3705 Salem Tpke NW · Roanoke, VA 24017

$115,000

3 bd · 1.0 ba · 1,031 sqft · SingleFamily public records · 1 Days on market

Built 1933 0.25 ac lot Est $160k · 28% 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 +23.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.9/10.0
• 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

1 BEDROOM EFFICIENCY APARTMENT OVER THE GARAGE. GREAT FOR OCCUPANT AND RENT OUT THE GARAGE, OR RENT OUT BOTH. HOME SHOULD RENT FOR MIN. $450. AND EFFICIENCY RENT $250 TO $300 - $750 INCOME.

Key facts

• 0.25 acre lot
• Built 1933

Property features AI

Finance

• Other: Lot is approximately 0.25 acre

Exterior

• Home design: Residential property; Built in 1933
• Construction: Built in 1933
• Exterior features: Front porch

Interior

• Bedrooms: 3 bedrooms total, 2 on the main level
• Flooring: Laminate and wood flooring
• Bathrooms: 1 full bathroom, located on the main level
• Heating & cooling: Forced air gas heating; Home has cooling
• Interior features: 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 8.6% 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: Fairview Elementary (math 46% / reading 58%, grade C-, #696 of 1,108 statewide, top 66%, 505 students, 100% FRL); Woodrow Wilson Middle (math 38% / reading 63%, grade C, #226 of 342 statewide, top 67%, 642 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); 152 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 32% 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 $795 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 $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 24y 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 $60k; list at $115k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.12%
• DSCR: 1.36
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $159,805
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3809 Woodleigh Rd NW	0.25mi	3/1.0	1,000 (-3%)	3mo	$95,000	$95	81
553 Westwood Blvd NW	0.34mi	3/1.0	1,000 (-3%)	2mo	$156,000	$156	78
3768 Wilmont Ave NW	0.36mi	3/1.0	1,008 (-2%)	2mo	$142,000	$141	78
3726 Rolling Hill Ave NW	0.35mi	3/1.0	961 (-7%)	10mo	$150,000	$156	64
919 Glenn Ridge Rd NW	0.69mi	3/1.0	1,000 (-3%)	2mo	$130,000	$130	61
3664 Rolling Hills Ave NW	0.34mi	3/1.0	961 (-7%)	16mo	$174,000	$181	59
549 Westwood Blvd NW	0.35mi	3/1.0	968 (-6%)	20mo	$149,950	$155	57
539 Crowmoor St NW	0.40mi	2/1.0 (-1)	1,164 (+13%)	4mo	$149,000	$128	52
4024 Michigan Ave NW	0.50mi	2/1.0 (-1)	1,080 (+5%)	21mo	$127,000	$118	46
3540 Norway Ave NW	0.60mi	3/1.0	941 (-9%)	15mo	$175,000	$186	45
3658 Shenandoah Ave NW	0.43mi	3/2.0	1,120 (+9%)	22mo	$185,000	$165	44
4029 Michigan Ave NW	0.54mi	2/1.0 (-1)	913 (-11%)	13mo	$111,000	$122	39

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: -3.8%
• Equity multiple: 0.85×
• Total profit: $-4,737
• Equity at exit: $17,147

10-year hold

• IRR: 8.8%
• Equity multiple: 1.76×
• Total profit: $24,609
• Equity at exit: $9,943

Cash invested: $32,200 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,256 high
• Mortgage (P&I): −$603
• Tax from tax record: −$123 /mo · $1,477/yr
• Insurance: −$48
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $162

Break-even live

Break-even rent $1,050

Max offer price $115,000

Occupancy floor 82%

Sensitivity live

Price	-10% $227	-5% $195	+0% $162	+5% $130	+10% $97
Rent	-10% $63	-5% $113	+0% $162	+5% $212	+10% $262
Rate	-1.0pp $220	-0.5pp $192	base $162	+0.5pp $133	+1.0pp $102

