519 Elm Ave SW · Roanoke, VA 24016

$74,999

3 bd · 2.0 ba · 1,526 sqft · SingleFamily public records · 29 Days on market

Built 1927 3,484 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Attention investors and renovators! Opportunity awaits at 519 Elm Ave in Roanoke. This distressed property is being sold strictly AS-IS and is priced for a cash-only sale. Property will require significant repairs and updates but offers strong potential for a fix-and-flip, rental investment, or redevelopment project. Seller will make no repairs or inspections. Bring your vision and contractor and unlock the possibilities this property has to offer!

Key facts

• 3,484 sq ft lot
• Built 1927
• Listed 29 days

Property features AI

Exterior

• Home design: Residential property; Built in 1927
• Construction: Year built: 1927
• Exterior features: 0.08-acre lot

Interior

• Bedrooms: 3 bedrooms total; 1 main-level bedroom
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Radiator oil heat
• Interior features: 6 total rooms; Wood floors; One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.

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: Highland Park Elementary (math 57% / reading 67%, grade B, #480 of 1,108 statewide, top 46%, 398 students, 100% FRL); James Madison Middle (math 41% / reading 68%, grade B-, #194 of 342 statewide, top 60%, 580 students, 96% 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.
• Zoned-school proficiency averages 61% at this address vs 49% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Roanoke City Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 89 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $518 of loan paydown is wiped out by about $2k 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 + 0.7% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago; this cycle's ask has dropped $15k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• 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 $73,874 (1.5% below list)

Questions for the listing agent

1. Built in 1927 — 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: 1.98% ✓
• Cap rate: 16.63%
• Cash-on-cash: 36.92%
• DSCR: 2.64
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $230,426
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
428 Marshall Ave SW	0.14mi	4/1.5 (+1)	1,504 (-1%)	9mo	$220,000	$146	76
529 Day Ave SW	0.07mi	2/2.0 (-1)	1,432 (-6%)	11mo	$312,000	$218	73
713 Highland Ave SW	0.21mi	2/1.0 (-1)	1,452 (-5%)	16mo	$235,000	$162	60
515 Patton Ave NW	0.75mi	3/1.0	1,602 (+5%)	5mo	$68,500	$43	48
636 Walnut Ave SW	0.44mi	2/1.0 (-1)	1,566 (+3%)	22mo	$235,690	$151	48
806 Rorer Ave SW	0.43mi	3/1.0	1,670 (+9%)	16mo	$80,000	$48	47
1106 Hamilton Ave SW	0.72mi	2/1.0 (-1)	1,584 (+4%)	14mo	$255,000	$161	39
1506 Maple Ave SW	0.67mi	4/1.0 (+1)	1,715 (+12%)	8mo	$220,000	$128	33

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: 30.2%
• Equity multiple: 2.22×
• Total profit: $25,691
• Equity at exit: $11,183

10-year hold

• IRR: 36.1%
• Equity multiple: 3.97×
• Total profit: $62,417
• Equity at exit: $6,485

Cash invested: $21,000 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,484 high
• Mortgage (P&I): −$393
• Tax from tax record: −$102 /mo · $1,218/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $646

