Real Estate Investing in Mathews, Virginia (23109)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23109 (Mathews, 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.
- Elevated vacancy: 10.7% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 25.1 — 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 Mathews, VA (23109)?
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Market Analysis: 23109 Mathews
This part of Mathews County is not an easy win. The 23109 ZIP shows 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 $344K asset, 23109 is the wrong submarket. If the plan prices in friction, the yield can still work.
ZIP 23109's metrics run below Mathews County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Resident income in 23109 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Distressed ZIPs reward experience. notable returns are possible in 23109, 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 Mathews:
Market Trends
Home Value History (with trend line)
📊 How Does 23109 Compare?
| Metric | 23109 | Mathews | Virginia |
|---|---|---|---|
| Home Value | $344,465 | $344,465 | $403,170 |
| 5-Year CAGR | 3.8% | 3.8% | 6.4% |
| Avg Rent | $1,143 | $1,143 | - |
| Cap Rate | 2.6% | 2.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23109 (Mathews, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $344,465 |
| Monthly Rent | $1,143 |
| Price-to-Rent | 25.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 6.4% |
📈 Home Appreciation
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +3.9% ▲ |
🏠 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 (2.6%). 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 23109
Population: 2,525
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 23109
Schools in This ZIP Code
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.
Frequently Asked Questions
Is housing expensive in Mathews, VA?
Typical homes in Mathews, VA go for around $344K. The 5-year CAGR of 0.0% reliable price movement.
Is it easy to find good tenants in Mathews, VA?
Tenant quality in Mathews, VA ranks as solid. Landlords generally report steady occupancy at market rents of $1,143/mo.
Do landlords face vacancy issues in Mathews, VA?
Mathews, VA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Can owner-occupants cash flow in Mathews, VA?
The house hack math a challenging in Mathews, VA. Owner-occupant buyers benefit from the $1,143/mo rents and $344K home values.
How strict are landlord regulations in Mathews, VA?
For rental operators, Mathews, VA rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
You know 23109 now. You don’t know where it ranks.
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How 23109 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
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