1611 8th St SE · Roanoke, VA 24013

$199,900

4 bd · 2.0 ba · 1,401 sqft · SingleFamily public records · 24 Days on market

Built 1923 4,791 sqft lot Est $182k · 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 +15.0/30.0
• DSCR +4.6/10.0
• Schools +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• ARV discount +3.1/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nicely renovated 4 bedroom 2 bath home. Master bedroom ensuite on the entry level and (3) additional bedrooms and full bath located on the upper level. Hardwood floors throughout the home, replacement windows, updated gas furnace and central air, hot water heater, storage shed and insulated attic. Close to Roanoke Memorial Hospital and Downtown. Used as an Airbnb for the past 4 years and can provide financial info upon request.

Key facts

• Off street parking
• 4,791 sq ft lot
• Built 1923

Tags

• VIEWS OF MILL MOUNTAIN
• FLAT FENCED BACK YARD
• OFF STREET PARKING

Property features AI

Finance

• HOA & community: Public transportation access nearby; Nearby restaurants

Exterior

• Home design: Residential property; Built in 1923
• Construction: Year built 1923
• Exterior features: Front porch; Rear porch; Approximately 0.11-acre lot

Interior

• Bedrooms: 4 bedrooms total; 1 bedroom on the main level
• Flooring: Tile flooring; Vinyl flooring; Wood flooring
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Forced air gas heating; Central cooling
• Interior features: Metal doors; Insulated windows; 7 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $62 ($747/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 $175k (12.3% below list).
• Recommended offer: $175k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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.
• Zoned schools: Morningside Elementary (math 37% / reading 52%, grade F, #827 of 1,108 statewide, top 77%, 240 students, 105% FRL); John P. Fishwick Middle (math 33% / reading 60%, grade D+, #264 of 342 statewide, top 77%, 501 students, 98% FRL); Patrick Henry High (math 57% / reading 77%, grade B, #185 of 319 statewide, top 61%, 2,005 students, 95% FRL) — zoned schools average 99% FRL vs 67% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 77 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 41% of the median local income ($51k/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 $6k 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 24 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 12 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.
• Current owner paid $135k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,217 (12.3% below list)

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $182,130
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
816 Morrill Ave SE	0.20mi	3/1.5 (-1)	1,414 (+1%)	2mo	$45,000	$32	80
1626 8th St SE	0.04mi	4/1.5	1,476 (+5%)	9mo	$79,000	$54	80
910 Ivy St SE	0.34mi	3/2.0 (-1)	1,418 (+1%)	2mo	$248,000	$175	75
1222 Morningside St SE	0.44mi	3/2.0 (-1)	1,380 (-2%)	2mo	$256,950	$186	71
1111 Pechin Ave SE	0.20mi	3/2.0 (-1)	1,300 (-7%)	7mo	$218,000	$168	68
645 Albemarle Ave SE	0.45mi	3/1.5 (-1)	1,410 (+1%)	10mo	$125,000	$89	63
1015 Pechin Ave SE	0.18mi	3/2.0 (-1)	1,549 (+11%)	8mo	$113,000	$73	62
1018 Morehead Ave SE	0.26mi	3/2.0 (-1)	1,232 (-12%)	1mo	$260,000	$211	62
1160 Montrose Ave SE	0.65mi	3/1.0 (-1)	1,332 (-5%)	8mo	$130,000	$98	46
728 Jamison Ave SE	0.73mi	3/1.5 (-1)	1,348 (-4%)	10mo	$190,000	$141	45
1008 11th St SE	0.59mi	3/1.0 (-1)	1,533 (+9%)	6mo	$199,000	$130	43
728 Bullitt Ave SE	0.67mi	3/2.0 (-1)	1,564 (+12%)	8mo	$95,000	$61	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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-28,440
• Equity at exit: $29,806

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-19,704
• Equity at exit: $17,284

Cash invested: $55,972 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,752 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$190 /mo · $2,285/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $62

