717 Mississippi Ave NE · Roanoke, VA 24012

$135,000

2 bd · 1.0 ba · 744 sqft · SingleFamily public records · 94 Days on market

Built 1925 10,018 sqft lot Est $169k · 20% under

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Why this score? — see what drove the C+ 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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• Rent growth +5.0/5.0
• 1% rule +4.6/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HOUSE HAS BEEN PAINTED/FLOORS VARNISHED/CLEAN AS A PIN/SELLER WILL INSTALL ELECTRIC BASEBOARD HEAT/NICE STARTER HOME.

Key facts

• Large metal workshop
• Enclosed rear porch
• 0.23 acre lot

Tags

• ENCLOSED REAR PORCH
• LARGE METAL WORKSHOP

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (3.8% below list).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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.
• Zoned schools: Lincoln Terrace Elementary (math 22% / reading 32%, grade F, #1,029 of 1,108 statewide, top 94%, 297 students, 103% FRL); Breckinridge Middle (math 23% / reading 52%, grade F, #315 of 342 statewide, top 93%, 624 students, 99% FRL); William Fleming High (math 66% / reading 68%, grade B, #185 of 319 statewide, top 61%, 1,911 students, 96% FRL) — zoned schools average 99% FRL vs 67% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.5%/yr); 194 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $933 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 + 8.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $44k; list at $135k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.96% ✗
• Cap rate: 7.85%
• Cash-on-cash: 5.55%
• DSCR: 1.25
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $168,888
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 Fieldale Rd NE	0.25mi	2/1.0	849 (+14%)	2mo	$145,000	$171	63
3126 Plantation Rd NE	0.38mi	2/1.0	826 (+11%)	1mo	$164,000	$199	63
128 Courtney Ave NE	0.49mi	2/1.0	700 (-6%)	7mo	$158,950	$227	62
2002 Wayne St NE	0.68mi	2/1.0	720 (-3%)	2mo	$189,000	$263	61
3250 Ellsworth St NE	0.61mi	2/1.0	732 (-2%)	10mo	$212,995	$291	61
66 Forest Hill Ave NE	0.70mi	2/1.0	768 (+3%)	10mo	$154,000	$201	54
136 Courtney Ave NE	0.47mi	2/1.0	700 (-6%)	20mo	$129,950	$186	52
3227 Oliver Rd NE	0.50mi	2/1.0	855 (+15%)	5mo	$197,450	$231	47
925 Monticello Ave NE	0.72mi	3/1.0 (+1)	816 (+10%)	11mo	$220,000	$270	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-3,906
• Equity at exit: $20,129

10-year hold

• IRR: 11.6%
• Equity multiple: 2.11×
• Total profit: $42,048
• Equity at exit: $11,672

Cash invested: $37,800 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,298 high
• Mortgage (P&I): −$708
• Tax from tax record: −$87 /mo · $1,040/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $175

Break-even live

Break-even rent $1,077

Max offer price $135,000

Occupancy floor 82%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3111 Ellsworth St NE Roanoke, VA	1.0–2.0	1.0	662	$1,199	$1.81	13d	2	0.44mi
120 Avendale Ave NE Unit 3 Roanoke, VA	1.0	1.0	700	$850	$1.21	21d	1	0.56mi
916 Kyle Ave NE Roanoke, VA	2.0	1.0	642	$2,250	$3.50	13d	1	0.67mi
1630 Wayne St NE Roanoke, VA	1.0	1.0	750	$950	$1.27	13d	1	0.90mi
2916 Courtland Rd NW Roanoke, VA	2.0	1.0	722	$1,123	$1.56	21d	1	0.96mi
1415 15th St NE Roanoke, VA	1.0	1.0	566	$995	$1.76	13d	1	1.04mi
2807 Oakland Blvd NW Apt 4 Roanoke, VA	1.0	1.0	600	$750	$1.25	43d	1	1.04mi
1423 Varnell Ave NE Roanoke, VA	2.0	1.0	720	$1,650	$2.29	13d	1	1.04mi
601 Orange Ave NE Roanoke, VA	1.0	1.0	518	$1,234	$2.38	13d	9	1.27mi

Listing history 12 events

1. 2026-04-03
   status Pending
2. 2025-12-30
   listed $135,000 Active
3. 2019-11-21
   historical
4. 2019-11-01
   listed $49,000
5. 2001-10-29
   soldstatus $43,950 117-char remark

   Show marketing remark (117 chars)

   HOUSE HAS BEEN PAINTED/FLOORS VARNISHED/CLEAN AS A PIN/SELLER WILL INSTALL ELECTRIC BASEBOARD HEAT/NICE STARTER HOME.

6. 2001-10-24
   soldstatus $43,950
7. 2001-10-24
   soldstatus $43,950
8. 2001-07-25
   listed $43,950 117-char remark

   Show marketing remark (117 chars)

   HOUSE HAS BEEN PAINTED/FLOORS VARNISHED/CLEAN AS A PIN/SELLER WILL INSTALL ELECTRIC BASEBOARD HEAT/NICE STARTER HOME.

9. 2001-05-05
   historical
10. 2000-07-06
    listed $44,950
11. 1987-05-04
    soldstatus $25,000
12. 1983-05-31
    soldstatus $13,000

ⓘ 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: $1,040 · $87/mo
• Projected year-2 tax: $1,107 · $92/mo
• Expected delta: +$67/yr (+$6/mo · 6.4%)

ⓘ 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 · 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: $15,581
• − Mortgage interest: −$7,562
• − Property taxes: −$1,040
• − Insurance: −$675
• − Repairs & maintenance: −$1,247
• − Management: −$1,247
• − Depreciation: −$3,927
• Taxable loss: −$116
• Est. tax savings @ 24.0%: +$28
• After-tax cash flow: $2,127/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

+938.5% since first listed

12 events — show timeline

• 2026-04-03 Pending — MLSRV
• 2025-12-30 Listed $135,000 MLSRV
• 2019-11-21 Listing Removed — MLSRV
• 2019-11-01 Listed $49,000 MLSRV
• 2001-10-29 Sold (MLS) $43,950 MLSRV
• 2001-10-24 Sold (Public Records) $43,950 Public Records
• 2001-10-24 Sold (Public Records) $43,950 Public Records
• 2001-07-25 Listed $43,950 MLSRV
• 2001-05-05 Listing Removed — MLSRV
• 2000-07-06 Listed $44,950 MLSRV
• 1987-05-04 Sold (Public Records) $25,000 Public Records
• 1983-05-31 Sold (Public Records) $13,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,040 · +26.8% YoY. Source: county tax records.