865 Olney Rd · Vinton, VA 24179

$259,000

3 bd · 2.5 ba · 1,404 sqft · SingleFamily public records · 54 Days on market

Built 1968 0.35 ac lot $184/sqft · 27% above area Est $304k · 15% under

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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).

• ARV discount +14.1/15.0
• Schools +6.4/10.0
• Cash flow +6.2/30.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perched on a sprawling 1-acre lot in the established Bali Hai Estates, 865 Olney Rd offers a rare opportunity to own a piece of Vinton's scenic landscape. This 1968 brick ranch is a diamond in the rough, boasting breathtaking, panoramic views that you truly have to see to believe. As an REO property, this home is priced to reflect its need for a full renovation. Whether you're an investor looking for your next project or a homeowner dreaming of a custom transformation, the ''bones'' are here to work with. Updated pictures soon.

Key facts

• Panoramic views
• Full renovation
• 1 acre lot

Tags

• 1 ACRE LOT
• PANORAMIC VIEWS
• FULL RENOVATION

Property features AI

Exterior

• Parking: Paved driveway; No garage
• Utilities: Public water; Public sewer
• Home design: Two-story house; Entry level is first floor; Resale property; R1 zoning
• Construction: Brick and drywall construction; Composition roof; Below-grade finished and unfinished areas present
• Exterior features: Deck; Rear porch; Paved driveway

Interior

• Kitchen: Main kitchen on first floor; Basement kitchenette
• Bedrooms: At least one bedroom on the first floor; Additional finished rooms in the basement
• Flooring: Carpet; Wood
• Bathrooms: Two full bathrooms; One half bathroom; First-floor full bath with tub and shower
• Heating & cooling: Central air conditioning; Heating by baseboard and hot water; Natural gas heating
• Interior features: Fireplace (masonry); Bedroom on main level; Walk-out basement
• Laundry & utility: Washer hookup; Dryer hookup; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $-470 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (32.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (40.5% below list).
• Recommended offer: $154k (40.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#61 in VA, #1,742 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Roanoke County Public School District (suburban): math 71% / reading 78% proficiency, ranked #9 of 131 in VA (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 158 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 360 units permitted in Roanoke County in 2024 (228 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Roanoke County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $104k; list at $259k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,097 (40.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.59% ✗
• Cap rate: 4.12%
• Cash-on-cash: -7.78%
• DSCR: 0.65
• GRM: 14.0

CMA / ARV

• ARV (median comp): $303,712
• List price: $259,000
• Delta: -14.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
805 Gates Ln NE	0.08mi	3/2.0	1,459 (+4%)	15mo	$339,000	$232	75
1036 Jeanette Ave	0.48mi	3/1.0	1,465 (+4%)	0mo	$245,000	$167	64
1521 Bush Farm Dr	0.33mi	3/2.5	1,329 (-5%)	17mo	$312,000	$235	62
735 Gates Ln NE	0.18mi	2/1.0 (-1)	1,433 (+2%)	23mo	$180,000	$126	58
314 Lynn Haven Cir	0.61mi	3/2.5	1,535 (+9%)	4mo	$261,000	$170	53
305 N Blair St	0.67mi	2/2.0 (-1)	1,399 (-0%)	14mo	$262,500	$188	49
2912 Vinyard Ave NE	0.64mi	3/2.0	1,295 (-8%)	11mo	$280,000	$216	46
226 Savannah Dr NE	0.60mi	3/2.0	1,596 (+14%)	5mo	$435,000	$273	43
501 Holiday Rd	0.48mi	3/2.0	1,524 (+8%)	24mo	$246,000	$161	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -30.0%
• Equity multiple: 0.01×
• Total profit: $-71,947
• Equity at exit: $38,618

10-year hold

• IRR: -31.4%
• Equity multiple: -0.40×
• Total profit: $-101,361
• Equity at exit: $22,394

Cash invested: $72,520 (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 24179

• Active inventory: 158
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $1,541 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$221 /mo · $2,655/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $-470

Break-even live

Break-even rent $2,136

Max offer price $175,963

Occupancy floor —

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 Bowman St Unit 212 Vinton, VA	2.0	1.0	1246	$850	$0.68	21d	1	0.58mi
2812 Vinyard Ave NE Unit 2 Roanoke, VA	2.0	1.0	950	$1,295	$1.36	21d	1	0.68mi
2802 Vinyard Ave NE Unit 2 Roanoke, VA	2.0	1.0	950	$1,295	$1.36	13d	1	0.70mi
528 E Cleveland Ave Unit 5 Vinton, VA	2.0	1.0	889	$1,495	$1.68	43d	1	0.83mi
528 E Cleveland Ave Unit 6 Vinton, VA	2.0	1.0	875	$1,525	$1.74	43d	1	0.83mi
317 Jefferson Ave Vinton, VA	2.0	1.0	980	$1,525	$1.56	43d	1	1.00mi
3343 Glade Creek Blvd NE Roanoke, VA	1.0–3.0	1.0–2.0	1131	$2,230	$1.97	13d	28	1.03mi
3006 Hickory Woods Dr NE Roanoke, VA	1.0–3.0	1.0–2.0	922	$1,890	$2.05	13d	20	1.10mi
233 W Cleveland Ave Vinton, VA	2.0	1.0	1270	$1,250	$0.98	43d	1	1.27mi

