1724 Wise Ave SE · Roanoke, VA 24013

$55,000

4 bd · 1.0 ba · 1,323 sqft · SingleFamily public records · 15 Days on market

Built 1916 $42/sqft · 56% below area

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

Listing remarks

INVESTOR SPECIAL! 4bdr, 1bth home with basement! Tons of potential in the very HOT SE area only minutes from downtown Roanoke! Don& apos; t miss this opportunity! Property will need partial/full rehab, sold as-is.

Key facts

• Built 1916
• Listed 14 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $923 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.4% 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: 77 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).
• This rent runs 39% 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 $380 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $44k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1916 — 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. 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.
6. 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.
7. 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: 2.99% ✓
• Cap rate: 26.42%
• Cash-on-cash: 71.90%
• DSCR: 4.20
• GRM: 2.8

CMA / ARV

• ARV (median comp): $124,459
• List price: $55,000
• Delta: -55.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 16th St SE	0.14mi	3/1.5 (-1)	1,400 (+6%)	1mo	$180,000	$129	76
1514 Church Ave SE	0.23mi	3/1.0 (-1)	1,200 (-9%)	6mo	$140,000	$117	64
1414 Campbell Ave SE	0.22mi	3/1.0 (-1)	1,224 (-8%)	11mo	$89,000	$73	64
1160 Montrose Ave SE	0.70mi	3/1.0 (-1)	1,332 (+1%)	8mo	$130,000	$98	55
1215 Tazewell Ave SE	0.40mi	3/1.0 (-1)	1,476 (+12%)	4mo	$82,500	$56	53
1110 Tazewell Ave SE	0.48mi	3/1.0 (-1)	1,248 (-6%)	13mo	$129,000	$103	52
421 7th St	0.73mi	3/1.0 (-1)	1,252 (-5%)	1mo	$100,000	$80	51
1124 Jamison Ave	0.58mi	3/2.5 (-1)	1,206 (-9%)	6mo	$175,000	$145	42
2236 Kenwood Blvd SE	0.73mi	3/2.5 (-1)	1,260 (-5%)	11mo	$250,000	$198	38
922 11th St SE	0.73mi	4/1.5	1,176 (-11%)	11mo	$185,000	$157	36
1522 Archbold Ave NE	0.71mi	3/2.5 (-1)	1,260 (-5%)	16mo	$250,000	$198	35
1464 Varnell Ave NE	0.74mi	3/2.0 (-1)	1,204 (-9%)	11mo	$239,000	$199	32

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: 71.6%
• Equity multiple: 4.24×
• Total profit: $49,879
• Equity at exit: $8,201

10-year hold

• IRR: 75.5%
• Equity multiple: 8.74×
• Total profit: $119,201
• Equity at exit: $4,755

Cash invested: $15,400 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,646 high
• Mortgage (P&I): −$288
• Tax from tax record: −$67 /mo · $799/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $923

Break-even live

Break-even rent $478

Max offer price $55,000

Occupancy floor 39%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1817 Dale Ave SE Roanoke, VA	3.0	1.0	1820	$2,100	$1.15	43d	1	0.41mi
909 13th St SE Roanoke, VA	3.0	1.0	1870	$1,199	$0.64	43d	1	0.53mi
1016 15th St SE #2 Roanoke, VA	3.0	1.5	1084	$995	$0.92	13d	1	0.57mi
1015 12th St SE Roanoke, VA	3.0	1.0	1072	$923	$0.86	43d	1	0.65mi
730 Murray Ave SE Roanoke, VA	3.0	1.0	1163	$1,525	$1.31	43d	1	1.03mi
730 Murray Ave SE Roanoke, VA	3.0	1.0	1163	$1,525	$1.31	21d	1	1.03mi
1515 Dunbar St NW Roanoke, VA	3.0	2.0	1058	$1,623	$1.53	13d	1	1.17mi
2109 Colgate St NE Roanoke, VA	3.0	1.0	1240	$1,700	$1.37	13d	1	1.20mi
401 Rutherford Ave NW Roanoke, VA	3.0	1.0	1064	$1,450	$1.36	43d	1	1.43mi
333 Harrison Ave NW Roanoke, VA	3.0	2.0	1186	$1,123	$0.95	21d	1	1.43mi

Listing history 5 events

1. 2026-05-12
   listed $55,000 Active 206-char remark
2. 2009-08-07
   historical
3. 2008-08-14
   listed $92,500
4. 1998-03-27
   soldstatus $44,000
5. 1996-03-21
   soldstatus $32,000

ⓘ 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: $799 · $67/mo
• Projected year-2 tax: $799 · $67/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 3/10 Moderate FEMA zone X (shaded) · 17% 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,756
• − Mortgage interest: −$3,081
• − Property taxes: −$799
• − Insurance: −$275
• − Repairs & maintenance: −$1,581
• − Management: −$1,581
• − Depreciation: −$1,600
• Taxable income: $10,840
• Est. tax owed @ 24.0%: −$2,602
• After-tax cash flow: $8,471/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

+189.1% since first listed

4 events — show timeline

• 2009-08-07 Listing Removed — MLSRV
• 2008-08-14 Listed $92,500 MLSRV
• 1998-03-27 Sold (Public Records) $44,000 Public Records
• 1996-03-21 Sold (Public Records) $32,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $799 · -16.8% YoY. Source: county tax records.