Real Estate Investing in Henrico, Virginia (23230)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23230 (Henrico, 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.
- Elevated vacancy: 8.5% vacancy may signal weakening demand.
What’s happening in Henrico, VA (23230)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23230 Henrico
ZIP 23230 inside Henrico County looks affordable on the surface — median value of $425K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 23230 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Henrico have seen price recovery that 23230 has not matched. Henrico County data supports the view that the spread is structural rather than temporary.
Put differently, 8,304 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
New investors are better served looking at Henrico's stable or hybrid ZIPs before stepping into 23230. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Henrico:
Property Strategy for 23230
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $202,214 | $1,670 | 5.9% | +5.9% | $202,214 |
| 2BR | $395,978 | $1,830 | 3.3% | +5.8% | $197,989 |
| 3BR | $433,215 | $2,290 | 3.8% | +7.5% | $144,405 |
| 4BR | $424,349 | $2,820 | 4.8% | +7.8% | $106,087 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23230 Compare?
| Metric | 23230 | Henrico | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $425,413 | $414,762 | N/A | $403,170 |
| 5-Year CAGR | 5.4% | 5.7% | N/A | 6.4% |
| Avg Rent | $1,822 | $1,742 | N/A | - |
| Cap Rate | 3.3% | 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 23230 (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 | $425,413 |
| Monthly Rent | $1,822 |
| Price-to-Rent | 19.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | +3.4% ▲ |
| 3-Year CAGR | +4.2% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | -4.5% ▼ |
| 3-Year CAGR | +0.3% ▲ |
| 5-Year CAGR | +3.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). 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 23230
Population: 8,304
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 23230
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Albert Hill Middle
Crestview Elementary
Lakeside Elementary
Dumbarton Elementary
Lois Harrison-Jones 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 2,282 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is housing expensive in Henrico, VA?
The median home value in Henrico, VA is roughly $425K. That puts it reasonable relative to the VA statewide average.
What is the tenant pool like in Henrico, VA?
The renter base in Henrico, VA is reasonable for the $1,822/mo price point. Screening well and pricing to market typically yields consistent tenants.
What are vacancy rates like in Henrico, VA?
Occupancy in Henrico, VA runs reliable with elevated vacancy. Well-priced units at $1,822/mo lease on reasonable timelines.
Is VA a landlord-friendly state?
Rental owners in Henrico, VA deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What real estate strategy is ideal for Henrico, VA?
Most investors in Henrico, VA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
You know 23230 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23230 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 23230 ranks in Richmond, VA
Every ZIP in this metro, ranked. Free.
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