Real Estate Investing in New Kent, Virginia (23124)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23124 (New Kent, VA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in New Kent, VA (23124)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23124 New Kent
ZIP 23124 in New Kent, VA carries a substantial set of headwinds. Home values near $447K and rents of $1,521/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 23124 can be a a solid fit for hunting ground — but the discount at $447K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 23124 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 23124 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, 23124 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 New Kent:
Property Strategy for 23124
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $401,367 | $1,690 | 3.0% | +6.3% | $200,683 |
| 3BR | $402,677 | $2,130 | 3.8% | +6.8% | $134,226 |
| 4BR | $474,418 | $2,620 | 4.0% | +6.4% | $118,605 |
Market Trends
Home Value History (with trend line)
📊 How Does 23124 Compare?
| Metric | 23124 | New Kent | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $447,325 | $447,325 | N/A | $403,170 |
| 5-Year CAGR | 5.1% | 5.1% | N/A | 6.4% |
| Avg Rent | $1,521 | $1,521 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
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 23124 (New Kent, VA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 23124 (New Kent, VA)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $447,325 |
| Monthly Rent | $1,521 |
| Price-to-Rent | 24.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 7.8% |
📈 Home Appreciation
| 1-Year | +5.5% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 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 (2.7%). 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 23124
Population: 4,913
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 23124
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 New Kent, VA a good place for real estate investing?
Yes - New Kent, VA a 3.0/5 investability score. With $447K home prices against $1,521/mo monthly rent, the market delivers a reasonable entry point for new investors.
What is the typical renter like in New Kent, VA?
New Kent, VA offers a steady renter base at the $1,521/mo rent level. Tenant turnover is reasonable for well-managed properties.
Should investors worry about vacancy in New Kent, VA?
Vacancy in New Kent, VA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,521/mo.
Does house hacking make sense in New Kent, VA?
House hacking works a challenging in New Kent, VA. Rents of $1,521/mo against $447K acquisition make the strategy solid for owner-occupants.
How much is rent in New Kent, VA?
New Kent, VA rentals go for roughly $1,521/mo a month. That puts gross yield in solid territory relative to $447K acquisition costs.
You know 23124 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23124 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 23124 ranks in Richmond, VA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 23124 (New Kent)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 23124 (New Kent, VA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.