Real Estate Investing in Roaring Gap, North Carolina (28668)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28668 (Roaring Gap, NC)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 85.0% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 37.0 — hard to cash-flow at these prices.
• 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 Roaring Gap, NC (28668)?
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Market Analysis: 28668 Roaring Gap
ZIP 28668 inside Alleghany County looks affordable on the surface — median value of $372K — but the discount exists for reasons that a careful buyer should understand before committing.
Stepping back, the numbers look inviting — $372K purchase price, 0.0% nominal cap — the work to hit that pro forma in 28668 is substantial and deserves full respect.
On balance, 28668 offers a low basis, the region around Roaring Gap has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Demographically, 28668 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategy in 28668 is an operator game, not a passive one. Looking more closely, entry prices of $372K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Roaring Gap:
Market Trends
Home Value History (with trend line)
📊 How Does 28668 Compare?
| Metric | 28668 | Roaring Gap | North Carolina |
|---|---|---|---|
| Home Value | $372,034 | $372,034 | $330,565 |
| 5-Year CAGR | 6.0% | 6.0% | 7.8% |
| Avg Rent | $837 | $837 | - |
| Cap Rate | 1.8% | 1.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 28668 (Roaring Gap, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $372,034 |
| Monthly Rent | $837 |
| Price-to-Rent | 37.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.7% |
| Cap Rate | 1.8% |
| 5-Year IRR | 7.8% |
📈 Home Appreciation
| 1-Year | +7.6% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 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 (1.8%). 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 28668
Population: 166
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
How do landlord-tenant laws work in Roaring Gap, NC?
The landlord environment in Roaring Gap, NC is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
How deep is the rental pool in Roaring Gap, NC?
Working renters make up the core of the Roaring Gap, NC tenant base. The pool is reasonable for investors targeting long-term holds.
Are rents high in Roaring Gap, NC?
Rental rates in Roaring Gap, NC average $837/mo. Tenant demand and $372K home values make the yield look reasonable by investor standards.
Is house hacking profitable in Roaring Gap, NC?
The a challenging house-hack environment in Roaring Gap, NC reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Are homes affordable in Roaring Gap, NC?
Expect median prices around $372K in Roaring Gap, NC. The market has run at a 0.0% 5-year CAGR, so entry costs have been stable.
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