629 Highland Ave SE · Roanoke, VA 24013

$199,000

3 bd · 2.0 ba · 1,818 sqft · SingleFamily public records · 56 Days on market

Built 1900 5,227 sqft lot $109/sqft · at area comps Est $192k · at est.

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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 +18.3/30.0
• ARV discount +5.8/15.0
• DSCR +5.7/10.0
• 1% rule +4.2/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious and well-maintained 4-bedroom, 2.5-bath home ideally located near downtown and local hospitals! This inviting property offers a functional layout filled with natural light and generously sized rooms throughout. Each bedroom features ample closet space, while the primary suite includes a private full bath for added comfort. Enjoy relaxing on the large covered front porch or entertaining in the flat backyard, now enhanced with a brand new fully fenced privacy fence--perfect for pets, play, or gatherings. Major updates include a newer roof and upstairs HVAC, both replaced just four years ago. A wonderful blend of convenience, space, and charm in a prime Roanoke location!

Key facts

• 5,227 sq ft lot
• Built 1900
• Listed 56 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/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 $184k (7.8% below list).
• Recommended offer: $184k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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.
• Market conditions: 77 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 43% of the median local income ($51k/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 56 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,500 (7.8% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.92% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.92%
• DSCR: 1.17
• GRM: 9.0

CMA / ARV

• ARV (median comp): $191,784
• List price: $199,000
• Delta: 3.76%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
624 Albemarle Ave SE	0.05mi	4/2.0 (+1)	1,698 (-7%)	3mo	$65,000	$38	79
703 Elm Ave SE	0.17mi	3/2.0	1,678 (-8%)	2mo	$169,900	$101	77
670 Murray Ave SE	0.09mi	3/1.5	2,083 (+15%)	2mo	$210,000	$101	68
1001 Woodrow Ave SE	0.51mi	3/2.0	1,939 (+7%)	2mo	$234,950	$121	64
620 Riverland Rd SE	0.53mi	3/1.0	1,856 (+2%)	6mo	$130,000	$70	63
919 Dale Ave SE	0.45mi	2/1.0 (-1)	1,920 (+6%)	4mo	$102,000	$53	57
1433 Morehead Ave SE	0.41mi	3/1.0	2,000 (+10%)	6mo	$175,000	$88	55
1248 Pechin Ave SE	0.71mi	3/1.0	1,780 (-2%)	5mo	$169,950	$95	55
1234 Hamilton Ter SE	0.59mi	3/2.0	2,000 (+10%)	4mo	$245,000	$123	52
1401 Morehead Ave SE	0.36mi	4/1.0 (+1)	2,048 (+13%)	2mo	$185,000	$90	52
1332 Morningside St SE	0.53mi	2/1.0 (-1)	1,614 (-11%)	2mo	$119,900	$74	46
128 10 1/2 St SE	0.68mi	3/1.0	1,657 (-9%)	6mo	$155,000	$94	45

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: -10.2%
• Equity multiple: 0.63×
• Total profit: $-20,696
• Equity at exit: $29,672

10-year hold

• IRR: -0.8%
• Equity multiple: 0.94×
• Total profit: $-3,255
• Equity at exit: $17,206

Cash invested: $55,720 (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 24013

• Home prices YoY: -18.0%
• Active inventory: 77
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,835 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$141 /mo · $1,694/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $182

Break-even live

Break-even rent $1,605

Max offer price $199,000

Occupancy floor 85%

Sensitivity live

Price	-10% $295	-5% $238	+0% $182	+5% $126	+10% $69
Rent	-10% $37	-5% $109	+0% $182	+5% $254	+10% $327
Rate	-1.0pp $282	-0.5pp $233	base $182	+0.5pp $130	+1.0pp $78

