Real Estate Investing in Rockwell, North Carolina (28138)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28138 (Rockwell, 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.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Rockwell, NC (28138)?
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Market Analysis: 28138 Rockwell
Not every below-median market is a bargain. Rockwell's 28138 ZIP registers signals that favor experienced operators who can absorb the risk $298K pricing implies.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 28138 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
In the broader NC picture, 28138 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 28138 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 28138 is an operator game, not a passive one. Meanwhile, entry prices of $298K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Rockwell:
Property Strategy for 28138
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $234,558 | $1,240 | 3.8% | +12.0% | $117,279 |
| 3BR | $317,918 | $1,620 | 3.7% | +10.2% | $105,973 |
| 4BR | $431,135 | $2,070 | 3.5% | +9.6% | $107,784 |
Market Trends
Home Value History (with trend line)
📊 How Does 28138 Compare?
| Metric | 28138 | Rockwell | North Carolina |
|---|---|---|---|
| Home Value | $298,020 | $298,020 | $330,565 |
| 5-Year CAGR | 6.0% | 6.0% | 7.8% |
| Avg Rent | $1,116 | $1,116 | - |
| Cap Rate | 2.9% | 2.9% | - |
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 28138 (Rockwell, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $298,020 |
| Monthly Rent | $1,116 |
| Price-to-Rent | 22.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.5% |
| Cap Rate | 2.9% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +4.5% ▲ |
| 3-Year CAGR | +3.6% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (2.9%). 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 28138
Population: 9,795
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 28138
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 1,763 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What price range are homes in Rockwell, NC?
Median home price in Rockwell, NC is near $298K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
Is Rockwell, NC good for house hacking?
House hacking in Rockwell, NC is a challenging. With home values around $298K and rents at $1,116/mo, owner-occupants can offset a meaningful share of PITI.
Are rents high in Rockwell, NC?
Rockwell, NC rentals go for roughly $1,116/mo a month. That puts gross yield in solid territory relative to $298K acquisition costs.
Is Rockwell, NC good for landlords?
Rockwell, NC falls under NC landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
What type of investing works in Rockwell, NC?
Investors usually favor careful cash-flow rentals with hands-on management in Rockwell, NC. With home values at $298K and rents near $1,116/mo, other strategies can work but produce stable rather than outsized returns.
You know 28138 now. You don’t know where it ranks.
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How 28138 ranks in Charlotte-Concord-Gastonia, NC-SC
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