Real Estate Investing in Blackwater, Virginia (24221)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24221 (Blackwater, VA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 48.4% of homes vacant — above national norms.
• 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 Blackwater, VA (24221)?
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Market Analysis: 24221 Blackwater
This part of Lee County is not an easy win. The 24221 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Meanwhile, the numbers look inviting — $151K purchase price, 0.0% nominal cap — the work to hit that pro forma in 24221 is substantial and deserves full respect.
ZIP 24221's metrics run below Lee County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 24221 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 24221 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Blackwater:
Market Trends
Home Value History (with trend line)
📊 How Does 24221 Compare?
| Metric | 24221 | Blackwater | Virginia |
|---|---|---|---|
| Home Value | $150,933 | $150,933 | $403,170 |
| 5-Year CAGR | 6.6% | 6.6% | 6.4% |
| Avg Rent | $846 | $846 | - |
| Cap Rate | 4.4% | 4.4% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24221 (Blackwater, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $150,933 |
| Monthly Rent | $846 |
| Price-to-Rent | 14.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.4% |
| 5-Year IRR | 10.9% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | +6.8% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 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 (4.4%). 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 24221
Population: 717
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 strong is Blackwater, VA for real estate investors?
Blackwater, VA scores 3.0/5 for investability. Home values sit at $151K and rents near $846/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What is the average monthly rent in Blackwater, VA?
Rent in Blackwater, VA is around $846/mo. The resulting rent-to-value relationship with $151K pricing is reasonable for most investor models.
What is the median home value in Blackwater, VA?
Typical homes in Blackwater, VA go for around $151K. The 5-year CAGR of 0.0% consistent price movement.
How tight is the rental market in Blackwater, VA?
Blackwater, VA carries elevated vacancy risk. Expect steady absorption at market rents of $846/mo.
How strong is the working-renter base in Blackwater, VA?
Tenant demand in Blackwater, VA is solid. The local workforce $846/mo rents across most rental classes.
You know 24221 now. You don’t know where it ranks.
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