515 Mountain Ave SW · Roanoke, VA 24016

$95,000

2 bd · 1.0 ba · 1,772 sqft · SingleFamily public records · 78 Days on market

Built 1908 6,534 sqft lot $54/sqft · 67% below area

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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

No Loans, As-Is Sale Only Property will require significant renovations. Take advantage of Historic Tax Credits and Tax Abatements. Current Zoning allows for multi family conversion. Nice Interior Layout and Architectural Details.

Key facts

• Tax abatements
• Historic tax credits
• 6,534 sq ft lot

Tags

• HISTORIC TAX CREDITS
• TAX ABATEMENTS
• MULTI FAMILY CONVERSION
• ARCHITECTURAL DETAILS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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: Rents flat; 89 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; 113 units permitted in Roanoke city in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($47k/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 $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $95k implies a 313% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — 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 $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — 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: 1.51% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.62%
• DSCR: 1.87
• GRM: 5.5

CMA / ARV

• ARV (median comp): $285,181
• List price: $95,000
• Delta: -66.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
547 Mountain Ave SW	0.07mi	3/1.5 (+1)	1,762 (-1%)	24mo	$319,950	$182	69
708 6th St SW	0.12mi	3/2.0 (+1)	1,920 (+8%)	20mo	$390,000	$203	55
518 King George Ave SW	0.50mi	2/2.5	1,759 (-1%)	22mo	$239,450	$136	51
701 Marshall Ave SW	0.27mi	3/2.5 (+1)	2,016 (+14%)	4mo	$350,000	$174	50
806 Rorer Ave SW	0.48mi	3/1.0 (+1)	1,670 (-6%)	15mo	$80,000	$48	50
1506 Main St SW	0.75mi	3/1.0 (+1)	1,749 (-1%)	16mo	$253,340	$145	44
636 Walnut Ave SW	0.39mi	2/1.0	1,566 (-12%)	22mo	$235,690	$151	44
1106 Hamilton Ave SW	0.70mi	2/1.0	1,584 (-11%)	14mo	$255,000	$161	38
1105 Valley Ave SW	0.66mi	3/2.0 (+1)	1,912 (+8%)	21mo	$320,000	$167	29

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: 9.0%
• Equity multiple: 1.34×
• Total profit: $9,138
• Equity at exit: $14,165

10-year hold

• IRR: 16.1%
• Equity multiple: 2.17×
• Total profit: $31,197
• Equity at exit: $8,214

Cash invested: $26,600 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,437 high
• Mortgage (P&I): −$498
• Tax from tax record: −$162 /mo · $1,945/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $435

Break-even live

Break-even rent $886

Max offer price $95,000

Occupancy floor 65%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
602 Elm Ave Unit B Roanoke, VA	2.0	1.0	1804	$1,250	$0.69	43d	1	0.14mi
430 Day Ave SW Unit A Roanoke, VA	2.0	1.0	1444	$1,650	$1.14	43d	1	0.15mi
701 Salem Ave SW Roanoke, VA	2.0	1.0	1250	$1,950	$1.56	43d	1	0.51mi
216 Patton Ave NW Unit 2 Roanoke, VA	2.0	1.0	1240	$1,025	$0.83	21d	1	0.87mi
1602 Memorial Ave SW Roanoke, VA	1.0	1.0	1250	$1,800	$1.44	43d	1	1.13mi
606 Riverland Rd SE Unit Roanoke Roanoke, VA	3.0	2.0	2300	$1,950	$0.85	43d	1	1.16mi
2429 Avenham Ave SW Unit 7 Roanoke, VA	3.0	2.5	1536	$2,000	$1.30	21d	1	1.26mi
821 12th St NW Roanoke, VA	3.0	2.0	1508	$1,625	$1.08	43d	1	1.32mi
1 23rd St SW #9 Roanoke, VA	3.0	2.0	1961	$2,150	$1.10	21d	1	1.34mi
1709 Sherwood Ave SW Roanoke, VA	2.0	1.0	1271	$1,650	$1.30	43d	1	1.38mi

Listing history 21 events

1. 2026-06-18
   days on market $95,000 Active 78 DOM
2. 2026-06-17
   days on market $95,000 Active 77 DOM
3. 2026-06-16
   days on market $95,000 Active 76 DOM
4. 2026-06-15
   days on market $95,000 Active 75 DOM
5. 2026-06-14
   days on market $95,000 Active 73 DOM
6. 2026-06-13
   days on market $95,000 Active 72 DOM
7. 2026-06-10
   days on market $95,000 Active 70 DOM
8. 2026-06-09
   days on market $95,000 Active 69 DOM
9. 2026-06-08
   days on market $95,000 Active 68 DOM
10. 2026-06-05
    days on market $95,000 Active 64 DOM
11. 2026-06-03
    days on market $95,000 Active 63 DOM
12. 2026-06-03
    price $95,000 Active 62 DOM
13. 2026-06-02
    days on market $100,000 Active 62 DOM
14. 2026-06-01
    days on market $100,000 Active 61 DOM
15. 2026-05-31
    days on market $100,000 Active 60 DOM
16. 2026-05-30
    days on market $100,000 Active 59 DOM
17. 2026-05-13
    status Active 230-char remark

    Show marketing remark (230 chars)

    No Loans, As-Is Sale Only Property will require significant renovations. Take advantage of Historic Tax Credits and Tax Abatements. Current Zoning allows for multi family conversion. Nice Interior Layout and Architectural Details.

18. 2026-05-04
    historical 230-char remark

    Show marketing remark (230 chars)

    No Loans, As-Is Sale Only Property will require significant renovations. Take advantage of Historic Tax Credits and Tax Abatements. Current Zoning allows for multi family conversion. Nice Interior Layout and Architectural Details.

19. 2026-04-18
    price $100,000 230-char remark

    Show marketing remark (230 chars)

    No Loans, As-Is Sale Only Property will require significant renovations. Take advantage of Historic Tax Credits and Tax Abatements. Current Zoning allows for multi family conversion. Nice Interior Layout and Architectural Details.

20. 2026-03-23
    listed $120,000 Active 230-char remark

    Show marketing remark (230 chars)

    No Loans, As-Is Sale Only Property will require significant renovations. Take advantage of Historic Tax Credits and Tax Abatements. Current Zoning allows for multi family conversion. Nice Interior Layout and Architectural Details.

21. 1983-08-31
    soldstatus $23,000

ⓘ 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: $1,945 · $162/mo
• Projected year-2 tax: $1,945 · $162/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: $17,238
• − Mortgage interest: −$5,321
• − Property taxes: −$1,945
• − Insurance: −$475
• − Repairs & maintenance: −$1,379
• − Management: −$1,379
• − Depreciation: −$2,764
• Taxable income: $3,975
• Est. tax owed @ 24.0%: −$954
• After-tax cash flow: $4,266/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

+334.8% since first listed

5 events — show timeline

• 2026-05-13 Relisted — MLSRV
• 2026-05-04 Listing Removed — MLSRV
• 2026-04-18 Price Changed $100,000 MLSRV
• 2026-03-23 Listed $120,000 MLSRV
• 1983-08-31 Sold (Public Records) $23,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $1,945 · +0.2% YoY. Source: county tax records.