Real Estate Investing in Warne, North Carolina (28909)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28909 (Warne, 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: 41.4% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 27.0 — 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 Warne, NC (28909)?
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Market Analysis: 28909 Warne
Not every below-median market is a bargain. Warne's 28909 ZIP registers signals that favor experienced operators who can absorb the risk $291K pricing implies.
Distressed markets are won on execution, not on spreadsheets. ZIP 28909 clocks in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
In the broader NC picture, 28909 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Employment concentration in 28909 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 28909 is an operator game, not a passive one. Stepping back, entry prices of $291K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Warne:
Property Strategy for 28909
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $274,731 | $1,000 | 2.6% | +10.0% | $137,365 |
| 3BR | $304,362 | $1,380 | 3.3% | +9.2% | $101,454 |
Market Trends
Home Value History (with trend line)
📊 How Does 28909 Compare?
| Metric | 28909 | Warne | North Carolina |
|---|---|---|---|
| Home Value | $291,464 | $291,464 | $330,565 |
| 5-Year CAGR | 5.9% | 5.9% | 7.8% |
| Avg Rent | $900 | $900 | - |
| Cap Rate | 2.4% | 2.4% | - |
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 28909 (Warne, NC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $291,464 |
| Monthly Rent | $900 |
| Price-to-Rent | 27.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 8.3% |
📈 Home Appreciation
| 1-Year | +0.5% ▲ |
| 3-Year CAGR | +2.8% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 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 (2.4%). 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 28909
Population: 356
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How should investors approach Warne, NC?
Most investors in Warne, NC run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
How much do tenants pay in Warne, NC?
Rent in Warne, NC is around $900/mo. The resulting rent-to-value relationship with $291K pricing is reasonable for most investor models.
What is the renter demographic in Warne, NC?
Warne, NC offers a predictable renter base at the $900/mo rent level. Tenant turnover is reasonable for well-managed properties.
What is it like being a landlord in Warne, NC?
NC ranks as a landlord-friendly state for landlord-tenant law. Warne generally follows the statewide framework, so landlords face reasonable operating rules.
Is vacancy a concern in Warne, NC?
Rental vacancy in Warne, NC is elevated. Investors should budget normal turnover but not chronic empty units.
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