Real Estate Investing in Dewitt, Virginia (23840)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23840 (Dewitt, 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: 14.4% 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 Dewitt, VA (23840)?
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Market Analysis: 23840 Dewitt
The 23840 ZIP covers a section of Dewitt that demands careful diligence. Prices near $303K look accessible, but the work to make a deal cash flow is real.
For an experienced owner, 23840 can be a a viable market for hunting ground — but the discount at $303K reflects genuine risk that outside investors often underestimate.
Within VA, ZIP 23840 trails on several market indicators that neighboring Dinwiddie County submarkets outperform. The gap is real and substantial enough to shape underwriting.
Resident income in 23840 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 23840 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 Dewitt:
Property Strategy for 23840
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $277,937 | $2,020 | 5.2% | +8.6% | $92,646 |
| 4BR | $365,684 | $2,480 | 4.9% | — | $91,421 |
Market Trends
Home Value History (with trend line)
📊 How Does 23840 Compare?
| Metric | 23840 | Dewitt | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $303,361 | $303,361 | N/A | $403,170 |
| 5-Year CAGR | 7.3% | 7.3% | N/A | 6.4% |
| Avg Rent | $1,449 | $1,449 | N/A | - |
| Cap Rate | 3.7% | 3.7% | - | - |
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 23840 (Dewitt, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $303,361 |
| Monthly Rent | $1,449 |
| Price-to-Rent | 17.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 11.0% |
📈 Home Appreciation
| 1-Year | +9.0% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +7.3% ▲ |
| 10-Year CAGR | +8.5% ▲ |
🏠 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 (3.7%). 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 23840
Population: 1,593
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
Frequently Asked Questions
How tight is the rental market in Dewitt, VA?
Dewitt, VA carries elevated vacancy risk. Expect even-keeled absorption at market rents of $1,449/mo.
How strong are rents in Dewitt, VA?
Investors in Dewitt, VA typically see rents near $1,449/mo per month against $303K home values - a solid setup for rental cash flow.
What is the typical renter like in Dewitt, VA?
Tenant quality in Dewitt, VA ranks as solid. Landlords generally report consistent occupancy at market rents of $1,449/mo.
What is it like being a landlord in Dewitt, VA?
VA law landlord-friendly for landlords, and Dewitt inherits those rules. Investors should still review local ordinances for rental licensing.
Is Dewitt, VA a good market for buy-and-hold investors?
Our data puts Dewitt, VA at 3.0/5 for investability. Home prices of $303K and rents around $1,449/mo create a solid backdrop for investor activity.
You know 23840 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23840 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 23840 ranks in Richmond, VA
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Community Ratings
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