Real Estate Investing in Henrico, Virginia (23227)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23227 (Henrico, 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: 10.4% vacancy may signal weakening demand.
What’s happening in Henrico, VA (23227)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23227 Henrico
Investors eyeing 23227 need to respect the fundamentals at play. Home values of $400K come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 23227 stands at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Turning to rents, 23227 offers a low basis, the region around Henrico has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A sturdy renter share of 47% in 23227 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 23227 is an operator game, not a passive one. In practical terms, entry prices of $400K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Henrico:
Property Strategy for 23227
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $343,597 | $1,540 | 3.2% | +7.0% | $171,799 |
| 3BR | $348,069 | $1,950 | 4.0% | +7.6% | $116,023 |
| 4BR | $453,298 | $2,410 | 3.8% | +6.7% | $113,324 |
| 5BR | $558,600 | — | — | +5.8% | $111,720 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23227 Compare?
| Metric | 23227 | Henrico | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $400,237 | $414,762 | N/A | $403,170 |
| 5-Year CAGR | 5.2% | 5.7% | N/A | 6.4% |
| Avg Rent | $1,568 | $1,742 | N/A | - |
| Cap Rate | 3.1% | 3.4% | - | - |
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 23227 (Henrico, VA). Anonymous, moderated, never written by AI.
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Property managers serving Henrico County
Manage rentals here? List your business →PMI Richmond offers residential and commercial property management services, including marketing, tenant screening, rent collection, maintenance, and accounting. summary from their website
Cobb & Co. Property Management provides property management services in Richmond, including marketing, resident screening, rent collection, maintenance, and accounting. summary from their website
Peak Property Management offers residential property management and lease-only services in Richmond and surrounding areas. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $400,237 |
| Monthly Rent | $1,568 |
| Price-to-Rent | 21.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 8.3% |
📈 Home Appreciation
| 1-Year | +4.2% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +5.2% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | +5.9% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 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 23227
Population: 25,574
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 23227
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
Investor Insight: With 2,282 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What approach is best for Henrico, VA real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Henrico, VA. The numbers - $400K homes against $1,568/mo rents - support that play.
What is the investability score for Henrico, VA?
Henrico, VA shows an investability rating of 3.0/5, with median home values near $400K and average rents around $1,568/mo. That combination puts it in the notable tier for investor interest.
Are tenants stable in Henrico, VA?
Henrico, VA draws a steady base of working renters. Demand at the $1,568/mo rent level is reasonable for standard single-family and small multi rentals.
Can owner-occupants cash flow in Henrico, VA?
Henrico, VA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $400K price point reasonable to enter.
Is Henrico, VA landlord-friendly?
VA law landlord-friendly for landlords, and Henrico inherits those rules. Investors should still review local ordinances for rental licensing.
You know 23227 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23227 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 23227 ranks in Richmond, VA
Every ZIP in this metro, ranked. Free.
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