Real Estate Investing in Elliston, Virginia (24087)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24087 (Elliston, 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: 13.0% of homes vacant — above national norms.
- Elevated poverty: 23.0% poverty rate — can affect rent collection.
- Higher unemployment: 7.9% unemployment — tenant risk signal.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Elliston, VA (24087)?
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Market Analysis: 24087 Elliston
The 24087 ZIP in Elliston, VA is a local-operator market. Outside capital chasing a $250K entry has to pair deep knowledge with the discount.
The 24087 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Meanwhile, 24087 offers a low basis, the region around Elliston has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A substantial renter share of 26% in 24087 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 24087 is an operator game, not a passive one. In practical terms, entry prices of $250K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Elliston:
Property Strategy for 24087
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $186,403 | $1,120 | 4.3% | +6.8% | $93,202 |
| 3BR | $250,984 | $1,510 | 4.3% | +6.6% | $83,661 |
Market Trends
Home Value History (with trend line)
📊 How Does 24087 Compare?
| Metric | 24087 | Elliston | Blacksburg-Christiansburg, VA | Virginia |
|---|---|---|---|---|
| Home Value | $250,064 | $250,064 | N/A | $403,170 |
| 5-Year CAGR | 5.5% | 5.5% | N/A | 6.4% |
| Avg Rent | $1,008 | $1,008 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24087 (Elliston, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $250,064 |
| Monthly Rent | $1,008 |
| Price-to-Rent | 20.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +8.2% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 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 (3.1%). 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 24087
Population: 3,948
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 24087
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 Elliston, VA rate as a rental market?
Elliston, VA rates 3.0/5 for investability. With median values at $250K and rents near $1,008/mo, the market offers reasonable fundamentals for rental investors.
How much does a house cost in Elliston, VA?
Homes in Elliston, VA typically sell near $250K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
Is vacancy a concern in Elliston, VA?
Rental vacancy in Elliston, VA is elevated. Investors should budget normal turnover but not chronic empty units.
What is the smart move for investors in Elliston, VA?
In Elliston, VA the notable play is typically careful cash-flow rentals with hands-on management. The combination of $250K prices and $1,008/mo rents suits that approach.
What do rentals go for in Elliston, VA?
Average rent in Elliston, VA is approximately $1,008/mo per month. Against $250K home values that yields a reasonable rent-to-price ratio.
You know 24087 now. You don’t know where it ranks.
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