Real Estate Investing in Hopewell, Virginia (23860)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23860 (Hopewell, 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.
- Elevated vacancy: 9.5% vacancy may signal weakening demand.
What’s happening in Hopewell, VA (23860)?
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Market Analysis: 23860 Hopewell
Not every below-median market is a bargain. Hopewell's 23860 ZIP records signals that favor experienced operators who can absorb the risk $237K pricing implies.
For an experienced owner, 23860 can be a worth a close look for hunting ground — but the discount at $237K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Hopewell have seen price recovery that 23860 has not matched. Hopewell City data supports the view that the spread is structural rather than temporary.
The demographic picture in 23860 includes headwinds that any investor should price in. Income distribution skews lower than Hopewell averages, and tenant stability requires active management.
New investors are better served looking at Hopewell's stable or hybrid ZIPs before stepping into 23860. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Hopewell:
Property Strategy for 23860
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $163,144 | $1,540 | 6.8% | +13.6% | $81,572 |
| 3BR | $227,139 | $1,950 | 6.2% | +10.2% | $75,713 |
| 4BR | $311,919 | $2,410 | 5.6% | +8.7% | $77,980 |
| 5BR | $396,170 | — | — | +8.1% | $79,234 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23860 Compare?
| Metric | 23860 | Hopewell | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $236,854 | $236,854 | N/A | $403,170 |
| 5-Year CAGR | 7.0% | 7.0% | N/A | 6.4% |
| Avg Rent | $1,260 | $1,260 | N/A | - |
| Cap Rate | 4.2% | 4.2% | - | - |
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 23860 (Hopewell, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $236,854 |
| Monthly Rent | $1,260 |
| Price-to-Rent | 15.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.2% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +3.7% ▲ |
| 3-Year CAGR | +0.4% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 Rent Trends
| 1-Year | +4.7% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.2%). 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 23860
Population: 31,432
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 23860
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 1,301 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Hopewell in VA worth investing in?
Investors tracking Hopewell, VA will find a 3.0/5 rating supported by $237K median home values and $1,260/mo rents. That profile suits long-term holders targeting steady returns.
Is vacancy a concern in Hopewell, VA?
Expect elevated vacancy in Hopewell, VA. Rents at $1,260/mo are absorbed by the tenant base without meaningful lag.
Which investment style suits Hopewell, VA?
Investors usually favor careful cash-flow rentals with hands-on management in Hopewell, VA. With home values at $237K and rents near $1,260/mo, other strategies can work but produce stable rather than outsized returns.
Is Hopewell, VA a friendly market for rental owners?
Hopewell, VA falls under VA landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
What do landlords charge for rent in Hopewell, VA?
Expect rents around $1,260/mo per month in Hopewell, VA. With home values at $237K, the yield math works out to reasonable levels for rental investors.
You know 23860 now. You don’t know where it ranks.
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How 23860 ranks in Richmond, VA
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