119 16th St SE · Roanoke, VA 24013

$115,000

3 bd · 1.0 ba · 736 sqft · SingleFamily public records · 11 Days on market

Built 1900 6,098 sqft lot $156/sqft · 30% above area Est $115k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.6/15.0
• 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

Back on market at no fault of the seller or home! Charming Home Near Downtown Roanoke! Welcome to this adorable house, perfectly located just a short distance from downtown Roanoke. This cozy abode boasts a range of recent upgrades, making it the perfect choice for anyone looking for a low-maintenance and comfortable living space. * Recent Upgrades: * -New gutters and gutter guards - Roof scraped and painted for a fresh new look - New tankless water heater installed in 2021 for efficient and endless hot water - Crawlspace vapor blocked and foundation sealed for added protection and peace of mind - New whole-home dehumidifier installed in 2021 to keep the air fresh and dry - Rear of the house supported in 2021 for added structural integrity - New HVAC units installed in 2023 for efficient heating and cooling * Additional Features: * - Close proximity to downtown Roanoke, with all its shops, restaurants, and amenities - Cozy and inviting living spaces, perfect for relaxing and entertaining - Plenty of natural light and charm throughout

Key facts

• Heat pump
• Tilt in windows
• One-level living

Tags

• ONE-LEVEL LIVING
• LARGE FLAT CORNER LOT
• TANKLESS WATER HEATER
• TILT IN WINDOWS
• HEAT PUMP

Property features AI

Finance

• Other: Annual tax listed ($1,646)
• Financial info: Listing price $115,000

Exterior

• Utilities: Electric heating and cooling (heat pump)
• Home design: Residential property; Built in 1900
• Construction: 0.14-acre lot
• Exterior features: Public transport access

Interior

• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Heat pump (electric) for heating and cooling
• Interior features: Tilt-in windows

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 11.6% 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: Fallon Park Elementary (math 33% / reading 42%, grade F, #931 of 1,108 statewide, top 84%, 533 students, 99% FRL); John P. Fishwick Middle (math 33% / reading 60%, grade D+, #264 of 342 statewide, top 77%, 501 students, 98% FRL); William Fleming High (math 66% / reading 68%, grade B, #185 of 319 statewide, top 61%, 1,911 students, 96% FRL) — zoned schools average 98% FRL vs 67% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 78 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 38% 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 $795 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 + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.41% ✓
• Cap rate: 11.56%
• Cash-on-cash: 18.82%
• DSCR: 1.84
• GRM: 5.9

CMA / ARV

• ARV (median comp): $115,193
• List price: $115,000
• Delta: -0.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1521 Church Ave SE	0.12mi	2/1.0 (-1)	810 (+10%)	10mo	$140,000	$173	65
126 10 1/2 St SE	0.36mi	2/1.0 (-1)	791 (+8%)	14mo	$110,000	$139	54
1241 Dale Ave SE	0.33mi	2/1.0 (-1)	844 (+15%)	8mo	$102,000	$121	48
920 Pocahontas Ave NE	0.61mi	2/1.0 (-1)	816 (+11%)	5mo	$210,000	$257	45
1817 Greenbrier Ave SE	0.67mi	2/1.0 (-1)	784 (+6%)	18mo	$175,000	$223	38

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: 7.4%
• Equity multiple: 1.29×
• Total profit: $9,347
• Equity at exit: $17,147

10-year hold

• IRR: 16.7%
• Equity multiple: 2.38×
• Total profit: $44,323
• Equity at exit: $9,943

Cash invested: $32,200 (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: 78
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,624 high
• Mortgage (P&I): −$603
• Tax from tax record: −$127 /mo · $1,527/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $438

Break-even live

Break-even rent $1,069

Max offer price $115,000

Occupancy floor 68%

Sensitivity live

Price	-10% $504	-5% $471	+0% $438	+5% $406	+10% $373
Rent	-10% $310	-5% $374	+0% $438	+5% $503	+10% $567
Rate	-1.0pp $496	-0.5pp $468	base $438	+0.5pp $409	+1.0pp $378

