Real Estate Investing in Gap Mills, West Virginia (24941)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24941 (Gap Mills, WV)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 52.0% 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 Gap Mills, WV (24941)?
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Market Analysis: 24941 Gap Mills
Not every below-median market is a bargain. Gap Mills's 24941 ZIP reflects signals that favor experienced operators who can absorb the risk $151K pricing implies.
Rent of $810/mo on a $151K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 24941 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 24941 among WV's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Who lives in 24941 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 24941 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Gap Mills:
Property Strategy for 24941
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $131,229 | $900 | 4.9% | +10.6% | $65,614 |
| 3BR | $173,156 | $1,240 | 5.2% | +7.6% | $57,719 |
Market Trends
Home Value History (with trend line)
📊 How Does 24941 Compare?
| Metric | 24941 | Gap Mills | West Virginia |
|---|---|---|---|
| Home Value | $151,264 | $151,264 | $169,372 |
| 5-Year CAGR | 5.9% | 5.9% | 6.1% |
| Avg Rent | $810 | $810 | - |
| Cap Rate | 4.2% | 4.2% | - |
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 24941 (Gap Mills, WV). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $151,264 |
| Monthly Rent | $810 |
| Price-to-Rent | 15.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.2% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +12.2% ▲ |
| 3-Year CAGR | +7.2% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | N/A |
🏠 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 (4.2%). 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 24941
Population: 1,077
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
Frequently Asked Questions
Are homes affordable in Gap Mills, WV?
Gap Mills, WV home values average about $151K. That price point suits investors targeting rentals with $810/mo in monthly income.
Do rentals sit vacant long in Gap Mills, WV?
Rental vacancy in Gap Mills, WV is elevated. Investors should budget normal turnover but not chronic empty units.
What kind of tenants rent in Gap Mills, WV?
Gap Mills, WV offers a even-keeled renter base at the $810/mo rent level. Tenant turnover is reasonable for well-managed properties.
Are landlord laws favorable in Gap Mills, WV?
Gap Mills, WV operates under WV law, which is landlord-friendly overall for landlords. Expect predictable treatment in typical lease and eviction cases.
What is the smart move for investors in Gap Mills, WV?
In Gap Mills, WV the significant play is typically careful cash-flow rentals with hands-on management. The combination of $151K prices and $810/mo rents suits that approach.
You know 24941 now. You don’t know where it ranks.
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