1315 Essex Ave NW · Roanoke, VA 24017

$100,050

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 455 Days on market

Built 1925 4,290 sqft lot $99/sqft · 32% below area Est $127k · 21% 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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• 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

Property is vacant, text LA for contractor lockbox code.

Key facts

• 4,290 sq ft lot
• Built 1925
• Listed 455 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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); 151 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 33% 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 $692 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 455 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,044 (12.0% below list)

Questions for the listing agent

1. It's been on market 455 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.28% ✓
• Cap rate: 10.54%
• Cash-on-cash: 15.15%
• DSCR: 1.67
• GRM: 6.5

CMA / ARV

• ARV (median comp): $127,011
• List price: $100,050
• Delta: -21.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1227 Loudon Ave NW	0.19mi	3/1.0 (+1)	1,118 (+11%)	2mo	$95,000	$85	66
1210 Mercer Ave NW	0.32mi	2/1.0	944 (-6%)	12mo	$125,000	$132	64
1629 Moorman Ave NW	0.29mi	3/1.0 (+1)	925 (-8%)	8mo	$92,000	$99	61
1414 Gilmer Ave NW	0.16mi	3/1.0 (+1)	1,077 (+7%)	21mo	$188,000	$175	59
1419 Gilmer Ave NW	0.14mi	3/1.0 (+1)	876 (-13%)	22mo	$110,000	$126	48
1228 Thomas Ave NW	0.49mi	3/3.0 (+1)	1,078 (+7%)	9mo	$259,950	$241	45
712 Harrison Ave NW	0.53mi	3/1.0 (+1)	1,134 (+12%)	19mo	$110,000	$97	34
607 Rutherford Ave NW	0.57mi	3/2.0 (+1)	1,107 (+10%)	18mo	$192,500	$174	33
934 Kellogg Ave NW	0.72mi	2/1.0	862 (-14%)	19mo	$140,000	$162	26

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: 5.7%
• Equity multiple: 1.23×
• Total profit: $6,409
• Equity at exit: $14,918

10-year hold

• IRR: 17.5%
• Equity multiple: 2.63×
• Total profit: $45,775
• Equity at exit: $8,650

Cash invested: $28,014 (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: 151
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,284 high
• Mortgage (P&I): −$525
• Tax from tax record: −$94 /mo · $1,133/yr
• Insurance: −$42
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $298

Break-even live

Break-even rent $907

Max offer price $100,050

Occupancy floor 72%

Sensitivity live

Price	-10% $355	-5% $326	+0% $298	+5% $270	+10% $242
Rent	-10% $197	-5% $247	+0% $298	+5% $349	+10% $400
Rate	-1.0pp $349	-0.5pp $324	base $298	+0.5pp $272	+1.0pp $246

