Real Estate Investing in Fincastle, Virginia (24090)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24090 (Fincastle, 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.
- Elevated vacancy: 10.9% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 25.1 — 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 Fincastle, VA (24090)?
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Market Analysis: 24090 Fincastle
This part of Botetourt County is not an easy win. The 24090 ZIP reports softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $342K asset, 24090 is the wrong submarket. If the plan prices in friction, the yield can still work.
Nearby ZIPs in Fincastle have seen price recovery that 24090 has not matched. Botetourt County data supports the view that the spread is structural rather than temporary.
The demographic picture in 24090 includes headwinds that any investor should price in. Income distribution skews lower than Fincastle averages, and tenant stability requires active management.
The right play in 24090 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 Fincastle:
Property Strategy for 24090
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $227,323 | $1,260 | 4.0% | +5.9% | $113,662 |
| 3BR | $362,690 | $1,750 | 3.5% | +5.8% | $120,897 |
| 4BR | $529,270 | $2,110 | 2.9% | +5.5% | $132,317 |
Market Trends
Home Value History (with trend line)
📊 How Does 24090 Compare?
| Metric | 24090 | Fincastle | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $342,144 | $342,144 | N/A | $403,170 |
| 5-Year CAGR | 4.2% | 4.2% | N/A | 6.4% |
| Avg Rent | $1,134 | $1,134 | N/A | - |
| Cap Rate | 2.6% | 2.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24090 (Fincastle, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $342,144 |
| Monthly Rent | $1,134 |
| Price-to-Rent | 25.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 6.8% |
📈 Home Appreciation
| 1-Year | +9.1% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | +4.2% ▲ |
| 10-Year CAGR | +5.2% ▲ |
🏠 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 (2.6%). 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 24090
Population: 4,612
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 24090
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 tight is the rental market in Fincastle, VA?
Vacancy risk in Fincastle, VA is elevated. That supports predictable cash flow for typical rental holds.
What is the renter demographic in Fincastle, VA?
Tenant quality in Fincastle, VA ranks as solid. Landlords generally report reliable occupancy at market rents of $1,134/mo.
What is the typical rental rate in Fincastle, VA?
Investors in Fincastle, VA typically see rents near $1,134/mo per month against $342K home values - a solid setup for rental cash flow.
How viable is house hacking in Fincastle, VA?
House hacking in Fincastle, VA is a challenging. With home values around $342K and rents at $1,134/mo, owner-occupants can offset a meaningful share of PITI.
What is the investability score for Fincastle, VA?
Yes - Fincastle, VA a 3.0/5 investability score. With $342K home prices against $1,134/mo monthly rent, the market delivers a reasonable entry point for new investors.
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How 24090 ranks in Roanoke, VA
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