Real Estate Investing in Surry, Virginia (23883)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23883 (Surry, 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: 22.3% 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 Surry, VA (23883)?
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Market Analysis: 23883 Surry
The 23883 ZIP covers a section of Surry that demands careful diligence. Prices near $310K look accessible, but the work to make a deal cash flow is real.
For an experienced owner, 23883 can be a an appealing option for hunting ground — but the discount at $310K reflects genuine risk that outside investors often underestimate.
Regionally, 23883 sits on the difficult end of the VA spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
Who lives in 23883 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
New investors are better served looking at Surry's stable or hybrid ZIPs before stepping into 23883. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Surry:
Market Trends
Home Value History (with trend line)
📊 How Does 23883 Compare?
| Metric | 23883 | Surry | Virginia |
|---|---|---|---|
| Home Value | $309,801 | $309,801 | $403,170 |
| 5-Year CAGR | 3.3% | 3.3% | 6.4% |
| Avg Rent | $1,224 | $1,224 | - |
| Cap Rate | 3.1% | 3.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23883 (Surry, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $309,801 |
| Monthly Rent | $1,224 |
| Price-to-Rent | 21.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 6.4% |
📈 Home Appreciation
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | +3.3% ▲ |
| 10-Year CAGR | +5.0% ▲ |
🏠 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 (3.1%). 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 23883
Population: 1,869
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
Where do rents currently stand in Surry, VA?
Expect rents around $1,224/mo per month in Surry, VA. With home values at $310K, the yield math works out to reasonable levels for rental investors.
How deep is the rental pool in Surry, VA?
Surry, VA draws a reliable base of working renters. Demand at the $1,224/mo rent level is reasonable for standard single-family and small multi rentals.
How do home values compare in Surry, VA?
The median home value in Surry, VA is roughly $310K. That puts it reasonable relative to the VA statewide average.
How strict are landlord regulations in Surry, VA?
Surry, VA falls under VA landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
Is Surry, VA a good place for real estate investing?
With a 3.0/5 investability score, Surry, VA ranks as a solid market for rental property investors. Median prices of $310K and rents of $1,224/mo drive the underlying numbers.
You know 23883 now. You don’t know where it ranks.
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