Real Estate Investing in Parksley, Virginia (23421)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23421 (Parksley, 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: 17.4% 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 Parksley, VA (23421)?
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Market Analysis: 23421 Parksley
The 23421 ZIP in Parksley, VA is a local-operator market. Outside capital chasing a $214K entry has to pair deep knowledge with the discount.
The 23421 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
The gap between 23421 and stronger Parksley ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The 23421 ZIP's population of 3,917 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
The 23421 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Parksley:
Market Trends
Home Value History (with trend line)
📊 How Does 23421 Compare?
| Metric | 23421 | Parksley | Virginia |
|---|---|---|---|
| Home Value | $214,327 | $214,327 | $403,170 |
| 5-Year CAGR | 3.0% | 3.0% | 6.4% |
| Avg Rent | $873 | $873 | - |
| Cap Rate | 3.2% | 3.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23421 (Parksley, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $214,327 |
| Monthly Rent | $873 |
| Price-to-Rent | 20.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 6.2% |
📈 Home Appreciation
| 1-Year | +3.5% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +3.0% ▲ |
| 10-Year CAGR | +4.8% ▲ |
🏠 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 (3.2%). 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 23421
Population: 3,917
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 23421
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
What monthly rent should investors expect in Parksley, VA?
Rental rates in Parksley, VA average $873/mo. Tenant demand and $214K home values make the yield look reasonable by investor standards.
What is the typical home price in Parksley, VA?
In Parksley, VA the median home value sits at $214K. Against the broader VA market, that reads as reasonable for most investors.
How tight is the rental market in Parksley, VA?
Vacancy risk in Parksley, VA is elevated. That supports steady cash flow for typical rental holds.
What investment strategy works best in Parksley, VA?
Most investors in Parksley, 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.
How does Parksley, VA rate as a rental market?
Parksley, VA rates 3.0/5 for investability. With median values at $214K and rents near $873/mo, the market offers reasonable fundamentals for rental investors.
You know 23421 now. You don’t know where it ranks.
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