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: $25,012
• Closing costs: $3,002
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1116 Fairfax Ave NW Roanoke, VA	2.0	1.0	800	$1,400	$1.75	21d	1	0.23mi
1007 Gilmer Ave NW Roanoke, VA	2.0	2.0	1187	$1,175	$0.99	21d	1	0.34mi
1117 Rugby Blvd NW Unit B Roanoke, VA	2.0	1.0	1048	$778	$0.74	21d	1	0.41mi
813 Gilmer Ave NW Roanoke, VA	2.0	1.0	1050	$1,322	$1.26	21d	1	0.49mi
1920 Melrose Ave NW Roanoke, VA	2.0	1.0	768	$950	$1.24	44d	1	0.50mi
10 12 1/2 St SW Roanoke, VA	3.0	1.5	999	$1,023	$1.02	44d	1	0.50mi
1533 Rugby Blvd NW Roanoke, VA	3.0	1.0	1500	$1,475	$0.98	44d	1	0.54mi
717 Orange Ave NW Roanoke, VA	2.0	1.0	738	$900	$1.22	44d	1	0.56mi
1531 Syracuse Ave NW Roanoke, VA	3.0	1.0	1488	$1,675	$1.13	44d	1	0.60mi
701 Salem Ave SW Roanoke, VA	2.0	1.0	1250	$1,950	$1.56	44d	1	0.76mi
802 Rorer Ave SW Apt A Roanoke, VA	2.0	1.0	820	$895	$1.09	44d	1	0.77mi
401 Rutherford Ave NW Roanoke, VA	3.0	1.0	1064	$1,450	$1.36	44d	1	0.82mi
333 Harrison Ave NW Roanoke, VA	3.0	2.0	1186	$1,123	$0.95	21d	1	0.83mi
1630 Patterson Ave SW Unit B Roanoke, VA	3.0	1.0	1200	$1,395	$1.16	44d	1	0.84mi
1106 Campbell Ave SW Roanoke, VA	2.0	1.0	850	$950	$1.12	14d	1	0.86mi
1825 Patterson Ave SW Unit B Roanoke, VA	2.0	1.0	1000	$850	$0.85	44d	1	0.88mi
605 Calvary St SW Apt A Roanoke, VA	1.0	1.0	838	$2,100	$2.51	21d	1	0.94mi
605 Calvary St SW Apt A Roanoke, VA	1.0	1.0	838	$2,100	$2.51	14d	1	0.94mi
216 Patton Ave NW Unit 2 Roanoke, VA	2.0	1.0	1240	$1,025	$0.83	21d	1	0.97mi
400 Salem Ave SW Unit 2A Roanoke, VA	1.0	1.0	744	$1,400	$1.88	14d	1	0.98mi
505 6th St SW Unit 229 Roanoke, VA	1.0	1.0	800	$1,275	$1.59	45d	1	0.99mi
324 Salem Ave SW Apt 203 Roanoke, VA	1.0	1.5	770	$1,750	$2.27	44d	1	1.05mi
1515 Dunbar St NW Roanoke, VA	3.0	2.0	1058	$1,623	$1.53	14d	1	1.15mi
2608 Florida Ave NW Roanoke, VA	3.0	1.0	1394	$1,600	$1.15	21d	1	1.15mi
113 Norfolk Ave SW Unit 10 Roanoke, VA	1.0	1.0	700	$1,050	$1.50	14d	1	1.16mi
113 Norfolk Ave SW Unit 12 Roanoke, VA	1.0	1.0	700	$1,050	$1.50	21d	1	1.16mi
2916 Courtland Rd NW Roanoke, VA	2.0	1.0	722	$1,123	$1.56	21d	1	1.16mi
430 Day Ave SW Unit A Roanoke, VA	2.0	1.0	1444	$1,650	$1.14	44d	1	1.19mi
1517 Lexington Ave SW Unit 3 Roanoke, VA	2.0	1.0	813	$1,025	$1.26	44d	1	1.21mi
1517 Lexington Ave SW Unit 1 Roanoke, VA	2.0	1.0	813	$1,050	$1.29	44d	1	1.21mi
1331 Dudley St NW Roanoke, VA	2.0	1.0	700	$1,500	$2.14	14d	1	1.22mi
110 Campbell Ave SW Unit 205 Roanoke, VA	1.0	1.0	800	$1,250	$1.56	44d	1	1.22mi
110 Campbell Ave SW Ste 206 Roanoke, VA	1.0	1.0	750	$1,300	$1.73	44d	1	1.22mi
110 Campbell Ave SW Unit 303 Roanoke, VA	1.0	1.0	780	$1,350	$1.73	21d	1	1.22mi
110 Campbell Ave SW Unit 203 Roanoke, VA	1.0	1.0	780	$1,045	$1.34	44d	1	1.22mi
2744 Melrose Ave NW Roanoke, VA	1.0–2.0	1.0–1.5	936	$1,045	$1.12	14d	7	1.24mi
1813 Oxford Ave SW Roanoke, VA	2.0	1.0	800	$1,200	$1.50	44d	1	1.26mi
733 29th St NW Roanoke, VA	2.0–3.0	2.0	1022	$1,449	$1.42	14d	4	1.27mi
1602 Memorial Ave SW Roanoke, VA	1.0	1.0	1250	$1,800	$1.44	44d	1	1.29mi
2731 Cove Rd NW Roanoke, VA	3.0	2.5	1427	$1,523	$1.07	44d	1	1.39mi

Listing history 34 events

1. 2026-06-18
   days on market $100,050 Active 455 DOM
2. 2026-06-17
   days on market $100,050 Active 454 DOM
3. 2026-06-16
   days on market $100,050 Active 453 DOM
4. 2026-06-15
   days on market $100,050 Active 452 DOM
5. 2026-06-14
   days on market $100,050 Active 450 DOM
6. 2026-06-13
   days on market $100,050 Active 449 DOM
7. 2026-06-10
   days on market $100,050 Active 447 DOM
8. 2026-06-09
   days on market $100,050 Active 446 DOM
9. 2026-06-08
   days on market $100,050 Active 445 DOM
10. 2026-06-05
    days on market $100,050 Active 441 DOM
11. 2026-06-03
    days on market $100,050 Active 440 DOM
12. 2026-06-02
    days on market $100,050 Active 439 DOM
13. 2026-06-01
    days on market $100,050 Active 438 DOM
14. 2026-05-31
    days on market $100,050 Active 437 DOM
15. 2026-05-30
    days on market $100,050 Active 436 DOM
16. 2026-02-05
    price $100,050 56-char remark

    Show marketing remark (56 chars)

    Property is vacant, text LA for contractor lockbox code.

