Real Estate Investing in Blue Grass, Virginia (24413)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24413 (Blue Grass, VA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 22.8% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 25.9 — hard to cash-flow at these prices.
• 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 Blue Grass, VA (24413)?
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Market Analysis: 24413 Blue Grass
The 24413 ZIP in Blue Grass, VA is a local-operator market. Outside capital chasing a $255K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $255K asset, 24413 is the wrong submarket. If the plan prices in friction, the yield can still work.
On the rental side, 24413 offers a low basis, the region around Blue Grass has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 24413 ZIP's population of 383 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
Strategy in 24413 is an operator game, not a passive one. Meanwhile, entry prices of $255K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Blue Grass:
Market Trends
Home Value History (with trend line)
📊 How Does 24413 Compare?
| Metric | 24413 | Blue Grass | Virginia |
|---|---|---|---|
| Home Value | $254,729 | $254,729 | $403,170 |
| 5-Year CAGR | 6.0% | 6.0% | 6.4% |
| Avg Rent | $819 | $819 | - |
| Cap Rate | 2.5% | 2.5% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24413 (Blue Grass, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $254,729 |
| Monthly Rent | $819 |
| Price-to-Rent | 25.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 8.5% |
📈 Home Appreciation
| 1-Year | +3.4% ▲ |
| 3-Year CAGR | +4.2% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 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 (2.5%). 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 24413
Population: 383
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
Is Blue Grass, VA a smart market for rental property?
With a 3.0/5 investability score, Blue Grass, VA ranks as a solid market for rental property investors. Median prices of $255K and rents of $819/mo drive the underlying numbers.
How quickly do rentals get leased in Blue Grass, VA?
Vacancy risk in Blue Grass, VA is elevated. That supports steady cash flow for typical rental holds.
What is the average monthly rent in Blue Grass, VA?
Rent in Blue Grass, VA is around $819/mo. The resulting rent-to-value relationship with $255K pricing is reasonable for most investor models.
What is it like being a landlord in Blue Grass, VA?
VA law landlord-friendly for landlords, and Blue Grass inherits those rules. Investors should still review local ordinances for rental licensing.
How qualified is the tenant pool in Blue Grass, VA?
Expect a solid tenant pool in Blue Grass, VA. The rental market absorbs $819/mo rents without meaningful friction.
You know 24413 now. You don’t know where it ranks.
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