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1608 Eastgate Ave
B- Composite 69.47
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 +4.8/10.0
  • Livability +3.7/5.0
  • Rent growth +2.5/5.0
  • Condition / age +1.0/5.0
  • Appreciation +0.0/10.0

$80,000

1608 Eastgate Ave · Roanoke, VA 24019
3 bd · 1.0 ba · 927 sqft · SingleFamily public records · 38 Days on market
Built 1948 Poor condition 9,945 sqft lot Garage $86/sqft · 59% below area

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

BRING ALL OFFERS, OWNER WANTS THIS SOLD NOW! Home sold 'AS-IS' No Warranties given or implied. Buyer to satisfy self as to condition & verify all information provided. Any inspections required by lender or municipalities is the responsibility of the Buyer.

Key facts

  • 5 year old roof
  • Value add potential
  • Spacious lot

Tags

SPACIOUS LOTDETACHED GARAGE5 YEAR OLD ROOFSOLID VINYL SIDINGVALUE ADD POTENTIAL

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 3-bed/1.0-bath single-family listed at $80k. Condition is rated poor.

Deal economics

  • At list price, monthly cash flow is $505 ($6k/yr) — positive.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($1k rent vs $80k).
  • Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
  • Cap rate 13.9% 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: Fallon Park Elementary (math 33% / reading 42%, grade F, #931 of 1,108 statewide, top 84%, 533 students, 99% FRL); Addison Aerospace Magnet Middle (math 25% / reading 55%, grade F, #306 of 342 statewide, top 90%, 523 students, 97% FRL); William Fleming High (math 66% / reading 68%, grade B, #185 of 319 statewide, top 61%, 1,911 students, 96% FRL) — zoned schools average 97% FRL vs 67% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
  • Market conditions: 249 active listings in the ZIP; 25 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; solid renter incomes; 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 $553 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 + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

  • It's been on market 38 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
  • 4 sale attempts since 19y ago; this cycle's ask has dropped $12k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
  • Current owner paid $65k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

  • Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
  • Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

  1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% 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 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  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
1.75%
Cap rate
13.87%
Cash-on-cash
27.07%
DSCR
2.20
GRM
4.8

CMA / ARV

ARV (median comp)
$194,150
List price
$80,000
Delta
-58.79%
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
1448 Archbold Ave NE 0.28mi 2/1.0 (-1) 930 (+0%) 7mo $199,950 $215 76
1427 Varnell Ave NE 0.24mi 2/1.5 (-1) 960 (+4%) 3mo $205,000 $214 73
1417 Varnell Ave NE 0.26mi 2/1.5 (-1) 960 (+4%) 5mo $213,000 $222 71
1807 Archbold Ave NE 0.29mi 2/1.0 (-1) 876 (-6%) 2mo $156,600 $179 70
1424 Varnell Ave NE 0.23mi 2/1.0 (-1) 875 (-6%) 6mo $198,000 $226 70
1503 23rd St NE 0.38mi 2/1.0 (-1) 902 (-3%) 4mo $145,000 $161 69
1424 Varnell Ave NE 0.23mi 2/1.0 (-1) 875 (-6%) 9mo $195,880 $224 68
920 Mohawk Ave NE 0.43mi 3/2.0 964 (+4%) 2mo $225,000 $233 68
1443 Varnell Ave NE 0.22mi 2/2.0 (-1) 1,003 (+8%) 8mo $200,000 $199 61
1416 Archbold Ave NE 0.32mi 2/1.0 (-1) 866 (-7%) 11mo $91,000 $105 60
1928 Archbold Ave NE 0.30mi 2/1.0 (-1) 828 (-11%) 10mo $208,500 $252 54
920 Pocahontas Ave NE 0.55mi 2/1.0 (-1) 816 (-12%) 6mo $210,000 $257 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 · 3.0% rent growth · sell at horizon

5-year hold
IRR
21.1%
Equity multiple
1.86×
Total profit
$19,269
Equity at exit
$11,928
10-year hold
IRR
29.2%
Equity multiple
3.61×
Total profit
$58,424
Equity at exit
$6,917

Cash invested: $22,400 (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.
Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
5 active · 7 under contract
Months of supply
3.3 mo (30%/mo absorbed)
Median asking
$195,600 ($243/sqft)
Median days on market
47 d
This list price
lowest-priced of the active set
ARV vs active asking
-13.7% vs current asking $/sqft

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

ZIP-level market 24019

Active inventory
249
Price-to-rent
4.8×

Monthly cashflow live

Estimated rent
$1,400 high interval (Pro) →
Mortgage (P&I)
$420
Tax from tax record
$148 /mo · $1,773/yr
Insurance
$33
HOA
$0
Vacancy / Maint / Mgmt
$294
Net cashflow
$505

Break-even live

Break-even rent $760
Max offer price $80,000
Occupancy floor 59%

Sensitivity live

Price -10% $551 -5% $528 +0% $505 +5% $483 +10% $460
Rent -10% $395 -5% $450 +0% $505 +5% $561 +10% $616
Rate -1.0pp $546 -0.5pp $526 base $505 +0.5pp $485 +1.0pp $463

