707 Bullitt Ave SE · Roanoke, VA 24013

$98,000

3 bd · 2.0 ba · 1,680 sqft · Other public records · 643 Days on market

Built 1925 5,200 sqft lot Est $135k · 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Duplex, both vacant

Key facts

• 5,200 sq ft lot
• Built 1925
• Listed 643 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $98k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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: 77 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 36% of the median local income ($51k/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 $678 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 + 3.0% 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 643 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $62k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $86,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 643 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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: 1.56% ✓
• Cap rate: 12.73%
• Cash-on-cash: 23.01%
• DSCR: 2.02
• GRM: 5.3

CMA / ARV

• ARV (median comp): $135,244
• List price: $98,000
• Delta: -27.54%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 1.64×
• Total profit: $17,652
• Equity at exit: $14,612

10-year hold

• IRR: 24.6%
• Equity multiple: 3.14×
• Total profit: $58,625
• Equity at exit: $8,473

Cash invested: $27,440 (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 24013

• Home prices YoY: -18.0%
• Active inventory: 77
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,531 high
• Mortgage (P&I): −$514
• Tax from tax record: −$129 /mo · $1,548/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $526

Break-even live

Break-even rent $865

Max offer price $98,000

Occupancy floor 61%

Sensitivity live

Price	-10% $582	-5% $554	+0% $526	+5% $498	+10% $471
Rent	-10% $405	-5% $466	+0% $526	+5% $587	+10% $647
Rate	-1.0pp $575	-0.5pp $551	base $526	+0.5pp $501	+1.0pp $475

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
730 Murray Ave SE Roanoke, VA	3.0	1.0	1163	$1,525	$1.31	44d	1	0.24mi
730 Murray Ave SE Roanoke, VA	3.0	1.0	1163	$1,525	$1.31	21d	1	0.24mi
1015 12th St SE Roanoke, VA	3.0	1.0	1072	$923	$0.86	44d	1	0.47mi
909 13th St SE Roanoke, VA	3.0	1.0	1870	$1,199	$0.64	44d	1	0.53mi
1016 15th St SE #2 Roanoke, VA	3.0	1.5	1084	$995	$0.92	14d	1	0.73mi
1817 Dale Ave SE Roanoke, VA	3.0	1.0	1820	$2,100	$1.15	44d	1	0.79mi
770 Riverland Rd SE Roanoke, VA	3.0	2.0	1200	$2,100	$1.75	44d	1	0.91mi
119 18th St SE Roanoke, VA	4.0	2.0	2104	$1,500	$0.71	14d	1	0.91mi
216 Patton Ave NW Unit 2 Roanoke, VA	2.0	1.0	1240	$1,025	$0.83	21d	1	0.96mi
430 Day Ave SW Unit A Roanoke, VA	2.0	1.0	1444	$1,650	$1.14	44d	1	1.03mi
333 Harrison Ave NW Roanoke, VA	3.0	2.0	1186	$1,123	$0.95	21d	1	1.11mi
401 Rutherford Ave NW Roanoke, VA	3.0	1.0	1064	$1,450	$1.36	44d	1	1.15mi
602 Elm Ave Unit B Roanoke, VA	2.0	1.0	1804	$1,250	$0.69	44d	1	1.22mi
1515 Dunbar St NW Roanoke, VA	3.0	2.0	1058	$1,623	$1.53	14d	1	1.25mi
701 Salem Ave SW Roanoke, VA	2.0	1.0	1250	$1,950	$1.56	44d	1	1.32mi
1625 Padbury Ave SE Roanoke, VA	4.0	1.0	1210	$1,700	$1.40	14d	1	1.35mi
813 Gilmer Ave NW Roanoke, VA	2.0	1.0	1050	$1,322	$1.26	21d	1	1.42mi
1922 Catawba St SE Roanoke, VA	4.0	1.0	1629	$2,000	$1.23	21d	1	1.46mi

Listing history 38 events

1. 2026-06-18
   days on market $98,000 Active 643 DOM
2. 2026-06-17
   days on market $98,000 Active 642 DOM
3. 2026-06-16
   days on market $98,000 Active 641 DOM
4. 2026-06-15
   days on market $98,000 Active 640 DOM
5. 2026-06-14
   days on market $98,000 Active 638 DOM
6. 2026-06-13
   days on market $98,000 Active 637 DOM
7. 2026-06-10
   days on market $98,000 Active 635 DOM
8. 2026-06-09
   days on market $98,000 Active 634 DOM
9. 2026-06-08
   days on market $98,000 Active 633 DOM
10. 2026-06-05
    days on market $98,000 Active 629 DOM
11. 2026-06-03
    days on market $98,000 Active 628 DOM
12. 2026-06-02
    days on market $98,000 Active 627 DOM
13. 2026-06-01
    days on market $98,000 Active 626 DOM
14. 2026-05-31
    days on market $98,000 Active 625 DOM
15. 2026-05-30
    days on market $98,000 Active 624 DOM
16. 2026-05-18
    price $98,000 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

