Real Estate Investing in Cape Charles, Virginia (23310)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23310 (Cape Charles, 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: 32.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 39.8 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Cape Charles, VA (23310)?
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Market Analysis: 23310 Cape Charles
Looking more closely, ZIP 23310 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $413K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $413K asset, 23310 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 23310 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 23310 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.
Strategically, 23310 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Cape Charles:
Property Strategy for 23310
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $403,173 | $1,340 | 2.4% | +12.0% | $134,391 |
| 4BR | $666,059 | $1,610 | 1.7% | +12.7% | $166,515 |
Market Trends
Home Value History (with trend line)
📊 How Does 23310 Compare?
| Metric | 23310 | Cape Charles | Virginia |
|---|---|---|---|
| Home Value | $412,978 | $412,978 | $403,170 |
| 5-Year CAGR | 7.4% | 7.4% | 6.4% |
| Avg Rent | $864 | $864 | - |
| Cap Rate | 1.6% | 1.6% | - |
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 23310 (Cape Charles, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $412,978 |
| Monthly Rent | $864 |
| Price-to-Rent | 39.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.5% |
| Cap Rate | 1.6% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +5.8% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 10-Year CAGR | +8.6% ▲ |
🏠 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 (1.6%). 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 23310
Population: 4,934
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 23310
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.
Frequently Asked Questions
Is Cape Charles, VA a smart market for rental property?
Yes - Cape Charles, VA a 3.0/5 investability score. With $413K home prices against $864/mo monthly rent, the market delivers a reasonable entry point for new investors.
What do landlords charge for rent in Cape Charles, VA?
Investors in Cape Charles, VA typically see rents near $864/mo per month against $413K home values - a solid setup for rental cash flow.
What kind of tenants rent in Cape Charles, VA?
Tenant demand in Cape Charles, VA is solid. The local workforce $864/mo rents across most rental classes.
What price range are homes in Cape Charles, VA?
Homes in Cape Charles, VA typically sell near $413K. Prices have moved at a 0.0% 5-year CAGR, which consistent long-term demand.
Are there empty rentals in Cape Charles, VA?
Cape Charles, VA carries elevated vacancy risk. Expect reliable absorption at market rents of $864/mo.
You know 23310 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23310 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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Community Ratings
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