1424 Orange Ave NW Unit & 1422 · Roanoke, VA 24017

$133,149

None bd · None ba · — sqft · MultiFamily · 308 Days on market

Built 1900 Fair condition 6,534 sqft lot Est $215k · 38% under

---

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
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

One vacant, one occupied (Lease ends 5/31/26), must give 48 hr notice.

Key facts

• 6,534 sq ft lot
• Built 1900
• Listed 308 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $133k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $859 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $133k).
• Recommended offer: $117k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.5% 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); 151 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 113 units permitted in Roanoke city in 2024 (0 in 5+ unit buildings).
• At $2,322/mo this rent would consume 59% of the median local household income ($47k/yr) (locally 913% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $921 of loan paydown is wiped out by about $4k 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 $37k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 308 days — a 12% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $27k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $117,171 (12.0% below list)

Questions for the listing agent

1. It's been on market 308 days. Have you received any prior offers? Is the seller open to a 12% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.74% ✓
• Cap rate: 14.53%
• Cash-on-cash: 29.43%
• DSCR: 2.31
• GRM: 4.8

CMA / ARV

• ARV (median comp): $215,130
• List price: $133,149
• Delta: -38.11%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1406 Melrose Ave NW	0.08mi	—/—	—	10mo	$235,000	—	76
1710 Mercer Ave NW	0.30mi	—/—	1,188	6mo	$80,000	$67	69
1704 Hanover Ave NW	0.22mi	—/—	—	12mo	$240,000	—	67
1821 Moorman Ave NW	0.37mi	—/—	—	7mo	$143,500	—	64
1213 Hanover Ave NW Unit & 1215	0.21mi	—/—	—	19mo	$55,000	—	62
609 12th St NW	0.28mi	—/—	—	18mo	$175,000	—	60
2105 Staunton Ave NW Unit & 2107	0.58mi	—/—	—	7mo	$180,000	—	55
911 Madison Ave NW	0.43mi	—/—	—	18mo	$100,000	—	52
2119 Staunton Ave NW	0.61mi	—/—	—	9mo	$156,800	—	52
919 Gilmer Ave NW	0.51mi	—/—	—	19mo	$165,000	—	48
605 8th St NW	0.61mi	—/—	—	21mo	$122,500	—	42

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: 24.9%
• Equity multiple: 2.06×
• Total profit: $39,686
• Equity at exit: $19,853

10-year hold

• IRR: 34.4%
• Equity multiple: 4.58×
• Total profit: $133,470
• Equity at exit: $11,512

Cash invested: $37,282 (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: 151
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,322 high
• Mortgage (P&I): −$698
• Tax est. 1.5%: −$166 /mo · $1,997/yr
• Insurance: −$55
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $859

Break-even live

Break-even rent $1,235

Max offer price $133,149

Occupancy floor 58%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,322
Total (2 units)			$2,322

