2023 Moorman Ave NW · Roanoke, VA 24017

$120,000

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 90 Days on market

Built 1925 6,534 sqft lot $95/sqft · 16% below area Est $143k · 16% under

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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 +27.2/30.0
• ARV discount +14.6/15.0
• DSCR +9.5/10.0
• 1% rule +6.9/10.0
• Schools +4.1/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity with residents in place. 4 Bed 1 Bath in North West Roanoke. Month to month lease agreement in place with resident.

Key facts

• 6,534 sq ft lot
• Parking
• Built 1925

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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); 152 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 36% 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 $830 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 $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.19% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.26%
• DSCR: 1.55
• GRM: 7.0

CMA / ARV

• ARV (median comp): $142,507
• List price: $120,000
• Delta: -15.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1724 Orange Ave NW	0.29mi	3/1.0	1,286 (+2%)	3mo	$55,000	$43	80
1528 Melrose Ave NW	0.42mi	3/1.0	1,224 (-3%)	4mo	$51,000	$42	72
1012 Crescent St NW	0.65mi	3/1.0	1,276 (+1%)	1mo	$78,000	$61	66
1326 Gilmer Ave NW	0.59mi	3/2.0	1,278 (+1%)	3mo	$160,000	$125	63
2315 Salem Tpke NW	0.24mi	2/1.0 (-1)	1,363 (+8%)	9mo	$132,000	$97	62
1124 13th St NW	0.73mi	3/2.0	1,240 (-2%)	1mo	$206,000	$166	59
1623 Carroll Ave NW	0.54mi	3/2.0	1,260 (0%)	17mo	$272,650	$216	57
716 12th St NW	0.73mi	3/2.0	1,264 (+0%)	8mo	$222,400	$176	54
1625 Moorman Ave NW	0.34mi	2/1.0 (-1)	1,422 (+13%)	7mo	$90,000	$63	52
105 19th St SW	0.50mi	3/2.0	1,176 (-7%)	15mo	$160,000	$136	49
1227 Loudon Ave NW	0.67mi	3/1.0	1,118 (-11%)	2mo	$95,000	$85	48
1107 14th St NW	0.66mi	2/1.0 (-1)	1,372 (+9%)	9mo	$137,000	$100	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: 4.8%
• Equity multiple: 1.19×
• Total profit: $6,414
• Equity at exit: $17,892

10-year hold

• IRR: 16.5%
• Equity multiple: 2.52×
• Total profit: $51,084
• Equity at exit: $10,375

Cash invested: $33,600 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,430 high
• Mortgage (P&I): −$629
• Tax from tax record: −$107 /mo · $1,285/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $343

Break-even live

Break-even rent $995

Max offer price $120,000

Occupancy floor 71%

Sensitivity live

Price	-10% $411	-5% $377	+0% $343	+5% $309	+10% $275
Rent	-10% $230	-5% $287	+0% $343	+5% $400	+10% $456
Rate	-1.0pp $404	-0.5pp $374	base $343	+0.5pp $312	+1.0pp $280

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2744 Melrose Ave NW Roanoke, VA	1.0–2.0	1.0–1.5	936	$1,045	$1.12	14d	7	0.64mi
1825 Patterson Ave SW Unit B Roanoke, VA	2.0	1.0	1000	$850	$0.85	45d	1	0.66mi
733 29th St NW Roanoke, VA	2.0–3.0	2.0	1022	$1,625	$1.59	14d	4	0.66mi
1533 Rugby Blvd NW Roanoke, VA	3.0	1.0	1500	$1,475	$0.98	45d	1	0.72mi
1630 Patterson Ave SW Unit B Roanoke, VA	3.0	1.0	1200	$1,395	$1.16	45d	1	0.74mi
10 12 1/2 St SW Roanoke, VA	3.0	1.5	999	$1,023	$1.02	45d	1	0.77mi
1531 Syracuse Ave NW Roanoke, VA	3.0	1.0	1488	$1,675	$1.13	45d	1	0.79mi
1609 Chapman Ave SW Unit B Roanoke, VA	4.0	1.0	1400	$1,545	$1.10	22d	1	0.79mi
2608 Florida Ave NW Roanoke, VA	3.0	1.0	1394	$1,600	$1.15	22d	1	0.80mi
821 12th St NW Roanoke, VA	3.0	2.0	1508	$1,625	$1.08	45d	1	0.80mi
1007 Gilmer Ave NW Roanoke, VA	2.0	2.0	1187	$1,175	$0.99	22d	1	0.90mi
1117 Rugby Blvd NW Unit B Roanoke, VA	2.0	1.0	1048	$778	$0.74	22d	1	0.90mi
1115 Grayson Ave NW Roanoke, VA	4.0	2.0	1094	$2,300	$2.10	45d	1	0.97mi
813 Gilmer Ave NW Roanoke, VA	2.0	1.0	1050	$1,322	$1.26	22d	1	1.06mi
2731 Cove Rd NW Roanoke, VA	3.0	2.5	1427	$1,523	$1.07	45d	1	1.09mi
701 Salem Ave SW Roanoke, VA	2.0	1.0	1250	$1,950	$1.56	45d	1	1.20mi
1701 Westover Ave SW Roanoke, VA	1.0–2.0	1.0	876	$1,045	$1.19	45d	4	1.32mi
2216 Memorial Ave SW Unit 2218 Roanoke, VA	2.0	1.0	1000	$1,200	$1.20	45d	1	1.38mi
2307 Memorial Ave SW Roanoke, VA	2.0	1.5	1100	$1,035	$0.94	14d	1	1.38mi
2325 Memorial Ave SW Unit 6 Roanoke, VA	2.0	1.0	1050	$1,125	$1.07	22d	1	1.40mi
2325 Memorial Avenue SW Roanoke, VA	1.0–2.0	1.0	925	$1,225	$1.32	14d	3	1.40mi
401 Rutherford Ave NW Roanoke, VA	3.0	1.0	1064	$1,450	$1.36	45d	1	1.42mi
333 Harrison Ave NW Roanoke, VA	3.0	2.0	1186	$1,123	$0.95	22d	1	1.43mi

