Real Estate Investing in Suffolk, Virginia (23438)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23438 (Suffolk, VA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Suffolk, VA (23438)?
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Market Analysis: 23438 Suffolk
The 23438 ZIP covers a section of Suffolk that demands careful diligence. Prices near $362K look accessible, but the work to make a deal cash flow is real.
On balance, the numbers look inviting — $362K purchase price, 0.0% nominal cap — the work to hit that pro forma in 23438 is substantial and deserves full respect.
Regionally, 23438 sits on the difficult end of the VA spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
A solid renter share of 11% in 23438 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 23438 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Suffolk:
Property Strategy for 23438
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $346,918 | $2,790 | 5.8% | +8.1% | $115,639 |
| 4BR | $470,719 | $3,320 | 5.1% | +8.1% | $117,680 |
Market Trends
Home Value History (with trend line)
📊 How Does 23438 Compare?
| Metric | 23438 | Suffolk | Virginia |
|---|---|---|---|
| Home Value | $361,712 | $438,534 | $403,170 |
| 5-Year CAGR | 6.1% | 5.5% | 6.4% |
| Avg Rent | $1,800 | $1,778 | - |
| Cap Rate | 3.9% | 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 23438 (Suffolk, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $361,712 |
| Monthly Rent | $1,800 |
| Price-to-Rent | 16.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.0% |
| Cap Rate | 3.9% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +8.3% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 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 (3.9%). 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 23438
Population: 1,620
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
Is real estate in Suffolk, VA a good investment right now?
Suffolk, VA rates 3.0/5 for investability. With median values at $362K and rents near $1,800/mo, the market offers reasonable fundamentals for rental investors.
What approach is best for Suffolk, VA real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Suffolk, VA. The numbers - $362K homes against $1,800/mo rents - support that play.
Is housing expensive in Suffolk, VA?
Suffolk, VA median home values land near $362K. That is reasonable territory for investors looking at $1,800/mo-per-month rentals.
How tight is the rental market in Suffolk, VA?
Vacancy risk in Suffolk, VA is elevated. That supports reliable cash flow for typical rental holds.
Does house hacking make sense in Suffolk, VA?
House hacking works a challenging in Suffolk, VA. Rents of $1,800/mo against $362K acquisition make the strategy solid for owner-occupants.
You know 23438 now. You don’t know where it ranks.
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How 23438 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
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