640 Mountain Ave SE · Roanoke, VA 24013

$174,950

3 bd · 2.0 ba · 1,632 sqft · SingleFamily public records · 37 Days on market

Built 1906 5,227 sqft lot $107/sqft · at area comps Est $168k · at est.

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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 +14.9/30.0
• ARV discount +5.6/15.0
• DSCR +4.6/10.0
• Schools +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home or investment property. Priced to move quickly. When home was purchased in 1989, the interior was completely gutted down to studs; added insulation, updated electrical, plumbing, drywall, interior trim and doors, appliances, cabinetry, vinyl siding, multiple additional built-in storage areas (no lead paint); fenced-in back yard w/ privacy fence; double gates at alley for easy access to backyard. Corner lot; parking available in front, on the side, and back of property next to alley. New retaining wall installed in 1999. Large rooms, high ceilings. New outside HVAC unit 2020. Call today before this one is gone!

Key facts

• Clean rear alley
• Concrete slab
• Double open gate

Tags

• CLEAN REAR ALLEY
• DOUBLE OPEN GATE
• COVERED REAR PORCH
• CONCRETE SLAB
• UPDATED KITCHEN APPLIANCES

Property features AI

Finance

• Financial info: Annual tax amount: $2,164

Exterior

• Utilities: Has heating; Has cooling
• Home design: Residential property; Built in 1906
• Construction: Year built 1906
• Exterior features: 0.12-acre lot

Interior

• Bedrooms: 3 bedrooms total; 1 bedroom on the main level
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Forced air gas heating; Home has cooling
• Interior features: 9 total rooms; Vinyl and wood flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $51 ($614/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 $155k (11.6% below list).
• Recommended offer: $155k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Highland Park Elementary (math 57% / reading 67%, grade B, #480 of 1,108 statewide, top 46%, 398 students, 100% FRL); James Madison Middle (math 41% / reading 68%, grade B-, #194 of 342 statewide, top 60%, 580 students, 96% FRL); Patrick Henry High (math 57% / reading 77%, grade B, #185 of 319 statewide, top 61%, 2,005 students, 95% FRL) — zoned schools average 97% FRL vs 67% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 61% at this address vs 49% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Roanoke City Public School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 77 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $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.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $114k; list at $175k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,695 (11.6% below list)

Questions for the listing agent

1. It's been on market 37 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 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.88% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.25%
• DSCR: 1.06
• GRM: 9.4

CMA / ARV

• ARV (median comp): $167,872
• List price: $174,950
• Delta: 4.22%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
703 Elm Ave SE	0.04mi	3/2.0	1,678 (+3%)	2mo	$169,900	$101	91
624 Albemarle Ave SE	0.18mi	4/2.0 (+1)	1,698 (+4%)	3mo	$65,000	$38	78
1332 Morningside St SE	0.49mi	2/1.0 (-1)	1,614 (-1%)	2mo	$119,900	$74	64
1008 11th St SE	0.36mi	3/1.0	1,533 (-6%)	6mo	$199,000	$130	64
128 10 1/2 St SE	0.56mi	3/1.0	1,657 (+2%)	6mo	$155,000	$94	63
611 Church Ave SE	0.40mi	4/2.0 (+1)	1,472 (-10%)	1mo	$165,000	$112	59
628 Montrose Ave SE	0.27mi	2/1.0 (-1)	1,467 (-10%)	6mo	$130,000	$89	56
816 Morrill Ave SE	0.39mi	3/1.5	1,414 (-13%)	2mo	$45,000	$32	56
910 Ivy St SE	0.55mi	3/2.0	1,418 (-13%)	2mo	$248,000	$175	50
1215 Tazewell Ave SE	0.63mi	3/1.0	1,476 (-10%)	4mo	$82,500	$56	47
1248 Pechin Ave SE	0.72mi	3/1.0	1,780 (+9%)	5mo	$169,950	$95	43
620 Riverland Rd SE	0.64mi	3/1.0	1,856 (+14%)	6mo	$130,000	$70	38

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-25,092
• Equity at exit: $26,086

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-17,655
• Equity at exit: $15,126

Cash invested: $48,986 (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 24013

• Home prices YoY: -18.0%
• Active inventory: 77
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,547 high
• Mortgage (P&I): −$917
• Tax from tax record: −$181 /mo · $2,167/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $51

