Real Estate Investing in Penhook, Virginia (24137)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24137 (Penhook, 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: 40.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 45.6 — 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 Penhook, VA (24137)?
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Market Analysis: 24137 Penhook
The 24137 ZIP covers a section of Penhook that demands careful diligence. Prices near $537K look accessible, but the work to make a deal cash flow is real.
Distressed markets are won on execution, not on spreadsheets. ZIP 24137 clocks in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
ZIP 24137's metrics run below Franklin County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The 24137 ZIP's population of 2,695 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
New investors are better served looking at Penhook's stable or hybrid ZIPs before stepping into 24137. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Penhook:
Property Strategy for 24137
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $391,730 | $1,090 | 2.0% | +6.7% | $195,865 |
| 3BR | $413,452 | $1,510 | 2.6% | +7.4% | $137,817 |
| 4BR | $1,133,021 | $1,810 | 1.2% | +10.6% | $283,255 |
Market Trends
Home Value History (with trend line)
📊 How Does 24137 Compare?
| Metric | 24137 | Penhook | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $537,117 | $537,117 | N/A | $403,170 |
| 5-Year CAGR | 5.0% | 5.0% | N/A | 6.4% |
| Avg Rent | $981 | $981 | N/A | - |
| Cap Rate | 1.4% | 1.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24137 (Penhook, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $537,117 |
| Monthly Rent | $981 |
| Price-to-Rent | 45.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.2% |
| Cap Rate | 1.4% |
| 5-Year IRR | 6.4% |
📈 Home Appreciation
| 1-Year | +5.4% ▲ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 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 (1.4%). 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 24137
Population: 2,695
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 24137
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.
Frequently Asked Questions
What is the average monthly rent in Penhook, VA?
The typical rental in Penhook, VA commands about $981/mo monthly. That rent profile even-keeled cash flow against the $537K purchase basis.
What is the typical renter like in Penhook, VA?
The renter base in Penhook, VA is reasonable for the $981/mo price point. Screening well and pricing to market typically yields even-keeled tenants.
What is the best play in Penhook, VA?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Penhook, VA. The numbers - $537K homes against $981/mo rents - support that play.
What is the typical home price in Penhook, VA?
The median home value in Penhook, VA is roughly $537K. That puts it reasonable relative to the VA statewide average.
Does Penhook, VA make sense for an investment property?
Penhook, VA shows an investability rating of 3.0/5, with median home values near $537K and average rents around $981/mo. That combination puts it in the robust tier for investor interest.
You know 24137 now. You don’t know where it ranks.
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