28-30 Hillcrest Ave NE · Roanoke, VA 24012

$179,256

2 bd · 2.0 ba · 1,250 sqft · Other public records · 799 Days on market

Built 1967 6,020 sqft lot

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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).

• Cash flow +12.4/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• DSCR +3.7/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Both units occupied.

Key facts

• Second unit vacant
• 6,020 sq ft lot
• Built 1967

Tags

• SECOND UNIT VACANT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $179k.

Deal economics

• At list price, monthly cash flow is $-31 ($-373/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (18.4% below list).
• Recommended offer: $146k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 (+10.5%/yr); 194 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 33% of the median local income ($53k/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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 799 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $108k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $146,263 (18.4% 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 799 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — 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. 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?
8. 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?
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 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: 0.82% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.74%
• DSCR: 0.97
• GRM: 10.2

CMA / ARV

• ARV (median comp): $80,000
• List price: $179,256
• Delta: 124.07%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.54×
• Total profit: $-23,310
• Equity at exit: $26,728

10-year hold

• IRR: 2.8%
• Equity multiple: 1.24×
• Total profit: $12,290
• Equity at exit: $15,499

Cash invested: $50,192 (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 24012

• Rents YoY: 10.5%
• Active inventory: 194
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,463 high
• Mortgage (P&I): −$940
• Tax from tax record: −$172 /mo · $2,062/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-31

Break-even live

Break-even rent $1,502

Max offer price $173,758

Occupancy floor 97%

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: $44,814
• Closing costs: $5,378
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2109 Colgate St NE Roanoke, VA	3.0	1.0	1240	$1,700	$1.37	13d	1	0.30mi
1515 Dunbar St NW Roanoke, VA	3.0	2.0	1058	$1,623	$1.53	13d	1	0.57mi
106 Lee Ave NE Apt 10 Roanoke, VA	2.0	1.5	902	$1,125	$1.25	13d	1	0.62mi
3228 Oliver Rd NE Roanoke, VA	3.0	1.0	1017	$1,150	$1.13	20d	1	0.79mi
3323 Collingwood St NE Roanoke, VA	3.0	2.0	1200	$2,150	$1.79	43d	1	0.83mi
401 Rutherford Ave NW Roanoke, VA	3.0	1.0	1064	$1,450	$1.36	43d	1	1.04mi
1117 Rugby Blvd NW Unit B Roanoke, VA	2.0	1.0	1048	$778	$0.74	20d	1	1.07mi
333 Harrison Ave NW Roanoke, VA	3.0	2.0	1186	$1,123	$0.95	20d	1	1.09mi
216 Patton Ave NW Unit 2 Roanoke, VA	2.0	1.0	1240	$1,025	$0.83	20d	1	1.15mi
3816 Plantation Rd NE Roanoke, VA	2.0	2.0	1267	$1,700	$1.34	43d	1	1.21mi
821 12th St NW Roanoke, VA	3.0	2.0	1508	$1,625	$1.08	43d	1	1.22mi
3843 Plantation Rd NE Roanoke, VA	2.0	1.0	1870	$1,500	$0.80	43d	1	1.24mi
1531 Syracuse Ave NW Roanoke, VA	3.0	1.0	1488	$1,675	$1.13	43d	1	1.29mi
813 Gilmer Ave NW Roanoke, VA	2.0	1.0	1050	$1,322	$1.26	20d	1	1.32mi
1533 Rugby Blvd NW Roanoke, VA	3.0	1.0	1500	$1,475	$0.98	43d	1	1.33mi
1007 Gilmer Ave NW Roanoke, VA	2.0	2.0	1187	$1,175	$0.99	20d	1	1.39mi

Listing history 34 events

1. 2026-06-18
   days on market $179,256 Active 799 DOM
2. 2026-06-17
   days on market $179,256 Active 798 DOM
3. 2026-06-16
   days on market $179,256 Active 797 DOM
4. 2026-06-15
   days on market $179,256 Active 796 DOM
5. 2026-06-14
   days on market $179,256 Active 794 DOM
6. 2026-06-13
   days on market $179,256 Active 793 DOM
7. 2026-06-10
   days on market $179,256 Active 791 DOM
8. 2026-06-09
   days on market $179,256 Active 790 DOM
9. 2026-06-08
   days on market $179,256 Active 789 DOM
10. 2026-06-05
    days on market $179,256 Active 785 DOM
11. 2026-06-03
    days on market $179,256 Active 784 DOM
12. 2026-06-02
    days on market $179,256 Active 783 DOM
13. 2026-06-01
    days on market $179,256 Active 782 DOM
14. 2026-05-31
    days on market $179,256 Active 781 DOM
15. 2026-05-30
    days on market $179,256 Active 780 DOM
16. 2026-02-06
    price $179,256 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

