408 Jennings Ave SE · Roanoke, VA 24013

$132,055

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 217 Days on market

Built 1900 3,484 sqft lot $169/sqft · 6% below area Est $140k · 6% 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 +18.6/30.0
• ARV discount +10.1/15.0
• DSCR +5.8/10.0
• 1% rule +4.2/10.0
• 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

Vacant.

Key facts

• 3,484 sq ft lot
• Built 1900
• Listed 217 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $132k.

Deal economics

• At list price, monthly cash flow is $128 ($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 (7.8% below list).
• Recommended offer: $116k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: 77 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); 42% 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 $913 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 217 days — a 12% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,208 (12.0% below list)

Questions for the listing agent

1. It's been on market 217 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 1900 — 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: 0.92% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.14%
• DSCR: 1.18
• GRM: 9.0

CMA / ARV

• ARV (median comp): $140,197
• List price: $132,055
• Delta: -5.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
419 Highland Ave SE	0.05mi	2/1.0	719 (-8%)	4mo	$90,000	$125	82
422 Albemarle Ave SE	0.12mi	2/1.0	734 (-6%)	8mo	$149,900	$204	78
670 Morrill Ave SE	0.48mi	2/1.0	774 (-1%)	2mo	$109,000	$141	75
636 Montrose Ave SE	0.32mi	2/1.0	788 (+1%)	13mo	$117,166	$149	73
428 Albemarle Ave SE	0.13mi	2/1.0	719 (-8%)	23mo	$142,500	$198	62
1412 9th St SE	0.61mi	2/1.0	892 (+14%)	9mo	$75,100	$84	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-13,298
• Equity at exit: $19,690

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-1,233
• Equity at exit: $11,418

Cash invested: $36,975 (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: 77
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,217 high
• Mortgage (P&I): −$693
• Tax from tax record: −$86 /mo · $1,036/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $128

