113 Princeton Cir NE · Roanoke, VA 24012

$217,950

4 bd · 1.0 ba · 1,878 sqft · SingleFamily public records · 26 Days on market

Built 1928 0.50 ac lot $116/sqft · 13% below area Est $249k · 13% 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 +15.5/30.0
• ARV discount +13.2/15.0
• Rent growth +5.0/5.0
• DSCR +4.8/10.0
• Schools +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price Reduced to $104,500.00 GREAT PRIVATE LOCATION AMONG LOVELY HOMES-BEAUTIFUL FRONT AND SIDE PORCHES - LARGE DECK AT REAR FOR ENTERTAINING - WOOD FLOORS REFINISHED BEAUTIFULLY - LIVING ROOM WITH FIREPLACE WITH WOOD STOVE. CHARMING LAYOUT.

Key facts

• 0.5 acre lot
• Garage
• Built 1928

Property features AI

Exterior

• Parking: 1 covered parking space; 3 open parking spaces; Off-street parking
• Home design: Residential property; Built in 1928
• Exterior features: Front porch; Half-acre lot

Interior

• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Forced air gas heating; Heat pump electric cooling
• Interior features: 8 total rooms; Fireplace (1)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $218k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/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 $192k (11.9% below list).
• Recommended offer: $192k (11.9% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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.
• Zoned schools: Preston Park Elementary (math 33% / reading 51%, grade F, #866 of 1,108 statewide, top 80%, 505 students, 102% FRL); Breckinridge Middle (math 23% / reading 52%, grade F, #315 of 342 statewide, top 93%, 624 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 99% FRL vs 67% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.5%/yr); 196 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 113 units permitted in Roanoke city in 2024 (0 in 5+ unit buildings).
• This rent runs 43% 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 $2k of loan paydown is wiped out by about $7k 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 26 days — a 2% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $90k; list at $218k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $191,998 (11.9% below list)

Questions for the listing agent

1. Built in 1928 — 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: 0.88% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.73%
• DSCR: 1.08
• GRM: 9.5

CMA / ARV

• ARV (median comp): $249,450
• List price: $217,950
• Delta: -12.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
323 Whittaker Ave	0.50mi	3/2.0 (-1)	1,909 (+2%)	3mo	$135,000	$71	62
139 Hurst Ave NE	0.38mi	3/1.0 (-1)	2,040 (+9%)	2mo	$239,000	$117	62
335 Fugate Rd NE	0.58mi	3/1.0 (-1)	1,930 (+3%)	2mo	$249,900	$129	61
3107 Oliver Rd NE	0.47mi	3/1.0 (-1)	2,024 (+8%)	0mo	$239,000	$118	60
2913 Ravenwood Ave NW	0.63mi	4/2.0	1,946 (+4%)	4mo	$209,000	$107	57
3015 Kennedy St NE	0.51mi	3/2.0 (-1)	1,722 (-8%)	3mo	$220,000	$128	51
3302 Frontier Rd NW	0.63mi	3/1.0 (-1)	2,050 (+9%)	3mo	$250,000	$122	48
2816 10th St NW	0.56mi	3/2.0 (-1)	2,045 (+9%)	2mo	$138,000	$67	48
3332 Maplelawn Ave NW	0.73mi	4/2.0	2,016 (+7%)	3mo	$220,000	$109	47
3140 Hillcrest Ave NW	0.72mi	3/1.0 (-1)	2,040 (+9%)	2mo	$98,000	$48	45
4301 Holmes St NE	0.59mi	3/1.0 (-1)	2,116 (+13%)	2mo	$239,000	$113	45
2918 10th St NW	0.48mi	3/1.5 (-1)	2,137 (+14%)	4mo	$180,000	$84	44

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: -8.3%
• Equity multiple: 0.68×
• Total profit: $-19,574
• Equity at exit: $32,497

10-year hold

• IRR: 6.5%
• Equity multiple: 1.59×
• Total profit: $36,291
• Equity at exit: $18,844

Cash invested: $61,026 (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: 196
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,920 medium
• Mortgage (P&I): −$1,143
• Tax from tax record: −$195 /mo · $2,338/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $88

Break-even live

Break-even rent $1,808

Max offer price $217,950

Occupancy floor 90%

Sensitivity live

Price	-10% $212	-5% $150	+0% $88	+5% $26	+10% $-35
Rent	-10% $-64	-5% $12	+0% $88	+5% $164	+10% $240
Rate	-1.0pp $198	-0.5pp $144	base $88	+0.5pp $32	+1.0pp $-26

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: $54,488
• Closing costs: $6,538
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2109 Colgate St NE Roanoke, VA	3.0	1.0	1240	$1,700	$1.37	15d	1	1.12mi

Listing history 11 events

1. 2026-06-02
   status $217,950 Pending 26 DOM
2. 2026-06-01
   days on market $217,950 Active 26 DOM
3. 2026-05-31
   days on market $217,950 Active 25 DOM
4. 2026-05-30
   days on market $217,950 Active 24 DOM
5. 2026-05-06
   listed $217,950 Active 994-char remark
6. 2014-06-30
   soldstatus $90,000
7. 2014-06-27
   soldstatus $90,000 242-char remark

   Show marketing remark (242 chars)

   Price Reduced to $104,500.00 GREAT PRIVATE LOCATION AMONG LOVELY HOMES-BEAUTIFUL FRONT AND SIDE PORCHES - LARGE DECK AT REAR FOR ENTERTAINING - WOOD FLOORS REFINISHED BEAUTIFULLY - LIVING ROOM WITH FIREPLACE WITH WOOD STOVE. CHARMING LAYOUT.

8. 2014-01-29
   listed $104,500 242-char remark

   Show marketing remark (242 chars)

   Price Reduced to $104,500.00 GREAT PRIVATE LOCATION AMONG LOVELY HOMES-BEAUTIFUL FRONT AND SIDE PORCHES - LARGE DECK AT REAR FOR ENTERTAINING - WOOD FLOORS REFINISHED BEAUTIFULLY - LIVING ROOM WITH FIREPLACE WITH WOOD STOVE. CHARMING LAYOUT.

9. 1998-10-26
   soldstatus $69,500
10. 1998-10-26
    soldstatus $69,500
11. 1970-12-21
    soldstatus $14,500

ⓘ 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: $2,338 · $195/mo
• Projected year-2 tax: $2,338 · $195/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 · 17 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: $23,040
• − Mortgage interest: −$12,209
• − Property taxes: −$2,338
• − Insurance: −$1,090
• − Repairs & maintenance: −$1,843
• − Management: −$1,843
• − Depreciation: −$6,340
• Taxable loss: −$2,624
• Est. tax savings @ 24.0%: +$630
• After-tax cash flow: $1,688/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

+1403.1% since first listed

8 events — show timeline

• 2026-06-01 Pending — MLSRV
• 2026-05-06 Listed $217,950 MLSRV
• 2014-06-30 Sold (Public Records) $90,000 Public Records
• 2014-06-27 Sold (MLS) $90,000 MLSRV
• 2014-01-29 Listed $104,500 MLSRV
• 1998-10-26 Sold (Public Records) $69,500 Public Records
• 1998-10-26 Sold (Public Records) $69,500 Public Records
• 1970-12-21 Sold (Public Records) $14,500 Public Records

Property tax history

+5.1%/yr

Latest (2025): $2,338 · +15.3% YoY. Source: county tax records.