Break-even live

Break-even rent $1,482

Max offer price $174,950

Occupancy floor 92%

Sensitivity live

Price	-10% $150	-5% $101	+0% $51	+5% $2	+10% $-48
Rent	-10% $-71	-5% $-10	+0% $51	+5% $112	+10% $173
Rate	-1.0pp $139	-0.5pp $96	base $51	+0.5pp $6	+1.0pp $-40

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: $43,738
• Closing costs: $5,248
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
730 Murray Ave SE Roanoke, VA	3.0	1.0	1163	$1,525	$1.31	22d	1	0.13mi
730 Murray Ave SE Roanoke, VA	3.0	1.0	1163	$1,525	$1.31	45d	1	0.13mi
1015 12th St SE Roanoke, VA	3.0	1.0	1072	$923	$0.86	45d	1	0.50mi
909 13th St SE Roanoke, VA	3.0	1.0	1870	$1,199	$0.64	45d	1	0.59mi
770 Riverland Rd SE Roanoke, VA	3.0	2.0	1200	$2,100	$1.75	45d	1	0.77mi
1016 15th St SE #2 Roanoke, VA	3.0	1.5	1084	$995	$0.92	15d	1	0.77mi
1817 Dale Ave SE Roanoke, VA	3.0	1.0	1820	$2,100	$1.15	45d	1	0.86mi
119 18th St SE Roanoke, VA	4.0	2.0	2104	$1,500	$0.71	15d	1	1.01mi
430 Day Ave SW Unit A Roanoke, VA	2.0	1.0	1444	$1,650	$1.14	45d	1	1.04mi
216 Patton Ave NW Unit 2 Roanoke, VA	2.0	1.0	1240	$1,025	$0.83	22d	1	1.05mi
333 Harrison Ave NW Roanoke, VA	3.0	2.0	1186	$1,123	$0.95	22d	1	1.21mi
602 Elm Ave Unit B Roanoke, VA	2.0	1.0	1804	$1,250	$0.69	45d	1	1.22mi
401 Rutherford Ave NW Roanoke, VA	3.0	1.0	1064	$1,450	$1.36	45d	1	1.25mi
1625 Padbury Ave SE Roanoke, VA	4.0	1.0	1210	$1,700	$1.40	15d	1	1.27mi
701 Salem Ave SW Roanoke, VA	2.0	1.0	1250	$1,950	$1.56	45d	1	1.36mi
1922 Catawba St SE Roanoke, VA	4.0	1.0	1629	$2,000	$1.23	22d	1	1.37mi
1515 Dunbar St NW Roanoke, VA	3.0	2.0	1058	$1,623	$1.53	15d	1	1.38mi
813 Gilmer Ave NW Roanoke, VA	2.0	1.0	1050	$1,322	$1.26	22d	1	1.50mi

Listing history 24 events

1. 2026-06-21
   days on market $174,950 Active 37 DOM
2. 2026-06-18
   days on market $174,950 Active 34 DOM
3. 2026-06-17
   days on market $174,950 Active 33 DOM
4. 2026-06-16
   days on market $174,950 Active 32 DOM
5. 2026-06-15
   days on market $174,950 Active 31 DOM
6. 2026-06-14
   days on market $174,950 Active 29 DOM
7. 2026-06-13
   days on market $174,950 Active 28 DOM
8. 2026-06-10
   days on market $174,950 Active 26 DOM
9. 2026-06-09
   days on market $174,950 Active 25 DOM
10. 2026-06-08
    days on market $174,950 Active 24 DOM
11. 2026-06-05
    days on market $174,950 Active 20 DOM
12. 2026-06-03
    days on market $174,950 Active 19 DOM
13. 2026-06-02
    days on market $174,950 Active 18 DOM
14. 2026-06-01
    days on market $174,950 Active 17 DOM
15. 2026-05-31
    days on market $174,950 Active 16 DOM
16. 2026-05-30
    days on market $174,950 Active 15 DOM
17. 2026-05-15
    listed $174,950 Active 681-char remark
18. 2021-12-15
    soldstatus $113,500 638-char remark

    Show marketing remark (651 chars)

    Great starter home or investment property. Priced to move quickly. When home was purchased in 1989, the interior was completely gutted down to studs; added insulation, updated electrical, plumbing, drywall, interior trim and doors, appliances, cabinetry, vinyl siding, multiple additional built-in storage areas (no lead paint); fenced-in back yard w/ privacy fence; double gates at alley for easy access to backyard. Corner lot; parking available in front, on the side, and back of property next to alley. New retaining wall installed in 1999. Large rooms, high ceilings. New outside HVAC unit 2020. Call today before this one is gone!

