Real Estate Investing in Smithfield, Virginia (23430)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23430 (Smithfield, VA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
No major risk flags on the data we track.
What’s happening in Smithfield, VA (23430)?
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Market Analysis: 23430 Smithfield
The 23430 ZIP in Smithfield, VA is a local-operator market. Outside capital chasing a $411K entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 23430 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Smithfield have seen price recovery that 23430 has not matched. Isle of Wight County data supports the view that the spread is structural rather than temporary.
Resident income in 23430 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 23430 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 Smithfield:
Property Strategy for 23430
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $276,486 | $1,490 | 3.9% | +5.8% | $138,243 |
| 3BR | $361,332 | $2,060 | 4.1% | +6.5% | $120,444 |
| 4BR | $510,783 | $2,430 | 3.4% | +7.0% | $127,696 |
| 5BR | $617,210 | — | — | +6.8% | $123,442 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23430 Compare?
| Metric | 23430 | Smithfield | Virginia |
|---|---|---|---|
| Home Value | $411,274 | $411,274 | $403,170 |
| 5-Year CAGR | 3.7% | 3.7% | 6.4% |
| Avg Rent | $2,498 | $2,498 | - |
| Cap Rate | 4.7% | 4.7% | - |
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 23430 (Smithfield, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $411,274 |
| Monthly Rent | $2,498 |
| Price-to-Rent | 13.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.3% |
| Cap Rate | 4.7% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +6.0% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +4.3% ▲ |
🏠 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 (4.7%). 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 23430
Population: 19,057
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 23430
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
Investor Insight: With 1,158 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors worry about vacancy in Smithfield, VA?
Smithfield, VA sees elevated vacancy, which is reasonable relative to the broader VA rental market.
What is the best play in Smithfield, VA?
For Smithfield, VA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Is Smithfield, VA good for landlords?
For rental operators, Smithfield, VA rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Is Smithfield, VA good for house hacking?
House hacking in Smithfield, VA is a challenging. With home values around $411K and rents at $2,498/mo, owner-occupants can offset a meaningful share of PITI.
Where do home prices stand in Smithfield, VA?
Smithfield, VA home values average about $411K. That price point suits investors targeting rentals with $2,498/mo in monthly income.
You know 23430 now. You don’t know where it ranks.
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How 23430 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
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