Real Estate Investing in Penn Laird, Virginia (22846)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 22846 (Penn Laird, VA)? 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.
- High price-to-rent: Price-to-rent ratio 29.0 — 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 Penn Laird, VA (22846)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 22846 Penn Laird
The 22846 ZIP in Penn Laird, VA is a local-operator market. Outside capital chasing a $488K entry has to pair deep knowledge with the discount.
Rent of $1,404/mo on a $488K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 22846 sits below the stated 0.0% once reality is priced in.
Within VA, ZIP 22846 trails on several market indicators that neighboring Rockingham County submarkets outperform. The gap is real and durable enough to shape underwriting.
On the rental side, 1,727 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.
Strategy in 22846 is an operator game, not a passive one. On balance, entry prices of $488K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Penn Laird:
Property Strategy for 22846
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $395,646 | $2,130 | 3.9% | +7.0% | $131,882 |
| 4BR | $527,630 | $2,530 | 3.5% | +7.3% | $131,908 |
Market Trends
Home Value History (with trend line)
📊 How Does 22846 Compare?
| Metric | 22846 | Penn Laird | Harrisonburg, VA | Virginia |
|---|---|---|---|---|
| Home Value | $487,868 | $487,868 | N/A | $403,170 |
| 5-Year CAGR | 5.6% | 5.6% | N/A | 6.4% |
| Avg Rent | $1,404 | $1,404 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
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 22846 (Penn Laird, VA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 22846 (Penn Laird, VA)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $487,868 |
| Monthly Rent | $1,404 |
| Price-to-Rent | 29.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.2% |
| 5-Year IRR | 7.8% |
📈 Home Appreciation
| 1-Year | +2.9% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 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 (2.2%). 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 22846
Population: 1,727
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 22846
Schools in This ZIP Code
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
McGaheysville Elementary
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 597 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical home price in Penn Laird, VA?
In Penn Laird, VA the median home value sits at $488K. Against the broader VA market, that reads as reasonable for most investors.
Are eviction rules reasonable in Penn Laird, VA?
For rental operators, Penn Laird, VA rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Is Penn Laird, VA good for house hacking?
House hacking in Penn Laird, VA is a challenging. With home values around $488K and rents at $1,404/mo, owner-occupants can offset a meaningful share of PITI.
How much rent can I charge in Penn Laird, VA?
Rents in Penn Laird, VA run near $1,404/mo. Compared with median home prices of $488K that produces solid gross yields for typical rentals.
Do rentals sit vacant long in Penn Laird, VA?
Rental vacancy in Penn Laird, VA is elevated. Investors should budget normal turnover but not chronic empty units.
You know 22846 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 22846 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 22846 ranks in Harrisonburg, VA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 22846 (Penn Laird)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 22846 (Penn Laird, VA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.