1622 Aspen St NW · Roanoke, VA 24017

$95,000

2 bd · 1.0 ba · 1,225 sqft · SingleFamily public records · 78 Days on market

Built 1947 9,583 sqft lot $78/sqft · 47% below area Est $180k · 47% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Schools +4.1/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• 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 $95k.

Deal economics

• At list price, monthly cash flow is $462 ($6k/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 12.1% 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 rising fast (+5.7%/yr); 152 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 113 units permitted in Roanoke city in 2024 (0 in 5+ unit buildings).
• This rent runs 36% 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 + 5.7% rent growth), your $27k cash investment doubles in ~6 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 since 20y ago; this cycle's ask has dropped $30k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $95k implies a 73% gain — meaningful room to come down on a strong offer.

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 $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 1947 — 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: 1.48% ✓
• Cap rate: 12.13%
• Cash-on-cash: 20.84%
• DSCR: 1.93
• GRM: 5.6

CMA / ARV

• ARV (median comp): $179,639
• List price: $95,000
• Delta: -47.12%
• 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%)	20mo	$229,950	$186	70
1513 Aspen St NW	0.19mi	3/1.0 (+1)	1,143 (-7%)	8mo	$198,950	$174	68
2820 Clifton St NW	0.45mi	2/1.0	1,224 (-0%)	17mo	$87,500	$71	65
1012 Crescent St NW	0.69mi	3/1.0 (+1)	1,276 (+4%)	1mo	$78,000	$61	55
3052 Ferncliff Ave NW	0.34mi	3/1.0 (+1)	1,060 (-14%)	10mo	$225,000	$212	49
2927 Grand Ave NW	0.59mi	2/1.0	1,380 (+13%)	21mo	$110,000	$80	34
2764 Clifton St NW	0.54mi	2/2.0	1,058 (-14%)	19mo	$70,000	$66	32

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: 16.3%
• Equity multiple: 1.68×
• Total profit: $17,981
• Equity at exit: $14,165

10-year hold

• IRR: 26.7%
• Equity multiple: 3.66×
• Total profit: $70,668
• 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 24017

• Home prices YoY: -28.3%
• Rents YoY: 5.7%
• Active inventory: 152
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,404 high
• Mortgage (P&I): −$498
• Tax from tax record: −$109 /mo · $1,309/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $462

Break-even live

Break-even rent $819

Max offer price $95,000

Occupancy floor 62%

Sensitivity live

Price	-10% $516	-5% $489	+0% $462	+5% $435	+10% $408
Rent	-10% $351	-5% $407	+0% $462	+5% $518	+10% $573
Rate	-1.0pp $510	-0.5pp $486	base $462	+0.5pp $437	+1.0pp $412

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 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	44d	1	0.05mi
2608 Florida Ave NW Roanoke, VA	3.0	1.0	1394	$1,600	$1.15	22d	1	0.33mi
1331 Dudley St NW Roanoke, VA	2.0	1.0	700	$1,500	$2.14	14d	1	0.43mi
3340 Hershberger Rd NW Roanoke, VA	2.0	1.0	924	$1,050	$1.14	44d	1	0.59mi
2801 Hershberger Rd NW Roanoke, VA	1.0–2.0	1.0–2.0	956	$1,965	$2.06	14d	14	0.68mi
3533 Ferncliff Ave NW Roanoke, VA	1.0–3.0	1.0	980	$1,142	$1.16	14d	11	0.85mi
2744 Melrose Ave NW Roanoke, VA	1.0–2.0	1.0–1.5	936	$1,045	$1.12	14d	7	0.91mi
1716 Empress Dr NW Roanoke, VA	1.0–2.0	1.0	671	$1,040	$1.55	14d	1	0.98mi
1531 Syracuse Ave NW Roanoke, VA	3.0	1.0	1488	$1,675	$1.13	44d	1	0.99mi
1533 Rugby Blvd NW Roanoke, VA	3.0	1.0	1500	$1,475	$0.98	44d	1	1.00mi
2215 Montauk Rd NW Roanoke, VA	1.0–2.0	1.0–1.5	653	$1,425	$2.18	14d	5	1.04mi
733 29th St NW Roanoke, VA	2.0–3.0	2.0	1022	$1,449	$1.42	14d	4	1.09mi
1920 Melrose Ave NW Roanoke, VA	2.0	1.0	768	$950	$1.24	44d	1	1.10mi
4823 Rutgers St NW Roanoke, VA	1.0–3.0	1.0	771	$1,199	$1.56	14d	5	1.25mi
2318 Highland Farm Rd NW Roanoke, VA	2.0–3.0	1.0–1.5	1208	$1,224	$1.01	14d	4	1.26mi
1117 Rugby Blvd NW Unit B Roanoke, VA	2.0	1.0	1048	$778	$0.74	22d	1	1.38mi

Listing history 24 events

1. 2026-06-21
   days on market $95,000 Active 78 DOM
2. 2026-06-18
   days on market $95,000 Active 75 DOM
3. 2026-06-17
   days on market $95,000 Active 74 DOM
4. 2026-06-16
   price $95,000 Active 73 DOM
5. 2026-06-16
   days on market $100,000 Active 73 DOM
6. 2026-06-15
   days on market $100,000 Active 72 DOM
7. 2026-06-14
   days on market $100,000 Active 70 DOM
8. 2026-06-13
   days on market $100,000 Active 69 DOM
9. 2026-06-10
   statusdays on market $100,000 Active 67 DOM
10. 2026-05-30
    status $100,000 Pending 66 DOM
11. 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.

12. 2026-04-30
    price $109,925 400-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.

13. 2026-04-23
    price $109,950 400-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.

14. 2026-04-16
    price $109,975 400-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.

15. 2026-04-10
    price $110,000 400-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.

16. 2026-04-09
    price $124,975 400-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.

17. 2026-03-24
    listed $125,000 Active 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.

18. 2007-03-12
    soldstatus $54,950 229-char remark

    Show marketing remark (229 chars)

    Great First Home! 3BR, 1BA, Ranch has over 1,000 Sqft, eat in kitchen, small office, dining room, walk in closet, and a large yard with plenty of off street parking. Home has recently been repainted on the interior and exterior.

19. 2007-02-23
    soldstatus $54,950
20. 2007-02-23
    soldstatus $54,950
21. 2006-07-23
    listed $54,950 229-char remark

    Show marketing remark (229 chars)

    Great First Home! 3BR, 1BA, Ranch has over 1,000 Sqft, eat in kitchen, small office, dining room, walk in closet, and a large yard with plenty of off street parking. Home has recently been repainted on the interior and exterior.

22. 1998-06-19
    soldstatus $36,950
23. 1985-10-23
    soldstatus $13,000
24. 1983-04-14
    soldstatus $10,200

ⓘ 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: −$5,321
• − Property taxes: −$1,309
• − Insurance: −$475
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$2,764
• Taxable income: $4,280
• Est. tax owed @ 24.0%: −$1,027
• After-tax cash flow: $4,518/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): 23,678
• Household income: $47,360
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 913.0

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 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%

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

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.