1315/1319 Liberty Rd NE · Roanoke, VA 24012

$169,850

3 bd · 1.0 ba · 1,554 sqft · Land · 134 Days on market

Built 1935 0.64 ac lot ↓ 13% since listing

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

TWO LOTS!! Welcome to this adorable two-story home nestled at the end of a quiet street, offering the perfect blend of charm, privacy, and potential. Situated on a spacious piece of land and sold with an additional lot, this property provides endless opportunities--expand, garden, build, or simply enjoy the extra space for yourself. Inside, you'll find three comfortable bedrooms including a convenient entry-level bedroom, ideal for main-level living or hosting guests. The home features a bright, open kitchen with an adjoining dining area, creating a warm and functional space for meals and gatherings. Outside, the possibilities continue with a large garage perfect for storage, a workshop, or

Key facts

• Quiet street
• Large garage
• Additional lot

Tags

• TWO STORY HOME
• QUIET STREET
• ADDITIONAL LOT
• BRIGHT OPEN KITCHEN
• ADJOINING DINING AREA
• LARGE GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath land listed at $170k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Zoned schools: Monterey Elementary (math 47% / reading 54%, grade D+, #737 of 1,108 statewide, top 67%, 490 students, 100% FRL); William Fleming High (math 66% / reading 68%, grade B, #185 of 319 statewide, top 61%, 1,911 students, 96% FRL) — zoned schools average 98% FRL vs 67% district-wide (31 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 40% 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 579% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,468 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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: 1.04% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.12%
• DSCR: 1.45
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 3.8%
• Equity multiple: 1.15×
• Total profit: $7,294
• Equity at exit: $25,325

10-year hold

• IRR: 17.2%
• Equity multiple: 2.71×
• Total profit: $81,462
• Equity at exit: $14,686

Cash invested: $47,558 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,769 high
• Mortgage (P&I): −$891
• Tax from tax record: −$35 /mo · $416/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $401

Break-even live

Break-even rent $1,261

Max offer price $169,850

Occupancy floor 72%

Sensitivity live

Price	-10% $497	-5% $449	+0% $401	+5% $353	+10% $305
Rent	-10% $261	-5% $331	+0% $401	+5% $471	+10% $541
Rate	-1.0pp $487	-0.5pp $444	base $401	+0.5pp $357	+1.0pp $312

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: $42,462
• Closing costs: $5,096
• Reserves months: —
• Total cash needed: —

Rent comps 7 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	14d	1	0.78mi
3323 Collingwood St NE Roanoke, VA	3.0	2.0	1200	$2,150	$1.79	44d	1	0.84mi
3843 Plantation Rd NE Roanoke, VA	2.0	1.0	1870	$1,500	$0.80	44d	1	0.87mi
3816 Plantation Rd NE Roanoke, VA	2.0	2.0	1267	$1,700	$1.34	44d	1	0.87mi
4532 Tacoma Ave NE Roanoke, VA	3.0	1.0	1092	$1,550	$1.42	14d	1	1.16mi
3006 Hickory Woods Dr NE Roanoke, VA	1.0–3.0	1.0–2.0	922	$1,890	$2.05	14d	20	1.40mi
1515 Dunbar St NW Roanoke, VA	3.0	2.0	1058	$1,623	$1.53	14d	1	1.47mi

Listing history 20 events

1. 2026-04-01
   status Pending
2. 2026-04-01
   historical
3. 2026-03-26
   price $169,850
4. 2026-03-12
   price $169,875
5. 2026-03-06
   price $169,900
6. 2026-03-05
   price $179,875
7. 2026-02-23
   price $179,900
8. 2026-02-19
   price $185,425
9. 2026-02-12
   price $185,450
10. 2026-02-05
    price $185,475
11. 2026-01-26
    price $20,000
12. 2026-01-26
    price $185,500
13. 2026-01-22
    price $192,375
14. 2026-01-13
    price $192,400
15. 2026-01-08
    price $194,900
16. 2025-12-18
    price $194,925
17. 2025-12-11
    price $194,950
18. 2025-12-08
    listed $25,000 Active
19. 2025-12-04
    price $194,975
20. 2025-11-18
    listed $195,000 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: $416 · $35/mo
• Projected year-2 tax: $1,393 · $116/mo
• Expected delta: +$977/yr (+$81/mo · 235.2%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 17 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: $21,225
• − Mortgage interest: −$9,514
• − Property taxes: −$416
• − Insurance: −$849
• − Repairs & maintenance: −$1,698
• − Management: −$1,698
• − Depreciation: −$4,941
• Taxable income: $2,109
• Est. tax owed @ 24.0%: −$506
• After-tax cash flow: $4,308/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

-12.9% since first listed

20 events — show timeline

• 2026-04-01 Pending — MLSRV
• 2026-04-01 Listing Removed — MLSRV
• 2026-03-26 Price Changed $169,850 MLSRV
• 2026-03-12 Price Changed $169,875 MLSRV
• 2026-03-06 Price Changed $169,900 MLSRV
• 2026-03-05 Price Changed $179,875 MLSRV
• 2026-02-23 Price Changed $179,900 MLSRV
• 2026-02-19 Price Changed $185,425 MLSRV
• 2026-02-12 Price Changed $185,450 MLSRV
• 2026-02-05 Price Changed $185,475 MLSRV
• 2026-01-26 Price Changed $20,000 MLSRV
• 2026-01-26 Price Changed $185,500 MLSRV
• 2026-01-22 Price Changed $192,375 MLSRV
• 2026-01-13 Price Changed $192,400 MLSRV
• 2026-01-08 Price Changed $194,900 MLSRV
• 2025-12-18 Price Changed $194,925 MLSRV
• 2025-12-11 Price Changed $194,950 MLSRV
• 2025-12-08 Listed $25,000 MLSRV
• 2025-12-04 Price Changed $194,975 MLSRV
• 2025-11-18 Listed $195,000 MLSRV

Property tax history

+17.0%/yr

Latest (2025): $416 · +50.7% YoY. Source: county tax records.