Break-even live

Break-even rent $1,673

Max offer price $199,900

Occupancy floor 91%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
770 Riverland Rd SE Roanoke, VA	3.0	2.0	1200	$2,100	$1.75	44d	1	0.36mi
730 Murray Ave SE Roanoke, VA	3.0	1.0	1163	$1,525	$1.31	44d	1	0.44mi
730 Murray Ave SE Roanoke, VA	3.0	1.0	1163	$1,525	$1.31	21d	1	0.44mi
1015 12th St SE Roanoke, VA	3.0	1.0	1072	$923	$0.86	44d	1	0.70mi
1625 Padbury Ave SE Roanoke, VA	4.0	1.0	1210	$1,700	$1.40	13d	1	0.82mi
909 13th St SE Roanoke, VA	3.0	1.0	1870	$1,199	$0.64	44d	1	0.82mi
1016 15th St SE #2 Roanoke, VA	3.0	1.5	1084	$995	$0.92	13d	1	0.87mi
1922 Catawba St SE Roanoke, VA	4.0	1.0	1629	$2,000	$1.23	21d	1	0.88mi
1817 Dale Ave SE Roanoke, VA	3.0	1.0	1820	$2,100	$1.15	44d	1	1.03mi

Listing history 41 events

1. 2026-06-18
   days on market $199,900 Active 24 DOM
2. 2026-06-17
   days on market $199,900 Active 23 DOM
3. 2026-06-16
   days on market $199,900 Active 22 DOM
4. 2026-06-15
   days on market $199,900 Active 21 DOM
5. 2026-06-14
   days on market $199,900 Active 19 DOM
6. 2026-06-13
   days on market $199,900 Active 18 DOM
7. 2026-06-10
   days on market $199,900 Active 16 DOM
8. 2026-06-09
   days on market $199,900 Active 15 DOM
9. 2026-06-08
   days on market $199,900 Active 14 DOM
10. 2026-06-05
    days on market $199,900 Active 10 DOM
11. 2026-06-03
    days on market $199,900 Active 9 DOM
12. 2026-06-02
    pricedays on market $199,900 Active 8 DOM
13. 2026-06-01
    days on market $210,000 Active 7 DOM
14. 2026-05-31
    days on market $210,000 Active 6 DOM
15. 2026-05-30
    days on market $210,000 Active 5 DOM
16. 2026-05-25
    listed $210,000 Active
17. 2021-06-21
    soldstatus $135,000
18. 2021-06-17
    soldstatus $135,000 431-char remark

    Show marketing remark (431 chars)

    Nicely renovated 4 bedroom 2 bath home. Master bedroom ensuite on the entry level and (3) additional bedrooms and full bath located on the upper level. Hardwood floors throughout the home, replacement windows, updated gas furnace and central air, hot water heater, storage shed and insulated attic. Close to Roanoke Memorial Hospital and Downtown. Used as an Airbnb for the past 4 years and can provide financial info upon request.

19. 2021-04-23
    listed $139,950 431-char remark

    Show marketing remark (431 chars)

    Nicely renovated 4 bedroom 2 bath home. Master bedroom ensuite on the entry level and (3) additional bedrooms and full bath located on the upper level. Hardwood floors throughout the home, replacement windows, updated gas furnace and central air, hot water heater, storage shed and insulated attic. Close to Roanoke Memorial Hospital and Downtown. Used as an Airbnb for the past 4 years and can provide financial info upon request.

20. 2017-08-25
    soldstatus $99,500 457-char remark

    Show marketing remark (457 chars)

    ATTENTION INVESTORS! Call me about the great rental income the owner is receiving! You won't believe it! Beautifully renovated 4 bedroom, 2 full bath home with 1st floor master en suite and 1st floor laundry, hardwood wood floors throughout and nothing left to do but move in! (2015) New replacement windows, new gas furnace and central air, new water heater, new storage shed, newly insulated attic. Great family home or money maker home for investors.