17. 2026-01-05
    price $182,914 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

18. 2025-11-13
    price $186,647 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

19. 2025-10-08
    price $190,456 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

20. 2025-09-03
    price $194,343 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

21. 2025-08-08
    price $198,309 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

22. 2025-06-20
    price $202,356 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

23. 2025-05-18
    price $206,486 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

24. 2025-04-11
    price $210,700 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

25. 2025-03-07
    price $215,000 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

26. 2024-12-20
    price $220,000 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

27. 2024-11-06
    price $238,750 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

28. 2024-09-21
    price $245,000 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

29. 2024-04-10
    listed $287,500 Active 20-char remark

    Show marketing remark (20 chars)

    Both units occupied.

30. 2013-08-09
    soldstatus $154,900
31. 2013-08-08
    soldstatus $77,450 214-char remark

    Show marketing remark (214 chars)

    This duplex is 28 & 30 Hillcrest Ave. Two 1 bedroom units, Adjoining duplex at 24 Hillcrest is also for sale at $79,950. Seller will consider primary or secondary financing. Priced well below City Assessment.

32. 2013-02-25
    listed $74,950 214-char remark

    Show marketing remark (214 chars)

    This duplex is 28 & 30 Hillcrest Ave. Two 1 bedroom units, Adjoining duplex at 24 Hillcrest is also for sale at $79,950. Seller will consider primary or secondary financing. Priced well below City Assessment.

33. 2012-06-30
    historical
34. 2010-11-22
    listed $74,950

ⓘ 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: $2,062 · $172/mo
• Projected year-2 tax: $2,062 · $172/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

Taxation est. · year 1

• Rental income: $17,552
• − Mortgage interest: −$10,041
• − Property taxes: −$2,062
• − Insurance: −$896
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − Depreciation: −$5,215
• Taxable loss: −$3,471
• Est. tax savings @ 24.0%: +$833
• After-tax cash flow: $460/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): 28,235
• Household income: $52,973
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1360.0

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 60% Black 16% Hispanic / Latino 14% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Romanian 2% Slovak 2% Serbian 1%
• Foreign-born: 11% · Canada, Vietnam, Jamaica
• Languages at home: 84% English-only · Spanish 11% Other Asian/Pacific 2% Vietnamese 2%

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: ▼ -137.94%
• Current HPI: 186.9007
• Rent YoY: ▲ 10.46%
• 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

+139.2% since first listed

19 events — show timeline

• 2026-02-06 Price Changed $179,256 MLSRV
• 2026-01-05 Price Changed $182,914 MLSRV
• 2025-11-13 Price Changed $186,647 MLSRV
• 2025-10-08 Price Changed $190,456 MLSRV
• 2025-09-03 Price Changed $194,343 MLSRV
• 2025-08-08 Price Changed $198,309 MLSRV
• 2025-06-20 Price Changed $202,356 MLSRV
• 2025-05-18 Price Changed $206,486 MLSRV
• 2025-04-11 Price Changed $210,700 MLSRV
• 2025-03-07 Price Changed $215,000 MLSRV
• 2024-12-20 Price Changed $220,000 MLSRV
• 2024-11-06 Price Changed $238,750 MLSRV
• 2024-09-21 Price Changed $245,000 MLSRV
• 2024-04-10 Listed $287,500 MLSRV
• 2013-08-09 Sold (Public Records) $154,900 Public Records
• 2013-08-08 Sold (MLS) $77,450 MLSRV
• 2013-02-25 Listed $74,950 MLSRV
• 2012-06-30 Listing Removed — MLSRV
• 2010-11-22 Listed $74,950 MLSRV

Property tax history

+6.4%/yr

Latest (2025): $2,062 · +7.0% YoY. Source: county tax records.