Real Estate Investing in Wakefield, Virginia (23888)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23888 (Wakefield, 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: 16.3% 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 Wakefield, VA (23888)?
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Market Analysis: 23888 Wakefield
The 23888 ZIP covers a section of Wakefield that demands careful diligence. Prices near $215K look accessible, but the work to make a deal cash flow is real.
Distressed markets are won on execution, not on spreadsheets. ZIP 23888 records the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
The gap between 23888 and stronger Wakefield ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The demographic picture in 23888 includes headwinds that any investor should price in. Income distribution skews lower than Wakefield averages, and tenant stability requires active management.
Distressed ZIPs reward experience. resilient returns are possible in 23888, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Wakefield:
Property Strategy for 23888
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $118,995 | $1,190 | 7.2% | +2.9% | $59,498 |
| 3BR | $204,198 | $1,520 | 5.4% | +6.3% | $68,066 |
| 4BR | $299,704 | $1,880 | 4.5% | +5.5% | $74,926 |
Market Trends
Home Value History (with trend line)
📊 How Does 23888 Compare?
| Metric | 23888 | Wakefield | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $215,329 | $215,329 | N/A | $403,170 |
| 5-Year CAGR | 6.4% | 6.4% | N/A | 6.4% |
| Avg Rent | $1,071 | $1,071 | N/A | - |
| Cap Rate | 3.9% | 3.9% | - | - |
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 23888 (Wakefield, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $215,329 |
| Monthly Rent | $1,071 |
| Price-to-Rent | 16.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.0% |
| Cap Rate | 3.9% |
| 5-Year IRR | 10.3% |
📈 Home Appreciation
| 1-Year | +8.3% ▲ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 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 23888
Population: 2,563
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
What is the average home sale price in Wakefield, VA?
Expect median prices around $215K in Wakefield, VA. The market has run at a 0.0% 5-year CAGR, so entry costs have been predictable.
Is Wakefield, VA landlord-friendly?
VA law landlord-friendly for landlords, and Wakefield inherits those rules. Investors should still review local ordinances for rental licensing.
What is the tenant pool like in Wakefield, VA?
Expect a solid tenant pool in Wakefield, VA. The rental market absorbs $1,071/mo rents without meaningful friction.
Does house hacking work in Wakefield, VA?
House hacking in Wakefield, VA is reasonable to execute. Prices around $215K and rents of $1,071/mo solid owner-occupant economics.
What real estate strategy is ideal for Wakefield, VA?
Wakefield, VA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($215K prices, $1,071/mo rents) make it a reasonable choice.
You know 23888 now. You don’t know where it ranks.
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How 23888 ranks in Richmond, VA
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