Real Estate Investing in Chester Gap, Virginia (22623)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 22623 (Chester Gap, VA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• 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 Chester Gap, VA (22623)?
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Market Analysis: 22623 Chester Gap
ZIP 22623 in Chester Gap, VA carries a resilient set of headwinds. Home values near $346K and rents of $1,188/mo sit inside a market where underwriting has to be tight.
Rent of $1,188/mo on a $346K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 22623 sits below the stated 0.0% once reality is priced in.
Within VA, ZIP 22623 trails on several market indicators that neighboring Rappahannock County submarkets outperform. The gap is real and solid enough to shape underwriting.
The 22623 ZIP's population of 859 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that records the need for careful underwriting.
Distressed ZIPs reward experience. substantial returns are possible in 22623, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Chester Gap:
Market Trends
Home Value History (with trend line)
📊 How Does 22623 Compare?
| Metric | 22623 | Chester Gap | Virginia |
|---|---|---|---|
| Home Value | $345,618 | $345,618 | $403,170 |
| 5-Year CAGR | 6.8% | 6.8% | 6.4% |
| Avg Rent | $1,188 | $1,188 | - |
| Cap Rate | 2.7% | 2.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 22623 (Chester Gap, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $345,618 |
| Monthly Rent | $1,188 |
| Price-to-Rent | 24.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +7.4% ▲ |
| 3-Year CAGR | +6.8% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 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 (2.7%). 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 22623
Population: 859
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
Investor Insight: With 593 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How strong is tenant demand in Chester Gap, VA?
Chester Gap, VA draws a stable base of working renters. Demand at the $1,188/mo rent level is reasonable for standard single-family and small multi rentals.
Is VA a landlord-friendly state?
The landlord environment in Chester Gap, VA is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What kind of vacancy should I budget for in Chester Gap, VA?
Occupancy in Chester Gap, VA runs consistent with elevated vacancy. Well-priced units at $1,188/mo lease on reasonable timelines.
What monthly rent should investors expect in Chester Gap, VA?
Average rent in Chester Gap, VA is approximately $1,188/mo per month. Against $346K home values that yields a reasonable rent-to-price ratio.
What is the median home value in Chester Gap, VA?
Typical homes in Chester Gap, VA go for around $346K. The 5-year CAGR of 0.0% consistent price movement.
You know 22623 now. You don’t know where it ranks.
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How 22623 ranks in Washington-Arlington-Alexandria, DC-VA-MD-WV
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