1618 Read Mountain Rd · Roanoke, VA 24019

$140,000

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 94 Days on market

Built 1944 0.68 ac lot Est $127k · 10% over

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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 +17.9/30.0
• Schools +6.4/10.0
• DSCR +5.6/10.0
• 1% rule +4.0/10.0
• Livability +3.7/5.0
• ARV discount +2.8/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LARGE LOT, CENTRAL AIR, PLUMBING, FURNACE, HWH, ELECTRIC, ROOF UNDER 10 YRS OLD. ENCLOSED BACK PORCH UNDER 6 YRS OLD. GREAT VIEWS PINE FLOORS UNDER VINYL

Key facts

• 0.68 acre lot
• Built 1944
• Listed 94 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/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 $127k (9.5% below list).
• Recommended offer: $127k (9.5% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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 County Public School District (suburban): math 71% / reading 78% proficiency, ranked #9 of 131 in VA (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Mountain View Elementary (math 52% / reading 67%, grade B-, #536 of 1,108 statewide, top 51%, 346 students, 68% FRL); Northside Middle (math 63% / reading 68%, grade A-, #116 of 342 statewide, top 35%, 627 students, 53% FRL); Northside High (math 80% / reading 87%, grade A, #30 of 319 statewide, top 10%, 950 students, 47% FRL) — zoned schools average 56% FRL vs 22% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 175 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 360 units permitted in Roanoke County in 2024 (228 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Roanoke County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($127k) 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.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,680 (9.5% 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 10% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — 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. 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: 0.90% ✗
• Cap rate: 7.30%
• Cash-on-cash: 3.59%
• DSCR: 1.16
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $126,720
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1618 Read Mountain Rd	0.00mi	2/1.0	900 (+2%)	1mo	$130,000	$144	95

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.61×
• Total profit: $-15,254
• Equity at exit: $20,874

10-year hold

• IRR: -1.4%
• Equity multiple: 0.90×
• Total profit: $-3,804
• Equity at exit: $12,105

Cash invested: $39,200 (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 24019

• Active inventory: 175
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,267 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$91 /mo · $1,093/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $117

Break-even live

Break-even rent $1,118

Max offer price $140,000

Occupancy floor 86%

Sensitivity live

Price	-10% $196	-5% $157	+0% $117	+5% $78	+10% $38
Rent	-10% $17	-5% $67	+0% $117	+5% $167	+10% $217
Rate	-1.0pp $188	-0.5pp $153	base $117	+0.5pp $81	+1.0pp $44

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4532 Tacoma Ave NE Roanoke, VA	3.0	1.0	1092	$1,550	$1.42	14d	1	0.84mi
709 Drew Ave NE Apt 2 Roanoke, VA	2.0	1.0	825	$1,050	$1.27	44d	1	1.14mi

Listing history 10 events

1. 2026-04-24
   status Pending
2. 2026-04-16
   status Active
3. 2026-04-10
   status Pending
4. 2026-01-14
   listed $140,000 Active
5. 2021-01-08
   soldstatus $1,327,890
6. 2001-08-29
   soldstatus $63,000 153-char remark

   Show marketing remark (153 chars)

   LARGE LOT, CENTRAL AIR, PLUMBING, FURNACE, HWH, ELECTRIC, ROOF UNDER 10 YRS OLD. ENCLOSED BACK PORCH UNDER 6 YRS OLD. GREAT VIEWS PINE FLOORS UNDER VINYL

7. 2001-08-01
   soldstatus $63,000
8. 2001-06-20
   historical
9. 2000-12-21
   listed $66,950
10. 2000-06-12
    listed $66,950 153-char remark

    Show marketing remark (153 chars)

    LARGE LOT, CENTRAL AIR, PLUMBING, FURNACE, HWH, ELECTRIC, ROOF UNDER 10 YRS OLD. ENCLOSED BACK PORCH UNDER 6 YRS OLD. GREAT VIEWS PINE FLOORS UNDER VINYL

ⓘ 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: $1,093 · $91/mo
• Projected year-2 tax: $1,148 · $96/mo
• Expected delta: +$55/yr (+$5/mo · 5.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 5 d/yr ≥100°F today · 13 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: $15,202
• − Mortgage interest: −$7,842
• − Property taxes: −$1,093
• − Insurance: −$700
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − Depreciation: −$4,073
• Taxable loss: −$938
• Est. tax savings @ 24.0%: +$225
• After-tax cash flow: $1,632/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 County Public School District
• NCES district ID: 5103330
• Math proficiency: 71% ▼ -19.00%
• Reading proficiency: 78% ▼ -6.00%
• Median HH income: $60,526
• Composite: 64.08/100
• National rank: #578
• State rank: #9 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

• County: Roanoke County · 67,305 people
• City population: 168,930
• Metro: Roanoke, VA
• Population (ZIP): 28,585
• Household income: $77,870
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 512.0

Population outlook (Roanoke County) Hauer SSP2

• Today (2025): 98,162 people
• By 2030: 99,793 · +1.7%
• By 2040: 101,965 · +3.9%
• By 2050: 103,328 · +5.3%
• By 2075: 108,641 · +10.7%
• By 2100: 104,845 · +6.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 13% Two or more races 4% Hispanic / Latino 4% Asian 3%
• Common ancestry: Serbian 2% Slovak 2% Romanian 1%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Roanoke

• 2024 margin: Strong R (+22.5) · D 38.2% · R 60.7% · Other 1.1%
• 2008→2024 swing: -1.4pp toward R · 2008: -21.1pp · 2024: -22.5pp
• All cycles: 2024: R+22.5 2020: R+21.8 2016: R+28.1 2012: R+25.6 2008: R+21.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -236.33%
• Current HPI: 179.1326
• Rent YoY: —
• 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

+109.1% since first listed

10 events — show timeline

• 2026-04-24 Pending — MLSRV
• 2026-04-16 Relisted — MLSRV
• 2026-04-10 Pending — MLSRV
• 2026-01-14 Listed $140,000 MLSRV
• 2021-01-08 Sold (Public Records) $1,327,890 Public Records
• 2001-08-29 Sold (MLS) $63,000 MLSRV
• 2001-08-01 Sold (Public Records) $63,000 Public Records
• 2001-06-20 Listing Removed — MLSRV
• 2000-12-21 Listed $66,950 MLSRV
• 2000-06-12 Listed $66,950 MLSRV

Property tax history

+2.3%/yr

Latest (2025): $1,093 · -0.2% YoY. Source: county tax records.