Real Estate Investing in Evington, Virginia (24550)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24550 (Evington, 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.
- Elevated vacancy: 9.9% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 25.5 — 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 Evington, VA (24550)?
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Market Analysis: 24550 Evington
ZIP 24550 inside Campbell County looks affordable on the surface — median value of $298K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $972/mo on a $298K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 24550 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 24550 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 24550 ZIP's population of 7,941 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reports the need for careful underwriting.
Experienced landlords with local relationships tend to find 24550 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 Evington:
Property Strategy for 24550
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $176,213 | $1,080 | 4.4% | +6.4% | $88,106 |
| 3BR | $276,323 | $1,490 | 3.9% | +7.4% | $92,108 |
| 4BR | $414,643 | $1,610 | 2.8% | +6.8% | $103,661 |
Market Trends
Home Value History (with trend line)
📊 How Does 24550 Compare?
| Metric | 24550 | Evington | Lynchburg, VA | Virginia |
|---|---|---|---|---|
| Home Value | $297,955 | $297,955 | N/A | $403,170 |
| 5-Year CAGR | 5.9% | 5.9% | N/A | 6.4% |
| Avg Rent | $972 | $972 | N/A | - |
| 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 24550 (Evington, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $297,955 |
| Monthly Rent | $972 |
| Price-to-Rent | 25.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +6.3% ▲ |
| 3-Year CAGR | +4.2% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 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 24550
Population: 7,941
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
🎓 Nearby Colleges & Universities
Investor Insight: With 549 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is house hacking profitable in Evington, VA?
House hacking in Evington, VA is reasonable to execute. Prices around $298K and rents of $972/mo solid owner-occupant economics.
How strong is Evington, VA for real estate investors?
Evington, VA rates 3.0/5 for investability. With median values at $298K and rents near $972/mo, the market offers reasonable fundamentals for rental investors.
Is the tenant base reliable in Evington, VA?
The renter base in Evington, VA is reasonable for the $972/mo price point. Screening well and pricing to market typically yields even-keeled tenants.
Are landlord laws favorable in Evington, VA?
Evington, VA operates under VA law, which is landlord-friendly overall for landlords. Expect stable treatment in typical lease and eviction cases.
What monthly rent should investors expect in Evington, VA?
Rental rates in Evington, VA average $972/mo. Tenant demand and $298K home values make the yield look reasonable by investor standards.
You know 24550 now. You don’t know where it ranks.
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How 24550 ranks in Lynchburg, VA
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