Real Estate Investing in Spring Lake, North Carolina (28390)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28390 (Spring Lake, 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: 13.9% of homes vacant — above national norms.
What’s happening in Spring Lake, NC (28390)?
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Market Analysis: 28390 Spring Lake
Put differently, ZIP 28390 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $246K median. It rewards specialists, not generalists.
For an experienced owner, 28390 can be a a credible choice for hunting ground — but the discount at $246K reflects genuine risk that outside investors often underestimate.
Within NC, ZIP 28390 trails on several market indicators that neighboring Harnett County submarkets outperform. The gap is real and durable enough to shape underwriting.
Put differently, 24,158 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Distressed ZIPs reward experience. durable returns are possible in 28390, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Spring Lake:
Property Strategy for 28390
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $151,658 | $1,160 | 5.5% | +10.4% | $75,829 |
| 3BR | $196,156 | $1,590 | 5.8% | +10.4% | $65,385 |
| 4BR | $349,429 | $1,940 | 4.0% | +7.4% | $87,357 |
| 5BR | $394,910 | — | — | +6.7% | $78,982 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 28390 Compare?
| Metric | 28390 | Spring Lake | Fayetteville, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $246,239 | $246,239 | N/A | $330,565 |
| 5-Year CAGR | 6.7% | 6.7% | N/A | 7.8% |
| Avg Rent | $1,409 | $1,409 | N/A | - |
| Cap Rate | 4.5% | 4.5% | - | - |
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 28390 (Spring Lake, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $246,239 |
| Monthly Rent | $1,409 |
| Price-to-Rent | 14.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.9% |
| Cap Rate | 4.5% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +5.2% ▲ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | -2.4% ▼ |
| 3-Year CAGR | +2.3% ▲ |
| 5-Year CAGR | +3.9% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.5%). 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 28390
Population: 24,158
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 28390
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 3,650 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How tight is the rental market in Spring Lake, NC?
Vacancy risk in Spring Lake, NC is elevated. That supports reliable cash flow for typical rental holds.
Are rents high in Spring Lake, NC?
Spring Lake, NC rentals go for roughly $1,409/mo a month. That puts gross yield in solid territory relative to $246K acquisition costs.
Is the tenant base reliable in Spring Lake, NC?
Tenant demand in Spring Lake, NC is solid. The local workforce $1,409/mo rents across most rental classes.
What type of investing works in Spring Lake, NC?
Investors usually favor careful cash-flow rentals with hands-on management in Spring Lake, NC. With home values at $246K and rents near $1,409/mo, other strategies can work but produce even-keeled rather than outsized returns.
How strong is Spring Lake, NC for real estate investors?
Spring Lake, NC scores 3.0/5 for investability. Home values sit at $246K and rents near $1,409/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 28390 now. You don’t know where it ranks.
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How 28390 ranks in Fayetteville, NC
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