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
606 Riverland Rd SE Unit Roanoke Roanoke, VA	3.0	2.0	2300	$1,950	$0.85	45d	1	0.48mi
770 Riverland Rd SE Unit A Roanoke, VA	4.0	3.0	2400	$3,200	$1.33	45d	1	0.64mi
909 13th St SE Roanoke, VA	3.0	1.0	1870	$1,199	$0.64	45d	1	0.71mi
1817 Dale Ave SE Roanoke, VA	3.0	1.0	1820	$2,100	$1.15	45d	1	0.98mi
430 Day Ave SW Unit A Roanoke, VA	2.0	1.0	1444	$1,650	$1.14	45d	1	1.01mi
216 Patton Ave NW Unit 2 Roanoke, VA	2.0	1.0	1240	$1,025	$0.83	22d	1	1.13mi
119 18th St SE Roanoke, VA	4.0	2.0	2104	$1,500	$0.71	14d	1	1.15mi
602 Elm Ave Unit B Roanoke, VA	2.0	1.0	1804	$1,250	$0.69	45d	1	1.18mi
1922 Catawba St SE Roanoke, VA	4.0	1.0	1629	$2,000	$1.23	22d	1	1.34mi
701 Salem Ave SW Roanoke, VA	2.0	1.0	1250	$1,950	$1.56	45d	1	1.37mi
1 23rd St SW #9 Roanoke, VA	3.0	2.0	1961	$2,150	$1.10	22d	1	1.39mi

Listing history 20 events

1. 2026-06-08
   statusdays on market $199,000 Pending 56 DOM
2. 2026-06-05
   days on market $199,000 Active 55 DOM
3. 2026-06-03
   days on market $199,000 Active 54 DOM
4. 2026-06-02
   days on market $199,000 Active 53 DOM
5. 2026-06-01
   days on market $199,000 Active 52 DOM
6. 2026-05-31
   days on market $199,000 Active 51 DOM
7. 2026-05-30
   days on market $199,000 Active 50 DOM
8. 2026-04-06
   listed $210,000 Active 685-char remark

   Show marketing remark (685 chars)

   Spacious and well-maintained 4-bedroom, 2.5-bath home ideally located near downtown and local hospitals! This inviting property offers a functional layout filled with natural light and generously sized rooms throughout. Each bedroom features ample closet space, while the primary suite includes a private full bath for added comfort. Enjoy relaxing on the large covered front porch or entertaining in the flat backyard, now enhanced with a brand new fully fenced privacy fence--perfect for pets, play, or gatherings. Major updates include a newer roof and upstairs HVAC, both replaced just four years ago. A wonderful blend of convenience, space, and charm in a prime Roanoke location!

9. 2025-12-26
   soldstatus $205,000 Closed 1166-char remark

   Show marketing remark (1166 chars)

   Charming 4-Bedroom, 2.5-Bath Home Near Downtown and Hospitals! Welcome to your next home a spacious and beautifully maintained 4-bedroom, 2.5-bath residence offering comfort, convenience, and character throughout. Inside, you'll find generously sized rooms with plenty of natural light and thoughtful layout. Each bedroom provides ample closet space, perfect for storage and organization. The primary suite features its own full bath, creating a private retreat for the homeowner. Large covered front porch. The home has been well cared for with major updates already completed — the roof was replaced just four years ago, along with the upstairs HVAC unit, giving you peace of mind for years to come. Step outside to a flat, fully usable backyard that's ideal for kids, pets, or entertaining A detached two-car garage with off-street parking provides added convenience and functionality. Located just minutes from downtown and close to local hospitals, this home offers the perfect balance of city access and neighborhood privacy. Whether you're commuting, dining out, or enjoying local events, you'll love the easy access to everything Roanoke has to offer!

10. 2025-12-22
    soldstatus $205,000
11. 2025-11-05
    status Pending 1166-char remark

    Show marketing remark (1166 chars)

    Charming 4-Bedroom, 2.5-Bath Home Near Downtown and Hospitals! Welcome to your next home a spacious and beautifully maintained 4-bedroom, 2.5-bath residence offering comfort, convenience, and character throughout. Inside, you'll find generously sized rooms with plenty of natural light and thoughtful layout. Each bedroom provides ample closet space, perfect for storage and organization. The primary suite features its own full bath, creating a private retreat for the homeowner. Large covered front porch. The home has been well cared for with major updates already completed — the roof was replaced just four years ago, along with the upstairs HVAC unit, giving you peace of mind for years to come. Step outside to a flat, fully usable backyard that's ideal for kids, pets, or entertaining A detached two-car garage with off-street parking provides added convenience and functionality. Located just minutes from downtown and close to local hospitals, this home offers the perfect balance of city access and neighborhood privacy. Whether you're commuting, dining out, or enjoying local events, you'll love the easy access to everything Roanoke has to offer!