17. 2026-02-06
    price $115,890 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

18. 2026-01-05
    price $118,256 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

19. 2025-11-13
    price $120,669 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

20. 2025-10-08
    price $123,132 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

21. 2025-09-03
    price $125,644 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

22. 2025-08-08
    price $128,209 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

23. 2025-06-20
    price $130,825 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

24. 2025-05-18
    price $133,495 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

25. 2025-04-11
    price $136,220 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

26. 2025-03-07
    price $139,000 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

27. 2024-12-20
    price $145,750 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

28. 2024-11-06
    price $155,750 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

29. 2024-09-13
    listed $160,000 Active 19-char remark

    Show marketing remark (19 chars)

    Duplex, both vacant

30. 2021-01-22
    soldstatus $585,000
31. 2015-09-14
    soldstatus $323,380
32. 2011-10-20
    soldstatus $21,250 383-char remark

    Show marketing remark (383 chars)

    Upstairs has 3 bedrooms, lower level has 1 bedroom. First floor could easily convert to 2 bedrooms. Sq. ft. lot size estimated. Property being sold as-is. Ask agent for details. Please note utilities are off at this property-bring a flashlight. See agent remarks for bidding instructions. Zoning RM-1. Case #541-686575 This is a foreclosed prop. No info avail on income or expenses.

33. 2011-10-20
    soldstatus $21,250

    Show marketing remark (383 chars)

    Upstairs has 3 bedrooms, lower level has 1 bedroom. First floor could easily convert to 2 bedrooms. Sq. ft. lot size estimated. Property being sold as-is. Ask agent for details. Please note utilities are off at this property-bring a flashlight. See agent remarks for bidding instructions. Zoning RM-1. Case #541-686575 This is a foreclosed prop. No info avail on income or expenses.

34. 2011-05-24
    listed $32,000 383-char remark

    Show marketing remark (383 chars)

    Upstairs has 3 bedrooms, lower level has 1 bedroom. First floor could easily convert to 2 bedrooms. Sq. ft. lot size estimated. Property being sold as-is. Ask agent for details. Please note utilities are off at this property-bring a flashlight. See agent remarks for bidding instructions. Zoning RM-1. Case #541-686575 This is a foreclosed prop. No info avail on income or expenses.

35. 2011-05-13
    listed $32,000
36. 2003-08-26
    soldstatus $75,000
37. 2003-08-26
    soldstatus $75,000
38. 1995-02-21
    soldstatus $45,000

ⓘ 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: $1,548 · $129/mo
• Projected year-2 tax: $1,548 · $129/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 ≥102°F today · 19 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: $18,377
• − Mortgage interest: −$5,490
• − Property taxes: −$1,548
• − Insurance: −$490
• − Repairs & maintenance: −$1,470
• − Management: −$1,470
• − Depreciation: −$2,851
• Taxable income: $5,058
• Est. tax owed @ 24.0%: −$1,214
• After-tax cash flow: $5,099/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): 8,026
• Household income: $51,290
• Rent vs Own: 56.3% rent · 43.7% own
• Severe rent burden: 345.0

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 57% Black 29% Two or more races 9% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1% Cuban 2%
• Common ancestry: Slovak 2% Greek 1% German 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% Vietnamese 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: ▼ -49.00%
• Current HPI: 223.42
• Rent YoY: —
• 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

+117.8% since first listed

23 events — show timeline

• 2026-05-18 Price Changed $98,000 MLSRV
• 2026-02-06 Price Changed $115,890 MLSRV
• 2026-01-05 Price Changed $118,256 MLSRV
• 2025-11-13 Price Changed $120,669 MLSRV
• 2025-10-08 Price Changed $123,132 MLSRV
• 2025-09-03 Price Changed $125,644 MLSRV
• 2025-08-08 Price Changed $128,209 MLSRV
• 2025-06-20 Price Changed $130,825 MLSRV
• 2025-05-18 Price Changed $133,495 MLSRV
• 2025-04-11 Price Changed $136,220 MLSRV
• 2025-03-07 Price Changed $139,000 MLSRV
• 2024-12-20 Price Changed $145,750 MLSRV
• 2024-11-06 Price Changed $155,750 MLSRV
• 2024-09-13 Listed $160,000 MLSRV
• 2021-01-22 Sold (Public Records) $585,000 Public Records
• 2015-09-14 Sold (Public Records) $323,380 Public Records
• 2011-10-20 Sold (MLS) $21,250 MHPCAR
• 2011-10-20 Sold (MLS) $21,250 MLSRV
• 2011-05-24 Listed $32,000 MLSRV
• 2011-05-13 Listed $32,000 MHPCAR
• 2003-08-26 Sold (Public Records) $75,000 Public Records
• 2003-08-26 Sold (Public Records) $75,000 Public Records
• 1995-02-21 Sold (Public Records) $45,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,548 · +7.1% YoY. Source: county tax records.