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: $33,287
• Closing costs: $3,994
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 Moorman Ave NW Apt E Roanoke, VA	1.0	1.0	500	$750	$1.50	13d	1	0.18mi
1502 Gilmer Ave NW Apt B Roanoke, VA	2.0	1.0	—	$995	—	13d	1	0.21mi
821 12th St NW Roanoke, VA	3.0	2.0	1508	$1,625	$1.08	43d	1	0.25mi
1116 Fairfax Ave NW Roanoke, VA	2.0	1.0	800	$1,400	$1.75	21d	1	0.32mi
1117 Rugby Blvd NW Unit B Roanoke, VA	2.0	1.0	1048	$778	$0.74	21d	1	0.40mi
1007 Gilmer Ave NW Roanoke, VA	2.0	2.0	1187	$1,175	$0.99	21d	1	0.42mi
1920 Melrose Ave NW Roanoke, VA	2.0	1.0	768	$950	$1.24	43d	1	0.43mi
1533 Rugby Blvd NW Roanoke, VA	3.0	1.0	1500	$1,475	$0.98	43d	1	0.46mi
1531 Syracuse Ave NW Roanoke, VA	3.0	1.0	1488	$1,675	$1.13	43d	1	0.53mi
10 12 1/2 St SW Roanoke, VA	3.0	1.5	999	$1,023	$1.02	43d	1	0.57mi
813 Gilmer Ave NW Roanoke, VA	2.0	1.0	1050	$1,322	$1.26	21d	1	0.57mi
717 Orange Ave NW Roanoke, VA	2.0	1.0	738	$900	$1.22	43d	1	0.62mi
2125 Orange Ave NW Roanoke, VA	3.0	1.0	—	$1,095	—	13d	1	0.62mi
2125 Orange Ave NW Apt B Roanoke, VA	3.0	1.0	—	$1,195	—	21d	1	0.62mi
829 Salem Ave SW Unit 3 Roanoke, VA	1.0	1.0	443	$1,900	$4.29	13d	1	0.76mi
2324 Orange Ave NW Unit Up Roanoke, VA	2.0	1.0	—	$999	—	21d	1	0.78mi
2324 Staunton Ave NW Roanoke, VA	3.0	1.0	—	$1,395	—	43d	1	0.79mi
416 Hanover Ave NW Roanoke, VA	2.0	1.0	682	$1,195	$1.75	13d	1	0.81mi
1422 Patterson Ave SW Unit 1 Roanoke, VA	2.0	1.0	—	$1,125	—	13d	1	0.83mi
701 Salem Ave SW Roanoke, VA	2.0	1.0	1250	$1,950	$1.56	43d	1	0.85mi
802 Rorer Ave SW Apt A Roanoke, VA	2.0	1.0	820	$895	$1.09	43d	1	0.86mi
1405 Chapman Ave SW Roanoke, VA	1.0	1.0	—	$815	—	43d	1	0.86mi
1630 Patterson Ave SW Unit B Roanoke, VA	3.0	1.0	1200	$1,395	$1.16	43d	1	0.87mi
401 Rutherford Ave NW Roanoke, VA	3.0	1.0	1064	$1,450	$1.36	43d	1	0.89mi
1334 Chapman Ave SW Apt 4 Roanoke, VA	2.0	1.0	—	$1,075	—	43d	1	0.89mi
1825 Patterson Ave SW Unit B Roanoke, VA	2.0	1.0	1000	$850	$0.85	43d	1	0.89mi
1430 Chapman Ave SW Unit 2 Roanoke, VA	2.0	1.0	—	$1,150	—	13d	1	0.89mi
333 Harrison Ave NW Roanoke, VA	3.0	2.0	1186	$1,123	$0.95	21d	1	0.90mi
1901 Patterson Ave SW Apt A Roanoke, VA	3.0	1.0	—	$1,200	—	43d	1	0.90mi
2445 Maryland Ave NW #1 Roanoke, VA	3.0	1.0	—	$923	—	43d	1	0.91mi
1717 Chapman Ave SW Roanoke, VA	2.0	1.0	—	$1,195	—	13d	1	0.92mi
1106 Campbell Ave SW Roanoke, VA	2.0	1.0	850	$950	$1.12	13d	1	0.93mi
1624 Chapman Ave SW Unit A6 Roanoke, VA	1.0	1.0	650	$799	$1.23	21d	1	0.93mi
631 Campbell Ave SW Unit 111 Roanoke, VA	1.0	1.0	575	$1,035	$1.80	21d	1	0.96mi
1114 Lafayette Blvd NW Unit 1 Roanoke, VA	2.0	1.0	—	$1,095	—	21d	1	0.97mi
605 Calvary St SW Apt A Roanoke, VA	1.0	1.0	838	$2,100	$2.51	21d	1	1.02mi
605 Calvary St SW Apt A Roanoke, VA	1.0	1.0	838	$2,100	$2.51	13d	1	1.02mi
216 Patton Ave NW Unit 2 Roanoke, VA	2.0	1.0	1240	$1,025	$0.83	21d	1	1.05mi
357 Salem Ave SW Apt 405 Roanoke, VA	1.0	1.0	544	$955	$1.76	21d	1	1.06mi
2608 Florida Ave NW Roanoke, VA	3.0	1.0	1394	$1,600	$1.15	21d	1	1.06mi

