Real Estate Investing in Danville, Virginia (24540)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24540 (Danville, 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: 13.9% of homes vacant — above national norms.
What’s happening in Danville, VA (24540)?
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Market Analysis: 24540 Danville
This part of Danville City is not an easy win. The 24540 ZIP comes in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $1,158/mo on a $155K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 24540 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Danville have seen price recovery that 24540 has not matched. Danville City data supports the view that the spread is structural rather than temporary.
From an investor standpoint, 31,491 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 24540 is an operator game, not a passive one. On the rental side, entry prices of $155K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Danville:
Property Strategy for 24540
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $92,313 | $910 | 7.1% | +12.0% | $46,157 |
| 3BR | $190,193 | $1,270 | 4.8% | +9.3% | $63,398 |
| 4BR | $237,519 | $1,430 | 4.3% | +10.2% | $59,380 |
| 5BR | $328,704 | — | — | +9.6% | $65,741 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 24540 Compare?
| Metric | 24540 | Danville | Danville, VA | Virginia |
|---|---|---|---|---|
| Home Value | $154,513 | $158,598 | N/A | $403,170 |
| 5-Year CAGR | 6.8% | 7.3% | N/A | 6.4% |
| Avg Rent | $1,158 | $1,172 | N/A | - |
| Cap Rate | 5.9% | 5.8% | - | - |
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 24540 (Danville, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $154,513 |
| Monthly Rent | $1,158 |
| Price-to-Rent | 11.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.0% |
| Cap Rate | 5.9% |
| 5-Year IRR | 12.6% |
📈 Home Appreciation
| 1-Year | +2.0% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +6.6% ▲ |
🏠 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 (5.9%). 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 24540
Population: 31,491
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 24540
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
Investor Insight: With 622 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Can I house hack in Danville, VA?
Danville, VA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $155K price point reasonable to enter.
How strong is Danville, VA for real estate investors?
Danville, VA scores 3.0/5 for investability. Home values sit at $155K and rents near $1,158/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How strong is the working-renter base in Danville, VA?
The renter base in Danville, VA is reasonable for the $1,158/mo price point. Screening well and pricing to market typically yields consistent tenants.
How landlord-friendly is Danville, VA?
Landlord-friendliness in Danville, VA is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What do rentals go for in Danville, VA?
Average rent in Danville, VA is approximately $1,158/mo per month. Against $155K home values that yields a reasonable rent-to-price ratio.
You know 24540 now. You don’t know where it ranks.
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How 24540 ranks in Danville, VA
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