Real Estate Investing in Cedar Island, North Carolina (28520)
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Should you buy in 28520 (Cedar Island, 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: 38.7% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Cedar Island, NC (28520)?
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Market Analysis: 28520 Cedar Island
ZIP 28520 inside Carteret looks affordable on the surface — median value of $289K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 28520 can be a a solid fit for hunting ground — but the discount at $289K reflects genuine risk that outside investors often underestimate.
The gap between 28520 and stronger Cedar Island ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Looking more closely, 143 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.
Experienced landlords with local relationships tend to find 28520 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 Cedar Island:
Market Trends
Home Value History (with trend line)
📊 How Does 28520 Compare?
| Metric | 28520 | Cedar Island | North Carolina |
|---|---|---|---|
| Home Value | $288,854 | $288,854 | $330,565 |
| 5-Year CAGR | 6.4% | 6.4% | 7.8% |
| Avg Rent | $1,017 | $1,017 | - |
| Cap Rate | 2.8% | 2.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 28520 (Cedar Island, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $288,854 |
| Monthly Rent | $1,017 |
| Price-to-Rent | 23.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.8% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +10.2% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 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 (2.8%). 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 28520
Population: 143
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
Frequently Asked Questions
What is the average monthly rent in Cedar Island, NC?
Rent in Cedar Island, NC is around $1,017/mo. The resulting rent-to-value relationship with $289K pricing is reasonable for most investor models.
Which investment style suits Cedar Island, NC?
Investors usually favor careful cash-flow rentals with hands-on management in Cedar Island, NC. With home values at $289K and rents near $1,017/mo, other strategies can work but produce consistent rather than outsized returns.
How strong is Cedar Island, NC for real estate investors?
Cedar Island, NC scores 3.0/5 for investability. Home values sit at $289K and rents near $1,017/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Can I house hack in Cedar Island, NC?
Cedar Island, NC offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,017/mo rent level.
Is vacancy a concern in Cedar Island, NC?
Rental vacancy in Cedar Island, NC is elevated. Investors should budget normal turnover but not chronic empty units.
You know 28520 now. You don’t know where it ranks.
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