Real Estate Investing in Hiwassee, Virginia (24347)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24347 (Hiwassee, VA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 32.3% 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 Hiwassee, VA (24347)?
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Market Analysis: 24347 Hiwassee
Not every below-median market is a bargain. Hiwassee's 24347 ZIP stands at signals that favor experienced operators who can absorb the risk $227K pricing implies.
Meanwhile, the numbers look inviting — $227K purchase price, 0.0% nominal cap — the work to hit that pro forma in 24347 is substantial and deserves full respect.
Turning to rents, 24347 offers a low basis, the region around Hiwassee has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Demographically, 24347 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.
Strategy in 24347 is an operator game, not a passive one. Looking more closely, entry prices of $227K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Hiwassee:
Market Trends
Home Value History (with trend line)
📊 How Does 24347 Compare?
| Metric | 24347 | Hiwassee | Blacksburg-Christiansburg, VA | Virginia |
|---|---|---|---|---|
| Home Value | $227,207 | $227,207 | N/A | $403,170 |
| 5-Year CAGR | 1.8% | 1.8% | N/A | 6.4% |
| Avg Rent | $999 | $999 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24347 (Hiwassee, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $227,207 |
| Monthly Rent | $999 |
| Price-to-Rent | 19.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 5.2% |
📈 Home Appreciation
| 1-Year | +11.2% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | +1.8% ▲ |
| 10-Year CAGR | +3.6% ▲ |
🏠 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 24347
Population: 1,549
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 24347
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
Is Hiwassee, VA a good place for real estate investing?
Yes - Hiwassee, VA a 2.0/5 investability score. With $227K home prices against $999/mo monthly rent, the market delivers a reasonable entry point for new investors.
What monthly rent should investors expect in Hiwassee, VA?
Rental rates in Hiwassee, VA average $999/mo. Tenant demand and $227K home values make the yield look reasonable by investor standards.
What type of investing works in Hiwassee, VA?
Investors usually favor careful cash-flow rentals with hands-on management in Hiwassee, VA. With home values at $227K and rents near $999/mo, other strategies can work but produce predictable rather than outsized returns.
How strict are landlord regulations in Hiwassee, VA?
Hiwassee, VA operates under VA law, which is landlord-friendly overall for landlords. Expect steady treatment in typical lease and eviction cases.
What are vacancy rates like in Hiwassee, VA?
Hiwassee, VA sees elevated vacancy, which is reasonable relative to the broader VA rental market.
You know 24347 now. You don’t know where it ranks.
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