Real Estate Investing in Hardy, Virginia (24101)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24101 (Hardy, 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: 17.1% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 34.1 — 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 Hardy, VA (24101)?
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Market Analysis: 24101 Hardy
Investors eyeing 24101 need to respect the fundamentals at play. Home values of $406K come alongside slower price movement and elevated management overhead.
The 24101 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
In the broader VA picture, 24101 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 24101 ZIP's population of 6,160 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that posts the need for careful underwriting.
Strategically, 24101 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 Hardy:
Property Strategy for 24101
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $329,608 | $1,100 | 2.4% | +9.1% | $164,804 |
| 3BR | $377,942 | $1,530 | 2.9% | +8.8% | $125,981 |
| 4BR | $446,130 | $1,820 | 2.9% | +8.4% | $111,532 |
Market Trends
Home Value History (with trend line)
📊 How Does 24101 Compare?
| Metric | 24101 | Hardy | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $405,627 | $405,627 | N/A | $403,170 |
| 5-Year CAGR | 7.0% | 7.0% | N/A | 6.4% |
| Avg Rent | $990 | $990 | 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 24101 (Hardy, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $405,627 |
| Monthly Rent | $990 |
| Price-to-Rent | 34.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +6.2% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 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 24101
Population: 6,160
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 24101
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
Investor Insight: With 709 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How qualified is the tenant pool in Hardy, VA?
Hardy, VA draws a consistent base of working renters. Demand at the $990/mo rent level is reasonable for standard single-family and small multi rentals.
Does Hardy, VA make sense for an investment property?
Hardy, VA posts an investability rating of 3.0/5, with median home values near $406K and average rents around $990/mo. That combination puts it in the notable tier for investor interest.
How much does a house cost in Hardy, VA?
Median home price in Hardy, VA is near $406K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
Does a duplex house hack pencil in Hardy, VA?
House hacking in Hardy, VA is reasonable to execute. Prices around $406K and rents of $990/mo solid owner-occupant economics.
Which real estate strategy fits Hardy, VA?
Hardy, VA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($406K prices, $990/mo rents) make it a reasonable choice.
You know 24101 now. You don’t know where it ranks.
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How 24101 ranks in Roanoke, VA
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