Real Estate Investing in Henry, Virginia (24102)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24102 (Henry, 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: 35.1% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Henry, VA (24102)?
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Market Analysis: 24102 Henry
ZIP 24102 inside Franklin County looks affordable on the surface — median value of $232K — but the discount exists for reasons that a careful buyer should understand before committing.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $232K asset, 24102 is the wrong submarket. If the plan prices in friction, the yield can still work.
Looking more closely, 24102 offers a low basis, the region around Henry has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 24102 ZIP's population of 1,504 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
Experienced landlords with local relationships tend to find 24102 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 Henry:
Property Strategy for 24102
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $163,928 | $910 | 4.0% | +6.4% | $81,964 |
| 3BR | $255,495 | $1,230 | 3.5% | +8.1% | $85,165 |
Market Trends
Home Value History (with trend line)
📊 How Does 24102 Compare?
| Metric | 24102 | Henry | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $232,002 | $232,002 | N/A | $403,170 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 6.4% |
| Avg Rent | $819 | $819 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24102 (Henry, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $232,002 |
| Monthly Rent | $819 |
| Price-to-Rent | 23.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.8% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +7.7% ▲ |
| 3-Year CAGR | +6.5% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 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 (2.8%). 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 24102
Population: 1,504
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 24102
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 Henry, VA rate as a rental market?
Henry, VA rates 3.0/5 for investability. With median values at $232K and rents near $819/mo, the market offers reasonable fundamentals for rental investors.
What are vacancy rates like in Henry, VA?
Henry, VA sees elevated vacancy, which is reasonable relative to the broader VA rental market.
What do rentals go for in Henry, VA?
Average rent in Henry, VA is approximately $819/mo per month. Against $232K home values that yields a reasonable rent-to-price ratio.
What price range are homes in Henry, VA?
The median home value in Henry, VA is roughly $232K. That puts it reasonable relative to the VA statewide average.
What kind of tenants rent in Henry, VA?
Tenant quality in Henry, VA ranks as solid. Landlords generally report even-keeled occupancy at market rents of $819/mo.
You know 24102 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 24102 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 24102 ranks in Roanoke, VA
Every ZIP in this metro, ranked. Free.
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