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3802 Panorama Ave NW #6 Roanoke, VA	2.0	1.0	900	$1,050	$1.17	44d	1	0.21mi
3802 Panorama Ave NW #12 Roanoke, VA	3.0	1.0	1100	$995	$0.90	44d	1	0.21mi
3802 Panorama Ave NW #2 Roanoke, VA	2.0	1.0	900	$995	$1.11	44d	1	0.21mi
4626 Autumn Ln NW Roanoke, VA	3.0	2.5	1408	$1,999	$1.42	14d	1	0.83mi
733 29th St NW Roanoke, VA	2.0–3.0	2.0	1022	$1,625	$1.59	14d	4	0.90mi
4310 Tyree Rd NW Roanoke, VA	3.0	1.0	913	$1,650	$1.81	14d	1	0.93mi
2744 Melrose Ave NW Roanoke, VA	1.0–2.0	1.0–1.5	936	$1,045	$1.12	14d	7	0.96mi
1331 Dudley St NW Roanoke, VA	2.0	1.0	700	$1,500	$2.14	14d	1	1.29mi
900 Camelot Dr Salem, VA	1.0–3.0	1.0–1.5	905	$1,760	$1.94	14d	10	1.32mi
3340 Hershberger Rd NW Roanoke, VA	2.0	1.0	924	$1,050	$1.14	44d	1	1.34mi
1301 Burks St SW Unit 204 Roanoke, VA	2.0	1.0	794	$890	$1.12	44d	1	1.35mi
2633 Westover Ave SW Roanoke, VA	2.0	1.0	828	$1,045	$1.26	14d	1	1.36mi
2633 Westover Ave SW Unit 1 Roanoke, VA	2.0	1.0	828	$1,045	$1.26	22d	1	1.36mi
2627 Westover Ave SW Roanoke, VA	2.0	1.0	828	$1,015	$1.23	45d	1	1.37mi
2601 Westover Ave SW Roanoke, VA	2.0	1.0	828	$940	$1.14	45d	1	1.39mi
2251 Mountain View Ter SW Roanoke, VA	2.0	1.0	830	$988	$1.19	44d	1	1.41mi
2608 Florida Ave NW Roanoke, VA	3.0	1.0	1394	$1,600	$1.15	22d	1	1.48mi

Listing history 11 events

1. 2026-05-20
   status Pending
2. 2026-05-20
   listed $115,000 Active
3. 2021-03-25
   soldstatus $60,000
4. 2021-02-02
   historical
5. 2021-01-26
   listed $79,950
6. 2003-04-30
   soldstatus $45,000 189-char remark

   Show marketing remark (189 chars)

   1 BEDROOM EFFICIENCY APARTMENT OVER THE GARAGE. GREAT FOR OCCUPANT AND RENT OUT THE GARAGE, OR RENT OUT BOTH. HOME SHOULD RENT FOR MIN. $450. AND EFFICIENCY RENT $250 TO $300 - $750 INCOME.

7. 2003-04-25
   soldstatus $45,000
8. 2003-01-17
   listed $47,500 189-char remark

   Show marketing remark (189 chars)

   1 BEDROOM EFFICIENCY APARTMENT OVER THE GARAGE. GREAT FOR OCCUPANT AND RENT OUT THE GARAGE, OR RENT OUT BOTH. HOME SHOULD RENT FOR MIN. $450. AND EFFICIENCY RENT $250 TO $300 - $750 INCOME.

9. 2002-05-29
   historical
10. 2002-05-16
    listed $55,950
11. 1985-11-19
    soldstatus $14,000

ⓘ 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: $1,477 · $123/mo
• Projected year-2 tax: $1,477 · $123/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 8/10 Severe FEMA zone X (unshaded) · 98% 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: $15,068
• − Mortgage interest: −$6,442
• − Property taxes: −$1,477
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$3,345
• Taxable income: $151
• Est. tax owed @ 24.0%: −$36
• After-tax cash flow: $1,912/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

+721.4% since first listed

11 events — show timeline

• 2026-05-20 Pending — MLSRV
• 2026-05-20 Listed $115,000 MLSRV
• 2021-03-25 Sold (Public Records) $60,000 Public Records
• 2021-02-02 Listing Removed — MLSRV
• 2021-01-26 Listed $79,950 MLSRV
• 2003-04-30 Sold (MLS) $45,000 MLSRV
• 2003-04-25 Sold (Public Records) $45,000 Public Records
• 2003-01-17 Listed $47,500 MLSRV
• 2002-05-29 Listing Removed — MLSRV
• 2002-05-16 Listed $55,950 MLSRV
• 1985-11-19 Sold (Public Records) $14,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $1,477 · +16.3% YoY. Source: county tax records.