2715 Massachusetts Ave NW · Roanoke, VA 24017

$185,000

4 bd · 2.0 ba · 1,669 sqft · SingleFamily public records · 16 Days on market

Built 1929 1.98 ac lot Est $174k · 7% over

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.8/30.0
• DSCR +4.9/10.0
• ARV discount +4.5/15.0
• Schools +4.1/10.0
• 1% rule +3.9/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Once in a while a home in great condition will come on the market that offers strong value in a desired location. Look no further. This well maintained, delightful home has 10 foot ceilings and a one acre lot. Ample space inside & out & great location makes this the ideal family home.

Key facts

• Fresh paint
• 1.98 acre lot
• 6 parking spots

Tags

• UPDATED EAT IN KITCHEN
• GLEAMING HARDWOOD FLOORING
• FRESH PAINT

Property features AI

Finance

• Other: Parcel numbers associated with the property
• Financial info: Annual tax amount listed

Exterior

• Parking: 6 open parking spaces
• Utilities: Has heating; Has cooling
• Home design: Residential property; Built in 1929
• Exterior features: Off-street parking

Interior

• Bedrooms: 4 bedrooms (1 on the main level)
• Flooring: Wood
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Forced air electric heating; Has cooling
• Interior features: Wood flooring

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (11.4% below list).
• Recommended offer: $164k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.2% in Roanoke — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#163 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities C-, employment D, crime F.
• Roanoke City Public School District (urban): math 40% / reading 58% proficiency, ranked #102 of 131 in VA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Westside Elementary (math 10% / reading 28%, grade F, #1,093 of 1,108 statewide, top 99%, 640 students, 98% FRL); Addison Aerospace Magnet Middle (math 25% / reading 55%, grade F, #306 of 342 statewide, top 90%, 523 students, 97% FRL); William Fleming High (math 66% / reading 68%, grade B, #185 of 319 statewide, top 61%, 1,911 students, 96% FRL) — zoned schools average 97% FRL vs 67% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.7%/yr); 152 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; 113 units permitted in Roanoke city in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Roanoke County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $70k; list at $185k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,880 (11.4% below list)

Questions for the listing agent

1. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.96%
• DSCR: 1.09
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $173,576
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1220 Aspen St NW	0.25mi	4/1.0	1,531 (-8%)	2mo	$90,000	$59	69
1801 Franwill Ave NW	0.71mi	4/2.0	1,663 (-0%)	1mo	$280,000	$168	65
2321 Massachusetts Ave NW	0.26mi	3/1.5 (-1)	1,777 (+6%)	11mo	$235,000	$132	61
2707 Mountainaire Ave NW	0.23mi	3/1.5 (-1)	1,850 (+11%)	7mo	$225,838	$122	59
2407 Maryland Ave NW	0.37mi	4/2.0	1,464 (-12%)	6mo	$170,100	$116	57
1651 Syracuse Ave NW	0.74mi	5/1.5 (+1)	1,733 (+4%)	1mo	$130,000	$75	51
1034 Forest Park Blvd NW	0.33mi	3/1.0 (-1)	1,495 (-10%)	9mo	$160,000	$107	51
2331 Orange Ave NW	0.50mi	4/1.0	1,860 (+11%)	6mo	$85,000	$46	49
1629 Golfside Ave NW	0.52mi	3/3.0 (-1)	1,494 (-10%)	2mo	$155,000	$104	48
3038 Cove Rd NW	0.53mi	3/1.0 (-1)	1,508 (-10%)	9mo	$130,000	$86	43
1516 Fresno St NW	0.44mi	5/1.0 (+1)	1,890 (+13%)	7mo	$141,000	$75	42
1314 22nd St NW	0.37mi	3/1.0 (-1)	1,916 (+15%)	8mo	$93,600	$49	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.71% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.61×
• Total profit: $-20,027
• Equity at exit: $27,584

10-year hold

• IRR: 2.3%
• Equity multiple: 1.18×
• Total profit: $9,327
• Equity at exit: $15,995

Cash invested: $51,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 24017

• Home prices YoY: -28.3%
• Rents YoY: 5.7%
• Active inventory: 152
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,639 high
• Mortgage (P&I): −$970
• Tax from tax record: −$163 /mo · $1,955/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $84

Break-even live

Break-even rent $1,532

Max offer price $185,000

Occupancy floor 90%

Sensitivity live

Price	-10% $189	-5% $137	+0% $84	+5% $32	+10% $-20
Rent	-10% $-45	-5% $20	+0% $84	+5% $149	+10% $214
Rate	-1.0pp $178	-0.5pp $132	base $84	+0.5pp $37	+1.0pp $-12

