Real Estate Investing in Buchanan, Virginia (24066)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24066 (Buchanan, VA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 22.3% 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 Buchanan, VA (24066)?
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Market Analysis: 24066 Buchanan
Investors eyeing 24066 need to respect the fundamentals at play. Home values of $228K come alongside slower price movement and elevated management overhead.
The investment case in 24066 is impressive only for operators who understand what they are buying. A $228K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within VA, ZIP 24066 trails on several market indicators that neighboring Botetourt County submarkets outperform. The gap is real and impressive enough to shape underwriting.
Who lives in 24066 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 24066 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Buchanan:
Property Strategy for 24066
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $191,326 | $1,310 | 4.9% | +6.0% | $95,663 |
| 3BR | $280,457 | $1,830 | 4.7% | +6.5% | $93,486 |
| 4BR | $365,029 | $2,210 | 4.4% | +5.9% | $91,257 |
Market Trends
Home Value History (with trend line)
📊 How Does 24066 Compare?
| Metric | 24066 | Buchanan | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $228,197 | $228,197 | N/A | $403,170 |
| 5-Year CAGR | 3.8% | 3.8% | N/A | 6.4% |
| Avg Rent | $1,179 | $1,179 | N/A | - |
| Cap Rate | 4.0% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24066 (Buchanan, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $228,197 |
| Monthly Rent | $1,179 |
| Price-to-Rent | 16.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.0% |
| 5-Year IRR | 7.8% |
📈 Home Appreciation
| 1-Year | +9.4% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +4.8% ▲ |
🏠 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 (4.0%). 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 24066
Population: 5,234
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 24066
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.
Frequently Asked Questions
What is the average home sale price in Buchanan, VA?
Expect median prices around $228K in Buchanan, VA. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
What is the tenant pool like in Buchanan, VA?
The tenant pool in Buchanan, VA is solid, supported by local employment and population fundamentals. Rents of $1,179/mo are well-absorbed by the market.
How do experienced investors play Buchanan, VA?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Buchanan, VA. The numbers - $228K homes against $1,179/mo rents - support that play.
Does house hacking work in Buchanan, VA?
House hacking in Buchanan, VA is reasonable to execute. Prices around $228K and rents of $1,179/mo solid owner-occupant economics.
Is vacancy a concern in Buchanan, VA?
Rental vacancy in Buchanan, VA is elevated. Investors should budget normal turnover but not chronic empty units.
You know 24066 now. You don’t know where it ranks.
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