Real Estate Investing in Wake, Virginia (23176)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23176 (Wake, 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: 32.7% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Wake, VA (23176)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23176 Wake
Not every below-median market is a bargain. Wake's 23176 ZIP reports signals that favor experienced operators who can absorb the risk $360K pricing implies.
For an experienced owner, 23176 can be a a viable market for hunting ground — but the discount at $360K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Wake have seen price recovery that 23176 has not matched. Middlesex County data supports the view that the spread is structural rather than temporary.
Who lives in 23176 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
looks 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 Wake:
Market Trends
Home Value History (with trend line)
📊 How Does 23176 Compare?
| Metric | 23176 | Wake | Virginia |
|---|---|---|---|
| Home Value | $359,594 | $359,594 | $403,170 |
| 5-Year CAGR | 5.5% | 5.5% | 6.4% |
| Avg Rent | $1,233 | $1,233 | - |
| Cap Rate | 2.7% | 2.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23176 (Wake, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $359,594 |
| Monthly Rent | $1,233 |
| Price-to-Rent | 24.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +4.0% ▲ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 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 23176
Population: 608
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is Wake, VA good for house hacking?
Wake, VA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $360K price point reasonable to enter.
What kind of tenants rent in Wake, VA?
Tenant demand in Wake, VA is solid. The local workforce $1,233/mo rents across most rental classes.
What are rental rates like in Wake, VA?
Wake, VA rentals go for roughly $1,233/mo a month. That puts gross yield in solid territory relative to $360K acquisition costs.
Does Wake, VA favor landlords or tenants?
For rental operators, Wake, VA rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What real estate strategy is ideal for Wake, VA?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Wake, VA. The numbers - $360K homes against $1,233/mo rents - support that play.
You know 23176 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23176 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.
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