Real Estate Investing in Free Union, Virginia (22940)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 22940 (Free Union, VA)? 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: 34.5% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 29.9 — 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 Free Union, VA (22940)?
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Market Analysis: 22940 Free Union
The 22940 ZIP in Free Union, VA is a local-operator market. Outside capital chasing a $639K entry has to pair deep knowledge with the discount.
For an experienced owner, 22940 can be a worth a close look for hunting ground — but the discount at $639K reflects genuine risk that outside investors often underestimate.
In the broader VA picture, 22940 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 22940 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The 22940 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Free Union:
Market Trends
Home Value History (with trend line)
📊 How Does 22940 Compare?
| Metric | 22940 | Free Union | Charlottesville, VA | Virginia |
|---|---|---|---|---|
| Home Value | $638,871 | $638,871 | N/A | $403,170 |
| 5-Year CAGR | 5.0% | 5.0% | N/A | 6.4% |
| Avg Rent | $1,782 | $1,782 | N/A | - |
| Cap Rate | 2.2% | 2.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 22940 (Free Union, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $638,871 |
| Monthly Rent | $1,782 |
| Price-to-Rent | 29.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 7.2% |
📈 Home Appreciation
| 1-Year | +4.7% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 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 22940
Population: 935
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
Should investors worry about vacancy in Free Union, VA?
Vacancy in Free Union, VA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,782/mo.
How qualified is the tenant pool in Free Union, VA?
Expect a solid tenant pool in Free Union, VA. The rental market absorbs $1,782/mo rents without meaningful friction.
Is Free Union, VA a smart market for rental property?
With a 3.0/5 investability score, Free Union, VA ranks as a solid market for rental property investors. Median prices of $639K and rents of $1,782/mo drive the underlying numbers.
How much should I expect to pay for a home in Free Union, VA?
Expect median prices around $639K in Free Union, VA. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
How strong are rents in Free Union, VA?
The typical rental in Free Union, VA commands about $1,782/mo monthly. That rent profile consistent cash flow against the $639K purchase basis.
You know 22940 now. You don’t know where it ranks.
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How 22940 ranks in Charlottesville, VA
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