Real Estate Investing in Elrod, North Carolina (28383)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28383 (Elrod, 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: 12.3% of homes vacant — above national norms.
- Elevated poverty: 21.0% poverty rate — can affect rent collection.
- Lower household income: $35,470 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Elrod, NC (28383)?
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Market Analysis: 28383 Elrod
Looking more closely, ZIP 28383 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $107K median. It rewards specialists, not generalists.
Rent of $837/mo on a $107K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 28383 sits below the stated 0.0% once reality is priced in.
The gap between 28383 and stronger Elrod ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 28383 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 28383 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Elrod:
Property Strategy for 28383
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $67,532 | $930 | 9.9% | +9.2% | $33,766 |
| 3BR | $110,448 | $1,190 | 7.8% | +8.3% | $36,816 |
| 4BR | $161,391 | $1,390 | 6.2% | +9.0% | $40,348 |
Market Trends
Home Value History (with trend line)
📊 How Does 28383 Compare?
| Metric | 28383 | Elrod | Lumberton, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $107,251 | $107,251 | N/A | $330,565 |
| 5-Year CAGR | 5.3% | 5.3% | N/A | 7.8% |
| Avg Rent | $837 | $837 | N/A | - |
| Cap Rate | 6.1% | 6.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 28383 (Elrod, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $107,251 |
| Monthly Rent | $837 |
| Price-to-Rent | 10.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.4% |
| Cap Rate | 6.1% |
| 5-Year IRR | 11.4% |
📈 Home Appreciation
| 1-Year | +2.4% ▲ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | N/A |
🏠 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 (6.1%). 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 28383
Population: 6,794
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 28383
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 778 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do landlord-tenant laws work in Elrod, NC?
Rental owners in Elrod, NC deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Are tenants stable in Elrod, NC?
Tenant demand in Elrod, NC is solid. The local workforce $837/mo rents across most rental classes.
Is housing expensive in Elrod, NC?
In Elrod, NC the median home value sits at $107K. Against the broader NC market, that reads as reasonable for most investors.
Is Elrod, NC suited for a house hack?
Elrod, NC is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $107K price point reasonable to enter.
Which real estate strategy fits Elrod, NC?
In Elrod, NC the substantial play is typically careful cash-flow rentals with hands-on management. The combination of $107K prices and $837/mo rents suits that approach.
You know 28383 now. You don’t know where it ranks.
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How 28383 ranks in Lumberton, NC
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