Real Estate Investing in Richmond, Virginia (23235)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23235 (Richmond, 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.
No major risk flags on the data we track.
What’s happening in Richmond, VA (23235)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23235 Richmond
Not every below-median market is a bargain. Richmond's 23235 ZIP registers signals that favor experienced operators who can absorb the risk $422K pricing implies.
The 23235 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Statewide comparisons place 23235 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 23235 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategy in 23235 is an operator game, not a passive one. Stepping back, entry prices of $422K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Richmond:
Property Strategy for 23235
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $281,162 | $1,910 | 4.9% | +7.9% | $140,581 |
| 3BR | $360,756 | $2,390 | 4.8% | +7.8% | $120,252 |
| 4BR | $434,630 | $2,950 | 4.9% | +7.8% | $108,657 |
| 5BR | $545,461 | — | — | +7.9% | $109,092 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23235 Compare?
| Metric | 23235 | Richmond | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $422,432 | $141,872 | N/A | $403,170 |
| 5-Year CAGR | 6.1% | 5.7% | N/A | 6.4% |
| Avg Rent | $1,879 | $1,732 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
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 23235 (Richmond, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $422,432 |
| Monthly Rent | $1,879 |
| Price-to-Rent | 18.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.5% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +6.8% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 Rent Trends
| 1-Year | +1.9% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.5%). 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 23235
Population: 33,207
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 23235
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Westover Hills Elementary
Richmond High School for the Arts
Chesterfield Virtual School
Elizabeth D. Redd Elementary
G.H. Reid 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 1,073 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the investability score for Richmond, VA?
Richmond, VA posts an investability rating of 3.0/5, with median home values near $422K and average rents around $1,879/mo. That combination puts it in the notable tier for investor interest.
What is the rental occupancy rate in Richmond, VA?
Richmond, VA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Which investment style suits Richmond, VA?
A careful cash-flow rentals with hands-on management strategy Richmond, VA best. The market produces reliable results for that approach at the $422K price point.
Are eviction rules reasonable in Richmond, VA?
For rental operators, Richmond, VA rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
How strong is tenant demand in Richmond, VA?
Richmond, VA draws a predictable base of working renters. Demand at the $1,879/mo rent level is reasonable for standard single-family and small multi rentals.
You know 23235 now. You don’t know where it ranks.
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How 23235 ranks in Richmond, VA
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