Real Estate Investing in Providence Forge, Virginia (23140)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23140 (Providence Forge, VA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
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 Providence Forge, VA (23140)?
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Market Analysis: 23140 Providence Forge
The 23140 ZIP covers a section of Providence Forge that demands careful diligence. Prices near $455K look accessible, but the work to make a deal cash flow is real.
Rent of $1,665/mo on a $455K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 23140 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 23140 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 23140 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 23140 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 Providence Forge:
Property Strategy for 23140
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $215,860 | $1,850 | 6.2% | +7.1% | $107,930 |
| 3BR | $360,131 | $2,320 | 4.6% | +6.7% | $120,044 |
| 4BR | $557,748 | $2,850 | 3.7% | +7.5% | $139,437 |
| 5BR | $630,769 | — | — | +6.9% | $126,154 |
Market Trends
Home Value History (with trend line)
📊 How Does 23140 Compare?
| Metric | 23140 | Providence Forge | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $455,036 | $455,036 | N/A | $403,170 |
| 5-Year CAGR | 5.3% | 5.3% | N/A | 6.4% |
| Avg Rent | $1,665 | $1,665 | N/A | - |
| Cap Rate | 2.9% | 2.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23140 (Providence Forge, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $455,036 |
| Monthly Rent | $1,665 |
| Price-to-Rent | 22.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +5.1% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 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 (2.9%). 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 23140
Population: 7,533
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
Do rentals sit vacant long in Providence Forge, VA?
Expect elevated vacancy in Providence Forge, VA. Rents at $1,665/mo are absorbed by the tenant base without meaningful lag.
Is Providence Forge in VA worth investing in?
Our data puts Providence Forge, VA at 3.0/5 for investability. Home prices of $455K and rents around $1,665/mo create a solid backdrop for investor activity.
Does house hacking make sense in Providence Forge, VA?
House hacking works a challenging in Providence Forge, VA. Rents of $1,665/mo against $455K acquisition make the strategy solid for owner-occupants.
Does Providence Forge, VA favor landlords or tenants?
Rental owners in Providence Forge, VA deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Are homes affordable in Providence Forge, VA?
Providence Forge, VA median home values land near $455K. That is reasonable territory for investors looking at $1,665/mo-per-month rentals.
You know 23140 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23140 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 23140 ranks in Richmond, VA
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