Break-even live

Break-even rent $1,056

Max offer price $132,055

Occupancy floor 85%

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: $33,014
• Closing costs: $3,962
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
439 Cedar Bluff Ave SE Roanoke, VA	2.0	1.0	716	$2,350	$3.28	13d	1	0.12mi
601 Highland Ave SE Apt B Roanoke, VA	2.0	1.0	617	$975	$1.58	21d	1	0.17mi
420 Riverland Rd SE Roanoke, VA	2.0	1.0	834	$975	$1.17	21d	1	0.41mi
217 Mountain Ave SW Unit 217-2 Roanoke, VA	2.0	1.0	700	$945	$1.35	43d	1	0.48mi
806 Stewart Ave SE Roanoke, VA	1.0	1.0	651	$875	$1.34	21d	1	0.49mi
520 Riverland Rd SE Roanoke, VA	2.0	1.0	948	$1,500	$1.58	43d	1	0.53mi
110 Campbell Ave SW Unit 205 Roanoke, VA	1.0	1.0	800	$1,250	$1.56	43d	1	0.60mi
110 Campbell Ave SW Unit 203 Roanoke, VA	1.0	1.0	780	$1,045	$1.34	43d	1	0.60mi
110 Campbell Ave SW Ste 206 Roanoke, VA	1.0	1.0	750	$1,300	$1.73	43d	1	0.60mi
110 Campbell Ave SW Unit 303 Roanoke, VA	1.0	1.0	780	$1,350	$1.73	21d	1	0.60mi
1119 Franklin Rd SW Unit BensonFranklin 05 Roanoke, VA	2.0	1.0	900	$1,297	$1.44	43d	1	0.62mi
355 Highland Ave SW Apt 1 Roanoke, VA	2.0	1.0	900	$1,150	$1.28	21d	1	0.62mi
635 Riverland Rd SE Roanoke, VA	2.0	1.0	905	$1,250	$1.38	13d	1	0.63mi
703 Riverland Rd SE Roanoke, VA	2.0	1.0	1000	$1,250	$1.25	43d	1	0.64mi
113 Norfolk Ave SW Unit 12 Roanoke, VA	1.0	1.0	700	$1,050	$1.50	21d	1	0.67mi
113 Norfolk Ave SW Unit 10 Roanoke, VA	1.0	1.0	700	$1,050	$1.50	13d	1	0.67mi
356 Walnut Ave SW Unit F Roanoke, VA	1.0	1.0	850	$1,300	$1.53	43d	1	0.68mi
324 Salem Ave SW Apt 203 Roanoke, VA	1.0	1.5	770	$1,750	$2.27	43d	1	0.77mi
922 12th St SE Unit A Roanoke, VA	2.0	1.0	800	$899	$1.12	43d	1	0.78mi
1015 12th St SE Roanoke, VA	3.0	1.0	1072	$923	$0.86	43d	1	0.79mi
420 Allison Ave SW Apt 3 Roanoke, VA	1.0	1.0	723	$950	$1.31	21d	1	0.82mi
950 Morgan Ave SE Roanoke, VA	2.0	2.0	869	$1,550	$1.78	43d	1	0.83mi
357 Salem Ave SW Apt 405 Roanoke, VA	1.0	1.0	544	$955	$1.76	21d	1	0.85mi
400 Salem Ave SW Unit 2A Roanoke, VA	1.0	1.0	744	$1,400	$1.88	13d	1	0.85mi
501 Allison Ave SW Apt 07 Roanoke, VA	2.0	1.0	629	$895	$1.42	43d	1	0.87mi
1513 Morningside St SE Roanoke, VA	2.0	1.0	900	$1,200	$1.33	13d	1	0.88mi
505 6th St SW Unit 229 Roanoke, VA	1.0	1.0	800	$1,275	$1.59	44d	1	0.99mi
605 Calvary St SW Apt A Roanoke, VA	1.0	1.0	838	$2,100	$2.51	13d	1	1.02mi
605 Calvary St SW Apt A Roanoke, VA	1.0	1.0	838	$2,100	$2.51	21d	1	1.02mi
1016 15th St SE #2 Roanoke, VA	3.0	1.5	1084	$995	$0.92	13d	1	1.05mi
631 Campbell Ave SW Unit 111 Roanoke, VA	1.0	1.0	575	$1,035	$1.80	21d	1	1.07mi
1605 Church Ave SE Roanoke, VA	2.0	1.0	776	$1,200	$1.55	13d	1	1.09mi
401 Rutherford Ave NW Roanoke, VA	3.0	1.0	1064	$1,450	$1.36	43d	1	1.15mi
802 Rorer Ave SW Apt A Roanoke, VA	2.0	1.0	820	$895	$1.09	43d	1	1.21mi
2202 Broadway Ave SW Unit C Roanoke, VA	1.0	1.0	1000	$1,200	$1.20	43d	1	1.29mi
1331 Main St SW Roanoke, VA	2.0	1.0	877	$1,023	$1.17	21d	1	1.33mi
813 Gilmer Ave NW Roanoke, VA	2.0	1.0	1050	$1,322	$1.26	21d	1	1.33mi
711 Suburban Ave SW Roanoke, VA	2.0	1.5	910	$1,050	$1.15	21d	1	1.34mi
1905 Wise Ave SE Roanoke, VA	2.0	1.0	1044	$1,123	$1.08	13d	1	1.35mi
1816 Bennington St SE Roanoke, VA	2.0	1.5	938	$1,023	$1.09	21d	1	1.37mi

