Real Estate Investing in Spencer, Virginia (24165)
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Should you buy in 24165 (Spencer, VA)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 16.2% 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 Spencer, VA (24165)?
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Market Analysis: 24165 Spencer
This part of Henry County is not an easy win. The 24165 ZIP sits at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 24165 registers the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
The gap between 24165 and stronger Spencer ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Turning to rents, 1,633 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
New investors are better served looking at Spencer's stable or hybrid ZIPs before stepping into 24165. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Spencer:
Market Trends
Home Value History (with trend line)
📊 How Does 24165 Compare?
| Metric | 24165 | Spencer | Martinsville, VA | Virginia |
|---|---|---|---|---|
| Home Value | $165,228 | $165,228 | N/A | $403,170 |
| 5-Year CAGR | 4.4% | 4.4% | N/A | 6.4% |
| Avg Rent | $1,134 | $1,134 | N/A | - |
| Cap Rate | 5.4% | 5.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24165 (Spencer, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $165,228 |
| Monthly Rent | $1,134 |
| Price-to-Rent | 12.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.2% |
| Cap Rate | 5.4% |
| 5-Year IRR | 9.8% |
📈 Home Appreciation
| 1-Year | +7.3% ▲ |
| 3-Year CAGR | +1.0% ▲ |
| 5-Year CAGR | +4.4% ▲ |
| 10-Year CAGR | +4.5% ▲ |
🏠 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 (5.4%). 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 24165
Population: 1,633
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the median home value in Spencer, VA?
Typical homes in Spencer, VA go for around $165K. The 5-year CAGR of 0.0% stable price movement.
What is the tenant pool like in Spencer, VA?
Expect a solid tenant pool in Spencer, VA. The rental market absorbs $1,134/mo rents without meaningful friction.
How do landlord-tenant laws work in Spencer, VA?
VA ranks as a landlord-friendly state for landlord-tenant law. Spencer generally follows the statewide framework, so landlords face reasonable operating rules.
Should investors worry about vacancy in Spencer, VA?
Spencer, VA sees elevated vacancy, which is reasonable relative to the broader VA rental market.
What investment strategy works best in Spencer, VA?
Most investors in Spencer, VA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
You know 24165 now. You don’t know where it ranks.
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How 24165 ranks in Martinsville, VA
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