4010 Michigan Ave NW · Roanoke, VA 24011

$190,159

3 bd · 1.0 ba · 1,150 sqft · SingleFamily public records · 246 Days on market

Built 1971 7,405 sqft lot $165/sqft · 69% above area Est $196k · at est.

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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).

• ARV discount +8.8/15.0
• Cash flow +7.4/30.0
• Appreciation +5.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.6/10.0

Listing remarks MLS

Vacant.

Key facts

• 7,405 sq ft lot
• Built 1971
• Listed 246 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-242 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (22.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (32.4% below list).
• Recommended offer: $128k (32.4% below list) — sets the bar for 1% rule.

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: 12 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 113 units permitted in Roanoke city in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Roanoke County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.

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 $128,479 (32.4% 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. It's been on market 246 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.68% ✗
• Cap rate: 4.77%
• Cash-on-cash: -5.45%
• DSCR: 0.76
• GRM: 12.3

CMA / ARV

• ARV (median comp): $195,987
• List price: $190,159
• Delta: -2.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4446 Stonewall Rd NW	0.25mi	3/2.0	1,188 (+3%)	5mo	$266,950	$225	75
3708 Michigan Ave NW	0.29mi	3/2.0	1,200 (+4%)	1mo	$247,000	$206	75
4026 Wyoming Ave NW	0.52mi	3/1.0	1,195 (+4%)	1mo	$165,000	$138	69
3828 Michigan Ave NW	0.17mi	4/1.0 (+1)	1,255 (+9%)	5mo	$140,000	$112	68
3809 Woodleigh Rd NW	0.26mi	3/1.0	1,000 (-13%)	3mo	$95,000	$95	64
4117 Kentucky Ave NW	0.50mi	3/1.0	1,242 (+8%)	1mo	$187,000	$151	63
919 Glenn Ridge Rd NW	0.34mi	3/1.0	1,000 (-13%)	2mo	$130,000	$130	60
3651 Troutland Ave NW	0.67mi	3/1.0	1,229 (+7%)	2mo	$180,000	$146	56
4251 Hershberger Rd NW	0.70mi	2/1.0 (-1)	1,172 (+2%)	6mo	$185,000	$158	55
4305 Camille Ave NW	0.47mi	3/2.0	1,285 (+12%)	4mo	$259,950	$202	52
3702 Troutland Ave NW	0.70mi	3/1.0	1,260 (+10%)	2mo	$140,000	$111	50
3768 Wilmont Ave NW	0.75mi	3/1.0	1,008 (-12%)	2mo	$142,000	$141	43

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: 2.4%
• Equity multiple: 1.14×
• Total profit: $7,480
• Equity at exit: $85,504

10-year hold

• IRR: 5.9%
• Equity multiple: 1.91×
• Total profit: $48,235
• Equity at exit: $131,771

Cash invested: $53,245 (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 24011

• Active inventory: 12
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,285 high
• Mortgage (P&I): −$997
• Tax from tax record: −$181 /mo · $2,166/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-242

Break-even live

Break-even rent $1,591

Max offer price $147,413

Occupancy floor —

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: $47,540
• Closing costs: $5,705
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3802 Panorama Ave NW #2 Roanoke, VA	2.0	1.0	900	$995	$1.11	43d	1	0.37mi
3802 Panorama Ave NW #12 Roanoke, VA	3.0	1.0	1100	$995	$0.90	43d	1	0.37mi
3802 Panorama Ave NW #6 Roanoke, VA	2.0	1.0	900	$1,050	$1.17	43d	1	0.37mi
4310 Tyree Rd NW Roanoke, VA	3.0	1.0	913	$1,650	$1.81	13d	1	0.40mi
4626 Autumn Ln NW Roanoke, VA	3.0	2.5	1408	$1,999	$1.42	13d	1	0.85mi
3340 Hershberger Rd NW Roanoke, VA	2.0	1.0	924	$1,050	$1.14	43d	1	1.17mi
2744 Melrose Ave NW Roanoke, VA	1.0–2.0	1.0–1.5	936	$1,045	$1.12	13d	7	1.25mi
733 29th St NW Roanoke, VA	2.0–3.0	2.0	1022	$1,625	$1.59	13d	4	1.25mi
3533 Ferncliff Ave NW Roanoke, VA	1.0–3.0	1.0	980	$1,426	$1.46	13d	11	1.33mi
1741 Pexton Ave Salem, VA	3.0	1.0	792	$1,452	$1.83	13d	1	1.34mi
1331 Dudley St NW Roanoke, VA	2.0	1.0	700	$1,500	$2.14	13d	1	1.42mi
900 Camelot Dr Salem, VA	1.0–3.0	1.0–1.5	905	$1,760	$1.94	13d	10	1.43mi

Listing history 21 events

1. 2026-06-18
   days on market $190,159 Active 246 DOM
2. 2026-06-17
   days on market $190,159 Active 245 DOM
3. 2026-06-16
   days on market $190,159 Active 244 DOM
4. 2026-06-15
   days on market $190,159 Active 243 DOM
5. 2026-06-14
   days on market $190,159 Active 241 DOM
6. 2026-06-13
   days on market $190,159 Active 240 DOM
7. 2026-06-10
   days on market $190,159 Active 238 DOM
8. 2026-06-09
   days on market $190,159 Active 237 DOM
9. 2026-06-08
   days on market $190,159 Active 236 DOM
10. 2026-06-05
    days on market $190,159 Active 232 DOM
11. 2026-06-03
    days on market $190,159 Active 231 DOM
12. 2026-06-02
    days on market $190,159 Active 230 DOM
13. 2026-06-01
    days on market $190,159 Active 229 DOM
14. 2026-05-31
    days on market $190,159 Active 228 DOM
15. 2026-05-30
    days on market $190,159 Active 227 DOM
16. 2026-02-05
    price $190,159 7-char remark

    Show marketing remark (7 chars)

    Vacant.

17. 2026-01-05
    price $194,040 7-char remark

    Show marketing remark (7 chars)

    Vacant.

18. 2025-10-15
    listed $198,000 Active 7-char remark

    Show marketing remark (7 chars)

    Vacant.

19. 2020-11-23
    soldstatus $3,113,580
20. 2019-03-18
    soldstatus $48,000
21. 1971-09-24
    soldstatus $17,300

ⓘ 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: $2,166 · $181/mo
• Projected year-2 tax: $2,166 · $181/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: $15,417
• − Mortgage interest: −$10,652
• − Property taxes: −$2,166
• − Insurance: −$951
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − Depreciation: −$5,532
• Taxable loss: −$6,350
• Est. tax savings @ 24.0%: +$1,524
• After-tax cash flow: $-1,380/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
• City population: 168,930
• Population (ZIP): 789

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: Predominantly White (73%)
• Race & ethnicity: White 73% Black 14% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 5% Serbian 5% Iranian 2%
• Foreign-born: 7% · China, South Korea
• Languages at home: 91% English-only · Spanish 4% Russian/Polish/Slavic 2% Other Indo-European 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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+999.2% since first listed

6 events — show timeline

• 2026-02-05 Price Changed $190,159 MLSRV
• 2026-01-05 Price Changed $194,040 MLSRV
• 2025-10-15 Listed $198,000 MLSRV
• 2020-11-23 Sold (Public Records) $3,113,580 Public Records
• 2019-03-18 Sold (Public Records) $48,000 Public Records
• 1971-09-24 Sold (Public Records) $17,300 Public Records

Property tax history

+13.1%/yr

Latest (2025): $2,166 · +19.8% YoY. Source: county tax records.