Listing history 32 events

1. 2026-06-18
   days on market $132,055 Active 217 DOM
2. 2026-06-17
   days on market $132,055 Active 216 DOM
3. 2026-06-16
   days on market $132,055 Active 215 DOM
4. 2026-06-15
   days on market $132,055 Active 214 DOM
5. 2026-06-14
   days on market $132,055 Active 212 DOM
6. 2026-06-13
   days on market $132,055 Active 211 DOM
7. 2026-06-10
   days on market $132,055 Active 209 DOM
8. 2026-06-09
   days on market $132,055 Active 208 DOM
9. 2026-06-08
   days on market $132,055 Active 207 DOM
10. 2026-06-05
    days on market $132,055 Active 203 DOM
11. 2026-06-03
    days on market $132,055 Active 202 DOM
12. 2026-06-02
    days on market $132,055 Active 201 DOM
13. 2026-06-01
    days on market $132,055 Active 200 DOM
14. 2026-05-31
    days on market $132,055 Active 199 DOM
15. 2026-05-30
    days on market $132,055 Active 198 DOM
16. 2026-02-05
    price $132,055 7-char remark

    Show marketing remark (7 chars)

    Vacant.

17. 2026-01-05
    price $134,750 7-char remark

    Show marketing remark (7 chars)

    Vacant.

18. 2025-11-13
    listed $137,500 Active 7-char remark

    Show marketing remark (7 chars)

    Vacant.

19. 2020-11-23
    soldstatus $3,113,580
20. 2017-10-17
    soldstatus $325,000
21. 2017-05-01
    soldstatus $45,000
22. 2017-04-26
    soldstatus $22,500 265-char remark

    Show marketing remark (265 chars)

    Full views of Mill Mountain Star and city fireworks shows! This tiny house is convenient to DT and VTC innovation corridor. Great opportunity for first-time investor, long-term tenants in place and pay utilities and maintain lawn service. All appliances pass AS IS.

23. 2017-03-03
    listed $30,000 265-char remark

    Show marketing remark (265 chars)

    Full views of Mill Mountain Star and city fireworks shows! This tiny house is convenient to DT and VTC innovation corridor. Great opportunity for first-time investor, long-term tenants in place and pay utilities and maintain lawn service. All appliances pass AS IS.

24. 2016-07-14
    historical
25. 2016-04-08
    listed $30,000
26. 2014-11-19
    historical
27. 2014-05-19
    listed $37,500
28. 2006-11-27
    soldstatus $71,722
29. 2006-11-27
    soldstatus $71,722
30. 1998-12-07
    soldstatus $32,000
31. 1986-05-07
    soldstatus $7,000
32. 1977-12-28
    soldstatus $5,000

ⓘ 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: $1,036 · $86/mo
• Projected year-2 tax: $1,083 · $90/mo
• Expected delta: +$47/yr (+$4/mo · 4.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $14,606
• − Mortgage interest: −$7,397
• − Property taxes: −$1,036
• − Insurance: −$660
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$3,842
• Taxable loss: −$666
• Est. tax savings @ 24.0%: +$160
• After-tax cash flow: $1,692/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

+2541.1% since first listed

17 events — show timeline

• 2026-02-05 Price Changed $132,055 MLSRV
• 2026-01-05 Price Changed $134,750 MLSRV
• 2025-11-13 Listed $137,500 MLSRV
• 2020-11-23 Sold (Public Records) $3,113,580 Public Records
• 2017-10-17 Sold (Public Records) $325,000 Public Records
• 2017-05-01 Sold (Public Records) $45,000 Public Records
• 2017-04-26 Sold (MLS) $22,500 MLSRV
• 2017-03-03 Listed $30,000 MLSRV
• 2016-07-14 Listing Removed — MLSRV
• 2016-04-08 Listed $30,000 MLSRV
• 2014-11-19 Listing Removed — MLSRV
• 2014-05-19 Listed $37,500 MLSRV
• 2006-11-27 Sold (Public Records) $71,722 Public Records
• 2006-11-27 Sold (Public Records) $71,722 Public Records
• 1998-12-07 Sold (Public Records) $32,000 Public Records
• 1986-05-07 Sold (Public Records) $7,000 Public Records
• 1977-12-28 Sold (Public Records) $5,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $1,036 · +10.7% YoY. Source: county tax records.