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Charlottesville Investment Properties | Rentals,Flips,Commercial & Land

Real Estate Investing In The Charlottesville Area

Table Of Contents :

Investment property demand in Charlottesville remains strong despite COVID and declining cap rates. Investors see the Charlottesville market as stable with a lot of upside for appreciation. Inventory for rentals like small multi-family properties are very low driving up prices and reducing investor cash flow potential. Charlottesville is currently seeing cap rates between 4-6% depending on the location and asset class. Class A properties in locations near the University of Virginia or the Charlottesville Downtown Pedestrian mall see caps around 4%. Class B properties needing some upgrades and being located just outside of the UVA area are currently trading at 5-6% cap rates.

Investors in the Charlottesville and Albemarle markets need to get creative to find residential investment opportunities. Inventory is very low, forcing investors to convert properties from commercial to residential use. Developers and investors are buying land to develop residential and multi-family properties. The Charlottesville office and retail market has taken a hit with more people working remotely and some businesses needing to regroup. This creates the opportunity for investors to repurpose retail and office space into residential apartments.

Local zoning offices in Charlottesville and Albemarle remain behind in processing building permits. This has increased developer carrying costs and time frames for construction. Local contractors remain backlogged and very busy with most 6 months to 2 years out for new projects. Slow permitting, busy contractors and supply chain issues are changing the way investors look at the Charlottesville and Albemarle markets. Today the investment mindset is long term hold with few investors looking for short term deals.

REAL ESTATE AS AN INVESTMENT

Making the choice to invest in residential real estate is an excellent way to diversify and grow your net worth, if it is done correctly. Besides providing a steady cash flow and amazing tax benefits, investing in real estate also provides a sense of security that is simply unmatched in other investments. Real estate is ever-accessible, appreciable, depreciable, leverageable, improvable, deductible, deferrable and stable; however, for you as an investor, the most important thing real estate can be is rentable.

BUYING RENTAL PROPERTIES

At Town Realty, we understand the rental property business from an investor’s perspective, and we have the tools you need to be successful in your pursuits. Our goal is to find you an excellent investment that promises a positive return in every area. Best of all, our team is prepared to help you every step of the way. At Town Realty we believe real estate to be the most “able” investment in today’s economy, and our proven processes lead to amazing results.

WE ARE AGENTS AND INVESTORS

With Town Realty, you are not just dealing with just a residential realtor, we are also active investors in multiple Charlottesville rental properties and have been successful in “flipping” local properties. Our Realtors will use our experience to focus on an immediate equity gain upon the acquisition of a rental property. This goal is put in place to ensure sufficient cash flow to sustain the returns you need for success. Additionally, our agents are ready and willing to help you select the right piece of real estate for your needs, as well as one that is sure to appeal to the rental market of Charlottesville at large.

HIGHER EXPECTATIONS FOR A REAL ESTATE AGENT

We always work to meet both your short-term and long-term financial needs during the acquisition process. Besides considering the base price of the property, our knowledgeable Realtors also look at things such as property taxes, maintenance costs and other factors that impact your initial investment into the residence. Further, Town’s Realty ability to provide advanced financial projections based on current market trends allows you to see the big picture before purchasing a property. This is an invaluable tool that ensures success and meets our goal to help you become a sophisticated investor and grow your financial wealth.

Whether you seek your first investment property or you are looking to expand your existing portfolio, Town’s Realty resources are unmatched. With lenders, contractors and property managers in our network, all of the information you need is at your fingertips. We share the fundamental truths of real estate investment with our clients, and we are happy to share the models that schooled investors use; together, these factors allow even novice investors to feel comfortable with the process. For seasoned real estate investors, Town’s Realty advanced analytics help you target lucrative properties in niche markets – a precious tool for the continued growth of an investment business. The unrivaled tax benefits of depreciations, deductions and exchanges await in Charlottesville’s rentable real estate market, and with Town’s Realty help, your success is immanent.

