405 Harrison Ave NW · Roanoke, VA 24016

$125,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 232 Days on market

Built 1997 3,484 sqft lot $130/sqft · at area comps Est $121k · at est.

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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 +20.9/30.0
• DSCR +6.7/10.0
• ARV discount +5.9/15.0
• 1% rule +4.8/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large 2br room need minor upgrades seller would like to see someone to do sweat equity to enhance the property. large eat in kitchen Home built in 1997 great buy for right owner

Key facts

• 3,484 sq ft lot
• Built 1997
• Listed 232 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $174 ($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 $122k (2.5% below list).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: Rents flat; 89 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 113 units permitted in Roanoke city in 2024 (0 in 5+ unit buildings).
• This rent runs 31% 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 $864 of loan paydown is wiped out by about $4k 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 232 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y 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 $50k; list at $125k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 232 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.98% ✗
• Cap rate: 7.97%
• Cash-on-cash: 5.98%
• DSCR: 1.27
• GRM: 8.5

CMA / ARV

• ARV (median comp): $120,823
• List price: $125,000
• Delta: 3.46%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Patton Ave NW	0.20mi	3/1.0 (+1)	918 (-4%)	15mo	$125,000	$136	66
205 Harrison Ave NW	0.18mi	3/1.0 (+1)	1,077 (+12%)	17mo	$171,140	$159	52
934 Kellogg Ave NW	0.75mi	2/1.0	862 (-10%)	19mo	$140,000	$162	32

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 · 0.72% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-11,909
• Equity at exit: $18,638

10-year hold

• IRR: -3.3%
• Equity multiple: 0.80×
• Total profit: $-6,899
• Equity at exit: $10,808

Cash invested: $35,000 (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 24016

• Home prices YoY: -27.6%
• Rents YoY: 0.7%
• Active inventory: 89
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,219 high
• Mortgage (P&I): −$656
• Tax from tax record: −$81 /mo · $974/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $174

Break-even live

Break-even rent $998

Max offer price $125,000

Occupancy floor 81%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Rutherford Ave NW Roanoke, VA	3.0	1.0	1064	$1,450	$1.36	44d	1	0.05mi
416 Hanover Ave NW Roanoke, VA	2.0	1.0	682	$1,195	$1.75	13d	1	0.32mi
813 Gilmer Ave NW Roanoke, VA	2.0	1.0	1050	$1,322	$1.26	21d	1	0.38mi
717 Orange Ave NW Roanoke, VA	2.0	1.0	738	$900	$1.22	44d	1	0.39mi
113 Norfolk Ave SW Unit 10 Roanoke, VA	1.0	1.0	700	$1,050	$1.50	13d	1	0.44mi
113 Norfolk Ave SW Unit 12 Roanoke, VA	1.0	1.0	700	$1,050	$1.50	21d	1	0.44mi
357 Salem Ave SW Apt 405 Roanoke, VA	1.0	1.0	544	$955	$1.76	21d	1	0.46mi
324 Salem Ave SW Apt 203 Roanoke, VA	1.0	1.5	770	$1,750	$2.27	44d	1	0.48mi
400 Salem Ave SW Unit 2A Roanoke, VA	1.0	1.0	744	$1,400	$1.88	13d	1	0.51mi
110 Campbell Ave SW Unit 203 Roanoke, VA	1.0	1.0	780	$1,045	$1.34	44d	1	0.53mi
110 Campbell Ave SW Ste 206 Roanoke, VA	1.0	1.0	750	$1,300	$1.73	44d	1	0.53mi
110 Campbell Ave SW Unit 303 Roanoke, VA	1.0	1.0	780	$1,350	$1.73	21d	1	0.53mi
110 Campbell Ave SW Unit 205 Roanoke, VA	1.0	1.0	800	$1,250	$1.56	44d	1	0.53mi
1515 Dunbar St NW Roanoke, VA	3.0	2.0	1058	$1,623	$1.53	13d	1	0.55mi
1116 Fairfax Ave NW Roanoke, VA	2.0	1.0	800	$1,400	$1.75	21d	1	0.62mi
631 Campbell Ave SW Unit 111 Roanoke, VA	1.0	1.0	575	$1,035	$1.80	21d	1	0.68mi
605 Calvary St SW Apt A Roanoke, VA	1.0	1.0	838	$2,100	$2.51	21d	1	0.70mi
605 Calvary St SW Apt A Roanoke, VA	1.0	1.0	838	$2,100	$2.51	13d	1	0.70mi
802 Rorer Ave SW Apt A Roanoke, VA	2.0	1.0	820	$895	$1.09	44d	1	0.72mi
505 6th St SW Unit 229 Roanoke, VA	1.0	1.0	800	$1,275	$1.59	44d	1	0.75mi
1117 Rugby Blvd NW Unit B Roanoke, VA	2.0	1.0	1048	$778	$0.74	21d	1	0.78mi
10 12 1/2 St SW Roanoke, VA	3.0	1.5	999	$1,023	$1.02	44d	1	0.89mi
217 Mountain Ave SW Unit 217-2 Roanoke, VA	2.0	1.0	700	$945	$1.35	44d	1	0.90mi
1630 Wayne St NE Roanoke, VA	1.0	1.0	750	$950	$1.27	13d	1	0.95mi
355 Highland Ave SW Apt 1 Roanoke, VA	2.0	1.0	900	$1,150	$1.28	21d	1	0.95mi
1712 Wayne St NE Roanoke, VA	2.0	1.0	826	$1,250	$1.51	21d	1	0.97mi
2916 Courtland Rd NW Roanoke, VA	2.0	1.0	722	$1,123	$1.56	21d	1	1.00mi
1106 Campbell Ave SW Roanoke, VA	2.0	1.0	850	$950	$1.12	13d	1	1.01mi
806 Stewart Ave SE Roanoke, VA	1.0	1.0	651	$875	$1.34	21d	1	1.02mi
44 Forest Hill Ave NE Roanoke, VA	2.0	1.0	768	$1,150	$1.50	21d	1	1.02mi
1119 Franklin Rd SW Unit BensonFranklin 05 Roanoke, VA	2.0	1.0	900	$1,297	$1.44	44d	1	1.08mi
356 Walnut Ave SW Unit F Roanoke, VA	1.0	1.0	850	$1,300	$1.53	44d	1	1.17mi
120 Avendale Ave NE Unit 3 Roanoke, VA	1.0	1.0	700	$850	$1.21	21d	1	1.21mi
501 Allison Ave SW Apt 07 Roanoke, VA	2.0	1.0	629	$895	$1.42	44d	1	1.22mi
439 Cedar Bluff Ave SE Roanoke, VA	2.0	1.0	716	$2,350	$3.28	13d	1	1.23mi
420 Allison Ave SW Apt 3 Roanoke, VA	1.0	1.0	723	$950	$1.31	21d	1	1.23mi
601 Highland Ave SE Apt B Roanoke, VA	2.0	1.0	617	$975	$1.58	21d	1	1.25mi
1920 Melrose Ave NW Roanoke, VA	2.0	1.0	768	$950	$1.24	44d	1	1.32mi
2716 Edison St NE Unit & 2718 Roanoke, VA	2.0	1.5	864	$1,225	$1.42	44d	1	1.35mi
1624 Chapman Ave SW Unit A6 Roanoke, VA	1.0	1.0	650	$799	$1.23	21d	1	1.37mi