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1423 Varnell Ave NE Roanoke, VA	2.0	1.0	720	$1,650	$2.29	16d	1	0.81mi
601 Highland Ave SE Apt B Roanoke, VA	2.0	1.0	617	$975	$1.58	23d	1	1.02mi
916 Kyle Ave NE Roanoke, VA	2.0	1.0	642	$2,250	$3.50	16d	1	1.03mi
439 Cedar Bluff Ave SE Roanoke, VA	2.0	1.0	716	$2,350	$3.28	16d	1	1.16mi
100 Highland Rd Vinton, VA	1.0–2.0	1.0–2.0	665	$1,195	$1.80	16d	1	1.26mi
2205 Larchwood St NE Roanoke, VA	4.0	2.0	675	$1,700	$2.52	46d	1	1.38mi
217 Mountain Ave SW Unit 217-2 Roanoke, VA	2.0	1.0	700	$945	$1.35	46d	1	1.42mi
416 Hanover Ave NW Roanoke, VA	2.0	1.0	682	$1,195	$1.75	16d	1	1.44mi

Listing history 16 events

1. 2026-05-15
   status Pending 786-char remark
2. 2026-05-04
   listed $115,000 Active 786-char remark
3. 2026-01-30
   soldstatus $96,000
4. 2024-06-18
   soldstatus $119,500
5. 2024-06-17
   soldstatus $119,500 Closed 1061-char remark

   Show marketing remark (1061 chars)

   Back on market at no fault of the seller or home! Charming Home Near Downtown Roanoke! Welcome to this adorable house, perfectly located just a short distance from downtown Roanoke. This cozy abode boasts a range of recent upgrades, making it the perfect choice for anyone looking for a low-maintenance and comfortable living space. * Recent Upgrades: * -New gutters and gutter guards - Roof scraped and painted for a fresh new look - New tankless water heater installed in 2021 for efficient and endless hot water - Crawlspace vapor blocked and foundation sealed for added protection and peace of mind - New whole-home dehumidifier installed in 2021 to keep the air fresh and dry - Rear of the house supported in 2021 for added structural integrity - New HVAC units installed in 2023 for efficient heating and cooling * Additional Features: * - Close proximity to downtown Roanoke, with all its shops, restaurants, and amenities - Cozy and inviting living spaces, perfect for relaxing and entertaining - Plenty of natural light and charm throughout

6. 2024-05-30
   status Pending 1061-char remark

   Show marketing remark (1061 chars)

   Back on market at no fault of the seller or home! Charming Home Near Downtown Roanoke! Welcome to this adorable house, perfectly located just a short distance from downtown Roanoke. This cozy abode boasts a range of recent upgrades, making it the perfect choice for anyone looking for a low-maintenance and comfortable living space. * Recent Upgrades: * -New gutters and gutter guards - Roof scraped and painted for a fresh new look - New tankless water heater installed in 2021 for efficient and endless hot water - Crawlspace vapor blocked and foundation sealed for added protection and peace of mind - New whole-home dehumidifier installed in 2021 to keep the air fresh and dry - Rear of the house supported in 2021 for added structural integrity - New HVAC units installed in 2023 for efficient heating and cooling * Additional Features: * - Close proximity to downtown Roanoke, with all its shops, restaurants, and amenities - Cozy and inviting living spaces, perfect for relaxing and entertaining - Plenty of natural light and charm throughout

7. 2024-05-20
   status Active 1061-char remark

   Show marketing remark (1061 chars)

   Back on market at no fault of the seller or home! Charming Home Near Downtown Roanoke! Welcome to this adorable house, perfectly located just a short distance from downtown Roanoke. This cozy abode boasts a range of recent upgrades, making it the perfect choice for anyone looking for a low-maintenance and comfortable living space. * Recent Upgrades: * -New gutters and gutter guards - Roof scraped and painted for a fresh new look - New tankless water heater installed in 2021 for efficient and endless hot water - Crawlspace vapor blocked and foundation sealed for added protection and peace of mind - New whole-home dehumidifier installed in 2021 to keep the air fresh and dry - Rear of the house supported in 2021 for added structural integrity - New HVAC units installed in 2023 for efficient heating and cooling * Additional Features: * - Close proximity to downtown Roanoke, with all its shops, restaurants, and amenities - Cozy and inviting living spaces, perfect for relaxing and entertaining - Plenty of natural light and charm throughout

8. 2024-05-12
   status Pending 1061-char remark

   Show marketing remark (1061 chars)

