1936 Willis St · Salem, VA 24153

$157,500

3 bd · 1.0 ba · 1,432 sqft · SingleFamily public records · 122 Days on market

Built 1920 0.40 ac lot Est $238k · 34% under

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Why this score? — see what drove the B- 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 +22.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.7/10.0
• Schools +5.7/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This adorable, updated home has so much to offer with 1,432 sq. ft, 3 bedrooms and 1 bath in a great neighborhood and with great schools! Brand new floors throughout, New carpet upstairs, New windows, New custom kitchen cabinets, Fresh paint and so much more! You don't want to miss out on this one, come see it today before it's gone!

Key facts

• 0.4 acre lot
• Built 1920
• Listed 122 days

Property features AI

Finance

• Other: Listed by PRIME REAL ESTATE SERVICES INC
• Financial info: Parcel number 79-3-7

Exterior

• Utilities: Has heating; Has cooling
• Home design: Residential property; Built in 1920
• Construction: Built in 1920
• Exterior features: 0.4-acre lot

Interior

• Bedrooms: 3 bedrooms total; 1 bedroom on the main level
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 bathroom on the main level
• Heating & cooling: Forced air gas heating; Has cooling
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $158k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $158k).
• Recommended offer: $139k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.9% in Salem — 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 77/100 on livability (#104 in VA, #3,257 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Salem City Public School District (suburban): math 61% / reading 74% proficiency, ranked #35 of 131 in VA (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: East Salem Elementary (math 52% / reading 67%, grade B-, #536 of 1,108 statewide, top 51%, 409 students, 73% FRL); Andrew Lewis Middle (math 57% / reading 72%, grade A-, #123 of 342 statewide, top 37%, 895 students, 44% FRL); Salem High (math 64% / reading 91%, grade A-, #83 of 319 statewide, top 28%, 1,227 students, 39% FRL) — zoned schools average 52% FRL vs 27% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.0%/yr); 271 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 268 units permitted in Salem city in 2024 (248 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Salem County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $44k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y ago; this cycle's ask has dropped $42k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.07% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.45%
• DSCR: 1.33
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $237,712
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
845 Pinewood Dr NW	0.35mi	3/1.0	1,405 (-2%)	8mo	$251,000	$179	74
5204 Salem Tpke NW	0.49mi	3/2.0	1,490 (+4%)	2mo	$160,000	$107	65
1008 Glenn Ridge Rd NW	0.62mi	3/2.0	1,421 (-1%)	6mo	$245,000	$172	61
822 Brownwood Dr NW	0.42mi	3/1.0	1,516 (+6%)	12mo	$195,000	$129	61
4507 Surrey Ave NW	0.59mi	3/1.0	1,354 (-5%)	5mo	$110,000	$81	59
5033 Youngwood Dr NW	0.65mi	3/1.5	1,372 (-4%)	3mo	$245,050	$179	58
987 Mountain Rd NW	0.39mi	3/1.0	1,268 (-12%)	10mo	$199,000	$157	55
931 Hedgewood Dr NW	0.35mi	4/2.0 (+1)	1,536 (+7%)	11mo	$235,000	$153	54
1723 Victoria St	0.37mi	3/1.5	1,283 (-10%)	12mo	$240,000	$187	54
5027 Morwanda St NW	0.33mi	2/1.0 (-1)	1,244 (-13%)	6mo	$175,500	$141	52
4305 Camille Ave NW	0.67mi	3/2.0	1,285 (-10%)	4mo	$259,950	$202	45
1634 Sigmon Rd NW	0.72mi	3/2.0	1,633 (+14%)	11mo	$271,000	$166	30

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 · 5.98% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.93×
• Total profit: $-2,869
• Equity at exit: $23,484

10-year hold

• IRR: 10.9%
• Equity multiple: 1.97×
• Total profit: $42,682
• Equity at exit: $13,618

Cash invested: $44,100 (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 24153

• Rents YoY: 6.0%
• Active inventory: 271
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,685 high
• Mortgage (P&I): −$826
• Tax from tax record: −$165 /mo · $1,984/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $274

