Richmond, VA — Rental Investment Analysis
🔴WEAK— appreciation play onlyCap Rate
3.7%
Below average
Monthly Cash Flow
-$868
After all expenses
Price-to-Rent
15.2
Overpriced for rent
DSCR
0.58
Fails
📊 Key Metrics
- Median Home Price
- $383,146
- Average Rent (3BR)
- $2,130/mo
- Price-to-Rent Ratio
- 15.2(high)
- 1% Rule
- 0.55%(fails — need 1%+)
- Cash-on-Cash Return
- -11.6%
- Vacancy Rate
- 8.0%
📈 Market Strength
Assumptions Used
20% down, 7.000000000000001% rate, 30yr, 8% vacancy, 10% maintenance
Customize these numbers →📈 Population Movement (Tax Year 2021→2022)
Net Migration
-985 households
SHRINKING
Total Inflow
7,008
households moved in
Avg Income (New Residents)
$66,087
per household
Where they're coming from:
1.Henrico, VA2,421 households · avg $64,520
2.Chesterfield, VA1,855 households · avg $51,874
3.Fairfax, VA406 households · avg $71,069
4.Hanover, VA282 households · avg $64,004
5.District of Columbia, DC209 households · avg $109,627
Where residents are leaving to:
1.Henrico, VA3,370 households
2.Chesterfield, VA2,569 households
3.Hanover, VA329 households
4.Fairfax, VA190 households
5.District of Columbia, DC131 households
💡 Net outflow may indicate weakening demand — but can mean lower prices and higher cap rates.
🏘️ Best Zip Codes in Richmond for Investors
All Zip Codes in Richmond
| Zip | Cap Rate | Cash Flow | Home Price | Rent (3BR) | DSCR |
|---|---|---|---|---|---|
| 23224 | 5.2% | -$240 | $246,154 | $1,730/mo | 0.82 |
| 23236 | 4.0% | -$788 | $394,311 | $2,280/mo | 0.62 |
| 23222 | 4.0% | -$570 | $284,127 | $1,640/mo | 0.62 |
| 23234 | 3.8% | -$670 | $312,362 | $1,750/mo | 0.60 |
| 23235 | 3.7% | -$920 | $417,567 | $2,310/mo | 0.59 |
| 23219 | 3.7% | -$817 | $362,166 | $1,980/mo | 0.58 |
| 23225 | 3.4% | -$924 | $371,982 | $1,930/mo | 0.53 |
| 23220 | 3.4% | -$1,131 | $447,708 | $2,300/mo | 0.53 |
| 23226 | 2.6% | -$1,829 | $584,093 | $2,570/mo | 0.41 |
| 23221 | 1.8% | -$2,499 | $648,180 | $2,280/mo | 0.28 |