Real Estate Investing in Union Mills, North Carolina (28167)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28167 (Union Mills, 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.
- High vacancy: 27.8% 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 Union Mills, NC (28167)?
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Market Analysis: 28167 Union Mills
ZIP 28167 in Union Mills, NC carries a resilient set of headwinds. Home values near $241K and rents of $927/mo sit inside a market where underwriting has to be tight.
Rent of $927/mo on a $241K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 28167 sits below the stated 0.0% once reality is priced in.
On the rental side, 28167 offers a low basis, the region around Union Mills has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 28167 includes headwinds that any investor should price in. Income distribution skews lower than Union Mills averages, and tenant stability requires active management.
Strategically, 28167 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 Union Mills:
Property Strategy for 28167
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $267,925 | $1,030 | 2.8% | +9.9% | $133,962 |
| 3BR | $274,047 | $1,380 | 3.6% | +8.1% | $91,349 |
| 4BR | $434,365 | $1,450 | 2.4% | — | $108,591 |
Market Trends
Home Value History (with trend line)
📊 How Does 28167 Compare?
| Metric | 28167 | Union Mills | Forest City, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $241,394 | $241,394 | N/A | $330,565 |
| 5-Year CAGR | 4.0% | 4.0% | N/A | 7.8% |
| Avg Rent | $927 | $927 | N/A | - |
| Cap Rate | 3.0% | 3.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 28167 (Union Mills, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $241,394 |
| Monthly Rent | $927 |
| Price-to-Rent | 21.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 7.0% |
📈 Home Appreciation
| 1-Year | +4.3% ▲ |
| 3-Year CAGR | +3.3% ▲ |
| 5-Year CAGR | +4.0% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 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 (3.0%). 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 28167
Population: 2,217
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
🎓 Nearby Colleges & Universities
Investor Insight: With 1,251 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the tenant pool like in Union Mills, NC?
Expect a solid tenant pool in Union Mills, NC. The rental market absorbs $927/mo rents without meaningful friction.
Is Union Mills, NC a good market for FHA house hackers?
Union Mills, NC is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $241K price point reasonable to enter.
Should investors worry about vacancy in Union Mills, NC?
Vacancy in Union Mills, NC is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $927/mo.
What is it like being a landlord in Union Mills, NC?
NC ranks as a landlord-friendly state for landlord-tenant law. Union Mills generally follows the statewide framework, so landlords face reasonable operating rules.
What is the typical home price in Union Mills, NC?
In Union Mills, NC the median home value sits at $241K. Against the broader NC market, that reads as reasonable for most investors.
You know 28167 now. You don’t know where it ranks.
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How 28167 ranks in Forest City, NC
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