Break-even live

Break-even rent $1,338

Max offer price $157,500

Occupancy floor 79%

Sensitivity live

Price	-10% $363	-5% $318	+0% $274	+5% $229	+10% $185
Rent	-10% $141	-5% $207	+0% $274	+5% $340	+10% $407
Rate	-1.0pp $353	-0.5pp $314	base $274	+0.5pp $233	+1.0pp $192

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: $39,375
• Closing costs: $4,725
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4310 Tyree Rd NW Roanoke, VA	3.0	1.0	913	$1,650	$1.81	14d	1	0.87mi
4626 Autumn Ln NW Roanoke, VA	3.0	2.5	1408	$1,999	$1.42	14d	1	0.91mi
3802 Panorama Ave NW #6 Roanoke, VA	2.0	1.0	900	$1,050	$1.17	44d	1	1.19mi
3802 Panorama Ave NW #12 Roanoke, VA	3.0	1.0	1100	$995	$0.90	44d	1	1.19mi
3802 Panorama Ave NW #2 Roanoke, VA	2.0	1.0	900	$995	$1.11	44d	1	1.19mi
328 Woodside Dr Salem, VA	3.0	2.5	1408	$1,999	$1.42	21d	1	1.24mi
900 Camelot Dr Salem, VA	1.0–3.0	1.0–1.5	905	$1,760	$1.94	14d	10	1.25mi
128 Rutledge Dr Salem, VA	1.0–3.0	1.0–2.0	822	$1,505	$1.83	14d	13	1.48mi

Listing history 28 events

1. 2026-06-13
   statusdays on market $157,500 Pending 122 DOM
2. 2026-06-10
   days on market $157,500 Active 121 DOM
3. 2026-06-09
   days on market $157,500 Active 120 DOM
4. 2026-06-08
   days on market $157,500 Active 119 DOM
5. 2026-06-03
   days on market $157,500 Active 114 DOM
6. 2026-06-02
   days on market $157,500 Active 113 DOM
7. 2026-06-01
   days on market $157,500 Active 112 DOM
8. 2026-05-31
   days on market $157,500 Active 111 DOM
9. 2026-05-30
   days on market $157,500 Active 110 DOM
10. 2026-05-21
    status Active
11. 2026-03-17
    status Pending
12. 2026-02-20
    price $157,500
13. 2026-01-22
    price $180,000
14. 2025-12-05
    listed $200,000 Active
15. 2025-08-15
    soldstatus $206,897
16. 2023-03-24
    soldstatus $185,000 Closed 335-char remark

    Show marketing remark (335 chars)

    This adorable, updated home has so much to offer with 1,432 sq. ft, 3 bedrooms and 1 bath in a great neighborhood and with great schools! Brand new floors throughout, New carpet upstairs, New windows, New custom kitchen cabinets, Fresh paint and so much more! You don't want to miss out on this one, come see it today before it's gone!

17. 2023-02-13
    status Pending 335-char remark

    Show marketing remark (335 chars)

    This adorable, updated home has so much to offer with 1,432 sq. ft, 3 bedrooms and 1 bath in a great neighborhood and with great schools! Brand new floors throughout, New carpet upstairs, New windows, New custom kitchen cabinets, Fresh paint and so much more! You don't want to miss out on this one, come see it today before it's gone!

18. 2023-01-20
    price $187,000 335-char remark

    Show marketing remark (335 chars)

    This adorable, updated home has so much to offer with 1,432 sq. ft, 3 bedrooms and 1 bath in a great neighborhood and with great schools! Brand new floors throughout, New carpet upstairs, New windows, New custom kitchen cabinets, Fresh paint and so much more! You don't want to miss out on this one, come see it today before it's gone!

19. 2023-01-04
    price $197,000 335-char remark

    Show marketing remark (335 chars)

    This adorable, updated home has so much to offer with 1,432 sq. ft, 3 bedrooms and 1 bath in a great neighborhood and with great schools! Brand new floors throughout, New carpet upstairs, New windows, New custom kitchen cabinets, Fresh paint and so much more! You don't want to miss out on this one, come see it today before it's gone!

