Real Estate Investing in Carolina Beach, North Carolina (28428)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28428 (Carolina Beach, 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: 49.4% of homes vacant — above national norms.
What’s happening in Carolina Beach, NC (28428)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 28428 Carolina Beach
Looking more closely, ZIP 28428 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $608K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $608K asset, 28428 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader NC picture, 28428 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Employment concentration in 28428 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Carolina Beach:
Property Strategy for 28428
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $345,226 | $1,630 | 3.4% | +9.6% | $345,226 |
| 2BR | $488,830 | $1,790 | 2.6% | +9.9% | $244,415 |
| 3BR | $654,479 | $2,350 | 2.6% | +9.7% | $218,160 |
| 4BR | $844,567 | $2,500 | 2.1% | +8.8% | $211,142 |
| 5BR | $1,054,926 | — | — | +7.6% | $210,985 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 28428 Compare?
| Metric | 28428 | Carolina Beach | Wilmington, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $607,537 | $607,537 | N/A | $330,565 |
| 5-Year CAGR | 5.4% | 5.4% | N/A | 7.8% |
| Avg Rent | $2,563 | $2,563 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
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 28428 (Carolina Beach, NC). Anonymous, moderated, never written by AI.
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Property managers serving New Hanover County
Manage rentals here? List your business →A1 Property Management specializes in professionally managed vacation rentals in Carolina Beach and Kure Beach on Pleasure Island. summary from their website
CAMS (Community Association Management Services) provides management and financial services for community associations, including onboarding and transition support. summary from their website
Wilmington, NC property management company offering services for homes and apartment communities, aiming to reduce owner stress and maximize earnings. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $607,537 |
| Monthly Rent | $2,563 |
| Price-to-Rent | 19.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +2.2% ▲ |
| 3-Year CAGR | +0.6% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 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 (3.3%). 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 28428
Population: 7,034
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 28428
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 8,100 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What investment strategy works best in Carolina Beach, NC?
In Carolina Beach, NC the notable play is typically careful cash-flow rentals with hands-on management. The combination of $608K prices and $2,563/mo rents suits that approach.
Is rental property easy to operate in Carolina Beach, NC?
Landlord-friendliness in Carolina Beach, NC is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How high is vacancy risk in Carolina Beach, NC?
Vacancy risk in Carolina Beach, NC is elevated. That supports measured cash flow for typical rental holds.
Is Carolina Beach, NC good for house hacking?
The house hack math a challenging in Carolina Beach, NC. Owner-occupant buyers benefit from the $2,563/mo rents and $608K home values.
What do landlords charge for rent in Carolina Beach, NC?
Expect rents around $2,563/mo per month in Carolina Beach, NC. With home values at $608K, the yield math works out to reasonable levels for rental investors.
You know 28428 now. You don’t know where it ranks.
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How 28428 ranks in Wilmington, NC
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