1622 Aspen St NW · Roanoke, VA 24017

$77,800

2 bd · 1.0 ba · 1,225 sqft · SingleFamily public records · 126 Days on market

Built 1947 Poor condition 9,583 sqft lot $64/sqft · 57% 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 +4.7/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2-bedroom home on a generous lot -- Solid bones and a flexible floorplan make this a perfect starter home or investment: update the kitchen and baths, add a primary suite, or build out for extra living space. Large yard offers room for gardening, workshop, or future expansion; driveway/garage and mature landscaping complete the package. Great canvas for buyers looking to add value and personalize.

Key facts

• Large yard
• Flexible floorplan
• Mature landscaping

Tags

• FLEXIBLE FLOORPLAN
• LARGE YARD
• MATURE LANDSCAPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $78k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $68k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 4.0% 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: Round Hill Elementary (math 28% / reading 42%, grade F, #960 of 1,108 statewide, top 87%, 719 students, 100% 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 98% FRL vs 67% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.7%/yr); 205 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $538 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 + 5.7% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $47k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $68,464 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1947 — 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. 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.
9. 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.
10. 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: 1.80% ✓
• Cap rate: 14.92%
• Cash-on-cash: 30.82%
• DSCR: 2.37
• GRM: 4.6

CMA / ARV

• ARV (median comp): $180,452
• List price: $77,800
• Delta: -56.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2813 Aspen Grove Ct NW	0.08mi	3/2.0 (+1)	1,234 (+1%)	21mo	$229,950	$186	68
1513 Aspen St NW	0.19mi	3/1.0 (+1)	1,143 (-7%)	10mo	$198,950	$174	67
2820 Clifton St NW	0.45mi	2/1.0	1,224 (-0%)	18mo	$87,500	$71	64
1012 Crescent St NW	0.69mi	3/1.0 (+1)	1,276 (+4%)	3mo	$78,000	$61	53
3052 Ferncliff Ave NW	0.34mi	3/1.0 (+1)	1,060 (-14%)	11mo	$225,000	$212	47
2927 Grand Ave NW	0.59mi	2/1.0	1,380 (+13%)	23mo	$110,000	$80	32
2764 Clifton St NW	0.54mi	2/2.0	1,058 (-14%)	21mo	$70,000	$66	31

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 · 5.71% rent growth · sell at horizon

5-year hold

• IRR: 28.7%
• Equity multiple: 2.24×
• Total profit: $26,983
• Equity at exit: $11,600

10-year hold

• IRR: 37.6%
• Equity multiple: 4.97×
• Total profit: $86,545
• Equity at exit: $6,727

Cash invested: $21,784 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 7 active · 5 under contract
• Months of supply: 7.0 mo (14%/mo absorbed)
• Median asking: $219,000 ($180/sqft)
• Median days on market: 43 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -18.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 24017

• Home prices YoY: -28.3%
• Rents YoY: 5.7%
• Active inventory: 205
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,404 high
• Mortgage (P&I): −$408
• Tax from tax record: −$109 /mo · $1,309/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $559

Break-even live

Break-even rent $696

Max offer price $77,800

Occupancy floor 55%

Sensitivity live

Price	-10% $603	-5% $581	+0% $559	+5% $537	+10% $515
Rent	-10% $449	-5% $504	+0% $559	+5% $615	+10% $670
Rate	-1.0pp $599	-0.5pp $579	base $559	+0.5pp $539	+1.0pp $519

