Real Estate Investing in Wallace, North Carolina (28466)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28466 (Wallace, 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: 15.6% 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 Wallace, NC (28466)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 28466 Wallace
Put differently, ZIP 28466 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $218K median. It rewards specialists, not generalists.
The investment case in 28466 is robust only for operators who understand what they are buying. A $218K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 28466's metrics run below Duplin County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 28466 ZIP's population of 8,746 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that posts the need for careful underwriting.
looks 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 Wallace:
Property Strategy for 28466
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $122,404 | $980 | 5.8% | +11.9% | $61,202 |
| 3BR | $209,619 | $1,370 | 4.7% | +10.4% | $69,873 |
| 4BR | $390,737 | $1,640 | 3.0% | +9.9% | $97,684 |
Market Trends
Home Value History (with trend line)
📊 How Does 28466 Compare?
| Metric | 28466 | Wallace | Wilmington, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $218,440 | $218,440 | N/A | $330,565 |
| 5-Year CAGR | 7.5% | 7.5% | N/A | 7.8% |
| Avg Rent | $882 | $882 | N/A | - |
| Cap Rate | 3.2% | 3.2% | - | - |
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 28466 (Wallace, NC). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 28466 (Wallace, NC)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $218,440 |
| Monthly Rent | $882 |
| Price-to-Rent | 20.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +3.5% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +7.5% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 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 (3.2%). 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 28466
Population: 8,746
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 28466
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.
Frequently Asked Questions
How strong is the working-renter base in Wallace, NC?
Tenant demand in Wallace, NC is solid. The local workforce $882/mo rents across most rental classes.
How does Wallace, NC rate as a rental market?
Wallace, NC rates 3.0/5 for investability. With median values at $218K and rents near $882/mo, the market offers reasonable fundamentals for rental investors.
Is NC a landlord-friendly state?
Landlord-friendliness in Wallace, NC is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is Wallace, NC a good market for FHA house hackers?
Wallace, NC offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $882/mo rent level.
What is the typical home price in Wallace, NC?
Homes in Wallace, NC typically sell near $218K. Prices have moved at a 0.0% 5-year CAGR, which steady long-term demand.
You know 28466 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 28466 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 28466 ranks in Wilmington, NC
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 28466 (Wallace)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 28466 (Wallace, NC).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.