Listing history 26 events

1. 2026-06-15
   days on market $120,000 Active 90 DOM
2. 2026-06-14
   days on market $120,000 Active 88 DOM
3. 2026-06-13
   days on market $120,000 Active 87 DOM
4. 2026-06-10
   days on market $120,000 Active 85 DOM
5. 2026-06-09
   days on market $120,000 Active 84 DOM
6. 2026-06-08
   days on market $120,000 Active 83 DOM
7. 2026-06-05
   days on market $120,000 Active 79 DOM
8. 2026-06-03
   days on market $120,000 Active 78 DOM
9. 2026-06-02
   days on market $120,000 Active 77 DOM
10. 2026-06-01
    days on market $120,000 Active 76 DOM
11. 2026-05-31
    days on market $120,000 Active 75 DOM
12. 2026-05-30
    days on market $120,000 Active 74 DOM
13. 2026-04-27
    price $120,000 144-char remark

    Show marketing remark (144 chars)

    Great investment opportunity with residents in place. 4 Bed 1 Bath in North West Roanoke. Month to month lease agreement in place with resident.

14. 2026-04-07
    price $125,000 144-char remark

    Show marketing remark (144 chars)

    Great investment opportunity with residents in place. 4 Bed 1 Bath in North West Roanoke. Month to month lease agreement in place with resident.

15. 2026-03-17
    listed $135,000 Active 144-char remark

    Show marketing remark (144 chars)

    Great investment opportunity with residents in place. 4 Bed 1 Bath in North West Roanoke. Month to month lease agreement in place with resident.

16. 2024-01-13
    historical $1,200
17. 2023-12-07
    price $1,200
18. 2023-11-02
    historical
19. 2023-10-31
    price $1,350
20. 2023-10-27
    listed
21. 2023-10-05
    listed $155,000 Active
22. 2022-11-01
    soldstatus $85,000 Closed
23. 2022-07-19
    status Pending
24. 2022-07-14
    status Active
25. 2022-05-25
    status Pending
26. 2022-03-08
    listed $95,000 Active

ⓘ 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: $1,285 · $107/mo
• Projected year-2 tax: $1,285 · $107/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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,158
• − Mortgage interest: −$6,722
• − Property taxes: −$1,285
• − Insurance: −$600
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$3,491
• Taxable income: $2,315
• Est. tax owed @ 24.0%: −$556
• After-tax cash flow: $3,563/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

+26.3% since first listed

14 events — show timeline

• 2026-04-27 Price Changed $120,000 MLSRV
• 2026-04-07 Price Changed $125,000 MLSRV
• 2026-03-17 Listed $135,000 MLSRV
• 2024-01-13 Rental Removed $1,200 APPFOLIO
• 2023-12-07 Price Changed $1,200 APPFOLIO
• 2023-11-02 Listing Removed — MLSRV
• 2023-10-31 Price Changed $1,350 APPFOLIO
• 2023-10-27 Listed for Rent — APPFOLIO
• 2023-10-05 Listed $155,000 MLSRV
• 2022-11-01 Sold (MLS) $85,000 MLSRV
• 2022-07-19 Pending — MLSRV
• 2022-07-14 Relisted — MLSRV
• 2022-05-25 Pending — MLSRV
• 2022-03-08 Listed $95,000 MLSRV

Property tax history

+17.9%/yr

Latest (2025): $1,285 · +22.5% YoY. Source: county tax records.