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
$20,000
Closing costs
$2,400
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 25 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
1423 Varnell Ave NE Roanoke, VA 2.0 1.0 720 $1,650 $2.29 62d 1 0.26mi
916 Kyle Ave NE Roanoke, VA 2.0 1.0 642 $2,250 $3.50 62d 1 0.35mi
1824 Eastern Ave NE Roanoke, VA 2.0 1.0 863 $1,200 $1.39 93d 1 0.50mi
1708 Baldwin Ave NE Unit A Roanoke, VA 2.0 1.5 952 $1,550 $1.63 93d 1 0.64mi
2205 Larchwood St NE Roanoke, VA 4.0 2.0 675 $1,700 $2.52 93d 1 0.76mi
1712 Wayne St NE Roanoke, VA 2.0 1.0 826 $1,250 $1.51 70d 1 0.82mi
220 8th St Vinton, VA 2.0 1.0 850 $1,199 $1.41 62d 1 0.89mi
1905 Wise Ave SE Roanoke, VA 2.0 1.0 1044 $1,123 $1.08 62d 1 0.96mi
44 Forest Hill Ave NE Roanoke, VA 2.0 1.0 768 $1,150 $1.50 70d 1 1.07mi
2716 Edison St NE Unit & 2718 Roanoke, VA 2.0 1.5 864 $1,225 $1.42 93d 1 1.10mi
100 Highland Rd Vinton, VA 1.0–2.0 1.0–2.0 665 $1,195 $1.80 62d 1 1.13mi
1605 Church Ave SE Roanoke, VA 2.0 1.0 776 $1,200 $1.55 62d 1 1.14mi
339 Cedar Ave Vinton, VA 2.0 1.0 830 $1,200 $1.45 93d 1 1.20mi
3006 Hickory Woods Dr NE Roanoke, VA 1.0–3.0 1.0–2.0 922 $1,890 $2.05 62d 20 1.20mi
3111 Ellsworth St NE Roanoke, VA 1.0–2.0 1.0 662 $1,199 $1.81 62d 2 1.23mi
1515 Dunbar St NW Roanoke, VA 3.0 2.0 1058 $1,623 $1.53 62d 1 1.25mi
3228 Oliver Rd NE Roanoke, VA 3.0 1.0 1017 $1,150 $1.13 70d 1 1.32mi
2802 Vinyard Ave NE Unit 2 Roanoke, VA 2.0 1.0 950 $1,295 $1.36 62d 1 1.33mi
2812 Vinyard Ave NE Unit 2 Roanoke, VA 2.0 1.0 950 $1,295 $1.36 70d 1 1.34mi
2916 Courtland Rd NW Roanoke, VA 2.0 1.0 722 $1,123 $1.56 70d 1 1.40mi
3343 Glade Creek Blvd NE Roanoke, VA 1.0–3.0 1.0–2.0 1131 $2,230 $1.97 62d 28 1.44mi
709 Drew Ave NE Apt 2 Roanoke, VA 2.0 1.0 825 $1,050 $1.27 93d 1 1.45mi
1016 15th St SE #2 Roanoke, VA 3.0 1.5 1084 $995 $0.92 62d 1 1.45mi
106 Lee Ave NE Apt 10 Roanoke, VA 2.0 1.5 820 $1,160 $1.41 93d 1 1.46mi
106 Lee Ave NE Apt 10 Roanoke, VA 2.0 1.5 902 $1,125 $1.25 62d 1 1.46mi

Property features AI

Finance

Other
Pets allowed with no pet restrictions
Financial info
No investor or income/expense details provided
HOA & community
No HOA information provided

Exterior

Parking
Detached carport (1 space)Driveway with about 4 spacesTotal of about 5 garage/parking spaces
Security
No specific security features listed
Utilities
Public waterPublic sewerElectric heating and cooling fuel150 to 200+ amp electric service
Home design
Single-family (fee simple ownership)Estimated year builtEntry accessible (no stairs)Facing direction not provided
Construction
Vinyl sidingStick-built constructionCopper plumbingArchitectural shingle roofCrawl space foundation
Exterior features
Backs to treesCleared yardOpen lotSubdivision possibleNot in a federal flood zoneAbove-grade other structures

Interior

Kitchen
No kitchen appliance details provided
Bedrooms
Two main-level bedrooms
Flooring
No flooring details provided
Bathrooms
One full bathroom on the main level
Heating & cooling
Heat pump with electric backupWindow cooling unitsElectric hot water
Interior features
Partially furnishedPartial basementNo stairs / accessible featuresEstimated living area
Laundry & utility
No laundry appliance details provided

Listing history 11 events

  1. 2026-04-28
    price $80,000 980-char remark
  2. 2026-04-21
    listed $92,000 Active 980-char remark
  3. 2026-04-02
    historical
  4. 2026-03-05
    listed $150,000 Active
  5. 2007-10-31
    soldstatus $65,000
    Show marketing remark (262 chars)

    BRING ALL OFFERS, OWNER WANTS THIS SOLD NOW! Home sold 'AS-IS' No Warranties given or implied. Buyer to satisfy self as to condition & verify all information provided. Any inspections required by lender or municipalities is the responsibility of the Buyer.

