3417 Garden City Blvd SE · Roanoke, VA 24014

$111,750

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 2 Days on market

Built 1942 8,276 sqft lot Est $176k · 37% under

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Why this score? — see what drove the C+ 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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +6.2/10.0
• Rent growth +4.7/5.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute brick home with endless potential on Garden City Blvd! This 2-bedroom, 1-bath property offers classic charm along with great investment possibilities. Whether you're looking for your next remodel project, flip opportunity, or rental property, this home checks the boxes. The spacious fenced backyard, off-street parking, basement storage, and walk-up attic add flexibility and functionality. Potential to convert to a 3-bedroom layout for added value. Bring your vision and make this property shine!

Key facts

• Brick home
• Basement storage
• Off-street parking

Tags

• BRICK HOME
• SPACIOUS FENCED BACKYARD
• OFF-STREET PARKING
• BASEMENT STORAGE
• WALK-UP ATTIC

Property features AI

Exterior

• Parking: 2 open parking spaces
• Home design: Residential property; Built in 1942
• Exterior features: Off-street parking

Interior

• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Wood
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Heat pump (electric) for heating and cooling; Forced air oil heating
• Interior features: Wood flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Cap rate 7.9% 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: Garden City Elementary (math 52% / reading 57%, grade C, #650 of 1,108 statewide, top 62%, 304 students, 98% FRL); John P. Fishwick Middle (math 33% / reading 60%, grade D+, #264 of 342 statewide, top 77%, 501 students, 98% FRL); Patrick Henry High (math 57% / reading 77%, grade B, #185 of 319 statewide, top 61%, 2,005 students, 95% 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 (+8.8%/yr); 155 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 113 units permitted in Roanoke city in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $772 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $37k; list at $112k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,750

Questions for the listing agent

1. Built in 1942 — 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. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.78%
• DSCR: 1.26
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $176,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1147 Tipton Ave SE	0.15mi	2/1.0	1,050 (+4%)	4mo	$179,950	$171	83
1131 Ethel Rd SE	0.13mi	3/1.0 (+1)	1,010 (+0%)	11mo	$151,500	$150	80
3302 Troxell Rd SE	0.17mi	2/1.0	935 (-7%)	1mo	$148,555	$159	79
3760 Melcher St SE	0.36mi	2/1.0	1,041 (+3%)	6mo	$198,900	$191	73
3724 Bear Rd SE	0.34mi	2/1.0	1,050 (+4%)	14mo	$159,300	$152	66
1023 Ethel Rd SE	0.24mi	2/1.5	960 (-5%)	22mo	$188,300	$196	60
3821 Yellow Mountain Rd SE	0.41mi	2/1.0	1,086 (+8%)	18mo	$165,000	$152	53
3839 Welcome Valley Rd SE	0.69mi	2/1.0	970 (-4%)	12mo	$130,000	$134	51
3756 Melcher St SE	0.35mi	2/1.0	918 (-9%)	23mo	$180,000	$196	50
1028 Markham Cir SE	0.59mi	3/1.0 (+1)	1,033 (+2%)	17mo	$181,000	$175	49
3715 Melcher St SE	0.25mi	3/2.0 (+1)	1,120 (+11%)	14mo	$256,500	$229	49
1631 Eanes Rd	0.47mi	3/1.5 (+1)	1,144 (+14%)	3mo	$269,000	$235	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.94×
• Total profit: $-1,844
• Equity at exit: $16,662

10-year hold

• IRR: 13.2%
• Equity multiple: 2.31×
• Total profit: $41,041
• Equity at exit: $9,662

Cash invested: $31,290 (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 24014

• Rents YoY: 8.8%
• Active inventory: 155
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,249 medium
• Mortgage (P&I): −$586
• Tax from tax record: −$203 /mo · $2,440/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $151

Break-even live

Break-even rent $1,058

Max offer price $111,750

Occupancy floor 83%

Sensitivity live

Price	-10% $214	-5% $182	+0% $151	+5% $119	+10% $88
Rent	-10% $52	-5% $101	+0% $151	+5% $200	+10% $249
Rate	-1.0pp $207	-0.5pp $179	base $151	+0.5pp $122	+1.0pp $92

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: $27,938
• Closing costs: $3,352
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3517 Troxell Rd SE Unit 3519 Roanoke, VA	2.0	1.0	870	$1,260	$1.45	44d	1	0.14mi
3517 Troxell Rd SE Roanoke, VA	2.0	1.0	870	$1,260	$1.45	21d	1	0.14mi
4335 Yellow Mountain Rd Unit 2 Roanoke, VA	1.0	1.0	730	$825	$1.13	44d	1	0.81mi
3332 Mount Pleasant Blvd Roanoke, VA	1.0	1.0	820	$1,350	$1.65	21d	1	1.29mi

Listing history 3 events

1. 2026-05-13
   status Pending
2. 2026-05-11
   listed $111,750 Active
3. 1990-05-03
   soldstatus $37,000

ⓘ 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: $2,440 · $203/mo
• Projected year-2 tax: $2,440 · $203/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 ≥99°F today · 20 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: $14,989
• − Mortgage interest: −$6,260
• − Property taxes: −$2,440
• − Insurance: −$559
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$3,251
• Taxable income: $81
• Est. tax owed @ 24.0%: −$19
• After-tax cash flow: $1,790/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): 15,300
• Household income: $70,381
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 209.0

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: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Black 5% Hispanic / Latino 5% Asian 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -344.06%
• Current HPI: 173.6728
• Rent YoY: ▲ 8.80%
• 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

+202.0% since first listed

3 events — show timeline

• 2026-05-13 Pending — MLSRV
• 2026-05-11 Listed $111,750 MLSRV
• 1990-05-03 Sold (Public Records) $37,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,440 · +10.8% YoY. Source: county tax records.