Real Estate Investing in Crockett, Virginia (24323)
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Should you buy in 24323 (Crockett, 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: 16.2% 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 Crockett, VA (24323)?
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Market Analysis: 24323 Crockett
The 24323 ZIP covers a section of Crockett that demands careful diligence. Prices near $241K look accessible, but the work to make a deal cash flow is real.
The 24323 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Nearby ZIPs in Crockett have seen price recovery that 24323 has not matched. Wythe County data supports the view that the spread is structural rather than temporary.
Demographically, 24323 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.
Distressed ZIPs reward experience. resilient returns are possible in 24323, 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 Crockett:
Market Trends
Home Value History (with trend line)
📊 How Does 24323 Compare?
| Metric | 24323 | Crockett | Virginia |
|---|---|---|---|
| Home Value | $240,673 | $240,673 | $403,170 |
| 5-Year CAGR | 5.5% | 5.5% | 6.4% |
| Avg Rent | $819 | $819 | - |
| Cap Rate | 2.7% | 2.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24323 (Crockett, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $240,673 |
| Monthly Rent | $819 |
| Price-to-Rent | 24.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +10.5% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 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 (2.7%). 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 24323
Population: 929
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 investment strategy works best in Crockett, VA?
In Crockett, VA the solid play is typically careful cash-flow rentals with hands-on management. The combination of $241K prices and $819/mo rents suits that approach.
Does Crockett, VA favor landlords or tenants?
Rental owners in Crockett, VA deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What do landlords charge for rent in Crockett, VA?
Expect rents around $819/mo per month in Crockett, VA. With home values at $241K, the yield math works out to reasonable levels for rental investors.
What kind of tenants rent in Crockett, VA?
Tenant quality in Crockett, VA ranks as solid. Landlords generally report consistent occupancy at market rents of $819/mo.
What is the typical vacancy rate in Crockett, VA?
Crockett, VA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 24323 now. You don’t know where it ranks.
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