OPPORTUNITIES IN THE CHARLOTTESVILLE AREA: STUDENT RENTALS

When it comes to the rental market in Charlottesville, options are bountiful. This town is largely based around the University of Virginia, and as such, there is a high need for residential rentals to accommodate students. There are just under 24,000 students enrolled at UVA, and of this number, approximately 41 percent live on the campus. While there are some students that live at home in the area, this leaves a significant portion of the student body that is in need of off-campus rental housing. This factor alone presents a huge opportunity for the area’s real estate investors. Further, the stability of the university means that there will always be a steady flow of students – and even faculty members – looking for affordable rental housing in the University region.

Investors looking at neighborhoods around the UVA campus have numerous property options, including single-family homes, townhouses and even apartment complexes.

LIVABILITY AND A STRONG ECONOMY

Students are just one sector of the rental market in the greater Charlottesville area. This region is known for its livability, and, in fact, has received numerous accolades, including the “Most Exciting Place in Virginia” by Movoto Real Estate, the “Best College Town in America” by Traveler’s Today, one of the “Top 100 Places to Live” by Livability.com, one of “America’s Favorite Mountain Towns” by Travel + Leisure Magazine, and the list goes on. The draw of Charlottesville is undeniable, and this brings in a steady flow of new residents on a regular basis. Budding professionals and families are drawn to the stable work environment and ever-changing environment Charlottesville presents, while retirees are drawn to the scenic beauty and easy lifestyle offered by Charlottesville and Albemarle County. The great variety of residents, and the options they seek, means excellent things for the rental market in the greater Charlottesville area.

INVESTING OUTSIDE OF THE CITY

The investment properties do not end at the city lines, and renters are bountiful throughout the 29 North region, as well. In 29 North, the beauty of the country combines with fantastic access to surrounding communities and a number of the county’s most prominent employers. Big-name retailers and local shops provide employment options in the retail sectors; however, the major draws for the area include General Electric, the Defense Intelligence Agency and the National Ground Intelligence Center. There is also an airport in town that provides opportunity for residents.

Where there is employment there are incoming residents, and this gives you as a real estate investor a great chance to build your portfolio in a different, less-dense region of Albemarle County. Town’s Realty expertise in Charlottesville’s specific market trends is just one of the ways that our Realtors help you in the investment property acquisition process. Overall, it is our commitment to excellence – both ours and yours – that allows success in each and every transaction.

Featured Listings

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Residential

4Bedroom(s)
3Bathroom(s)
2,182Sqft
New Lots Now Released! Bask in the natural light that floods every level of this End Unit townhome. You'll enjoy gorgeous mountain views from your covered rooftop terrace in Proffit Terrace, a NEW townhome community located near the airport, NGIC, grocery stores, schools, and restaurants on Route 29 North.
$524,898

1584 SAWGRASS CT, CHARLOTTESVILLE, Virginia 22901

Residential

4Bedroom(s)
3Bathroom(s)
3,684Sqft
Immaculate one level living home in Dunlora Forest loaded with upgrades. One of the best lots in the neighborhood - backs to common area and looks out onto woods instead of other homes. This open concept home is loaded with upgrades: hardwood floors throughout main level including master bedroom, upgraded stainless steel appliance package, custom upgraded cabinets, etc.
$699,000

110 MANSFIELD CT, CHARLOTTESVILLE, Virginia 22903

Residential

3Bedroom(s)
1Bathroom(s)
20Picture(s)
1,400Sqft
Delightful, easy-living townhome on a quiet cul-de-sac, just beyond City limit. Spacious Living room, on entering, which leads to renovated kitchen with special remodeled cabinetry and fabulous granite counter/bar. Large picture window in the Dining room looks out to the mature landscaping and raised plant-beds in the private back yard. Natural gas heat. Roof included in HOA.
$255,000