Break-even live

Break-even rent $666

Max offer price $74,999

Occupancy floor 51%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 Day Ave SW Unit A Roanoke, VA	2.0	1.0	1444	$1,650	$1.14	44d	1	0.09mi
602 Elm Ave Unit B Roanoke, VA	2.0	1.0	1804	$1,250	$0.69	44d	1	0.11mi
701 Salem Ave SW Roanoke, VA	2.0	1.0	1250	$1,950	$1.56	44d	1	0.45mi
1017 Ferdinand Ave SW Roanoke, VA	4.0	2.5	2248	$1,795	$0.80	44d	1	0.51mi
743 Suburban Ave SW Unit Suburban 745 Roanoke, VA	2.0	1.0	1134	$1,100	$0.97	14d	1	0.79mi
216 Patton Ave NW Unit 2 Roanoke, VA	2.0	1.0	1240	$1,025	$0.83	21d	1	0.81mi
813 Gilmer Ave NW Roanoke, VA	2.0	1.0	1050	$1,322	$1.26	21d	1	0.81mi
333 Harrison Ave NW Roanoke, VA	3.0	2.0	1186	$1,123	$0.95	21d	1	0.87mi
1007 Gilmer Ave NW Roanoke, VA	2.0	2.0	1187	$1,175	$0.99	21d	1	0.90mi
401 Rutherford Ave NW Roanoke, VA	3.0	1.0	1064	$1,450	$1.36	44d	1	0.92mi
1609 Chapman Ave SW Unit B Roanoke, VA	4.0	1.0	1400	$1,545	$1.10	21d	1	1.05mi
1630 Patterson Ave SW Unit B Roanoke, VA	3.0	1.0	1200	$1,395	$1.16	44d	1	1.10mi
2610 Colonial Ave SW Roanoke, VA	3.0	1.0	1104	$1,500	$1.36	44d	1	1.21mi
730 Murray Ave SE Roanoke, VA	3.0	1.0	1163	$1,525	$1.31	44d	1	1.22mi
730 Murray Ave SE Roanoke, VA	3.0	1.0	1163	$1,525	$1.31	21d	1	1.22mi
821 12th St NW Roanoke, VA	3.0	2.0	1508	$1,625	$1.08	44d	1	1.25mi
2429 Avenham Ave SW Unit 7 Roanoke, VA	3.0	2.5	1536	$2,000	$1.30	21d	1	1.33mi
1515 Dunbar St NW Roanoke, VA	3.0	2.0	1058	$1,623	$1.53	14d	1	1.39mi
1709 Sherwood Ave SW Roanoke, VA	2.0	1.0	1271	$1,650	$1.30	44d	1	1.40mi
1 23rd St SW #9 Roanoke, VA	3.0	2.0	1961	$2,150	$1.10	21d	1	1.40mi
770 Riverland Rd SE Roanoke, VA	3.0	2.0	1200	$2,100	$1.75	44d	1	1.43mi
1115 Grayson Ave NW Roanoke, VA	4.0	2.0	1094	$2,300	$2.10	44d	1	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $74,999 Active 29 DOM
2. 2026-06-17
   days on market $74,999 Active 28 DOM
3. 2026-06-16
   days on market $74,999 Active 27 DOM
4. 2026-06-15
   days on market $74,999 Active 26 DOM
5. 2026-06-14
   days on market $74,999 Active 24 DOM
6. 2026-06-13
   days on market $74,999 Active 23 DOM
7. 2026-06-10
   days on market $74,999 Active 21 DOM
8. 2026-06-09
   days on market $74,999 Active 20 DOM
9. 2026-06-08
   days on market $74,999 Active 19 DOM
10. 2026-06-05
    days on market $74,999 Active 15 DOM
11. 2026-06-03
    days on market $74,999 Active 14 DOM
12. 2026-06-02
    days on market $74,999 Active 13 DOM
13. 2026-06-01
    days on market $74,999 Active 12 DOM
14. 2026-05-31
    days on market $74,999 Active 11 DOM
15. 2026-05-30
    days on market $74,999 Active 10 DOM
16. 2026-05-21
    listed $89,999 Active 452-char remark

    Show marketing remark (452 chars)

    Attention investors and renovators! Opportunity awaits at 519 Elm Ave in Roanoke. This distressed property is being sold strictly AS-IS and is priced for a cash-only sale. Property will require significant repairs and updates but offers strong potential for a fix-and-flip, rental investment, or redevelopment project. Seller will make no repairs or inspections. Bring your vision and contractor and unlock the possibilities this property has to offer!

17. 2026-05-20
    listed $89,999 Active
18. 2005-06-30
    soldstatus $59,900
19. 2005-04-19
    historical
20. 2005-04-19
    soldstatus $60,412
21. 2005-03-14
    listed $70,000
22. 2005-03-13
    historical
23. 2004-09-13
    listed $65,900
24. 1984-11-13
    soldstatus $25,000

ⓘ 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: $1,218 · $102/mo
• Projected year-2 tax: $1,218 · $102/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 · 19 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: $17,804
• − Mortgage interest: −$4,201
• − Property taxes: −$1,218
• − Insurance: −$375
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − Depreciation: −$2,182
• Taxable income: $6,979
• Est. tax owed @ 24.0%: −$1,675
• After-tax cash flow: $6,077/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

+260.0% since first listed

9 events — show timeline

• 2026-05-21 Listed $89,999 NRVMLS
• 2026-05-20 Listed $89,999 MLSRV
• 2005-06-30 Sold (Public Records) $59,900 Public Records
• 2005-04-19 Sold (Public Records) $60,412 Public Records
• 2005-04-19 Listing Removed — MLSRV
• 2005-03-14 Listed $70,000 MLSRV
• 2005-03-13 Listing Removed — MLSRV
• 2004-09-13 Listed $65,900 MLSRV
• 1984-11-13 Sold (Public Records) $25,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,218 · +0.4% YoY. Source: county tax records.