Real Estate Investing in Fieldale, Virginia (24089)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24089 (Fieldale, 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: 24.6% of homes vacant — above national norms.
- Elevated poverty: 28.3% poverty rate — can affect rent collection.
- Lower household income: $36,659 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 Fieldale, VA (24089)?
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Market Analysis: 24089 Fieldale
The 24089 ZIP covers a section of Fieldale that demands careful diligence. Prices near $112K look accessible, but the work to make a deal cash flow is real.
The investment case in 24089 is resilient only for operators who understand what they are buying. A $112K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Fieldale have seen price recovery that 24089 has not matched. Henry County data supports the view that the spread is structural rather than temporary.
The 24089 ZIP's population of 2,074 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
Strategically, 24089 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Fieldale:
Market Trends
Home Value History (with trend line)
📊 How Does 24089 Compare?
| Metric | 24089 | Fieldale | Martinsville, VA | Virginia |
|---|---|---|---|---|
| Home Value | $111,642 | $111,642 | N/A | $403,170 |
| 5-Year CAGR | 5.0% | 5.0% | N/A | 6.4% |
| Avg Rent | $819 | $819 | N/A | - |
| Cap Rate | 5.7% | 5.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24089 (Fieldale, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $111,642 |
| Monthly Rent | $819 |
| Price-to-Rent | 11.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.8% |
| Cap Rate | 5.7% |
| 5-Year IRR | 10.8% |
📈 Home Appreciation
| 1-Year | +7.0% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +2.9% ▲ |
🏠 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 (5.7%). 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 24089
Population: 2,074
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 24089
Nearby Schools (2 more)
Schools in adjacent ZIP codes that may serve this area
Fieldale-Collinsville Middle
Stanleytown Elementary
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 investment strategy works best in Fieldale, VA?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Fieldale, VA. The numbers - $112K homes against $819/mo rents - support that play.
Are renters plentiful in Fieldale, VA?
Tenant demand in Fieldale, VA is solid. The local workforce $819/mo rents across most rental classes.
Does house hacking work in Fieldale, VA?
The house hack math a challenging in Fieldale, VA. Owner-occupant buyers benefit from the $819/mo rents and $112K home values.
Should investors consider Fieldale, VA?
Investors tracking Fieldale, VA will find a 3.0/5 rating supported by $112K median home values and $819/mo rents. That profile suits long-term holders targeting consistent returns.
What is the median home value in Fieldale, VA?
The median home value in Fieldale, VA is roughly $112K. That puts it reasonable relative to the VA statewide average.
You know 24089 now. You don’t know where it ranks.
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How 24089 ranks in Martinsville, VA
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