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2608 Florida Ave NW Roanoke, VA	3.0	1.0	1394	$1,600	$1.15	22d	1	0.18mi
911 Lafayette Blvd NW Roanoke, VA	5.0	1.0	2030	$1,416	$0.70	22d	1	0.38mi
2731 Cove Rd NW Roanoke, VA	3.0	2.5	1427	$1,523	$1.07	45d	1	0.41mi
733 29th St NW Roanoke, VA	2.0–3.0	2.0	1022	$1,625	$1.59	15d	4	0.67mi
1533 Rugby Blvd NW Roanoke, VA	3.0	1.0	1500	$1,475	$0.98	45d	1	0.91mi
1531 Syracuse Ave NW Roanoke, VA	3.0	1.0	1488	$1,675	$1.13	45d	1	0.93mi
3533 Ferncliff Ave NW Roanoke, VA	1.0–3.0	1.0	980	$1,426	$1.46	15d	11	1.11mi
821 12th St NW Roanoke, VA	3.0	2.0	1508	$1,625	$1.08	45d	1	1.30mi
1115 Grayson Ave NW Roanoke, VA	4.0	2.0	1094	$2,300	$2.10	45d	1	1.31mi
3802 Panorama Ave NW #12 Roanoke, VA	3.0	1.0	1100	$995	$0.90	45d	1	1.43mi
1630 Patterson Ave SW Unit B Roanoke, VA	3.0	1.0	1200	$1,395	$1.16	45d	1	1.49mi

Listing history 17 events

1. 2026-04-30
   status Pending
2. 2026-04-14
   listed $185,000 Active
3. 2015-02-05
   soldstatus $69,950
4. 2015-02-03
   soldstatus $69,950 297-char remark

   Show marketing remark (297 chars)

   Once in a while a home in great condition will come on the market that offers strong value in a desired location. Look no further. This well maintained, delightful home has 10 foot ceilings and a one acre lot. Ample space inside & out & great location makes this the ideal family home.

5. 2014-09-19
   listed $74,950 297-char remark

   Show marketing remark (297 chars)

   Once in a while a home in great condition will come on the market that offers strong value in a desired location. Look no further. This well maintained, delightful home has 10 foot ceilings and a one acre lot. Ample space inside & out & great location makes this the ideal family home.

6. 2011-09-18
   historical
7. 2011-03-22
   listed $84,950
8. 2010-09-15
   soldstatus $43,000
9. 2010-09-15
   soldstatus $43,000
10. 2009-12-04
    listed $54,900
11. 2009-06-30
    historical
12. 2008-11-04
    listed $69,950
13. 2008-01-08
    historical
14. 2007-07-08
    listed $88,000
15. 2007-04-19
    historical
16. 2007-04-11
    listed $88,000
17. 1973-07-09
    soldstatus $14,400

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $1,955 · $163/mo
• Projected year-2 tax: $1,955 · $163/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,666
• − Mortgage interest: −$10,363
• − Property taxes: −$1,955
• − Insurance: −$925
• − Repairs & maintenance: −$1,573
• − Management: −$1,573
• − Depreciation: −$5,382
• Taxable loss: −$2,106
• Est. tax savings @ 24.0%: +$505
• After-tax cash flow: $1,519/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Roanoke City Public School District
• NCES district ID: 5103300
• Math proficiency: 40% ▼ -38.00%
• Reading proficiency: 58% ▼ -12.00%
• Median HH income: $38,592
• Composite: 40.8/100
• National rank: #3639
• State rank: #102 of 131 in VA

Livability — Roanoke

• Score: 73/100
• State rank: #163
• US rank: #5055

Category grades

Amenities C- Commute F Cost of living A+ Crime F Employment D Housing A Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Roanoke, VA
• County: Roanoke City · 101,625 people
• City population: 168,930
• Metro: Roanoke, VA
• Population (ZIP): 23,678
• Household income: $47,360
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 913.0

Population outlook (Roanoke County) Hauer SSP2

• Today (2025): 106,094 people
• By 2030: 108,927 · +2.7%
• By 2040: 114,104 · +7.5%
• By 2050: 118,032 · +11.3%
• By 2075: 123,363 · +16.3%
• By 2100: 116,827 · +10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 59% White 25% Hispanic / Latino 9% Asian 4% Two or more races 4%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Slovak 1% Romanian 1% Lithuanian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 8% Other Indo-European 3% German/W. Germanic 1%

Political lean MEDSL · Roanoke

• 2024 margin: Strong D (+23.6) · D 61.1% · R 37.5% · Other 1.4%
• 2008→2024 swing: +0.2pp no change · 2008: 23.4pp · 2024: 23.6pp
• All cycles: 2024: D+23.6 2020: D+25.8 2016: D+17.6 2012: D+21.5 2008: D+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.29%
• Current HPI: 198.5991
• Rent YoY: ▲ 5.71%
• Metro: Roanoke, VA
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+1184.7% since first listed

17 events — show timeline

• 2026-04-30 Pending — MLSRV
• 2026-04-14 Listed $185,000 MLSRV
• 2015-02-05 Sold (Public Records) $69,950 Public Records
• 2015-02-03 Sold (MLS) $69,950 MLSRV
• 2014-09-19 Listed $74,950 MLSRV
• 2011-09-18 Listing Removed — MLSRV
• 2011-03-22 Listed $84,950 MLSRV
• 2010-09-15 Sold (Public Records) $43,000 Public Records
• 2010-09-15 Sold (MLS) $43,000 MLSRV
• 2009-12-04 Listed $54,900 MLSRV
• 2009-06-30 Listing Removed — MLSRV
• 2008-11-04 Listed $69,950 MLSRV
• 2008-01-08 Listing Removed — MLSRV
• 2007-07-08 Listed $88,000 MLSRV
• 2007-04-19 Listing Removed — MLSRV
• 2007-04-11 Listed $88,000 MLSRV
• 1973-07-09 Sold (Public Records) $14,400 Public Records

Property tax history

+8.6%/yr

Latest (2025): $1,955 · +18.0% YoY. Source: county tax records.