Real Estate Investing in Wise, Virginia (24293)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24293 (Wise, 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: 13.2% 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 Wise, VA (24293)?
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Market Analysis: 24293 Wise
Not every below-median market is a bargain. Wise's 24293 ZIP comes in at signals that favor experienced operators who can absorb the risk $188K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $188K asset, 24293 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 24293 and stronger Wise ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The demographic picture in 24293 includes headwinds that any investor should price in. Income distribution skews lower than Wise averages, and tenant stability requires active management.
The 24293 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Wise:
Property Strategy for 24293
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $101,933 | $920 | 6.5% | +8.1% | $50,966 |
| 3BR | $187,147 | $1,210 | 4.7% | +8.2% | $62,382 |
| 4BR | $259,009 | $1,440 | 4.0% | +8.7% | $64,752 |
Market Trends
Home Value History (with trend line)
📊 How Does 24293 Compare?
| Metric | 24293 | Wise | Big Stone Gap, VA | Virginia |
|---|---|---|---|---|
| Home Value | $188,208 | $188,208 | N/A | $403,170 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 6.4% |
| Avg Rent | $828 | $828 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24293 (Wise, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $188,208 |
| Monthly Rent | $828 |
| Price-to-Rent | 18.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 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 (3.4%). 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 24293
Population: 9,622
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 24293
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
Investor Insight: With 866 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Wise, VA a good place for real estate investing?
Yes - Wise, VA a 3.0/5 investability score. With $188K home prices against $828/mo monthly rent, the market delivers a reasonable entry point for new investors.
What is the typical renter like in Wise, VA?
Tenant quality in Wise, VA ranks as solid. Landlords generally report reliable occupancy at market rents of $828/mo.
What are rental rates like in Wise, VA?
Rental rates in Wise, VA average $828/mo. Tenant demand and $188K home values make the yield look reasonable by investor standards.
What is the rental occupancy rate in Wise, VA?
Occupancy in Wise, VA runs stable with elevated vacancy. Well-priced units at $828/mo lease on reasonable timelines.
What type of investing works in Wise, VA?
Investors usually favor careful cash-flow rentals with hands-on management in Wise, VA. With home values at $188K and rents near $828/mo, other strategies can work but produce stable rather than outsized returns.
You know 24293 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 24293 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 24293 ranks in Big Stone Gap, VA
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