Real Estate Investing in Saluda, Virginia (23149)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23149 (Saluda, 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.
- High vacancy: 21.2% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Saluda, VA (23149)?
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Market Analysis: 23149 Saluda
The 23149 ZIP in Saluda, VA is a local-operator market. Outside capital chasing a $331K entry has to pair deep knowledge with the discount.
Rent of $1,323/mo on a $331K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 23149 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 23149 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Who lives in 23149 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 23149 is an operator game, not a passive one. Turning to rents, entry prices of $331K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Saluda:
Property Strategy for 23149
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $237,872 | $1,470 | 4.4% | +7.7% | $118,936 |
| 3BR | $331,644 | $1,880 | 4.1% | +7.5% | $110,548 |
| 4BR | $456,745 | $2,330 | 3.7% | +7.7% | $114,186 |
Market Trends
Home Value History (with trend line)
📊 How Does 23149 Compare?
| Metric | 23149 | Saluda | Virginia |
|---|---|---|---|
| Home Value | $331,095 | $331,095 | $403,170 |
| 5-Year CAGR | 5.5% | 5.5% | 6.4% |
| Avg Rent | $1,323 | $1,323 | - |
| Cap Rate | 3.1% | 3.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23149 (Saluda, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $331,095 |
| Monthly Rent | $1,323 |
| Price-to-Rent | 20.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 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 (3.1%). 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 23149
Population: 2,535
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 23149
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.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Do rentals sit vacant long in Saluda, VA?
Rental vacancy in Saluda, VA is elevated. Investors should budget normal turnover but not chronic empty units.
Is house hacking profitable in Saluda, VA?
House hacking in Saluda, VA is reasonable to execute. Prices around $331K and rents of $1,323/mo solid owner-occupant economics.
Where do home prices stand in Saluda, VA?
Saluda, VA home values average about $331K. That price point suits investors targeting rentals with $1,323/mo in monthly income.
What do landlords charge for rent in Saluda, VA?
Rent in Saluda, VA is around $1,323/mo. The resulting rent-to-value relationship with $331K pricing is reasonable for most investor models.
How qualified is the tenant pool in Saluda, VA?
Expect a solid tenant pool in Saluda, VA. The rental market absorbs $1,323/mo rents without meaningful friction.
You know 23149 now. You don’t know where it ranks.
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How 23149 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
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