Real Estate Investing in Zionville, North Carolina (28698)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28698 (Zionville, NC)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 18.7% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 27.9 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Zionville, NC (28698)?
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Market Analysis: 28698 Zionville
Not every below-median market is a bargain. Zionville's 28698 ZIP stands at signals that favor experienced operators who can absorb the risk $346K pricing implies.
Put differently, the numbers look inviting — $346K purchase price, 0.0% nominal cap — the work to hit that pro forma in 28698 is substantial and deserves full respect.
From a cash-flow lens, 28698 offers a low basis, the region around Zionville has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A healthy renter share of 11% in 28698 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 28698 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 Zionville:
Property Strategy for 28698
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $296,746 | $1,150 | 2.8% | +8.3% | $148,373 |
| 3BR | $366,132 | $1,400 | 2.8% | +10.1% | $122,044 |
Market Trends
Home Value History (with trend line)
📊 How Does 28698 Compare?
| Metric | 28698 | Zionville | Boone, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $346,414 | $346,414 | N/A | $330,565 |
| 5-Year CAGR | 5.6% | 5.6% | N/A | 7.8% |
| Avg Rent | $1,035 | $1,035 | N/A | - |
| Cap Rate | 2.3% | 2.3% | - | - |
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 28698 (Zionville, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $346,414 |
| Monthly Rent | $1,035 |
| Price-to-Rent | 27.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.3% |
| 5-Year IRR | 7.9% |
📈 Home Appreciation
| 1-Year | +1.2% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 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 (2.3%). 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 28698
Population: 2,259
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 28698
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
Frequently Asked Questions
How strong is Zionville, NC for real estate investors?
With a 3.0/5 investability score, Zionville, NC ranks as a solid market for rental property investors. Median prices of $346K and rents of $1,035/mo drive the underlying numbers.
What monthly rent should investors expect in Zionville, NC?
Investors in Zionville, NC typically see rents near $1,035/mo per month against $346K home values - a solid setup for rental cash flow.
How tight is the rental market in Zionville, NC?
Rental vacancy in Zionville, NC is elevated. Investors should budget normal turnover but not chronic empty units.
Are eviction rules reasonable in Zionville, NC?
NC law landlord-friendly for landlords, and Zionville inherits those rules. Investors should still review local ordinances for rental licensing.
Are homes affordable in Zionville, NC?
Median home price in Zionville, NC is near $346K, with a 5-year CAGR of 0.0%. Prices have been steady and supportive of buy-and-hold strategies.
You know 28698 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 28698 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 28698 ranks in Boone, NC
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