17. 2026-01-05
    price $102,092 56-char remark

    Show marketing remark (56 chars)

    Property is vacant, text LA for contractor lockbox code.

18. 2025-11-12
    price $104,175 56-char remark

    Show marketing remark (56 chars)

    Property is vacant, text LA for contractor lockbox code.

19. 2025-10-08
    price $106,301 56-char remark

    Show marketing remark (56 chars)

    Property is vacant, text LA for contractor lockbox code.

20. 2025-09-03
    price $108,470 56-char remark

    Show marketing remark (56 chars)

    Property is vacant, text LA for contractor lockbox code.

21. 2025-08-08
    price $110,684 56-char remark

    Show marketing remark (56 chars)

    Property is vacant, text LA for contractor lockbox code.

22. 2025-06-26
    price $112,943 56-char remark

    Show marketing remark (56 chars)

    Property is vacant, text LA for contractor lockbox code.

23. 2025-05-18
    price $115,248 56-char remark

    Show marketing remark (56 chars)

    Property is vacant, text LA for contractor lockbox code.

24. 2025-04-11
    price $117,600 56-char remark

    Show marketing remark (56 chars)

    Property is vacant, text LA for contractor lockbox code.

25. 2025-03-20
    listed $120,000 Active 56-char remark

    Show marketing remark (56 chars)

    Property is vacant, text LA for contractor lockbox code.

26. 2023-02-03
    soldstatus $385,000
27. 2021-08-26
    soldstatus $387,000
28. 2021-05-26
    soldstatus $864,000
29. 2003-05-01
    soldstatus $20,000 118-char remark

    Show marketing remark (118 chars)

    HOUSE SOLD AS IS AND WHERE IS CALL AGENT FOR ADDENDUMS BEFORE WRITING OFFERS MINIMUM SELLING AGENT COMMISSION IS $1000

30. 2003-03-19
    soldstatus $20,000
31. 2002-11-11
    historical
32. 2002-11-04
    listed $26,900 118-char remark

    Show marketing remark (118 chars)

    HOUSE SOLD AS IS AND WHERE IS CALL AGENT FOR ADDENDUMS BEFORE WRITING OFFERS MINIMUM SELLING AGENT COMMISSION IS $1000

33. 2002-09-30
    listed $29,900
34. 2002-07-12
    soldstatus $41,307

ⓘ 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: $1,133 · $94/mo
• Projected year-2 tax: $1,133 · $94/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 9/10 Extreme FEMA zone X (unshaded) · 99% 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: $15,409
• − Mortgage interest: −$5,604
• − Property taxes: −$1,133
• − Insurance: −$1,167
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − Depreciation: −$2,911
• Taxable income: $2,130
• Est. tax owed @ 24.0%: −$511
• After-tax cash flow: $3,067/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

+142.2% since first listed

19 events — show timeline

• 2026-02-05 Price Changed $100,050 MLSRV
• 2026-01-05 Price Changed $102,092 MLSRV
• 2025-11-12 Price Changed $104,175 MLSRV
• 2025-10-08 Price Changed $106,301 MLSRV
• 2025-09-03 Price Changed $108,470 MLSRV
• 2025-08-08 Price Changed $110,684 MLSRV
• 2025-06-26 Price Changed $112,943 MLSRV
• 2025-05-18 Price Changed $115,248 MLSRV
• 2025-04-11 Price Changed $117,600 MLSRV
• 2025-03-20 Listed $120,000 MLSRV
• 2023-02-03 Sold (Public Records) $385,000 Public Records
• 2021-08-26 Sold (Public Records) $387,000 Public Records
• 2021-05-26 Sold (Public Records) $864,000 Public Records
• 2003-05-01 Sold (MLS) $20,000 MLSRV
• 2003-03-19 Sold (Public Records) $20,000 Public Records
• 2002-11-11 Listing Removed — MLSRV
• 2002-11-04 Listed $26,900 MLSRV
• 2002-09-30 Listed $29,900 MLSRV
• 2002-07-12 Sold (Public Records) $41,307 Public Records

Property tax history

+11.4%/yr

Latest (2025): $1,133 · +13.0% YoY. Source: county tax records.