Real Estate Investing in Gloucester Point, Virginia (23062)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23062 (Gloucester Point, 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: 23.4% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 26.5 — 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 Gloucester Point, VA (23062)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23062 Gloucester Point
This part of Gloucester County is not an easy win. The 23062 ZIP stands at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $361K asset, 23062 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within VA, ZIP 23062 trails on several market indicators that neighboring Gloucester County submarkets outperform. The gap is real and healthy enough to shape underwriting.
Who lives in 23062 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Gloucester Point:
Property Strategy for 23062
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $250,356 | $1,260 | 3.6% | +4.6% | $125,178 |
| 3BR | $341,923 | $1,750 | 3.7% | +6.5% | $113,974 |
| 4BR | $433,136 | $2,060 | 3.4% | +5.5% | $108,284 |
Market Trends
Home Value History (with trend line)
📊 How Does 23062 Compare?
| Metric | 23062 | Gloucester Point | Virginia |
|---|---|---|---|
| Home Value | $360,937 | $360,937 | $403,170 |
| 5-Year CAGR | 5.3% | 5.3% | 6.4% |
| Avg Rent | $1,134 | $1,134 | - |
| Cap Rate | 2.5% | 2.5% | - |
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 23062 (Gloucester Point, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $360,937 |
| Monthly Rent | $1,134 |
| Price-to-Rent | 26.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 7.8% |
📈 Home Appreciation
| 1-Year | +5.8% ▲ |
| 3-Year CAGR | +4.2% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +5.1% ▲ |
🏠 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 (2.5%). 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 23062
Population: 1,862
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 23062
Nearby Schools (2 more)
Schools in adjacent ZIP codes that may serve this area
Abingdon Elementary
Achilles 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 1,158 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is house hacking profitable in Gloucester Point, VA?
House hacking in Gloucester Point, VA is a challenging. With home values around $361K and rents at $1,134/mo, owner-occupants can offset a meaningful share of PITI.
Are landlord laws favorable in Gloucester Point, VA?
VA ranks as a landlord-friendly state for landlord-tenant law. Gloucester Point generally follows the statewide framework, so landlords face reasonable operating rules.
Do landlords face vacancy issues in Gloucester Point, VA?
Vacancy in Gloucester Point, VA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,134/mo.
Are rents high in Gloucester Point, VA?
The typical rental in Gloucester Point, VA commands about $1,134/mo monthly. That rent profile stable cash flow against the $361K purchase basis.
What is the renter demographic in Gloucester Point, VA?
The tenant pool in Gloucester Point, VA is solid, supported by local employment and population fundamentals. Rents of $1,134/mo are well-absorbed by the market.
You know 23062 now. You don’t know where it ranks.
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How 23062 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
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