Listing history 26 events

1. 2026-06-18
   days on market $125,000 Active 232 DOM
2. 2026-06-17
   days on market $125,000 Active 231 DOM
3. 2026-06-16
   days on market $125,000 Active 230 DOM
4. 2026-06-15
   days on market $125,000 Active 229 DOM
5. 2026-06-14
   days on market $125,000 Active 227 DOM
6. 2026-06-13
   days on market $125,000 Active 226 DOM
7. 2026-06-10
   days on market $125,000 Active 224 DOM
8. 2026-06-09
   days on market $125,000 Active 223 DOM
9. 2026-06-08
   days on market $125,000 Active 222 DOM
10. 2026-06-05
    days on market $125,000 Active 218 DOM
11. 2026-06-03
    days on market $125,000 Active 217 DOM
12. 2026-06-02
    days on market $125,000 Active 216 DOM
13. 2026-06-01
    days on market $125,000 Active 215 DOM
14. 2026-05-31
    days on market $125,000 Active 214 DOM
15. 2026-05-30
    days on market $125,000 Active 213 DOM
16. 2025-10-29
    listed $125,000 Active 179-char remark

    Show marketing remark (179 chars)

    Large 2br room need minor upgrades seller would like to see someone to do sweat equity to enhance the property. large eat in kitchen Home built in 1997 great buy for right owner

17. 2003-06-27
    soldstatus $50,000 129-char remark

    Show marketing remark (129 chars)

    FRESHLY PAINTED, NEW CARPET AND VINYL INSTALLED NEW WALK WAY TO FRONT CONCRETE PAD TO SIDE ENTRANCE FLOWERS PLANTED AT FRONT DECK

18. 2003-05-21
    soldstatus $50,000
19. 2003-05-21
    soldstatus $50,000
20. 2003-05-10
    listed $54,700 129-char remark

    Show marketing remark (129 chars)

    FRESHLY PAINTED, NEW CARPET AND VINYL INSTALLED NEW WALK WAY TO FRONT CONCRETE PAD TO SIDE ENTRANCE FLOWERS PLANTED AT FRONT DECK

21. 2002-05-26
    historical
22. 2001-11-26
    listed $40,000
23. 2001-11-26
    historical
24. 2001-07-03
    listed $40,000
25. 1997-10-23
    soldstatus $49,000
26. 1996-05-15
    soldstatus $3,300

ⓘ 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: $974 · $81/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$51/yr (+$4/mo · 5.2%)

ⓘ 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 · 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: $14,631
• − Mortgage interest: −$7,002
• − Property taxes: −$974
• − Insurance: −$625
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$3,636
• Taxable income: $52
• Est. tax owed @ 24.0%: −$13
• After-tax cash flow: $2,080/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): 10,521
• Household income: $46,512
• Rent vs Own: 78.7% rent · 21.3% own
• Severe rent burden: 728.0

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 48% White 42% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Italian 2% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -98.06%
• Current HPI: 257.8158
• Rent YoY: ▲ 0.72%
• 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

+3687.9% since first listed

11 events — show timeline

• 2025-10-29 Listed $125,000 MLSRV
• 2003-06-27 Sold (MLS) $50,000 MLSRV
• 2003-05-21 Sold (Public Records) $50,000 Public Records
• 2003-05-21 Sold (Public Records) $50,000 Public Records
• 2003-05-10 Listed $54,700 MLSRV
• 2002-05-26 Listing Removed — MLSRV
• 2001-11-26 Listing Removed — MLSRV
• 2001-11-26 Listed $40,000 MLSRV
• 2001-07-03 Listed $40,000 MLSRV
• 1997-10-23 Sold (Public Records) $49,000 Public Records
• 1996-05-15 Sold (Public Records) $3,300 Public Records

Property tax history

+4.2%/yr

Latest (2025): $974 · +10.7% YoY. Source: county tax records.