Real Estate Investing in Callaway, Virginia (24067)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24067 (Callaway, VA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 21.0% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 33.9 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Callaway, VA (24067)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 24067 Callaway
The 24067 ZIP covers a section of Callaway that demands careful diligence. Prices near $333K look accessible, but the work to make a deal cash flow is real.
For an experienced owner, 24067 can be a worth a close look for hunting ground — but the discount at $333K reflects genuine risk that outside investors often underestimate.
ZIP 24067's metrics run below Franklin County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 24067 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The 24067 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 Callaway:
Property Strategy for 24067
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $227,371 | $910 | 2.9% | +6.8% | $113,685 |
| 3BR | $302,571 | $1,280 | 3.0% | +7.9% | $100,857 |
Market Trends
Home Value History (with trend line)
📊 How Does 24067 Compare?
| Metric | 24067 | Callaway | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $332,766 | $332,766 | N/A | $403,170 |
| 5-Year CAGR | 6.5% | 6.5% | N/A | 6.4% |
| Avg Rent | $819 | $819 | N/A | - |
| Cap Rate | 1.9% | 1.9% | - | - |
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 24067 (Callaway, VA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 24067 (Callaway, VA)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $332,766 |
| Monthly Rent | $819 |
| Price-to-Rent | 33.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.0% |
| Cap Rate | 1.9% |
| 5-Year IRR | 8.5% |
📈 Home Appreciation
| 1-Year | +10.7% ▲ |
| 3-Year CAGR | +7.8% ▲ |
| 5-Year CAGR | +6.5% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 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 (1.9%). 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 24067
Population: 2,225
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 24067
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
How does Callaway, VA rate as a rental market?
The 3.0/5 investability rating in Callaway, VA reflects its $333K prices and $819/mo rents. Investors generally consider it a solid option within VA.
What kind of vacancy should I budget for in Callaway, VA?
Callaway, VA sees elevated vacancy, which is reasonable relative to the broader VA rental market.
What do landlords charge for rent in Callaway, VA?
Callaway, VA rentals go for roughly $819/mo a month. That puts gross yield in solid territory relative to $333K acquisition costs.
Are homes affordable in Callaway, VA?
The median home value in Callaway, VA is roughly $333K. That puts it reasonable relative to the VA statewide average.
How qualified is the tenant pool in Callaway, VA?
Tenant demand in Callaway, VA is solid. The local workforce $819/mo rents across most rental classes.
You know 24067 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 24067 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 24067 ranks in Roanoke, VA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 24067 (Callaway)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 24067 (Callaway, VA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.