Real Estate Investing in Pittsville, Virginia (24139)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24139 (Pittsville, 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: 24.9% of homes vacant — above national norms.
- Lower household income: $32,713 median — tenant affordability is tighter.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Pittsville, VA (24139)?
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Market Analysis: 24139 Pittsville
The 24139 ZIP covers a section of Pittsville that demands careful diligence. Prices near $214K look accessible, but the work to make a deal cash flow is real.
From a cash-flow lens, the numbers look inviting — $214K purchase price, 0.0% nominal cap — the work to hit that pro forma in 24139 is substantial and deserves full respect.
Statewide comparisons place 24139 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 24139 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Pittsville:
Market Trends
Home Value History (with trend line)
📊 How Does 24139 Compare?
| Metric | 24139 | Pittsville | Danville, VA | Virginia |
|---|---|---|---|---|
| Home Value | $214,102 | $214,102 | N/A | $403,170 |
| 5-Year CAGR | 5.9% | 5.9% | N/A | 6.4% |
| Avg Rent | $972 | $972 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24139 (Pittsville, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $214,102 |
| Monthly Rent | $972 |
| Price-to-Rent | 18.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.5% |
| 5-Year IRR | 9.4% |
📈 Home Appreciation
| 1-Year | +9.5% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +5.8% ▲ |
🏠 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 (3.5%). 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 24139
Population: 689
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
Frequently Asked Questions
How does Pittsville, VA stack up for property investment?
Yes - Pittsville, VA a 3.0/5 investability score. With $214K home prices against $972/mo monthly rent, the market delivers a reasonable entry point for new investors.
How strong are rents in Pittsville, VA?
The typical rental in Pittsville, VA commands about $972/mo monthly. That rent profile reliable cash flow against the $214K purchase basis.
How tight is the rental market in Pittsville, VA?
Pittsville, VA carries elevated vacancy risk. Expect stable absorption at market rents of $972/mo.
Are tenants stable in Pittsville, VA?
Pittsville, VA draws a consistent base of working renters. Demand at the $972/mo rent level is reasonable for standard single-family and small multi rentals.
Is rental property easy to operate in Pittsville, VA?
Landlord-friendliness in Pittsville, VA is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 24139 now. You don’t know where it ranks.
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How 24139 ranks in Danville, VA
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