Real Estate Investing in Leland, North Carolina (28451)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28451 (Leland, NC)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
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.
What’s happening in Leland, NC (28451)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 28451 Leland
From a cash-flow lens, ZIP 28451 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $381K median. It rewards specialists, not generalists.
Put differently, the numbers look inviting — $381K purchase price, 0.0% nominal cap — the work to hit that pro forma in 28451 is substantial and deserves full respect.
Statewide comparisons place 28451 among NC's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The demographic picture in 28451 includes headwinds that any investor should price in. Income distribution skews lower than Leland averages, and tenant stability requires active management.
appears to 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 Leland:
Property Strategy for 28451
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $259,699 | $1,620 | 4.5% | +8.1% | $129,849 |
| 3BR | $347,987 | $2,250 | 4.7% | +7.5% | $115,996 |
| 4BR | $507,884 | $2,720 | 3.9% | +7.9% | $126,971 |
| 5BR | $580,534 | — | — | +7.9% | $116,107 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 28451 Compare?
| Metric | 28451 | Leland | North Carolina |
|---|---|---|---|
| Home Value | $380,629 | $380,629 | $330,565 |
| 5-Year CAGR | 5.1% | 5.1% | 7.8% |
| Avg Rent | $1,656 | $1,656 | - |
| Cap Rate | 3.4% | 3.4% | - |
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 28451 (Leland, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $380,629 |
| Monthly Rent | $1,656 |
| Price-to-Rent | 19.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 8.5% |
📈 Home Appreciation
| 1-Year | +1.2% ▲ |
| 3-Year CAGR | +0.9% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 Rent Trends
| 1-Year | -0.2% ▼ |
| 3-Year CAGR | -0.5% ▼ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). 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 28451
Population: 44,262
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 28451
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 8,867 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are home prices like in Leland, NC?
Median home price in Leland, NC is near $381K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
What is the typical vacancy rate in Leland, NC?
Occupancy in Leland, NC runs predictable with elevated vacancy. Well-priced units at $1,656/mo lease on reasonable timelines.
What kind of tenants rent in Leland, NC?
Leland, NC offers a reliable renter base at the $1,656/mo rent level. Tenant turnover is reasonable for well-managed properties.
Can I live-in-and-rent in Leland, NC?
House hacking in Leland, NC is a challenging. With home values around $381K and rents at $1,656/mo, owner-occupants can offset a meaningful share of PITI.
What is it like being a landlord in Leland, NC?
NC law landlord-friendly for landlords, and Leland inherits those rules. Investors should still review local ordinances for rental licensing.
You know 28451 now. You don’t know where it ranks.
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How 28451 ranks in Myrtle Beach-Conway-North Myrtle Beach, SC-NC
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