3843 Old Stevens Rd NW · Roanoke, VA 24017

$232,000

3 bd · 2.0 ba · 1,312 sqft · SingleFamily public records · 9 Days on market

Built 1965 0.38 ac lot Est $226k · at est.

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Why this score? — see what drove the F 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 +6.7/30.0
• ARV discount +6.2/15.0
• Schools +4.1/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0
• 1% rule +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 3843 Old Stevens Rd NW!! A well-kept split-level home that feels warm, comfortable, and ready for its next chapter. Featuring 3 bedrooms, 1.1 baths, and a lower level with a possible 4th bedroom plus additional living space, this home offers flexibility for guests, a home office, or cozy family room. Enjoy morning coffee or quiet evenings in the beautiful sunroom off the dining area, then step outside to the deck for cookouts, laughter, and backyard memories. A brand-new Generac generator adds peace of mind and everyday confidence. Convenient, inviting, and full of possibility this is the one you'll want to see! * * * Contact Tracy Brown for showings 540-798-1512

Key facts

• Generac generator
• Sunroom
• Deck

Tags

• SUNROOM
• DECK
• GENERAC GENERATOR

Property features AI

Finance

• Other: Property listed for $232,000; Annual tax approximately $1,340.78

Exterior

• Home design: Residential property; Built in 1965
• Construction: Built in 1965
• Exterior features: 0.38-acre lot

Interior

• Kitchen: Wall oven
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air gas heating; Has cooling
• Interior features: Wall oven; Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $232k.

Deal economics

• At list price, monthly cash flow is $-372 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (28.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (41.6% below list).
• Recommended offer: $136k (41.6% below list) — sets the bar for 1% rule.

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); Patrick Henry High (math 57% / reading 77%, grade B, #185 of 319 statewide, top 61%, 2,005 students, 95% FRL) — zoned schools average 98% FRL vs 67% district-wide (31 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 34% 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $42k; list at $232k implies a 454% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $135,533 (41.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.58% ✗
• Cap rate: 4.37%
• Cash-on-cash: -6.88%
• DSCR: 0.69
• GRM: 14.3

CMA / ARV

• ARV (on-the-fly): $225,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4305 Camille Ave NW	0.40mi	3/2.0	1,285 (-2%)	4mo	$259,950	$202	75
3702 Troutland Ave NW	0.38mi	3/1.0	1,260 (-4%)	2mo	$140,000	$111	70
3651 Troutland Ave NW	0.38mi	3/1.0	1,229 (-6%)	2mo	$180,000	$146	66
4446 Stonewall Rd NW	0.35mi	3/2.0	1,188 (-10%)	5mo	$266,950	$225	64
4509 Autumn Ln NW	0.38mi	3/2.0	1,445 (+10%)	4mo	$299,950	$208	62
3708 Michigan Ave NW	0.52mi	3/2.0	1,200 (-8%)	1mo	$247,000	$206	61
3828 Michigan Ave NW	0.47mi	4/1.0 (+1)	1,255 (-4%)	5mo	$140,000	$112	58
1008 Glenn Ridge Rd NW	0.56mi	3/2.0	1,421 (+8%)	6mo	$245,000	$172	55
3527 Troutland Ave NW	0.57mi	3/2.0	1,200 (-8%)	6mo	$230,000	$192	54
3731 Signal Hill Ave NW	0.61mi	3/1.0	1,416 (+8%)	5mo	$121,000	$85	50
514 Westwood Blvd NW	0.64mi	3/1.0	1,200 (-8%)	3mo	$128,000	$107	50
539 Crowmoor St NW	0.69mi	2/1.0 (-1)	1,164 (-11%)	4mo	$149,000	$128	37

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: -25.7%
• Equity multiple: 0.11×
• Total profit: $-57,596
• Equity at exit: $34,592

10-year hold

• IRR: -16.2%
• Equity multiple: 0.01×
• Total profit: $-64,546
• Equity at exit: $20,059

Cash invested: $64,960 (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: 14.3×

Monthly cashflow live

• Estimated rent: $1,355 high
• Mortgage (P&I): −$1,217
• Tax from tax record: −$130 /mo · $1,558/yr
• Insurance: −$97
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $-372

Break-even live

Break-even rent $1,827

Max offer price $166,211

Occupancy floor —

Sensitivity live

Price	-10% $-241	-5% $-307	+0% $-372	+5% $-438	+10% $-504
Rent	-10% $-479	-5% $-426	+0% $-372	+5% $-319	+10% $-265
Rate	-1.0pp $-256	-0.5pp $-313	base $-372	+0.5pp $-433	+1.0pp $-494

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: $58,000
• Closing costs: $6,960
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3802 Panorama Ave NW #12 Roanoke, VA	3.0	1.0	1100	$995	$0.90	45d	1	0.20mi
3802 Panorama Ave NW #6 Roanoke, VA	2.0	1.0	900	$1,050	$1.17	45d	1	0.20mi
3802 Panorama Ave NW #2 Roanoke, VA	2.0	1.0	900	$995	$1.11	45d	1	0.20mi
4626 Autumn Ln NW Roanoke, VA	3.0	2.5	1408	$1,999	$1.42	15d	1	0.50mi
4310 Tyree Rd NW Roanoke, VA	3.0	1.0	913	$1,650	$1.81	15d	1	0.86mi
900 Camelot Dr Salem, VA	1.0–3.0	1.0–1.5	905	$1,760	$1.94	15d	10	1.03mi
733 29th St NW Roanoke, VA	2.0–3.0	2.0	1022	$1,625	$1.59	15d	4	1.22mi
2744 Melrose Ave NW Roanoke, VA	1.0–2.0	1.0–1.5	936	$1,045	$1.12	15d	7	1.29mi

Listing history 3 events

1. 2026-05-16
   listed $232,000 Active
2. 1986-03-31
   soldstatus $41,900
3. 1984-10-12
   soldstatus $39,500

ⓘ 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: $1,558 · $130/mo
• Projected year-2 tax: $1,902 · $159/mo
• Expected delta: +$344/yr (+$29/mo · 22.1%)

ⓘ 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,264
• − Mortgage interest: −$12,996
• − Property taxes: −$1,558
• − Insurance: −$1,160
• − Repairs & maintenance: −$1,301
• − Management: −$1,301
• − Depreciation: −$6,749
• Taxable loss: −$8,801
• Est. tax savings @ 24.0%: +$2,112
• After-tax cash flow: $-2,357/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

+487.3% since first listed

3 events — show timeline

• 2026-05-16 Listed $232,000 MLSRV
• 1986-03-31 Sold (Public Records) $41,900 Public Records
• 1984-10-12 Sold (Public Records) $39,500 Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,558 · +0.2% YoY. Source: county tax records.