Real Estate Investing in Melfa, Virginia (23410)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23410 (Melfa, 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: 14.1% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Melfa, VA (23410)?
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Market Analysis: 23410 Melfa
The 23410 ZIP covers a section of Melfa that demands careful diligence. Prices near $238K look accessible, but the work to make a deal cash flow is real.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $238K asset, 23410 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within VA, ZIP 23410 trails on several market indicators that neighboring Accomack County submarkets outperform. The gap is real and substantial enough to shape underwriting.
Looking more closely, 2,393 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.
The right play in 23410 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Melfa:
Market Trends
Home Value History (with trend line)
📊 How Does 23410 Compare?
| Metric | 23410 | Melfa | Virginia |
|---|---|---|---|
| Home Value | $238,157 | $248,597 | $403,170 |
| 5-Year CAGR | 3.7% | 4.6% | 6.4% |
| Avg Rent | $999 | $954 | - |
| Cap Rate | 3.3% | 3.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23410 (Melfa, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $238,157 |
| Monthly Rent | $999 |
| Price-to-Rent | 19.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.3% |
| 5-Year IRR | 7.0% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +1.3% ▲ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +5.0% ▲ |
🏠 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 (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 23410
Population: 2,393
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 23410
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.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Should investors worry about vacancy in Melfa, VA?
Vacancy risk in Melfa, VA is elevated. That supports stable cash flow for typical rental holds.
What type of investing works in Melfa, VA?
Most investors in Melfa, 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.
Where do rents currently stand in Melfa, VA?
Expect rents around $999/mo per month in Melfa, VA. With home values at $238K, the yield math works out to reasonable levels for rental investors.
How viable is house hacking in Melfa, VA?
Melfa, VA offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $999/mo rent level.
What is the investability score for Melfa, VA?
The 3.0/5 investability rating in Melfa, VA reflects its $238K prices and $999/mo rents. Investors generally consider it a solid option within VA.
You know 23410 now. You don’t know where it ranks.
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