21. 2017-08-25
    soldstatus $99,500

    Show marketing remark (457 chars)

    ATTENTION INVESTORS! Call me about the great rental income the owner is receiving! You won't believe it! Beautifully renovated 4 bedroom, 2 full bath home with 1st floor master en suite and 1st floor laundry, hardwood wood floors throughout and nothing left to do but move in! (2015) New replacement windows, new gas furnace and central air, new water heater, new storage shed, newly insulated attic. Great family home or money maker home for investors.

22. 2017-03-15
    listed $99,500 457-char remark

    Show marketing remark (457 chars)

    ATTENTION INVESTORS! Call me about the great rental income the owner is receiving! You won't believe it! Beautifully renovated 4 bedroom, 2 full bath home with 1st floor master en suite and 1st floor laundry, hardwood wood floors throughout and nothing left to do but move in! (2015) New replacement windows, new gas furnace and central air, new water heater, new storage shed, newly insulated attic. Great family home or money maker home for investors.

23. 2014-04-18
    soldstatus $46,000
24. 2014-03-06
    listed $40,000
25. 2013-11-30
    historical
26. 2013-05-29
    listed $64,950
27. 2009-03-10
    soldstatus $90,400
28. 2008-11-19
    listed $89,950
29. 2008-10-08
    soldstatus $46,501
30. 2008-08-15
    listed $48,500
31. 2006-10-16
    soldstatus $83,000
32. 2006-09-25
    soldstatus $83,000
33. 2006-05-30
    listed $86,950
34. 2006-03-23
    soldstatus $32,500
35. 2006-03-01
    listed $31,900
36. 2006-02-13
    historical
37. 2005-12-31
    listed $71,825
38. 2001-05-10
    historical
39. 2000-10-21
    listed $66,500
40. 2000-07-18
    soldstatus $49,000
41. 2000-01-31
    listed $33,500

ⓘ 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: $2,285 · $190/mo
• Projected year-2 tax: $2,285 · $190/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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 20 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: $21,026
• − Mortgage interest: −$11,198
• − Property taxes: −$2,285
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,682
• − Management: −$1,682
• − Depreciation: −$5,815
• Taxable loss: −$2,635
• Est. tax savings @ 24.0%: +$632
• After-tax cash flow: $1,379/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

+526.9% since first listed

26 events — show timeline

• 2026-05-25 Listed $210,000 MLSRV
• 2021-06-21 Sold (Public Records) $135,000 Public Records
• 2021-06-17 Sold (MLS) $135,000 MLSRV
• 2021-04-23 Listed $139,950 MLSRV
• 2017-08-25 Sold (Public Records) $99,500 Public Records
• 2017-08-25 Sold (MLS) $99,500 MLSRV
• 2017-03-15 Listed $99,500 MLSRV
• 2014-04-18 Sold (MLS) $46,000 MLSRV
• 2014-03-06 Listed $40,000 MLSRV
• 2013-11-30 Listing Removed — MLSRV
• 2013-05-29 Listed $64,950 MLSRV
• 2009-03-10 Sold (MLS) $90,400 MLSRV
• 2008-11-19 Listed $89,950 MLSRV
• 2008-10-08 Sold (MLS) $46,501 MLSRV
• 2008-08-15 Listed $48,500 MLSRV
• 2006-10-16 Sold (MLS) $83,000 MLSRV
• 2006-09-25 Sold (Public Records) $83,000 Public Records
• 2006-05-30 Listed $86,950 MLSRV
• 2006-03-23 Sold (MLS) $32,500 MLSRV
• 2006-03-01 Listed $31,900 MLSRV
• 2006-02-13 Listing Removed — MLSRV
• 2005-12-31 Listed $71,825 MLSRV
• 2001-05-10 Listing Removed — MLSRV
• 2000-10-21 Listed $66,500 MLSRV
• 2000-07-18 Sold (MLS) $49,000 MLSRV
• 2000-01-31 Listed $33,500 MLSRV

Property tax history

+10.1%/yr

Latest (2025): $2,285 · +13.4% YoY. Source: county tax records.