Real Estate Investing in Monterey, Virginia (24465)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24465 (Monterey, 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: 46.8% of homes vacant — above national norms.
- Higher unemployment: 9.5% unemployment — tenant risk signal.
- High price-to-rent: Price-to-rent ratio 29.1 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Monterey, VA (24465)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 24465 Monterey
Investors eyeing 24465 need to respect the fundamentals at play. Home values of $286K come alongside slower price movement and elevated management overhead.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 24465 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
In the broader VA picture, 24465 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Demographically, 24465 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.
The right play in 24465 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Monterey:
Property Strategy for 24465
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $257,310 | $910 | 2.5% | +8.8% | $128,655 |
| 3BR | $273,992 | $1,240 | 3.3% | +8.4% | $91,331 |
| 4BR | $364,512 | $1,440 | 2.8% | +9.2% | $91,128 |
Market Trends
Home Value History (with trend line)
📊 How Does 24465 Compare?
| Metric | 24465 | Monterey | Virginia |
|---|---|---|---|
| Home Value | $285,809 | $285,809 | $403,170 |
| 5-Year CAGR | 6.0% | 6.0% | 6.4% |
| Avg Rent | $819 | $819 | - |
| Cap Rate | 2.2% | 2.2% | - |
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 24465 (Monterey, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $285,809 |
| Monthly Rent | $819 |
| Price-to-Rent | 29.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +6.2% ▲ |
| 3-Year CAGR | +5.5% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 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 (2.2%). 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 24465
Population: 1,287
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 24465
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
Which real estate strategy fits Monterey, VA?
The best-fit strategy in Monterey, VA is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What is the average monthly rent in Monterey, VA?
Rent in Monterey, VA is around $819/mo. The resulting rent-to-value relationship with $286K pricing is reasonable for most investor models.
What is the renter demographic in Monterey, VA?
Tenant quality in Monterey, VA ranks as solid. Landlords generally report even-keeled occupancy at market rents of $819/mo.
How does Monterey, VA stack up for property investment?
Yes - Monterey, VA a 3.0/5 investability score. With $286K home prices against $819/mo monthly rent, the market delivers a reasonable entry point for new investors.
Is housing expensive in Monterey, VA?
Monterey, VA home values average about $286K. That price point suits investors targeting rentals with $819/mo in monthly income.
You know 24465 now. You don’t know where it ranks.
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