12. 2025-10-27
    price $199,900 1166-char remark

    Show marketing remark (1166 chars)

    Charming 4-Bedroom, 2.5-Bath Home Near Downtown and Hospitals! Welcome to your next home a spacious and beautifully maintained 4-bedroom, 2.5-bath residence offering comfort, convenience, and character throughout. Inside, you'll find generously sized rooms with plenty of natural light and thoughtful layout. Each bedroom provides ample closet space, perfect for storage and organization. The primary suite features its own full bath, creating a private retreat for the homeowner. Large covered front porch. The home has been well cared for with major updates already completed — the roof was replaced just four years ago, along with the upstairs HVAC unit, giving you peace of mind for years to come. Step outside to a flat, fully usable backyard that's ideal for kids, pets, or entertaining A detached two-car garage with off-street parking provides added convenience and functionality. Located just minutes from downtown and close to local hospitals, this home offers the perfect balance of city access and neighborhood privacy. Whether you're commuting, dining out, or enjoying local events, you'll love the easy access to everything Roanoke has to offer!

13. 2025-10-15
    listed $209,000 Active 1166-char remark

    Show marketing remark (1166 chars)

    Charming 4-Bedroom, 2.5-Bath Home Near Downtown and Hospitals! Welcome to your next home a spacious and beautifully maintained 4-bedroom, 2.5-bath residence offering comfort, convenience, and character throughout. Inside, you'll find generously sized rooms with plenty of natural light and thoughtful layout. Each bedroom provides ample closet space, perfect for storage and organization. The primary suite features its own full bath, creating a private retreat for the homeowner. Large covered front porch. The home has been well cared for with major updates already completed — the roof was replaced just four years ago, along with the upstairs HVAC unit, giving you peace of mind for years to come. Step outside to a flat, fully usable backyard that's ideal for kids, pets, or entertaining A detached two-car garage with off-street parking provides added convenience and functionality. Located just minutes from downtown and close to local hospitals, this home offers the perfect balance of city access and neighborhood privacy. Whether you're commuting, dining out, or enjoying local events, you'll love the easy access to everything Roanoke has to offer!

14. 2005-03-18
    soldstatus $35,000
15. 2005-02-16
    soldstatus $35,000
16. 2005-02-16
    soldstatus $35,000
17. 2005-01-17
    historical
18. 2005-01-16
    listed $35,000
19. 2005-01-16
    listed $35,000
20. 1988-11-17
    soldstatus $18,000

ⓘ 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: $1,694 · $141/mo
• Projected year-2 tax: $1,694 · $141/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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 19 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: $22,020
• − Mortgage interest: −$11,147
• − Property taxes: −$1,694
• − Insurance: −$995
• − Repairs & maintenance: −$1,762
• − Management: −$1,762
• − Depreciation: −$5,789
• Taxable loss: −$1,129
• Est. tax savings @ 24.0%: +$271
• After-tax cash flow: $2,454/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): 8,026
• Household income: $51,290
• Rent vs Own: 56.3% rent · 43.7% own
• Severe rent burden: 345.0

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 0.59)
• Race & ethnicity: White 57% Black 29% Two or more races 9% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1% Cuban 2%
• Common ancestry: Slovak 2% Greek 1% German 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% Vietnamese 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: ▼ -49.00%
• Current HPI: 223.42
• Rent YoY: —
• 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

+1066.7% since first listed

13 events — show timeline

• 2026-04-06 Listed $210,000 MLSRV
• 2025-12-26 Sold (MLS) $205,000 MLSRV
• 2025-12-22 Sold (Public Records) $205,000 Public Records
• 2025-11-05 Pending — MLSRV
• 2025-10-27 Price Changed $199,900 MLSRV
• 2025-10-15 Listed $209,000 MLSRV
• 2005-03-18 Sold (MLS) $35,000 MLSRV
• 2005-02-16 Sold (Public Records) $35,000 Public Records
• 2005-02-16 Sold (Public Records) $35,000 Public Records
• 2005-01-17 Listing Removed — MLSRV
• 2005-01-16 Listed $35,000 MLSRV
• 2005-01-16 Listed $35,000 MLSRV
• 1988-11-17 Sold (Public Records) $18,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,694 · +20.2% YoY. Source: county tax records.