Real Estate Investing in Lakeside, Virginia (23228)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23228 (Lakeside, VA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
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.
What’s happening in Lakeside, VA (23228)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23228 Lakeside
The 23228 ZIP in Lakeside, VA is a local-operator market. Outside capital chasing a $335K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $335K asset, 23228 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within VA, ZIP 23228 trails on several market indicators that neighboring Henrico County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
Resident income in 23228 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
New investors are better served looking at Lakeside's stable or hybrid ZIPs before stepping into 23228. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Lakeside:
Property Strategy for 23228
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $253,558 | $1,820 | 5.2% | +9.5% | $126,779 |
| 3BR | $326,546 | $2,280 | 5.0% | +7.8% | $108,849 |
| 4BR | $392,355 | $2,810 | 5.2% | +7.5% | $98,089 |
| 5BR | $445,985 | — | — | +7.4% | $89,197 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23228 Compare?
| Metric | 23228 | Lakeside | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $334,697 | $334,697 | N/A | $403,170 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 6.4% |
| Avg Rent | $1,670 | $1,670 | N/A | - |
| Cap Rate | 3.9% | 3.9% | - | - |
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 23228 (Lakeside, 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 | $334,697 |
| Monthly Rent | $1,670 |
| Price-to-Rent | 16.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.0% |
| Cap Rate | 3.9% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 Rent Trends
| 1-Year | +2.9% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 5-Year CAGR | +3.7% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.9%). 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 23228
Population: 36,435
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 23228
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
John Marshall High
Thomas Jefferson High
Henderson Middle
Linwood Holton Elementary
Frances W. McClenney Elementary
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 1,209 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Does Lakeside, VA make sense for an investment property?
With a 3.0/5 investability score, Lakeside, VA ranks as a solid market for rental property investors. Median prices of $335K and rents of $1,670/mo drive the underlying numbers.
Do rentals sit vacant long in Lakeside, VA?
Rental vacancy in Lakeside, VA is elevated. Investors should budget normal turnover but not chronic empty units.
Are eviction rules reasonable in Lakeside, VA?
Lakeside, VA falls under VA landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
What approach is best for Lakeside, VA real estate?
The best-fit strategy in Lakeside, VA is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What do landlords charge for rent in Lakeside, VA?
Expect rents around $1,670/mo per month in Lakeside, VA. With home values at $335K, the yield math works out to reasonable levels for rental investors.
You know 23228 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23228 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 23228 ranks in Richmond, VA
Every ZIP in this metro, ranked. Free.
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