512 Parkdale Dr · Salem, VA 24153

$249,950

3 bd · 2.0 ba · 1,125 sqft · SingleFamily public records · 181 Days on market

Built 1950 0.34 ac lot $222/sqft · at area comps Est $266k · 6% under

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Why this score? — see what drove the D 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).

• ARV discount +10.2/15.0
• Cash flow +9.8/30.0
• Schools +5.7/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

Key facts

• New kitchen
• New tiled bathroom
• New hvac

Tags

• REMODELED HOME
• NEW KITCHEN
• NEW HVAC
• NEW ROOF
• NEW HARDWOOD FLOORS
• NEW TILED BATHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (29.7% below list).
• Recommended offer: $176k (29.7% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.9% in Salem — 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 77/100 on livability (#104 in VA, #3,257 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Salem City Public School District (suburban): math 61% / reading 74% proficiency, ranked #35 of 131 in VA (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: G.W. Carver Elementary (math 57% / reading 61%, grade B-, #571 of 1,108 statewide, top 52%, 432 students, 73% FRL); Andrew Lewis Middle (math 57% / reading 72%, grade A-, #123 of 342 statewide, top 37%, 895 students, 44% FRL); Salem High (math 64% / reading 91%, grade A-, #83 of 319 statewide, top 28%, 1,227 students, 39% FRL) — zoned schools average 52% FRL vs 27% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.0%/yr); 274 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 268 units permitted in Salem city in 2024 (248 in 5+ unit buildings).

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.
• Salem County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $50k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $184k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $175,624 (29.7% 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. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.70% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.71%
• DSCR: 0.88
• GRM: 11.9

CMA / ARV

• ARV (median comp): $266,182
• List price: $249,950
• Delta: -6.10%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1211 Stoutamire Dr	0.17mi	3/1.0	1,068 (-5%)	8mo	$209,000	$196	73
1109 Stoutamire Dr	0.23mi	3/2.0	1,260 (+12%)	7mo	$330,000	$262	64
720 Camp North Rd	0.48mi	3/2.0	1,168 (+4%)	14mo	$277,500	$238	60
216 Ross St	0.43mi	2/1.0 (-1)	1,095 (-3%)	12mo	$225,000	$205	57
107 Carey Ave	0.58mi	3/2.0	1,040 (-8%)	7mo	$232,600	$224	55
103 Ross St	0.46mi	3/1.0	1,000 (-11%)	4mo	$133,400	$133	52
102 Ross St	0.47mi	3/1.0	1,000 (-11%)	8mo	$229,950	$230	48
17 Carey Ave	0.59mi	3/1.0	1,040 (-8%)	15mo	$201,000	$193	43
1527 Lenox Ave	0.42mi	3/2.0	1,288 (+14%)	24mo	$277,500	$215	36
107 Lakehurst Ave	0.51mi	3/1.0	994 (-12%)	24mo	$169,900	$171	33

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 · 5.98% rent growth · sell at horizon

5-year hold

• IRR: -17.9%
• Equity multiple: 0.35×
• Total profit: $-45,233
• Equity at exit: $37,268

10-year hold

• IRR: -5.8%
• Equity multiple: 0.59×
• Total profit: $-29,040
• Equity at exit: $21,611

Cash invested: $69,986 (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 24153

• Rents YoY: 6.0%
• Active inventory: 274
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,756 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$131 /mo · $1,567/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $-158

Break-even live

Break-even rent $1,956

Max offer price $222,027

Occupancy floor —

Sensitivity live

Price	-10% $-17	-5% $-87	+0% $-158	+5% $-229	+10% $-300
Rent	-10% $-297	-5% $-227	+0% $-158	+5% $-89	+10% $-19
Rate	-1.0pp $-32	-0.5pp $-94	base $-158	+0.5pp $-223	+1.0pp $-289

