Real Estate Investing in Bassett, Virginia (24055)
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Should you buy in 24055 (Bassett, 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: 20.5% of homes vacant — above national norms.
- Lower household income: $36,210 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Bassett, VA (24055)?
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Market Analysis: 24055 Bassett
On the rental side, ZIP 24055 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $134K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $134K asset, 24055 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader VA picture, 24055 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The demographic picture in 24055 includes headwinds that any investor should price in. Income distribution skews lower than Bassett averages, and tenant stability requires active management.
Distressed ZIPs reward experience. resilient returns are possible in 24055, 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 Bassett:
Property Strategy for 24055
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $127,758 | $910 | 5.1% | +13.8% | $63,879 |
| 3BR | $189,038 | $1,110 | 4.2% | +11.8% | $63,013 |
Market Trends
Home Value History (with trend line)
📊 How Does 24055 Compare?
| Metric | 24055 | Bassett | Martinsville, VA | Virginia |
|---|---|---|---|---|
| Home Value | $134,231 | $134,231 | N/A | $403,170 |
| 5-Year CAGR | 6.2% | 6.2% | N/A | 6.4% |
| Avg Rent | $819 | $819 | N/A | - |
| Cap Rate | 4.8% | 4.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24055 (Bassett, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $134,231 |
| Monthly Rent | $819 |
| Price-to-Rent | 13.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.3% |
| Cap Rate | 4.8% |
| 5-Year IRR | 11.0% |
📈 Home Appreciation
| 1-Year | +10.4% ▲ |
| 3-Year CAGR | +3.5% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 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 (4.8%). 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 24055
Population: 11,520
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 24055
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
Frequently Asked Questions
What is the investability score for Bassett, VA?
Bassett, VA rates 3.0/5 for investability. With median values at $134K and rents near $819/mo, the market offers reasonable fundamentals for rental investors.
Is the tenant base reliable in Bassett, VA?
Bassett, VA draws a measured base of working renters. Demand at the $819/mo rent level is reasonable for standard single-family and small multi rentals.
What is the average monthly rent in Bassett, VA?
Rental rates in Bassett, VA average $819/mo. Tenant demand and $134K home values make the yield look reasonable by investor standards.
How do landlord-tenant laws work in Bassett, VA?
Rental owners in Bassett, VA deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Should investors worry about vacancy in Bassett, VA?
Expect elevated vacancy in Bassett, VA. Rents at $819/mo are absorbed by the tenant base without meaningful lag.
You know 24055 now. You don’t know where it ranks.
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How 24055 ranks in Martinsville, VA
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