Listing history 18 events

1. 2026-06-18
   days on market $259,000 Active 54 DOM
2. 2026-06-17
   days on market $259,000 Active 53 DOM
3. 2026-06-16
   days on market $259,000 Active 52 DOM
4. 2026-06-15
   days on market $259,000 Active 51 DOM
5. 2026-06-14
   days on market $259,000 Active 49 DOM
6. 2026-06-13
   pricedays on market $259,000 Active 48 DOM
7. 2026-06-10
   days on market $260,000 Active 46 DOM
8. 2026-06-09
   days on market $260,000 Active 45 DOM
9. 2026-06-08
   days on market $260,000 Active 44 DOM
10. 2026-06-05
    days on market $260,000 Active 40 DOM
11. 2026-06-02
    days on market $260,000 Active 38 DOM
12. 2026-06-01
    days on market $260,000 Active 37 DOM
13. 2026-05-31
    days on market $260,000 Active 36 DOM
14. 2026-05-30
    days on market $260,000 Active 35 DOM
15. 2026-04-25
    listed $269,000 Active 530-char remark

    Show marketing remark (533 chars)

    Perched on a sprawling 1-acre lot in the established Bali Hai Estates, 865 Olney Rd offers a rare opportunity to own a piece of Vinton's scenic landscape. This 1968 brick ranch is a diamond in the rough, boasting breathtaking, panoramic views that you truly have to see to believe. As an REO property, this home is priced to reflect its need for a full renovation. Whether you're an investor looking for your next project or a homeowner dreaming of a custom transformation, the ''bones'' are here to work with. Updated pictures soon.

16. 2026-04-25
    listed $269,000 Active 533-char remark

    Show marketing remark (533 chars)

    Perched on a sprawling 1-acre lot in the established Bali Hai Estates, 865 Olney Rd offers a rare opportunity to own a piece of Vinton's scenic landscape. This 1968 brick ranch is a diamond in the rough, boasting breathtaking, panoramic views that you truly have to see to believe. As an REO property, this home is priced to reflect its need for a full renovation. Whether you're an investor looking for your next project or a homeowner dreaming of a custom transformation, the ''bones'' are here to work with. Updated pictures soon.

17. 1994-05-01
    soldstatus $104,000
18. 1989-10-01
    soldstatus $88,500

ⓘ 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: $2,655 · $221/mo
• Projected year-2 tax: $2,655 · $221/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,492
• − Mortgage interest: −$14,508
• − Property taxes: −$2,655
• − Insurance: −$1,295
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − Depreciation: −$7,535
• Taxable loss: −$10,460
• Est. tax savings @ 24.0%: +$2,510
• After-tax cash flow: $-3,130/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 County Public School District
• NCES district ID: 5103330
• Math proficiency: 71% ▼ -19.00%
• Reading proficiency: 78% ▼ -6.00%
• Median HH income: $60,526
• Composite: 64.08/100
• National rank: #578
• State rank: #9 of 131 in VA

Livability — Vinton

• Score: 80/100
• State rank: #61
• US rank: #1742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vinton, VA
• Population (ZIP): 18,834

Population outlook (Roanoke County) Hauer SSP2

• Today (2025): 98,162 people
• By 2030: 99,793 · +1.7%
• By 2040: 101,965 · +3.9%
• By 2050: 103,328 · +5.3%
• By 2075: 108,641 · +10.7%
• By 2100: 104,845 · +6.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Roanoke

• 2024 margin: Strong R (+22.5) · D 38.2% · R 60.7% · Other 1.1%
• 2008→2024 swing: -1.4pp toward R · 2008: -21.1pp · 2024: -22.5pp
• All cycles: 2024: R+22.5 2020: R+21.8 2016: R+28.1 2012: R+25.6 2008: R+21.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.89%
• Current HPI: 186.9964
• Rent YoY: —
• Metro: —
• 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

+192.7% since first listed

6 events — show timeline

• 2026-06-10 Price Changed $259,000 CVRMLS
• 2026-05-28 Price Changed $260,000 CVRMLS
• 2026-04-25 Listed $269,000 MLSRV
• 2026-04-25 Listed $269,000 CVRMLS
• 1994-05-01 Sold (Public Records) $104,000 Public Records
• 1989-10-01 Sold (Public Records) $88,500 Public Records

Property tax history

+4.3%/yr

Latest (2025): $2,655 · +4.9% YoY. Source: county tax records.