19. 2021-12-15
    soldstatus $113,500

    Show marketing remark (651 chars)

    Great starter home or investment property. Priced to move quickly. When home was purchased in 1989, the interior was completely gutted down to studs; added insulation, updated electrical, plumbing, drywall, interior trim and doors, appliances, cabinetry, vinyl siding, multiple additional built-in storage areas (no lead paint); fenced-in back yard w/ privacy fence; double gates at alley for easy access to backyard. Corner lot; parking available in front, on the side, and back of property next to alley. New retaining wall installed in 1999. Large rooms, high ceilings. New outside HVAC unit 2020. Call today before this one is gone!

20. 2021-12-15
    soldstatus $113,500

    Show marketing remark (651 chars)

    Great starter home or investment property. Priced to move quickly. When home was purchased in 1989, the interior was completely gutted down to studs; added insulation, updated electrical, plumbing, drywall, interior trim and doors, appliances, cabinetry, vinyl siding, multiple additional built-in storage areas (no lead paint); fenced-in back yard w/ privacy fence; double gates at alley for easy access to backyard. Corner lot; parking available in front, on the side, and back of property next to alley. New retaining wall installed in 1999. Large rooms, high ceilings. New outside HVAC unit 2020. Call today before this one is gone!

21. 2021-08-23
    listed $119,900 638-char remark

    Show marketing remark (638 chars)

    Great starter home or investment property. Priced to move quickly. When home was purchased in 1989, the interior was completely gutted down to studs; added insulation, updated electrical, plumbing, drywall, interior trim and doors, appliances, cabinetry, vinyl siding, multiple additional built-in storage areas (no lead paint); fenced-in back yard w/ privacy fence; double gates at alley for easy access to backyard. Corner lot; parking available in front, on the side, and back of property next to alley. New retaining wall installed in 1999. Large rooms, high ceilings. New outside HVAC unit 2020. Call today before this one is gone!

22. 2021-08-21
    listed $119,900

    Show marketing remark (651 chars)

    Great starter home or investment property. Priced to move quickly. When home was purchased in 1989, the interior was completely gutted down to studs; added insulation, updated electrical, plumbing, drywall, interior trim and doors, appliances, cabinetry, vinyl siding, multiple additional built-in storage areas (no lead paint); fenced-in back yard w/ privacy fence; double gates at alley for easy access to backyard. Corner lot; parking available in front, on the side, and back of property next to alley. New retaining wall installed in 1999. Large rooms, high ceilings. New outside HVAC unit 2020. Call today before this one is gone!

23. 1988-12-30
    soldstatus $19,200
24. 1988-01-08
    soldstatus $12,300

ⓘ 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: $2,167 · $181/mo
• Projected year-2 tax: $2,167 · $181/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 ≥102°F today · 19 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: $18,563
• − Mortgage interest: −$9,800
• − Property taxes: −$2,167
• − Insurance: −$875
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − Depreciation: −$5,089
• Taxable loss: −$2,338
• Est. tax savings @ 24.0%: +$561
• After-tax cash flow: $1,175/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): 8,026
• Household income: $51,290
• Rent vs Own: 56.3% rent · 43.7% own
• Severe rent burden: 345.0

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 57% Black 29% Two or more races 9% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1% Cuban 2%
• Common ancestry: Slovak 2% Greek 1% German 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% Vietnamese 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: ▼ -49.00%
• Current HPI: 223.42
• 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

+1322.4% since first listed

8 events — show timeline

• 2026-05-15 Listed $174,950 MLSRV
• 2021-12-15 Sold (Public Records) $113,500 Public Records
• 2021-12-15 Sold (MLS) $113,500 MLSRV
• 2021-12-15 Sold (MLS) $113,500 LMLS
• 2021-08-23 Listed $119,900 LMLS
• 2021-08-21 Listed $119,900 MLSRV
• 1988-12-30 Sold (Public Records) $19,200 Public Records
• 1988-01-08 Sold (Public Records) $12,300 Public Records

Property tax history

+14.8%/yr

Latest (2025): $2,167 · +20.0% YoY. Source: county tax records.