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: $19,450
• Closing costs: $2,334
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2731 Cove Rd NW Roanoke, VA	3.0	2.5	1427	$1,523	$1.07	93d	1	0.05mi
2608 Florida Ave NW Roanoke, VA	3.0	1.0	1394	$1,600	$1.15	70d	1	0.33mi
1331 Dudley St NW Roanoke, VA	2.0	1.0	700	$1,500	$2.14	63d	1	0.43mi
3340 Hershberger Rd NW Roanoke, VA	2.0	1.0	924	$1,050	$1.14	93d	1	0.59mi
2801 Hershberger Rd NW Roanoke, VA	1.0–2.0	1.0–2.0	956	$1,965	$2.06	63d	14	0.68mi
3533 Ferncliff Ave NW Roanoke, VA	1.0–3.0	1.0	980	$1,142	$1.16	63d	11	0.85mi
2744 Melrose Ave NW Roanoke, VA	1.0–2.0	1.0–1.5	936	$1,045	$1.12	63d	7	0.91mi
1716 Empress Dr NW Roanoke, VA	1.0–2.0	1.0	671	$1,040	$1.55	63d	1	0.98mi
1531 Syracuse Ave NW Roanoke, VA	3.0	1.0	1488	$1,675	$1.13	93d	1	0.99mi
1533 Rugby Blvd NW Roanoke, VA	3.0	1.0	1500	$1,475	$0.98	93d	1	1.00mi
2215 Montauk Rd NW Roanoke, VA	1.0–2.0	1.0–1.5	653	$1,425	$2.18	63d	5	1.04mi
733 29th St NW Roanoke, VA	2.0–3.0	2.0	1022	$1,449	$1.42	63d	4	1.09mi
1920 Melrose Ave NW Roanoke, VA	2.0	1.0	768	$950	$1.24	93d	1	1.10mi
4823 Rutgers St NW Roanoke, VA	1.0–3.0	1.0	771	$1,199	$1.56	63d	5	1.25mi
2318 Highland Farm Rd NW Roanoke, VA	2.0–3.0	1.0–1.5	1208	$1,224	$1.01	63d	4	1.26mi
1117 Rugby Blvd NW Unit B Roanoke, VA	2.0	1.0	1048	$778	$0.74	70d	1	1.38mi

Listing history 50 events

1. 2026-08-08
   days on market $77,800 Active 126 DOM
2. 2026-08-07
   days on market $77,800 Active 125 DOM
3. 2026-08-06
   days on market $77,800 Active 124 DOM
4. 2026-08-05
   days on market $77,800 Active 123 DOM
5. 2026-08-04
   days on market $77,800 Active 122 DOM
6. 2026-08-03
   days on market $77,800 Active 121 DOM
7. 2026-07-31
   days on market $77,800 Active 118 DOM
8. 2026-07-30
   days on market $77,800 Active 117 DOM
9. 2026-07-29
   days on market $77,800 Active 116 DOM
10. 2026-07-27
    days on market $77,800 Active 114 DOM
11. 2026-07-25
    days on market $77,800 Active 112 DOM
12. 2026-07-24
    days on market $77,800 Active 111 DOM
13. 2026-07-23
    days on market $77,800 Active 110 DOM
14. 2026-07-22
    days on market $77,800 Active 109 DOM
15. 2026-07-21
    pricedays on market $77,800 Active 108 DOM
16. 2026-07-18
    days on market $82,000 Active 105 DOM
17. 2026-07-16
    days on market $82,000 Active 103 DOM
18. 2026-07-16
    days on market $82,000 Active 102 DOM
19. 2026-07-14
    days on market $82,000 Active 101 DOM
20. 2026-07-13
    days on market $82,000 Active 100 DOM
21. 2026-07-12
    days on market $82,000 Active 99 DOM
22. 2026-07-11
    days on market $82,000 Active 98 DOM
23. 2026-07-10
    days on market $82,000 Active 97 DOM
24. 2026-07-09
    days on market $82,000 Active 96 DOM
25. 2026-07-08
    days on market $82,000 Active 95 DOM
26. 2026-07-07
    days on market $82,000 Active 94 DOM
27. 2026-07-06
    days on market $82,000 Active 93 DOM
28. 2026-07-05
    days on market $82,000 Active 92 DOM
29. 2026-07-04
    days on market $82,000 Active 91 DOM
30. 2026-07-03
    days on market $82,000 Active 90 DOM
31. 2026-07-02
    days on market $82,000 Active 89 DOM
32. 2026-07-01
    days on market $82,000 Active 88 DOM
33. 2026-06-30
    days on market $82,000 Active 87 DOM
34. 2026-06-29
    days on market $82,000 Active 86 DOM
35. 2026-06-28
    pricedays on market $82,000 Active 85 DOM
36. 2026-06-28
    days on market $95,000 Active 84 DOM
37. 2026-06-27
    days on market $95,000 Active 83 DOM
38. 2026-06-25
    days on market $95,000 Active 81 DOM
39. 2026-06-23
    days on market $95,000 Active 79 DOM
40. 2026-06-21
    days on market $95,000 Active 78 DOM
41. 2026-06-18
    days on market $95,000 Active 75 DOM
42. 2026-06-17
    days on market $95,000 Active 74 DOM
43. 2026-06-16
    price $95,000 Active 73 DOM
44. 2026-06-16
    days on market $100,000 Active 73 DOM
45. 2026-06-15
    days on market $100,000 Active 72 DOM
46. 2026-06-14
    days on market $100,000 Active 70 DOM
47. 2026-06-13
    days on market $100,000 Active 69 DOM
48. 2026-06-10
    statusdays on market $100,000 Active 67 DOM
49. 2026-05-30
    status $100,000 Pending 66 DOM
50. 2026-05-15
    price $105,000 400-char remark

    Show marketing remark (400 chars)

    2-bedroom home on a generous lot -- Solid bones and a flexible floorplan make this a perfect starter home or investment: update the kitchen and baths, add a primary suite, or build out for extra living space. Large yard offers room for gardening, workshop, or future expansion; driveway/garage and mature landscaping complete the package. Great canvas for buyers looking to add value and personalize.

