Real Estate Investing in Millboro, Virginia (24460)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24460 (Millboro, VA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 41.9% of homes vacant — above national norms.
- Lower household income: $39,250 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Millboro, VA (24460)?
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Market Analysis: 24460 Millboro
Turning to rents, ZIP 24460 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $240K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $240K asset, 24460 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader VA picture, 24460 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Demographically, 24460 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.
Experienced landlords with local relationships tend to find 24460 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Millboro:
Property Strategy for 24460
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $133,767 | $810 | 4.4% | — | $133,767 |
| 2BR | $176,036 | $930 | 3.8% | +4.9% | $88,018 |
| 3BR | $261,274 | $1,250 | 3.4% | +5.5% | $87,091 |
| 4BR | $387,130 | $1,470 | 2.7% | +5.8% | $96,783 |
Market Trends
Home Value History (with trend line)
📊 How Does 24460 Compare?
| Metric | 24460 | Millboro | Virginia |
|---|---|---|---|
| Home Value | $239,746 | $239,746 | $403,170 |
| 5-Year CAGR | 3.9% | 3.9% | 6.4% |
| Avg Rent | $837 | $837 | - |
| Cap Rate | 2.7% | 2.7% | - |
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 24460 (Millboro, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $239,746 |
| Monthly Rent | $837 |
| Price-to-Rent | 23.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 6.7% |
📈 Home Appreciation
| 1-Year | +6.6% ▲ |
| 3-Year CAGR | +4.1% ▲ |
| 5-Year CAGR | +3.9% ▲ |
| 10-Year CAGR | +4.4% ▲ |
🏠 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 (2.7%). 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 24460
Population: 1,087
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 24460
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.
Frequently Asked Questions
What kind of market is Millboro, VA for investors?
Investors tracking Millboro, VA will find a 3.0/5 rating supported by $240K median home values and $837/mo rents. That profile suits long-term holders targeting consistent returns.
How much is rent in Millboro, VA?
Millboro, VA rentals go for roughly $837/mo a month. That puts gross yield in solid territory relative to $240K acquisition costs.
What is the best play in Millboro, VA?
Millboro, VA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($240K prices, $837/mo rents) make it a reasonable choice.
Can I live-in-and-rent in Millboro, VA?
House hacking in Millboro, VA is a challenging. With home values around $240K and rents at $837/mo, owner-occupants can offset a meaningful share of PITI.
What kind of tenants rent in Millboro, VA?
Millboro, VA offers a measured renter base at the $837/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 24460 now. You don’t know where it ranks.
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