20. 2022-11-09
    listed $200,000 Active 335-char remark

    Show marketing remark (335 chars)

    This adorable, updated home has so much to offer with 1,432 sq. ft, 3 bedrooms and 1 bath in a great neighborhood and with great schools! Brand new floors throughout, New carpet upstairs, New windows, New custom kitchen cabinets, Fresh paint and so much more! You don't want to miss out on this one, come see it today before it's gone!

21. 2004-08-24
    soldstatus $65,000
22. 2004-08-23
    soldstatus $65,000 110-char remark

    Show marketing remark (110 chars)

    HOUSE SOLD AS IS AND WHERE IS CALL AGENT FOR ADDENDUMBS BEFORE WRITING OFFERS $1000 MINIMUM DEPOSIT WITH OFFER

23. 2004-07-16
    listed $65,000 110-char remark

    Show marketing remark (110 chars)

    HOUSE SOLD AS IS AND WHERE IS CALL AGENT FOR ADDENDUMBS BEFORE WRITING OFFERS $1000 MINIMUM DEPOSIT WITH OFFER

24. 2004-07-12
    soldstatus $65,260
25. 2004-02-06
    historical
26. 2003-11-06
    listed $74,900
27. 2000-06-26
    soldstatus $83,000
28. 1999-09-08
    listed $72,950

ⓘ 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: $1,984 · $165/mo
• Projected year-2 tax: $1,984 · $165/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 · 16 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: $20,214
• − Mortgage interest: −$8,822
• − Property taxes: −$1,984
• − Insurance: −$788
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − Depreciation: −$4,582
• Taxable income: $805
• Est. tax owed @ 24.0%: −$193
• After-tax cash flow: $3,094/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: Salem City Public School District
• NCES district ID: 5103460
• Math proficiency: 61% ▼ -21.00%
• Reading proficiency: 74% ▼ -7.00%
• Median HH income: $49,976
• Composite: 57.25/100
• National rank: #1092
• State rank: #35 of 131 in VA

Livability — Salem

• Score: 77/100
• State rank: #104
• US rank: #3257

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, VA
• County: Salem City · 38,914 people
• City population: 38,914
• Metro: Roanoke, VA
• Population (ZIP): 38,914
• Household income: $74,260
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 1115.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 26,761 people
• By 2030: 27,543 · +2.9%
• By 2040: 29,174 · +9.0%
• By 2050: 30,902 · +15.5%
• By 2075: 35,530 · +32.8%
• By 2100: 39,381 · +47.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 6% Hispanic / Latino 4% Two or more races 4% Asian 2%
• Common ancestry: Serbian 2% Slovak 2% Romanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.3) · D 39.8% · R 59.1% · Other 1.1%
• 2008→2024 swing: -3.8pp toward R · 2008: -15.5pp · 2024: -19.3pp
• All cycles: 2024: R+19.3 2020: R+19.4 2016: R+24.8 2012: R+20.6 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -259.46%
• Current HPI: 170.8986
• Rent YoY: ▲ 5.98%
• 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

+115.9% since first listed

19 events — show timeline

• 2026-05-21 Relisted — MLSRV
• 2026-03-17 Pending — MLSRV
• 2026-02-20 Price Changed $157,500 MLSRV
• 2026-01-22 Price Changed $180,000 MLSRV
• 2025-12-05 Listed $200,000 MLSRV
• 2025-08-15 Sold (Public Records) $206,897 Public Records
• 2023-03-24 Sold (MLS) $185,000 MLSRV
• 2023-02-13 Pending — MLSRV
• 2023-01-20 Price Changed $187,000 MLSRV
• 2023-01-04 Price Changed $197,000 MLSRV
• 2022-11-09 Listed $200,000 MLSRV
• 2004-08-24 Sold (Public Records) $65,000 Public Records
• 2004-08-23 Sold (MLS) $65,000 MLSRV
• 2004-07-16 Listed $65,000 MLSRV
• 2004-07-12 Sold (Public Records) $65,260 Public Records
• 2004-02-06 Listing Removed — MLSRV
• 2003-11-06 Listed $74,900 MLSRV
• 2000-06-26 Sold (MLS) $83,000 MLSRV
• 1999-09-08 Listed $72,950 MLSRV

Property tax history

+6.1%/yr

Latest (2025): $1,984 · +8.5% YoY. Source: county tax records.