Real Estate Investing in Red Oak, Virginia (23964)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23964 (Red Oak, VA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 23.7% of homes vacant — above national norms.
- Higher unemployment: 8.6% unemployment — tenant risk signal.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Red Oak, VA (23964)?
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Market Analysis: 23964 Red Oak
Investors eyeing 23964 need to respect the fundamentals at play. Home values of $193K come alongside slower price movement and elevated management overhead.
For an experienced owner, 23964 can be a an appealing option for hunting ground — but the discount at $193K reflects genuine risk that outside investors often underestimate.
In the broader VA picture, 23964 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Demographically, 23964 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
New investors are better served looking at Red Oak's stable or hybrid ZIPs before stepping into 23964. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Red Oak:
Market Trends
Home Value History (with trend line)
📊 How Does 23964 Compare?
| Metric | 23964 | Red Oak | Virginia |
|---|---|---|---|
| Home Value | $192,991 | $192,991 | $403,170 |
| 5-Year CAGR | N/A | N/A | 6.4% |
| Avg Rent | $819 | $819 | - |
| Cap Rate | 3.3% | 3.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23964 (Red Oak, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $192,991 |
| Monthly Rent | $819 |
| Price-to-Rent | 19.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +22.9% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 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 (3.3%). 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 23964
Population: 967
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 kind of market is Red Oak, VA for investors?
Investors tracking Red Oak, VA will find a 2.0/5 rating supported by $193K median home values and $819/mo rents. That profile suits long-term holders targeting measured returns.
Where do rents currently stand in Red Oak, VA?
Investors in Red Oak, VA typically see rents near $819/mo per month against $193K home values - a solid setup for rental cash flow.
What are vacancy rates like in Red Oak, VA?
Red Oak, VA sees elevated vacancy, which is reasonable relative to the broader VA rental market.
How much should I expect to pay for a home in Red Oak, VA?
Typical homes in Red Oak, VA go for around $193K. The 5-year CAGR of 0.0% steady price movement.
What does house hacking look like in Red Oak, VA?
For house hackers, Red Oak, VA is a challenging. The $819/mo rent on a unit helps defray the mortgage on a $193K property.
You know 23964 now. You don’t know where it ranks.
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