Listing history 23 events

1. 2026-06-18
   days on market $133,149 Active 308 DOM
2. 2026-06-17
   days on market $133,149 Active 307 DOM
3. 2026-06-16
   days on market $133,149 Active 306 DOM
4. 2026-06-15
   days on market $133,149 Active 305 DOM
5. 2026-06-14
   days on market $133,149 Active 303 DOM
6. 2026-06-13
   days on market $133,149 Active 302 DOM
7. 2026-06-10
   days on market $133,149 Active 300 DOM
8. 2026-06-09
   days on market $133,149 Active 299 DOM
9. 2026-06-08
   days on market $133,149 Active 298 DOM
10. 2026-06-05
    days on market $133,149 Active 294 DOM
11. 2026-06-03
    pricedays on market $133,149 Active 293 DOM
12. 2026-06-02
    days on market $140,157 Active 292 DOM
13. 2026-06-01
    days on market $140,157 Active 291 DOM
14. 2026-05-31
    days on market $140,157 Active 290 DOM
15. 2026-05-30
    days on market $140,157 Active 289 DOM
16. 2026-05-05
    price $140,157 70-char remark

    Show marketing remark (70 chars)

    One vacant, one occupied (Lease ends 5/31/26), must give 48 hr notice.

17. 2026-02-05
    price $147,533 70-char remark

    Show marketing remark (70 chars)

    One vacant, one occupied (Lease ends 5/31/26), must give 48 hr notice.

18. 2026-01-05
    price $150,543 70-char remark

    Show marketing remark (70 chars)

    One vacant, one occupied (Lease ends 5/31/26), must give 48 hr notice.

19. 2025-11-13
    price $153,616 70-char remark

    Show marketing remark (70 chars)

    One vacant, one occupied (Lease ends 5/31/26), must give 48 hr notice.

20. 2025-10-08
    price $156,751 70-char remark

    Show marketing remark (70 chars)

    One vacant, one occupied (Lease ends 5/31/26), must give 48 hr notice.

21. 2025-08-14
    listed $159,950 Active 70-char remark

    Show marketing remark (70 chars)

    One vacant, one occupied (Lease ends 5/31/26), must give 48 hr notice.

22. 2018-06-08
    historical
23. 2018-01-25
    listed $57,950

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% 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: $27,864
• − Mortgage interest: −$7,458
• − Property taxes: −$1,997
• − Insurance: −$1,332
• − Repairs & maintenance: −$2,229
• − Management: −$2,229
• − Depreciation: −$3,873
• Taxable income: $8,744
• Est. tax owed @ 24.0%: −$2,099
• After-tax cash flow: $8,205/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 · 13 photos

Fair 45/100 Moderate rehab

The property requires moderate repairs and maintenance, with the highest ROI coming from updating the exterior, kitchen, and bathroom.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — slight wear
• Moderate exterior paint — moderate discoloration

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both replace kitchen cabinets — modernizes kitchen and improves resale value
• Both replace bathroom fixtures — modernizes bathroom and improves resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · slight wear	Minor	$500–3,000
exterior paint · moderate discoloration	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both replace kitchen cabinets — modernizes kitchen and improves resale value ↑
• Both replace bathroom fixtures — modernizes bathroom and improves resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+141.9% since first listed

8 events — show timeline

• 2026-05-05 Price Changed $140,157 MLSRV
• 2026-02-05 Price Changed $147,533 MLSRV
• 2026-01-05 Price Changed $150,543 MLSRV
• 2025-11-13 Price Changed $153,616 MLSRV
• 2025-10-08 Price Changed $156,751 MLSRV
• 2025-08-14 Listed $159,950 MLSRV
• 2018-06-08 Listing Removed — MLSRV
• 2018-01-25 Listed $57,950 MLSRV