Real Estate Investing in Eagle Rock, Virginia (24085)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24085 (Eagle Rock, VA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 20.2% of homes vacant — above national norms.
- Declining values: -0.3% 5-year CAGR — values have moved lower.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Eagle Rock, VA (24085)?
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Market Analysis: 24085 Eagle Rock
Turning to rents, ZIP 24085 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $139K median. It rewards specialists, not generalists.
The investment case in 24085 is healthy only for operators who understand what they are buying. A $139K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
The gap between 24085 and stronger Eagle Rock ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Who lives in 24085 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Experienced landlords with local relationships tend to find 24085 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Eagle Rock:
Property Strategy for 24085
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $174,070 | $1,080 | 4.5% | +5.4% | $87,035 |
| 3BR | $238,131 | $1,490 | 4.5% | +6.5% | $79,377 |
| 4BR | $299,223 | $1,740 | 4.2% | +5.4% | $74,806 |
Market Trends
Home Value History (with trend line)
📊 How Does 24085 Compare?
| Metric | 24085 | Eagle Rock | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $138,749 | $138,749 | N/A | $403,170 |
| 5-Year CAGR | N/A | N/A | N/A | 6.4% |
| Avg Rent | $972 | $972 | N/A | - |
| Cap Rate | 5.5% | 5.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24085 (Eagle Rock, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $138,749 |
| Monthly Rent | $972 |
| Price-to-Rent | 11.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.4% |
| Cap Rate | 5.5% |
| 5-Year IRR | 5.2% |
📈 Home Appreciation
| 1-Year | +12.8% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | -0.3% ▼ |
| 10-Year CAGR | +2.4% ▲ |
🏠 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 (5.5%). 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 24085
Population: 2,425
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 24085
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 does house hacking look like in Eagle Rock, VA?
Eagle Rock, VA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $139K price point reasonable to enter.
How strict are landlord regulations in Eagle Rock, VA?
VA ranks as a landlord-friendly state for landlord-tenant law. Eagle Rock generally follows the statewide framework, so landlords face reasonable operating rules.
Is the tenant base reliable in Eagle Rock, VA?
Eagle Rock, VA draws a reliable base of working renters. Demand at the $972/mo rent level is reasonable for standard single-family and small multi rentals.
Is Eagle Rock, VA a good place for real estate investing?
Eagle Rock, VA scores 3.0/5 for investability. Home values sit at $139K and rents near $972/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Are homes affordable in Eagle Rock, VA?
In Eagle Rock, VA the median home value sits at $139K. Against the broader VA market, that reads as reasonable for most investors.
You know 24085 now. You don’t know where it ranks.
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How 24085 ranks in Roanoke, VA
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