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: $62,488
• Closing costs: $7,498
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
328 Woodside Dr Salem, VA	3.0	2.5	1408	$1,999	$1.42	22d	1	0.45mi
128 Rutledge Dr Salem, VA	1.0–3.0	1.0–2.0	822	$1,505	$1.83	15d	13	0.61mi
1741 Pexton Ave Salem, VA	3.0	1.0	792	$1,452	$1.83	15d	1	0.76mi
777 Roanoke Blvd Salem, VA	1.0–3.0	1.0	779	$1,505	$1.93	15d	12	1.27mi
803 Roanoke Blvd Salem, VA	2.0	1.0	900	$1,295	$1.44	45d	1	1.31mi
14 W Carrollton Ave Salem, VA	3.0	1.0	1270	$1,895	$1.49	45d	1	1.47mi

Listing history 17 events

1. 2026-05-08
   status Pending 364-char remark

   Show marketing remark (364 chars)

   Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

2. 2026-04-30
   price $249,950 364-char remark

   Show marketing remark (364 chars)

   Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

3. 2026-04-15
   price $255,950 364-char remark

   Show marketing remark (364 chars)

   Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

4. 2026-03-30
   status Active 364-char remark

   Show marketing remark (364 chars)

   Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

5. 2026-03-25
   status Pending 364-char remark

   Show marketing remark (364 chars)

   Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

6. 2026-03-16
   price $259,950 364-char remark

   Show marketing remark (364 chars)

   Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

7. 2026-03-05
   price $262,950 364-char remark

   Show marketing remark (364 chars)

   Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

8. 2026-02-25
   price $264,950 364-char remark

   Show marketing remark (364 chars)

   Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

9. 2026-01-28
   price $269,950 364-char remark

   Show marketing remark (364 chars)

   Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

10. 2026-01-21
    price $274,950 364-char remark

    Show marketing remark (364 chars)

    Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

11. 2025-12-01
    price $279,950 364-char remark

    Show marketing remark (364 chars)

    Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

12. 2025-11-17
    price $284,950 364-char remark

    Show marketing remark (364 chars)

    Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

13. 2025-11-07
    price $289,950 364-char remark

    Show marketing remark (364 chars)

    Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

14. 2025-11-03
    listed $299,950 Active 364-char remark

    Show marketing remark (364 chars)

    Beautifully remodeled home in a great section of Salem, VA with beautiful views! New Kitchen, New HVAC, New roof, New hardwood floors, New tiled bathroom! New Appliances. House features 3 full bedrooms and 1.5 remodeled bathrooms! Agent licensed in state of virginia has ownership interest in this property. Taxes and square footage are estimated by realtor.

15. 2025-08-08
    soldstatus $184,000 Closed 799-char remark

    Show marketing remark (799 chars)

    Welcome to this Wonderful Salem neighborhood! A Great Location surrounded with Plenty of amenities along with a Desirable Salem School System. This Home Features a Nice Living room and a Dining/Kitchen combination with 2 bedrooms and 1 full bath on entry level. Upstairs features plenty of storage along with a 3rd bedroom option and a half bath. This Home has a lot of potential with the right amount of TLC. Seller says there are hardwoods under the carpet. The Fridge/Stove/Clothes Washer are still fairly new, Water Heater was replaced 11/24. All inspections are Welcomed! NOTE- Home is being Sold AS-IS And seller will make no repairs. Come check it out and Make This Your Dream Home Today!! Info gathered from Salem GIS. Agents Please Write in the Contract ''Listing Agent Related to Seller''

16. 2025-07-15
    status Pending 799-char remark

    Show marketing remark (799 chars)

    Welcome to this Wonderful Salem neighborhood! A Great Location surrounded with Plenty of amenities along with a Desirable Salem School System. This Home Features a Nice Living room and a Dining/Kitchen combination with 2 bedrooms and 1 full bath on entry level. Upstairs features plenty of storage along with a 3rd bedroom option and a half bath. This Home has a lot of potential with the right amount of TLC. Seller says there are hardwoods under the carpet. The Fridge/Stove/Clothes Washer are still fairly new, Water Heater was replaced 11/24. All inspections are Welcomed! NOTE- Home is being Sold AS-IS And seller will make no repairs. Come check it out and Make This Your Dream Home Today!! Info gathered from Salem GIS. Agents Please Write in the Contract ''Listing Agent Related to Seller''

