Real Estate Investing in Hallwood, Virginia (23359)
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Should you buy in 23359 (Hallwood, VA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 15.5% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hallwood, VA (23359)?
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Market Analysis: 23359 Hallwood
This part of Accomack County is not an easy win. The 23359 ZIP comes in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 23359 sits at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
In practical terms, 23359 offers a low basis, the region around Hallwood has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 23359 ZIP's population of 920 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that posts the need for careful underwriting.
New investors are better served looking at Hallwood's stable or hybrid ZIPs before stepping into 23359. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Hallwood:
Market Trends
Home Value History (with trend line)
📊 How Does 23359 Compare?
| Metric | 23359 | Hallwood | Virginia |
|---|---|---|---|
| Home Value | $164,527 | $164,527 | $403,170 |
| 5-Year CAGR | N/A | N/A | 6.4% |
| Avg Rent | $864 | $864 | - |
| Cap Rate | 4.1% | 4.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23359 (Hallwood, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $164,527 |
| Monthly Rent | $864 |
| Price-to-Rent | 15.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 12.7% |
📈 Home Appreciation
| 1-Year | +8.6% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 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 (4.1%). 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 23359
Population: 920
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
Frequently Asked Questions
What price range are homes in Hallwood, VA?
The median home value in Hallwood, VA is roughly $165K. That puts it reasonable relative to the VA statewide average.
Are landlord laws favorable in Hallwood, VA?
Hallwood, VA operates under VA law, which is landlord-friendly overall for landlords. Expect predictable treatment in typical lease and eviction cases.
Do landlords face vacancy issues in Hallwood, VA?
Rental vacancy in Hallwood, VA is elevated. Investors should budget normal turnover but not chronic empty units.
Is Hallwood, VA good for house hacking?
The house hack math a challenging in Hallwood, VA. Owner-occupant buyers benefit from the $864/mo rents and $165K home values.
What real estate strategy is ideal for Hallwood, VA?
Hallwood, VA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($165K prices, $864/mo rents) make it a reasonable choice.
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