Real Estate Investing in Rocky Mount, Virginia (24151)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24151 (Rocky Mount, 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: 14.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 27.0 — 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 Rocky Mount, VA (24151)?
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Market Analysis: 24151 Rocky Mount
ZIP 24151 in Rocky Mount, VA carries a impressive set of headwinds. Home values near $277K and rents of $855/mo sit inside a market where underwriting has to be tight.
Distressed markets are won on execution, not on spreadsheets. ZIP 24151 reports the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Statewide comparisons place 24151 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 24151 ZIP's population of 18,256 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
Distressed ZIPs reward experience. substantial returns are possible in 24151, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Rocky Mount:
Property Strategy for 24151
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $134,003 | $870 | 4.7% | +6.4% | $134,003 |
| 2BR | $179,143 | $950 | 3.8% | +9.1% | $89,571 |
| 3BR | $269,279 | $1,320 | 3.5% | +8.7% | $89,760 |
| 4BR | $343,143 | $1,590 | 3.3% | +7.8% | $85,786 |
| 5BR | $394,259 | — | — | +7.0% | $78,852 |
Market Trends
Home Value History (with trend line)
📊 How Does 24151 Compare?
| Metric | 24151 | Rocky Mount | Roanoke, VA | Virginia |
|---|---|---|---|---|
| Home Value | $276,663 | $276,663 | N/A | $403,170 |
| 5-Year CAGR | 7.4% | 7.4% | N/A | 6.4% |
| Avg Rent | $855 | $855 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24151 (Rocky Mount, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $276,663 |
| Monthly Rent | $855 |
| Price-to-Rent | 27.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 9.8% |
📈 Home Appreciation
| 1-Year | +7.2% ▲ |
| 3-Year CAGR | +6.9% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 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 (2.4%). 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 24151
Population: 18,256
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 24151
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
Should investors consider Rocky Mount, VA?
Investors tracking Rocky Mount, VA will find a 3.0/5 rating supported by $277K median home values and $855/mo rents. That profile suits long-term holders targeting measured returns.
What do landlords charge for rent in Rocky Mount, VA?
Average rent in Rocky Mount, VA is approximately $855/mo per month. Against $277K home values that yields a reasonable rent-to-price ratio.
What is the smart move for investors in Rocky Mount, VA?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Rocky Mount, VA. The numbers - $277K homes against $855/mo rents - support that play.
How expensive is real estate in Rocky Mount, VA?
Typical homes in Rocky Mount, VA go for around $277K. The 5-year CAGR of 0.0% measured price movement.
How qualified is the tenant pool in Rocky Mount, VA?
Rocky Mount, VA offers a measured renter base at the $855/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 24151 now. You don’t know where it ranks.
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How 24151 ranks in Roanoke, VA
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