Real Estate Investing in Richfield, North Carolina (28137)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28137 (Richfield, 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: 21.3% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 26.1 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Richfield, NC (28137)?
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Market Analysis: 28137 Richfield
Investors eyeing 28137 need to respect the fundamentals at play. Home values of $327K come alongside slower price movement and elevated management overhead.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $327K asset, 28137 is the wrong submarket. If the plan prices in friction, the yield can still work.
Nearby ZIPs in Richfield have seen price recovery that 28137 has not matched. Stanly County data supports the view that the spread is structural rather than temporary.
A substantial renter share of 16% in 28137 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 28137 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Richfield:
Property Strategy for 28137
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $230,380 | $1,160 | 3.6% | +9.9% | $115,190 |
| 3BR | $316,220 | $1,590 | 3.6% | +9.3% | $105,407 |
| 4BR | $448,723 | $1,950 | 3.1% | — | $112,181 |
Market Trends
Home Value History (with trend line)
📊 How Does 28137 Compare?
| Metric | 28137 | Richfield | Albemarle, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $327,250 | $327,250 | N/A | $330,565 |
| 5-Year CAGR | 5.8% | 5.8% | N/A | 7.8% |
| Avg Rent | $1,044 | $1,044 | N/A | - |
| Cap Rate | 2.5% | 2.5% | - | - |
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 28137 (Richfield, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $327,250 |
| Monthly Rent | $1,044 |
| Price-to-Rent | 26.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 8.3% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +5.0% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 (2.5%). 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 28137
Population: 2,618
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 28137
Schools in This ZIP Code
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
Gray Stone Day
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 603 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Richfield, NC good for landlords?
Richfield, NC operates under NC law, which is landlord-friendly overall for landlords. Expect measured treatment in typical lease and eviction cases.
What investment strategy works best in Richfield, NC?
A careful cash-flow rentals with hands-on management strategy Richfield, NC best. The market produces even-keeled results for that approach at the $327K price point.
What monthly rent should investors expect in Richfield, NC?
Richfield, NC rentals go for roughly $1,044/mo a month. That puts gross yield in solid territory relative to $327K acquisition costs.
Can I house hack in Richfield, NC?
The house hack math a challenging in Richfield, NC. Owner-occupant buyers benefit from the $1,044/mo rents and $327K home values.
Is housing expensive in Richfield, NC?
Typical homes in Richfield, NC go for around $327K. The 5-year CAGR of 0.0% consistent price movement.
You know 28137 now. You don’t know where it ranks.
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How 28137 ranks in Albemarle, NC
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