ⓘ 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: $1,309 · $109/mo
• Projected year-2 tax: $1,309 · $109/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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,844
• − Mortgage interest: −$4,358
• − Property taxes: −$1,309
• − Insurance: −$389
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$2,263
• Taxable income: $5,830
• Est. tax owed @ 24.0%: −$1,399
• After-tax cash flow: $5,314/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.

Condition & rehab AI · 10 photos

Poor 20/100 Extensive rehab Est. rehab $61,250–$110,250 screening

This home requires extensive repairs and updates to bring it up to market standards. The roof, exterior siding, and interior walls are in poor condition, and the kitchen and bathroom need major repairs. Re-roofing, repainting, and replacing the subfloor and cabinets will significantly increase its value.

Deferred maintenance Est. $60,000–$180,000 screening

• Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — roof appears old and damaged
• Major Windows (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — windows appear old and damaged
• Major Electrical (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — electrical panel appears old and damaged
• Major Plumbing (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — plumbing appears old and damaged
• Major Exterior (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — exterior appears old and damaged
• Major Other (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — other components appear old and damaged

Repairs flagged

• Major Exposed subfloor in kitchen and bathroom — Structural damage and potential water damage.
• Major Missing cabinets and appliances in kitchen and bathroom — Structural damage and potential water damage.
• Major Peeling exterior siding — Structural damage and potential water damage.
• Major Peeling interior paint — Structural damage and potential water damage.

Value-add opportunities

• Resale Re-roofing the house — A new roof will significantly increase the home's curb appeal and marketability. ↑
• Resale Re-painting the exterior siding — A fresh coat of paint will improve the home's curb appeal and marketability. ↑
• Resale Re-painting the interior walls — A fresh coat of paint will improve the home's curb appeal and marketability. ↑
• Resale Replacing the subfloor in the kitchen and bathroom — A new subfloor will improve the home's structural integrity and marketability. ↑
• Resale Replacing missing cabinets and appliances — New cabinets and appliances will improve the home's functionality and marketability. ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 46/100

Zoned Schools

Elementary Round Hill Elementary F VA #960/1,108 Nat'l #22,904/41,679 Middle Breckinridge Middle F VA #315/342 Nat'l #6,708/14,009 High William Fleming High B VA #185/319 Nat'l #2,514/17,239

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

B Composite livability gradescore 73/100

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 · 106,094 people
• City population: 168,930
• Metro: Roanoke, VA
• Population (ZIP): 23,678
• Household income: $47,360
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 59% White 25% Hispanic / Latino 9% Asian 4% Two or more races 4%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Slovak 1% Romanian 1% Lithuanian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 87% English-only · Spanish 8% Other Indo-European 3% German/W. Germanic 1%

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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: ▼ -78.29%
• Current HPI: 198.5991
• Rent YoY: ▲ 5.71%
• Metro: Roanoke, VA
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

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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

+929.4% since first listed

14 events — show timeline

• 2026-05-15 Price Changed $105,000 MLSRV
• 2026-04-30 Price Changed $109,925 MLSRV
• 2026-04-23 Price Changed $109,950 MLSRV
• 2026-04-16 Price Changed $109,975 MLSRV
• 2026-04-10 Price Changed $110,000 MLSRV
• 2026-04-09 Price Changed $124,975 MLSRV
• 2026-03-24 Listed $125,000 MLSRV
• 2007-03-12 Sold (MLS) $54,950 MLSRV
• 2007-02-23 Sold (Public Records) $54,950 Public Records
• 2007-02-23 Sold (Public Records) $54,950 Public Records
• 2006-07-23 Listed $54,950 MLSRV
• 1998-06-19 Sold (Public Records) $36,950 Public Records
• 1985-10-23 Sold (Public Records) $13,000 Public Records
• 1983-04-14 Sold (Public Records) $10,200 Public Records

Property tax history

+7.0%/yr

Latest (2025): $1,309 · +6.9% YoY. Source: county tax records.