  6. 2007-05-29
    listed $72,950
    Show marketing remark (262 chars)

    BRING ALL OFFERS, OWNER WANTS THIS SOLD NOW! Home sold 'AS-IS' No Warranties given or implied. Buyer to satisfy self as to condition & verify all information provided. Any inspections required by lender or municipalities is the responsibility of the Buyer.

  7. 2007-05-28
    historical
  8. 2007-02-28
    listed $78,900
  9. 2001-07-19
    soldstatus $69,000
  10. 1996-12-17
    soldstatus $35,300
  11. 1981-10-22
    soldstatus $8,000

ⓘ 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
$1,773 · $148/mo
Projected year-2 tax
$1,773 · $148/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 · 18 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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$16,799
− Mortgage interest
−$4,481
− Property taxes
−$1,773
− Insurance
−$400
− Repairs & maintenance
−$1,344
− Management
−$1,344
− Depreciation
−$2,327
Taxable income
$5,129
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$1,231
After-tax cash flow
$4,832/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 · 9 photos

Poor 20/100 Extensive rehab Est. rehab $46,350–$83,430 screening

This property requires extensive repairs and renovations to improve its condition and increase its value. The roof, exterior siding, flooring, interior walls, and HVAC system are in poor condition and require major repairs. Landscaping and painting are also needed to improve the home's curb appeal and increase its resale and rental value.

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

  • Major Roof (roof) — Significant damage to the roof structure is visible.
  • Major Windows (windows) — Windows appear to be broken or missing, indicating severe damage.
  • Major Electrical (electrical) — Exposed wiring and damaged electrical components suggest a major issue.
  • Major Plumbing (plumbing) — Significant water damage and debris indicate a major plumbing issue.
  • Major Exterior (exterior) — The exterior walls show extensive damage and missing sections.
  • Major Other — General state of disrepair and debris throughout the property.

Repairs flagged

  • Major roof — The roof appears to be in poor condition, with visible damage and wear.
  • Major exterior siding — The exterior siding is peeling and damaged, and the overall appearance is dilapidated.
  • Major flooring — The flooring in the interior appears to be in poor condition, with visible wear and tear.
  • Major interior walls — The interior walls show signs of damage and wear, with peeling paint and exposed areas.
  • Major bathrooms — The bathroom appears to be in poor condition, with visible damage and wear.
  • Major HVAC/mechanicals — The HVAC system appears to be in poor condition, with visible damage and wear.

Value-add opportunities

  • Resale roof replacement — A new roof will significantly improve the home's appearance and increase its resale value.
  • Resale exterior siding repair — Repairing the exterior siding will improve the home's curb appeal and increase its resale value.
  • Resale flooring replacement — Replacing the flooring will improve the home's appearance and increase its resale value.
  • Resale interior wall repair — Repairing the interior walls will improve the home's appearance and increase its resale value.
  • Resale bathroom renovation — Renovating the bathroom will improve the home's appearance and increase its resale value.
  • Resale HVAC system replacement — Replacing the HVAC system will improve the home's comfort and increase its resale value.
  • Both landscaping — Landscaping will improve the home's curb appeal and increase its resale and rental value.

ⓘ 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 48/100

Zoned Schools

Elementary Fallon Park Elementary F VA #931/1,108 Nat'l #21,283/41,679 Middle Addison Aerospace Magnet Middle F VA #306/342 Nat'l #6,005/14,009 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 County · 106,094 people
City population
168,930
Metro
Roanoke, VA
Population (ZIP)
28,585
Household income
$77,870
Rent vs Own
24.5% rent · 75.5% own
Severe rent burden
11% of renters

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
Predominantly White (76%)
Race & ethnicity
White 76% Black 13% Two or more races 4% Hispanic / Latino 4% Asian 3%
Common ancestry
Serbian 2% Slovak 2% Romanian 1%
Foreign-born
7% · Canada, Vietnam, China
Languages at home
93% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 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

Price history

+900.0% since first listed
12 events — show timeline
  • 2026-05-29 Listing Removed BRIGHT MLS
  • 2026-04-28 Price Changed $80,000 BRIGHT MLS
  • 2026-04-21 Listed $92,000 BRIGHT MLS
  • 2026-04-02 Listing Removed MLSRV
  • 2026-03-05 Listed $150,000 MLSRV
  • 2007-10-31 Sold (MLS) $65,000 MLSRV
  • 2007-05-29 Listed $72,950 MLSRV
  • 2007-05-28 Listing Removed MLSRV
  • 2007-02-28 Listed $78,900 MLSRV
  • 2001-07-19 Sold (Public Records) $69,000 Public Records
  • 1996-12-17 Sold (Public Records) $35,300 Public Records
  • 1981-10-22 Sold (Public Records) $8,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,773 · +18.1% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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