Real Estate Investing in Scottsville, Virginia (24590)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24590 (Scottsville, 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.
- Elevated vacancy: 8.3% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Scottsville, VA (24590)?
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Market Analysis: 24590 Scottsville
Put differently, ZIP 24590 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $348K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $348K asset, 24590 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 24590 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 24590 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 24590 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 Scottsville:
Property Strategy for 24590
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $265,829 | $1,560 | 4.2% | +6.7% | $132,914 |
| 3BR | $351,204 | $1,940 | 4.0% | +7.5% | $117,068 |
| 4BR | $461,450 | $2,360 | 3.7% | +7.4% | $115,363 |
Market Trends
Home Value History (with trend line)
📊 How Does 24590 Compare?
| Metric | 24590 | Scottsville | Charlottesville, VA | Virginia |
|---|---|---|---|---|
| Home Value | $348,348 | $348,348 | N/A | $403,170 |
| 5-Year CAGR | 5.5% | 5.5% | N/A | 6.4% |
| Avg Rent | $1,404 | $1,404 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
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 24590 (Scottsville, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $348,348 |
| Monthly Rent | $1,404 |
| Price-to-Rent | 20.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 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 (3.1%). 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 24590
Population: 7,940
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 24590
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 714 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What do rentals go for in Scottsville, VA?
Average rent in Scottsville, VA is approximately $1,404/mo per month. Against $348K home values that yields a reasonable rent-to-price ratio.
Are tenants stable in Scottsville, VA?
Scottsville, VA draws a steady base of working renters. Demand at the $1,404/mo rent level is reasonable for standard single-family and small multi rentals.
What kind of vacancy should I budget for in Scottsville, VA?
Occupancy in Scottsville, VA runs stable with elevated vacancy. Well-priced units at $1,404/mo lease on reasonable timelines.
Which investment style suits Scottsville, VA?
Investors usually favor careful cash-flow rentals with hands-on management in Scottsville, VA. With home values at $348K and rents near $1,404/mo, other strategies can work but produce stable rather than outsized returns.
How does Scottsville, VA rate as a rental market?
Scottsville, VA scores 3.0/5 for investability. Home values sit at $348K and rents near $1,404/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 24590 now. You don’t know where it ranks.
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How 24590 ranks in Charlottesville, VA
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