1771 Glendon Rd · Salem, VA 24153

$279,900

4 bd · 2.0 ba · 2,060 sqft · SingleFamily public records · 1 Days on market

Built 1964 9,583 sqft lot Est $243k · 15% over

---

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 +12.7/30.0
• Schools +5.7/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.7/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

CARPET OVER HARDWOOD, BUILT-IN OVEN & COOK TOP, COVERED PATIO, DEN AND BONUS ROOM ON 3RD LEVEL, ONE OWNER HOME, LEVEL LOT.

Key facts

• Premium corner lot
• Renovated bathrooms
• Newer roof

Tags

• PREMIUM CORNER LOT
• UPDATED KITCHEN
• RENOVATED BATHROOMS
• NEW WINDOWS
• NEW AC
• NEWER ROOF

Property features AI

Finance

• HOA & community: Public transport access

Exterior

• Parking: 2 covered parking spaces; 3 open parking spaces; Off-street parking
• Utilities: Has heating; Has cooling
• Home design: Residential property; Built in 1964
• Exterior features: Rear porch

Interior

• Kitchen: Wall oven
• Bedrooms: 4 bedrooms total; 1 main-level bedroom
• Flooring: Laminate; Vinyl; Wood
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Forced air gas heating; Has cooling
• Interior features: Storage; Wood doors; Insulated windows

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $-30 ($-356/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (20.1% below list).
• Recommended offer: $224k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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); 274 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 268 units permitted in Salem city in 2024 (248 in 5+ unit buildings).
• This rent runs 36% of the median local income ($74k/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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $118k; list at $280k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,605 (20.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1964 — 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. 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?
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: 0.80% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.45%
• DSCR: 0.98
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $243,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1771 Glendon Rd	0.00mi	4/2.0	2,060 (0%)	0mo	$290,000	$141	100
1707 Glendon Rd	0.15mi	3/2.0 (-1)	2,000 (-3%)	2mo	$265,000	$133	82
4902 Rowe Ridge Rd NW	0.37mi	4/2.0	2,030 (-2%)	3mo	$230,000	$113	78
4852 Autumn Ln NW	0.35mi	3/1.0 (-1)	2,000 (-3%)	0mo	$200,000	$100	70
307 Deaner Dr NW	0.23mi	3/1.0 (-1)	2,000 (-3%)	8mo	$219,500	$110	69
912 Hemlock Rd	0.60mi	3/2.0 (-1)	1,998 (-3%)	0mo	$265,000	$133	62
1313 Slemp St	0.61mi	3/1.0 (-1)	2,052 (-0%)	2mo	$242,000	$118	61
4644 Desi Rd NW	0.56mi	3/1.0 (-1)	2,000 (-3%)	1mo	$212,500	$106	59
4230 Moomaw Ave NW	0.72mi	3/1.0 (-1)	1,976 (-4%)	1mo	$189,900	$96	50
2136 Bainbridge Dr	0.71mi	3/2.0 (-1)	1,994 (-3%)	10mo	$269,000	$135	48
709 Catawba Dr	0.62mi	3/3.0 (-1)	2,250 (+9%)	4mo	$205,000	$91	44
938 Hedgewood Dr NW	0.67mi	3/1.5 (-1)	1,815 (-12%)	2mo	$230,000	$127	40

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: -14.0%
• Equity multiple: 0.48×
• Total profit: $-40,393
• Equity at exit: $41,734

10-year hold

• IRR: -1.3%
• Equity multiple: 0.90×
• Total profit: $-7,696
• Equity at exit: $24,201

Cash invested: $78,372 (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: 274
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,236 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$212 /mo · $2,541/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $-30

Break-even live

Break-even rent $2,274

Max offer price $274,656

Occupancy floor 96%

Sensitivity live

Price	-10% $129	-5% $50	+0% $-30	+5% $-109	+10% $-188
Rent	-10% $-206	-5% $-118	+0% $-30	+5% $59	+10% $147
Rate	-1.0pp $111	-0.5pp $42	base $-30	+0.5pp $-102	+1.0pp $-176

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4626 Autumn Ln NW Roanoke, VA	3.0	2.5	1408	$1,999	$1.42	15d	1	0.55mi
928 Ohio Ave Salem, VA	3.0	1.0–2.0	992	$2,622	$2.64	15d	1	1.26mi

Listing history 5 events

1. 2026-05-14
   status Pending
2. 2026-04-24
   listed $279,900 Active
3. 2001-10-01
   soldstatus $118,000
4. 2001-09-27
   soldstatus $118,000 128-char remark

   Show marketing remark (128 chars)

   CARPET OVER HARDWOOD, BUILT-IN OVEN & COOK TOP, COVERED PATIO, DEN AND BONUS ROOM ON 3RD LEVEL, ONE OWNER HOME, LEVEL LOT.

5. 2001-04-18
   listed $119,950 128-char remark

   Show marketing remark (128 chars)

   CARPET OVER HARDWOOD, BUILT-IN OVEN & COOK TOP, COVERED PATIO, DEN AND BONUS ROOM ON 3RD LEVEL, ONE OWNER HOME, LEVEL LOT.

ⓘ 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: $2,541 · $212/mo
• Projected year-2 tax: $2,541 · $212/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 · 18 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: $26,833
• − Mortgage interest: −$15,679
• − Property taxes: −$2,541
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,147
• − Management: −$2,147
• − Depreciation: −$8,143
• Taxable loss: −$5,222
• Est. tax savings @ 24.0%: +$1,253
• After-tax cash flow: $897/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

+133.3% since first listed

5 events — show timeline

• 2026-05-14 Pending — MLSRV
• 2026-04-24 Listed $279,900 MLSRV
• 2001-10-01 Sold (Public Records) $118,000 Public Records
• 2001-09-27 Sold (MLS) $118,000 MLSRV
• 2001-04-18 Listed $119,950 MLSRV

Property tax history

+4.5%/yr

Latest (2025): $2,541 · +6.8% YoY. Source: county tax records.