Real Estate Investing in Hot Springs, North Carolina (28743)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28743 (Hot Springs, 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: 30.1% 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 Hot Springs, NC (28743)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 28743 Hot Springs
This part of Madison County is not an easy win. The 28743 ZIP sits at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 28743 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
The gap between 28743 and stronger Hot Springs ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Looking more closely, 2,374 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 28743 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 Hot Springs:
Market Trends
Home Value History (with trend line)
📊 How Does 28743 Compare?
| Metric | 28743 | Hot Springs | Asheville, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $329,334 | $329,334 | N/A | $330,565 |
| 5-Year CAGR | 3.3% | 3.3% | N/A | 7.8% |
| Avg Rent | $1,233 | $1,233 | N/A | - |
| Cap Rate | 2.9% | 2.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 28743 (Hot Springs, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $329,334 |
| Monthly Rent | $1,233 |
| Price-to-Rent | 22.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.5% |
| Cap Rate | 2.9% |
| 5-Year IRR | 6.2% |
📈 Home Appreciation
| 1-Year | +2.4% ▲ |
| 3-Year CAGR | +2.0% ▲ |
| 5-Year CAGR | +3.3% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 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 (2.9%). 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 28743
Population: 2,374
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 28743
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
What is the typical rental rate in Hot Springs, NC?
Rental rates in Hot Springs, NC average $1,233/mo. Tenant demand and $329K home values make the yield look reasonable by investor standards.
Where do home prices stand in Hot Springs, NC?
Median home price in Hot Springs, NC is near $329K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
Is Hot Springs, NC a smart market for rental property?
Hot Springs, NC scores 3.0/5 for investability. Home values sit at $329K and rents near $1,233/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How do experienced investors play Hot Springs, NC?
Investors usually favor careful cash-flow rentals with hands-on management in Hot Springs, NC. With home values at $329K and rents near $1,233/mo, other strategies can work but produce steady rather than outsized returns.
Can I live-in-and-rent in Hot Springs, NC?
The a challenging house-hack environment in Hot Springs, NC reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
You know 28743 now. You don’t know where it ranks.
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How 28743 ranks in Asheville, NC
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