Real Estate Investing in Roanoke, Virginia (24012)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24012 (Roanoke, 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.
- Elevated vacancy: 9.6% vacancy may signal weakening demand.
What’s happening in Roanoke, VA (24012)?
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Market Analysis: 24012 Roanoke
Investors eyeing 24012 need to respect the fundamentals at play. Home values of $235K come alongside slower price movement and elevated management overhead.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $235K asset, 24012 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader VA picture, 24012 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 24012 ZIP's population of 28,734 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that sits at the need for careful underwriting.
The 24012 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Roanoke:
Property Strategy for 24012
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $171,429 | $1,250 | 5.2% | +10.4% | $85,714 |
| 3BR | $229,547 | $1,740 | 5.5% | +8.8% | $76,516 |
| 4BR | $308,898 | $2,100 | 4.9% | +7.9% | $77,225 |
| 5BR | $354,352 | — | — | +7.4% | $70,870 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 24012 Compare?
| Metric | 24012 | Roanoke | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $235,104 | $52,650 | N/A | $403,170 |
| 5-Year CAGR | 7.1% | 7.1% | N/A | 6.4% |
| Avg Rent | $1,472 | $1,398 | N/A | - |
| Cap Rate | 4.9% | 4.6% | - | - |
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 24012 (Roanoke, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $235,104 |
| Monthly Rent | $1,472 |
| Price-to-Rent | 13.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.5% |
| Cap Rate | 4.9% |
| 5-Year IRR | 11.9% |
📈 Home Appreciation
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +5.0% ▲ |
| 5-Year CAGR | +7.1% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | +15.7% ▲ |
| 3-Year CAGR | +9.9% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.9%). 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 24012
Population: 28,734
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 24012
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 709 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What do rentals go for in Roanoke, VA?
Rental rates in Roanoke, VA average $1,472/mo. Tenant demand and $235K home values make the yield look reasonable by investor standards.
What real estate strategy is ideal for Roanoke, VA?
Roanoke, VA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($235K prices, $1,472/mo rents) make it a reasonable choice.
How does Roanoke, VA rate as a rental market?
Roanoke, VA rates 3.0/5 for investability. With median values at $235K and rents near $1,472/mo, the market offers reasonable fundamentals for rental investors.
What is the typical vacancy rate in Roanoke, VA?
Occupancy in Roanoke, VA runs consistent with elevated vacancy. Well-priced units at $1,472/mo lease on reasonable timelines.
How do home values compare in Roanoke, VA?
Homes in Roanoke, VA typically sell near $235K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
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How 24012 ranks in Roanoke, VA
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