1905 East Gate Ave NE · Roanoke, VA 24012

$125,062

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 386 Days on market

Built 1948 5,227 sqft lot Est $148k · 15% 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 +22.2/30.0
• ARV discount +14.4/15.0
• DSCR +7.1/10.0
• 1% rule +5.7/10.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

GREAT INVESTMENT OPPORTUNITY. Occupied, lease ends 4/30/26.

Key facts

• 5,227 sq ft lot
• 2 parking spots
• Built 1948

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 $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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); 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: Rents rising fast (+10.5%/yr); 194 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 113 units permitted in Roanoke city in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($53k/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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 386 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $110,054 (12.0% below list)

Questions for the listing agent

1. It's been on market 386 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 1948 — 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. 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?
7. 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.
8. 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.
9. 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: 8.26%
• Cash-on-cash: 7.01%
• DSCR: 1.31
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $147,840
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1905 East Gate Ave NE	0.00mi	2/1.0	672 (0%)	1mo	$125,000	$186	99
1906 Sunset Ave NE	0.18mi	2/1.0	672 (0%)	19mo	$77,000	$115	76
1421 24th St NE	0.28mi	2/1.0	736 (+10%)	7mo	$167,000	$227	65
937 Indiana Ave NE	0.54mi	2/1.0	720 (+7%)	21mo	$158,500	$220	45

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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-142
• Equity at exit: $18,647

10-year hold

• IRR: 14.1%
• Equity multiple: 2.40×
• Total profit: $48,918
• Equity at exit: $10,813

Cash invested: $35,017 (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 24012

• Rents YoY: 10.5%
• Active inventory: 194
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,339 high
• Mortgage (P&I): −$656
• Tax from tax record: −$145 /mo · $1,741/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $205

Break-even live

Break-even rent $1,080

Max offer price $125,062

Occupancy floor 80%

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: $31,266
• Closing costs: $3,752
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1415 15th St NE Roanoke, VA	1.0	1.0	566	$995	$1.76	13d	1	0.27mi
1423 Varnell Ave NE Roanoke, VA	2.0	1.0	720	$1,650	$2.29	13d	1	0.36mi
916 Kyle Ave NE Roanoke, VA	2.0	1.0	642	$2,250	$3.50	13d	1	0.52mi
321 9th St #6 Vinton, VA	1.0	1.0	546	$696	$1.27	43d	1	0.73mi
1630 Wayne St NE Roanoke, VA	1.0	1.0	750	$950	$1.27	13d	1	1.01mi
3006 Hickory Woods Dr NE Roanoke, VA	1.0–3.0	1.0–2.0	922	$1,608	$1.74	13d	20	1.02mi
100 Highland Rd Vinton, VA	1.0–2.0	1.0–2.0	665	$1,195	$1.80	13d	1	1.03mi
601 Orange Ave NE Roanoke, VA	1.0	1.0	518	$1,234	$2.38	13d	9	1.12mi
120 Avendale Ave NE Unit 3 Roanoke, VA	1.0	1.0	700	$850	$1.21	20d	1	1.13mi
3111 Ellsworth St NE Roanoke, VA	1.0–2.0	1.0	662	$1,199	$1.81	13d	2	1.32mi
301 E Cleveland Ave Unit 1 Vinton, VA	1.0	1.0	650	$1,050	$1.62	43d	1	1.46mi

Listing history 32 events

1. 2026-04-09
   status Pending
2. 2026-02-05
   price $125,062
3. 2026-01-05
   price $127,614
4. 2025-11-13
   price $130,219
5. 2025-10-08
   price $132,876
6. 2025-09-03
   price $135,588
7. 2025-08-08
   price $138,355
8. 2025-06-20
   price $141,179
9. 2025-05-18
   price $144,060
10. 2025-04-11
    price $147,000
11. 2025-03-19
    listed $150,000 Active
12. 2024-08-22
    historical
13. 2024-07-15
    status Active
14. 2024-07-15
    price $149,000
15. 2024-07-12
    historical
16. 2024-06-10
    price $151,250
17. 2024-02-26
    price $156,000
18. 2023-12-27
    listed $159,600 Active
19. 2021-02-23
    soldstatus $3,030,379
20. 2020-07-06
    historical
21. 2019-11-15
    listed $107,450
22. 2017-10-17
    soldstatus $325,000
23. 2017-03-22
    soldstatus $40,387
24. 2017-02-24
    listed $34,500
25. 2007-08-10
    historical
26. 2007-05-04
    listed $79,900
27. 2004-08-17
    soldstatus $43,000
28. 2004-08-02
    soldstatus $43,000
29. 2004-04-22
    listed $44,000
30. 2004-03-02
    soldstatus $42,590
31. 1985-02-26
    soldstatus $30,500
32. 1984-09-06
    soldstatus $9,000

ⓘ 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: $1,741 · $145/mo
• Projected year-2 tax: $1,741 · $145/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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,066
• − Mortgage interest: −$7,005
• − Property taxes: −$1,741
• − Insurance: −$625
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$3,638
• Taxable income: $486
• Est. tax owed @ 24.0%: −$117
• After-tax cash flow: $2,339/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): 28,235
• Household income: $52,973
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1360.0

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 60% Black 16% Hispanic / Latino 14% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Romanian 2% Slovak 2% Serbian 1%
• Foreign-born: 11% · Canada, Vietnam, Jamaica
• Languages at home: 84% English-only · Spanish 11% Other Asian/Pacific 2% Vietnamese 2%

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: ▼ -137.94%
• Current HPI: 186.9007
• Rent YoY: ▲ 10.46%
• 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

+1289.6% since first listed

32 events — show timeline

• 2026-04-09 Pending — MLSRV
• 2026-02-05 Price Changed $125,062 MLSRV
• 2026-01-05 Price Changed $127,614 MLSRV
• 2025-11-13 Price Changed $130,219 MLSRV
• 2025-10-08 Price Changed $132,876 MLSRV
• 2025-09-03 Price Changed $135,588 MLSRV
• 2025-08-08 Price Changed $138,355 MLSRV
• 2025-06-20 Price Changed $141,179 MLSRV
• 2025-05-18 Price Changed $144,060 MLSRV
• 2025-04-11 Price Changed $147,000 MLSRV
• 2025-03-19 Listed $150,000 MLSRV
• 2024-08-22 Listing Removed — MLSRV
• 2024-07-15 Relisted — MLSRV
• 2024-07-15 Price Changed $149,000 MLSRV
• 2024-07-12 Listing Removed — MLSRV
• 2024-06-10 Price Changed $151,250 MLSRV
• 2024-02-26 Price Changed $156,000 MLSRV
• 2023-12-27 Listed $159,600 MLSRV
• 2021-02-23 Sold (Public Records) $3,030,379 Public Records
• 2020-07-06 Listing Removed — MLSRV
• 2019-11-15 Listed $107,450 MLSRV
• 2017-10-17 Sold (Public Records) $325,000 Public Records
• 2017-03-22 Sold (MLS) $40,387 MLSRV
• 2017-02-24 Listed $34,500 MLSRV
• 2007-08-10 Listing Removed — MLSRV
• 2007-05-04 Listed $79,900 MLSRV
• 2004-08-17 Sold (MLS) $43,000 MLSRV
• 2004-08-02 Sold (Public Records) $43,000 Public Records
• 2004-04-22 Listed $44,000 MLSRV
• 2004-03-02 Sold (Public Records) $42,590 Public Records
• 1985-02-26 Sold (Public Records) $30,500 Public Records
• 1984-09-06 Sold (Public Records) $9,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $1,741 · +21.0% YoY. Source: county tax records.