17. 2025-07-10
    listed $189,900 Active 799-char remark

    Show marketing remark (799 chars)

    Welcome to this Wonderful Salem neighborhood! A Great Location surrounded with Plenty of amenities along with a Desirable Salem School System. This Home Features a Nice Living room and a Dining/Kitchen combination with 2 bedrooms and 1 full bath on entry level. Upstairs features plenty of storage along with a 3rd bedroom option and a half bath. This Home has a lot of potential with the right amount of TLC. Seller says there are hardwoods under the carpet. The Fridge/Stove/Clothes Washer are still fairly new, Water Heater was replaced 11/24. All inspections are Welcomed! NOTE- Home is being Sold AS-IS And seller will make no repairs. Come check it out and Make This Your Dream Home Today!! Info gathered from Salem GIS. Agents Please Write in the Contract ''Listing Agent Related to Seller''

ⓘ 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: $1,567 · $131/mo
• Projected year-2 tax: $2,050 · $171/mo
• Expected delta: +$483/yr (+$40/mo · 30.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 19 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: $21,075
• − Mortgage interest: −$14,001
• − Property taxes: −$1,567
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,686
• − Management: −$1,686
• − Depreciation: −$7,271
• Taxable loss: −$6,386
• Est. tax savings @ 24.0%: +$1,533
• After-tax cash flow: $-364/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: Salem City Public School District
• NCES district ID: 5103460
• Math proficiency: 61% ▼ -21.00%
• Reading proficiency: 74% ▼ -7.00%
• Median HH income: $49,976
• Composite: 57.25/100
• National rank: #1092
• State rank: #35 of 131 in VA

Livability — Salem

• Score: 77/100
• State rank: #104
• US rank: #3257

Category grades

Amenities F Commute F Cost of living A Crime C+ Employment B- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, VA
• County: Salem City · 38,914 people
• City population: 38,914
• Metro: Roanoke, VA
• Population (ZIP): 38,914
• Household income: $74,260
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 1115.0

Population outlook (Salem County) Hauer SSP2

• Today (2025): 26,761 people
• By 2030: 27,543 · +2.9%
• By 2040: 29,174 · +9.0%
• By 2050: 30,902 · +15.5%
• By 2075: 35,530 · +32.8%
• By 2100: 39,381 · +47.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 6% Hispanic / Latino 4% Two or more races 4% Asian 2%
• Common ancestry: Serbian 2% Slovak 2% Romanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Salem

• 2024 margin: R (+19.3) · D 39.8% · R 59.1% · Other 1.1%
• 2008→2024 swing: -3.8pp toward R · 2008: -15.5pp · 2024: -19.3pp
• All cycles: 2024: R+19.3 2020: R+19.4 2016: R+24.8 2012: R+20.6 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -259.46%
• Current HPI: 170.8986
• Rent YoY: ▲ 5.98%
• 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

+31.6% since first listed

17 events — show timeline

• 2026-05-08 Pending — MLSRV
• 2026-04-30 Price Changed $249,950 MLSRV
• 2026-04-15 Price Changed $255,950 MLSRV
• 2026-03-30 Relisted — MLSRV
• 2026-03-25 Pending — MLSRV
• 2026-03-16 Price Changed $259,950 MLSRV
• 2026-03-05 Price Changed $262,950 MLSRV
• 2026-02-25 Price Changed $264,950 MLSRV
• 2026-01-28 Price Changed $269,950 MLSRV
• 2026-01-21 Price Changed $274,950 MLSRV
• 2025-12-01 Price Changed $279,950 MLSRV
• 2025-11-17 Price Changed $284,950 MLSRV
• 2025-11-07 Price Changed $289,950 MLSRV
• 2025-11-03 Listed $299,950 MLSRV
• 2025-08-08 Sold (MLS) $184,000 MLSRV
• 2025-07-15 Pending — MLSRV
• 2025-07-10 Listed $189,900 MLSRV

Property tax history

+3.1%/yr

Latest (2025): $1,567 · +6.6% YoY. Source: county tax records.