Real Estate Investing in Waverly, Virginia (23890)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23890 (Waverly, 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.
- High vacancy: 19.6% 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 Waverly, VA (23890)?
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Market Analysis: 23890 Waverly
This part of Sussex County is not an easy win. The 23890 ZIP stands at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 23890 is sturdy only for operators who understand what they are buying. A $194K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 23890 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A sturdy renter share of 29% in 23890 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
New investors are better served looking at Waverly's stable or hybrid ZIPs before stepping into 23890. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Waverly:
Property Strategy for 23890
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $129,101 | $1,540 | 8.6% | +6.0% | $64,550 |
| 3BR | $195,985 | $1,950 | 7.2% | +7.7% | $65,328 |
| 4BR | $285,174 | $2,410 | 6.1% | +7.6% | $71,293 |
Market Trends
Home Value History (with trend line)
📊 How Does 23890 Compare?
| Metric | 23890 | Waverly | Richmond, VA | Virginia |
|---|---|---|---|---|
| Home Value | $193,930 | $96,965 | N/A | $403,170 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 6.4% |
| Avg Rent | $1,386 | $1,386 | N/A | - |
| Cap Rate | 5.6% | 5.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23890 (Waverly, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $193,930 |
| Monthly Rent | $1,386 |
| Price-to-Rent | 11.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.6% |
| Cap Rate | 5.6% |
| 5-Year IRR | 11.7% |
📈 Home Appreciation
| 1-Year | +2.7% ▲ |
| 3-Year CAGR | +0.1% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 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 (5.6%). 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 23890
Population: 4,600
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 price range are homes in Waverly, VA?
Median home price in Waverly, VA is near $194K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
What investment strategy works best in Waverly, VA?
Most investors in Waverly, VA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Is Waverly, VA a smart market for rental property?
With a 3.0/5 investability score, Waverly, VA ranks as a solid market for rental property investors. Median prices of $194K and rents of $1,386/mo drive the underlying numbers.
How viable is house hacking in Waverly, VA?
House hacking in Waverly, VA is a challenging. With home values around $194K and rents at $1,386/mo, owner-occupants can offset a meaningful share of PITI.
Is it easy to find good tenants in Waverly, VA?
Tenant demand in Waverly, VA is solid. The local workforce $1,386/mo rents across most rental classes.
You know 23890 now. You don’t know where it ranks.
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How 23890 ranks in Richmond, VA
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