Manchester

The single most compelling investor play in Richmond. A massive development pipeline and direct downtown connectivity have it on a trajectory local investors compare to Scott's Addition five-to-seven years ago - but entry prices are still reasonable and the cash-on-cash potential is the best of the appreciation plays.

Some parcels sit in flood zones, which materially affects insurance and value, so condition and location due diligence is essential. It's mid-cycle, so you're paying for momentum, not buying at the floor.

Investors who want the city's best balance of upside and current return and will do careful due diligence on each property.