Real Estate Investing in Statesville, North Carolina (28677)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28677 (Statesville, 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.
- Elevated vacancy: 9.7% vacancy may signal weakening demand.
What’s happening in Statesville, NC (28677)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 28677 Statesville
The 28677 ZIP covers a section of Statesville that demands careful diligence. Prices near $284K look accessible, but the work to make a deal cash flow is real.
For an experienced owner, 28677 can be a a solid fit for hunting ground — but the discount at $284K reflects genuine risk that outside investors often underestimate.
ZIP 28677's metrics run below Iredell County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A substantial renter share of 35% in 28677 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 28677 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Statesville:
Property Strategy for 28677
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $163,018 | $1,250 | 5.5% | +10.5% | $81,509 |
| 3BR | $272,389 | $1,720 | 4.5% | +8.7% | $90,796 |
| 4BR | $363,807 | $2,100 | 4.2% | +8.4% | $90,952 |
| 5BR | $424,835 | — | — | +8.3% | $84,967 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 28677 Compare?
| Metric | 28677 | Statesville | North Carolina |
|---|---|---|---|
| Home Value | $283,657 | $298,294 | $330,565 |
| 5-Year CAGR | 5.6% | 5.8% | 7.8% |
| Avg Rent | $1,537 | $1,717 | - |
| Cap Rate | 4.2% | 4.5% | - |
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 28677 (Statesville, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $283,657 |
| Monthly Rent | $1,537 |
| Price-to-Rent | 15.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.5% |
| Cap Rate | 4.2% |
| 5-Year IRR | 9.8% |
📈 Home Appreciation
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +8.5% ▲ |
🏠 Rent Trends
| 1-Year | +1.3% ▲ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.2%). 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 28677
Population: 37,628
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 28677
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 1,826 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much should I expect to pay for a home in Statesville, NC?
Median home price in Statesville, NC is near $284K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
How strong is tenant demand in Statesville, NC?
Tenant demand in Statesville, NC is solid. The local workforce $1,537/mo rents across most rental classes.
What is the typical rental rate in Statesville, NC?
Statesville, NC rentals go for roughly $1,537/mo a month. That puts gross yield in solid territory relative to $284K acquisition costs.
How does Statesville, NC rate as a rental market?
Yes - Statesville, NC a 3.0/5 investability score. With $284K home prices against $1,537/mo monthly rent, the market delivers a reasonable entry point for new investors.
Are eviction rules reasonable in Statesville, NC?
Landlord-friendliness in Statesville, NC is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 28677 now. You don’t know where it ranks.
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How 28677 ranks in Charlotte-Concord-Gastonia, NC-SC
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