Real Estate Investing in Bumpass, Virginia (23024)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23024 (Bumpass, 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: 20.7% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 34.0 — 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 Bumpass, VA (23024)?
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Market Analysis: 23024 Bumpass
ZIP 23024 in Bumpass, VA carries a healthy set of headwinds. Home values near $456K and rents of $1,116/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $456K asset, 23024 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 23024 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 23024 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategically, 23024 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Bumpass:
Property Strategy for 23024
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $292,792 | $1,240 | 3.0% | +8.0% | $146,396 |
| 3BR | $397,728 | $1,690 | 3.1% | +7.6% | $132,576 |
| 4BR | $643,163 | $1,920 | 2.1% | +8.2% | $160,791 |
| 5BR | $1,283,257 | — | — | +12.3% | $256,651 |
Market Trends
Home Value History (with trend line)
📊 How Does 23024 Compare?
| Metric | 23024 | Bumpass | Virginia |
|---|---|---|---|
| Home Value | $455,738 | $455,738 | $403,170 |
| 5-Year CAGR | 5.7% | 5.7% | 6.4% |
| Avg Rent | $1,116 | $1,116 | - |
| Cap Rate | 1.9% | 1.9% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23024 (Bumpass, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $455,738 |
| Monthly Rent | $1,116 |
| Price-to-Rent | 34.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 7.7% |
📈 Home Appreciation
| 1-Year | +6.3% ▲ |
| 3-Year CAGR | +5.2% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 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 (1.9%). 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 23024
Population: 10,770
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
Frequently Asked Questions
What is the smart move for investors in Bumpass, VA?
Most investors in Bumpass, VA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Do rentals sit vacant long in Bumpass, VA?
Expect elevated vacancy in Bumpass, VA. Rents at $1,116/mo are absorbed by the tenant base without meaningful lag.
How strong are rents in Bumpass, VA?
The typical rental in Bumpass, VA commands about $1,116/mo monthly. That rent profile steady cash flow against the $456K purchase basis.
Is Bumpass, VA a good market for FHA house hackers?
Bumpass, VA offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,116/mo rent level.
Are eviction rules reasonable in Bumpass, VA?
Bumpass, VA falls under VA landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
You know 23024 now. You don’t know where it ranks.
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How 23024 ranks in Washington-Arlington-Alexandria, DC-VA-MD-WV
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