Real Estate Investing in Oceana, West Virginia (24870)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24870 (Oceana, WV)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 12.2% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Oceana, WV (24870)?
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Market Analysis: 24870 Oceana
In Oceana's 24870 ZIP, the arithmetic favors hands-on owners. Median home values comes in at $70K, leaving spread for capex-heavy BRRRR or reposition strategies.
BRRRR works in 24870 because the math supports it. Buy at $70K, rehab, and the refinance step typically recovers capital in a way that flat-yield markets cannot match.
Comparing Oceana submarkets, ZIP 24870 offers an entry cost that most surrounding neighborhoods have moved past. The solid delta is the opportunity.
The 24870 ZIP's demographic trend has been one of stability with upside — population of 1,652, steady renter share, and an incoming cohort that is willing to pay for improved units.
Value-add plays pencil in 24870 when three things line up: a sub-median purchase, a realistic rehab budget, and a post-rehab rent comp that stands up. All three are present in this ZIP.
Here's what matters if you're considering buying a home in Oceana:
Property Strategy for 24870
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $48,960 | $870 | 12.8% | +5.4% | $24,480 |
| 3BR | $70,149 | $1,170 | 12.0% | +2.4% | $23,383 |
| 4BR | $89,367 | $1,180 | 9.5% | +4.7% | $22,342 |
Market Trends
Home Value History (with trend line)
📊 How Does 24870 Compare?
| Metric | 24870 | Oceana | West Virginia |
|---|---|---|---|
| Home Value | $69,653 | $69,653 | $169,372 |
| 5-Year CAGR | 2.7% | 2.7% | 6.1% |
| Avg Rent | $783 | $783 | - |
| Cap Rate | 8.8% | 8.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24870 (Oceana, WV). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $69,653 |
| Monthly Rent | $783 |
| Price-to-Rent | 7.4:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 13.5% |
| Cap Rate | 8.8% |
| 5-Year IRR | 11.5% |
📈 Home Appreciation
| 1-Year | +15.6% ▲ |
| 3-Year CAGR | +1.0% ▲ |
| 5-Year CAGR | +2.7% ▲ |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (8.8%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 24870
Population: 1,652
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 24870
Schools in This ZIP Code
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
Glen Fork Elementary & Middle School
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 is the typical home price in Oceana, WV?
Oceana, WV median home values land near $70K. That is reasonable territory for investors looking at $783/mo-per-month rentals.
Can owner-occupants cash flow in Oceana, WV?
For house hackers, Oceana, WV is an attractive. The $783/mo rent on a unit helps defray the mortgage on a $70K property.
Is the 1% rule achievable in Oceana, WV?
With rents of $783/mo on $70K homes, Oceana, WV close to the 1% rule for most properties. The actual rent-to-price ratio is 1.12%.
What are rental rates like in Oceana, WV?
Rent in Oceana, WV is around $783/mo. The resulting rent-to-value relationship with $70K pricing is reasonable for most investor models.
Is Oceana, WV a viable BRRRR market?
BRRRR works a strong in Oceana, WV. With $70K ARVs and $783/mo rents, investors who buy right can refinance out most of their capital.
You know 24870 now. You don’t know where it ranks.
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