1925 PHEASANT LN, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
2Bathroom(s)
22Picture(s)
2,562Sqft
FANTASTIC LOCATION IN IVY FARMS, JUST A FEW MILES WEST OF CHARLOTTESVILLE, ON 2.33 PRIVATE ACRES, SITUATED IN MERIWETHER LEWIS ELEMENTARY SCHOOL DISTRICT AND WESTERN ALBEMARLE. THIS HOME OFFERS MOSTLY ONE LEVEL LIVING WITH MASTER BEDROOM AND BATH, SPACIOUS FAMILY ROOM WITH FIREPLACE AND VAULTED CEILING, ATTACHED TWO CAR GARAGE, LIVING AND DINING ROOM ATTACHED TO LARGE REAR DECK.
$795,000

1516 WESTFIELD CT, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
2Bathroom(s)
23Picture(s)
1,734Sqft
This townhome has features more likely found in a detached home - 3 bedrooms, 2 1/2 baths, bright & roomy, amazingly large living room w/fireplace, dining room & master bedroom plus large utility room and breakfast area.
$373,000

1487 WICKHAM POND DR, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
2Bathroom(s)
1,912Sqft
Enjoy spectacular mountain views from this home in Wickham Pond. This home, overlooking the wooded common area allows for a feeling of privacy with green space to the front and rear. Featuring a wonderful open floor plan with living/dining/kitchen combo and tons of natural light.
$348,500

0 JESSIES LN, CHARLOTTESVILLE, Virginia 22911

Land

2Picture(s)
2.29Acre
This property in Charlottesville provides you with paved roads and plenty of space. This residential lot will allow you to build your dream home plus more! Out of state investor. Property has power, needs well, and needs septic. Buyer will be responsible to confirm any restrictions.
$90,000

2148 LAKESIDE DR, CHARLOTTESVILLE, Virginia 22901

Residential

3Bedroom(s)
3Bathroom(s)
45Picture(s)
1,880Sqft
Beautiful updated home in Lake Albemarle! This Single Level Home has 3 bedrooms, 3 Full baths and is privately situated with water views of Lake Albemarle. Large Master Suite with Master Bath, Large Open Gourmet Kitchen with a large pantry, Granite, & SS appliances. Large spacious Living Room with vaulted ceilings, skylights, & built-in cabinets.
$625,000

380 SPRING LN, CHARLOTTESVILLE, Virginia 22903

Residential

4Bedroom(s)
5Bathroom(s)
5,754Sqft
This classic and character rich 4 bedroom, 5.5 bath home located in the heart of Ivy is sited in a park-like setting surrounded by verdant lawns, lush gardens and abundant shade trees. Throughout the years it has been tastefully expanded and updated to create a gracious dwelling with unparalleled attention to detail and craftsmanship in every room.
$2,295,000

10 EAGLE VIEW, CHARLOTTESVILLE, Virginia 22903

Land

1Picture(s)
2.64Acre
Amazing mountain views in Crozet - build your custom home on one of the last two lots in Fairhill. Surrounded by lots that each offer unique features, you'll find the perfect place for your home in Fairhill. No where else in Crozet can you build a custom home in a small neighborhood that offers mountain, water, pastoral views - all from the same lot! - as well as be surrounded by protected trees.
$450,000

518 BENNETT ST, CHARLOTTESVILLE, Virginia 22901

Residential

6Bedroom(s)
4Bathroom(s)
3,567Sqft
Open floorplan main level living home with lots of additional living, entertaining, work or rental space. This home features tall 10' ceiling on the main floor with an open kitchen and lots of natural light. The main floor master is just steps away with a convenient planning desk area just inside the front door. The second floor has 3 bedrooms and an enclosed loft space.
$949,000

1527 BROAD AVE, CHARLOTTESVILLE, Virginia 22903

Residential

4Bedroom(s)
2Bathroom(s)
18Picture(s)
2,043Sqft
UVA Cape Cod! Location could not be more perfect for all things University of Virginia! Grand investment opportunity zoned R-2. Features include private, fenced backyard, hardwood flooring and a friendly neighborhood.
$374,500
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