   Back on market at no fault of the seller or home! Charming Home Near Downtown Roanoke! Welcome to this adorable house, perfectly located just a short distance from downtown Roanoke. This cozy abode boasts a range of recent upgrades, making it the perfect choice for anyone looking for a low-maintenance and comfortable living space. * Recent Upgrades: * -New gutters and gutter guards - Roof scraped and painted for a fresh new look - New tankless water heater installed in 2021 for efficient and endless hot water - Crawlspace vapor blocked and foundation sealed for added protection and peace of mind - New whole-home dehumidifier installed in 2021 to keep the air fresh and dry - Rear of the house supported in 2021 for added structural integrity - New HVAC units installed in 2023 for efficient heating and cooling * Additional Features: * - Close proximity to downtown Roanoke, with all its shops, restaurants, and amenities - Cozy and inviting living spaces, perfect for relaxing and entertaining - Plenty of natural light and charm throughout

9. 2024-05-06
   listed $116,000 Active 1061-char remark

   Show marketing remark (1061 chars)

   Back on market at no fault of the seller or home! Charming Home Near Downtown Roanoke! Welcome to this adorable house, perfectly located just a short distance from downtown Roanoke. This cozy abode boasts a range of recent upgrades, making it the perfect choice for anyone looking for a low-maintenance and comfortable living space. * Recent Upgrades: * -New gutters and gutter guards - Roof scraped and painted for a fresh new look - New tankless water heater installed in 2021 for efficient and endless hot water - Crawlspace vapor blocked and foundation sealed for added protection and peace of mind - New whole-home dehumidifier installed in 2021 to keep the air fresh and dry - Rear of the house supported in 2021 for added structural integrity - New HVAC units installed in 2023 for efficient heating and cooling * Additional Features: * - Close proximity to downtown Roanoke, with all its shops, restaurants, and amenities - Cozy and inviting living spaces, perfect for relaxing and entertaining - Plenty of natural light and charm throughout

10. 2021-06-04
    soldstatus $73,000

    Show marketing remark (296 chars)

    This is the nicest home you can buy for the money! The seller will pay $2000 toward buyers closing costs at this price. Touches of the original 1900 structure include a metal standing seam roof and a full length front porch. Only a trace of interior trim remain in this modernized 3 bedroom home.

11. 2021-06-04
    soldstatus $73,500

    Show marketing remark (296 chars)

    This is the nicest home you can buy for the money! The seller will pay $2000 toward buyers closing costs at this price. Touches of the original 1900 structure include a metal standing seam roof and a full length front porch. Only a trace of interior trim remain in this modernized 3 bedroom home.

12. 2021-04-15
    listed $67,500

    Show marketing remark (296 chars)

    This is the nicest home you can buy for the money! The seller will pay $2000 toward buyers closing costs at this price. Touches of the original 1900 structure include a metal standing seam roof and a full length front porch. Only a trace of interior trim remain in this modernized 3 bedroom home.

13. 2020-04-21
    historical
14. 2020-01-23
    listed $65,000
15. 1996-03-05
    soldstatus $8,000
16. 1994-06-10
    soldstatus $8,000

ⓘ 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: $1,527 · $127/mo
• Projected year-2 tax: $1,527 · $127/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 7/10 Severe FEMA zone X (shaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥101°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: $19,491
• − Mortgage interest: −$6,442
• − Property taxes: −$1,527
• − Insurance: −$1,372
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − Depreciation: −$3,345
• Taxable income: $3,686
• Est. tax owed @ 24.0%: −$885
• After-tax cash flow: $4,377/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

+1212.5% since first listed

18 events — show timeline

• 2026-05-28 Sold (Public Records) $105,000 Public Records
• 2026-05-28 Sold (MLS) $105,000 MLSRV
• 2026-05-15 Pending — MLSRV
• 2026-05-04 Listed $115,000 MLSRV
• 2026-01-30 Sold (Public Records) $96,000 Public Records
• 2024-06-18 Sold (Public Records) $119,500 Public Records
• 2024-06-17 Sold (MLS) $119,500 MLSRV
• 2024-05-30 Pending — MLSRV
• 2024-05-20 Relisted — MLSRV
• 2024-05-12 Pending — MLSRV
• 2024-05-06 Listed $116,000 MLSRV
• 2021-06-04 Sold (Public Records) $73,500 Public Records
• 2021-06-04 Sold (MLS) $73,000 MLSRV
• 2021-04-15 Listed $67,500 MLSRV
• 2020-04-21 Listing Removed — MLSRV
• 2020-01-23 Listed $65,000 MLSRV
• 1996-03-05 Sold (Public Records) $8,000 Public Records
• 1994-06-10 Sold (Public Records) $8,000 Public Records

Property tax history

+12.5%/yr

Latest (2025): $1,527 · +22.9% YoY. Source: county tax records.