in Mooresville, NC?
In Mooresville, NC the median home value sits at $637K. Against the broader NC market, that reads as reasonable for most investors.
What are vacancy rates like in Mooresville, NC?
Occupancy in Mooresville, NC runs predictable with elevated vacancy. Well-priced units at $1,521/mo lease on reasonable timelines.
Is Mooresville, NC a good market for buy-and-hold investors?
Mooresville, NC reflects an investability rating of 3.0/5, with median home values near $637K and average rents around $1,521/mo. That combination puts it in the solid tier for investor interest.
Are landlord laws favorable in Mooresville, NC?
The landlord environment in Mooresville, NC is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What is the tenant pool like in Mooresville, NC?
The renter base in Mooresville, NC is reasonable for the $1,521/mo price point. Screening well and pricing to market typically yields consistent tenants.
You know 28117 now. You don’t know where it ranks.
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How 28117 ranks in Charlotte-Concord-Gastonia, NC-SC
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