Real Estate Investing in Onancock, Virginia (23417)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23417 (Onancock, 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.
- High vacancy: 20.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 25.3 — 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 Onancock, VA (23417)?
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Market Analysis: 23417 Onancock
The 23417 ZIP covers a section of Onancock that demands careful diligence. Prices near $303K look accessible, but the work to make a deal cash flow is real.
For an experienced owner, 23417 can be a a strong candidate for hunting ground — but the discount at $303K reflects genuine risk that outside investors often underestimate.
The gap between 23417 and stronger Onancock ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 23417 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Onancock's stable or hybrid ZIPs before stepping into 23417. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Onancock:
Market Trends
Home Value History (with trend line)
📊 How Does 23417 Compare?
| Metric | 23417 | Onancock | Virginia |
|---|---|---|---|
| Home Value | $302,875 | $302,875 | $403,170 |
| 5-Year CAGR | 6.5% | 6.5% | 6.4% |
| Avg Rent | $999 | $999 | - |
| Cap Rate | 2.6% | 2.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23417 (Onancock, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $302,875 |
| Monthly Rent | $999 |
| Price-to-Rent | 25.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +6.9% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 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 (2.6%). 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 23417
Population: 3,862
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What price range are homes in Onancock, VA?
Homes in Onancock, VA typically sell near $303K. Prices have moved at a 0.0% 5-year CAGR, which reliable long-term demand.
Are eviction rules reasonable in Onancock, VA?
Onancock, VA operates under VA law, which is landlord-friendly overall for landlords. Expect measured treatment in typical lease and eviction cases.
How qualified is the tenant pool in Onancock, VA?
Onancock, VA draws a even-keeled base of working renters. Demand at the $999/mo rent level is reasonable for standard single-family and small multi rentals.
How strong is Onancock, VA for real estate investors?
Investors tracking Onancock, VA will find a 3.0/5 rating supported by $303K median home values and $999/mo rents. That profile suits long-term holders targeting predictable returns.
How should investors approach Onancock, VA?
Investors usually favor careful cash-flow rentals with hands-on management in Onancock, VA. With home values at $303K and rents near $999/mo, other strategies can work but produce consistent rather than outsized returns.
You know 23417 now. You don’t know where it ranks.
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