845 Day Ave SW · Roanoke, VA 24016

$125,000

5 bd · 5.0 ba · 4,012 sqft · Other public records · 182 Days on market

Built 1923 7,840 sqft lot $31/sqft · 70% 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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

RARE RENOVATION OF A CLASSIC AMERICAN FOURSQUARE IN SW ROANOKE! Formerly a 5-unit building, this solid brick property offers substantial potential for those prepared to undertake a full restoration in one of Roanoke's most sought-after neighborhoods. the structure presents a unique opportunity to reimagine a home with notable architectural presence. Zoned single-family with the option to pursue duplex approval through Roanoke City's Special Exception process, providing flexibility for future planning. Located within the Historic Southwest District, where exterior renovations are reviewed by the Historic Architectural Review Board, recognized for working collaboratively with owners to maintain the area's character. A rare blank canvas ready for a comprehensive redesign into a custom residence or a thoughtfully planned duplex.

Key facts

• Zoned single-family
• Solid brick property
• 7,840 sq ft lot

Tags

• SOLID BRICK PROPERTY
• ZONED SINGLE-FAMILY
• HISTORIC SOUTHWEST DISTRICT

What this means for you Summary

Snapshot

• This is a 5-bed/5.0-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $659 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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.
• Market conditions: Rents flat; 91 active listings in the ZIP; 113 units permitted in Roanoke city in 2024 (0 in 5+ unit buildings).
• At $1,857/mo this rent would consume 48% of the median local household income ($47k/yr) (locally 728% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 0.7% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask is 25% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $25k; list at $125k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 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 1923 — 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. 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: 1.49% ✓
• Cap rate: 12.62%
• Cash-on-cash: 22.60%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (median comp): $349,032
• List price: $125,000
• Delta: -64.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.72% rent growth · sell at horizon

5-year hold

• IRR: 12.9%
• Equity multiple: 1.50×
• Total profit: $17,553
• Equity at exit: $18,638

10-year hold

• IRR: 20.0%
• Equity multiple: 2.51×
• Total profit: $52,985
• Equity at exit: $10,808

Cash invested: $35,000 (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 24016

• Home prices YoY: -27.6%
• Rents YoY: 0.7%
• Active inventory: 91
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,857 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$100 /mo · $1,206/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $659

Break-even live

Break-even rent $1,023

Max offer price $125,000

Occupancy floor 60%

Sensitivity live

Price	-10% $730	-5% $695	+0% $659	+5% $624	+10% $588
Rent	-10% $512	-5% $586	+0% $659	+5% $732	+10% $806
Rate	-1.0pp $722	-0.5pp $691	base $659	+0.5pp $627	+1.0pp $594

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-14
   days on market $125,000 Active 182 DOM
2. 2026-06-13
   days on market $125,000 Active 181 DOM
3. 2026-06-10
   days on market $125,000 Active 179 DOM
4. 2026-06-09
   days on market $125,000 Active 178 DOM
5. 2026-06-08
   days on market $125,000 Active 177 DOM
6. 2026-06-05
   days on market $125,000 Active 173 DOM
7. 2026-06-03
   days on market $125,000 Active 172 DOM
8. 2026-06-02
   days on market $125,000 Active 171 DOM
9. 2026-06-01
   days on market $125,000 Active 170 DOM
10. 2026-05-31
    days on market $125,000 Active 169 DOM
11. 2026-05-30
    days on market $125,000 Active 168 DOM
12. 2026-03-30
    price $125,000 836-char remark

    Show marketing remark (836 chars)

    RARE RENOVATION OF A CLASSIC AMERICAN FOURSQUARE IN SW ROANOKE! Formerly a 5-unit building, this solid brick property offers substantial potential for those prepared to undertake a full restoration in one of Roanoke's most sought-after neighborhoods. the structure presents a unique opportunity to reimagine a home with notable architectural presence. Zoned single-family with the option to pursue duplex approval through Roanoke City's Special Exception process, providing flexibility for future planning. Located within the Historic Southwest District, where exterior renovations are reviewed by the Historic Architectural Review Board, recognized for working collaboratively with owners to maintain the area's character. A rare blank canvas ready for a comprehensive redesign into a custom residence or a thoughtfully planned duplex.

13. 2025-12-13
    listed $99,995 Active 836-char remark

    Show marketing remark (836 chars)

    RARE RENOVATION OF A CLASSIC AMERICAN FOURSQUARE IN SW ROANOKE! Formerly a 5-unit building, this solid brick property offers substantial potential for those prepared to undertake a full restoration in one of Roanoke's most sought-after neighborhoods. the structure presents a unique opportunity to reimagine a home with notable architectural presence. Zoned single-family with the option to pursue duplex approval through Roanoke City's Special Exception process, providing flexibility for future planning. Located within the Historic Southwest District, where exterior renovations are reviewed by the Historic Architectural Review Board, recognized for working collaboratively with owners to maintain the area's character. A rare blank canvas ready for a comprehensive redesign into a custom residence or a thoughtfully planned duplex.

14. 2021-07-23
    soldstatus $25,000 298-char remark

    Show marketing remark (298 chars)

    Property was formally a 5 unit apartment. Due to a fire it is now zoned as a single family or with special exception through Roanoke City it can be a duplex. Property has been condemned. Property's structural integrity is unknown. Fire damage, water damage and mold present. Enter at your own risk.

15. 2021-04-07
    listed $34,900 298-char remark

    Show marketing remark (298 chars)

    Property was formally a 5 unit apartment. Due to a fire it is now zoned as a single family or with special exception through Roanoke City it can be a duplex. Property has been condemned. Property's structural integrity is unknown. Fire damage, water damage and mold present. Enter at your own risk.

16. 2021-04-05
    soldstatus $90,000
17. 2019-08-23
    historical
18. 2019-05-28
    listed $79,000
19. 1996-06-27
    soldstatus $45,000

ⓘ 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: $1,206 · $100/mo
• Projected year-2 tax: $1,206 · $100/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 ≥101°F today · 19 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: $22,287
• − Mortgage interest: −$7,002
• − Property taxes: −$1,206
• − Insurance: −$625
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$3,636
• Taxable income: $6,252
• Est. tax owed @ 24.0%: −$1,500
• After-tax cash flow: $6,409/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): 10,521
• Household income: $46,512
• Rent vs Own: 78.7% rent · 21.3% own
• Severe rent burden: 728.0

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 48% White 42% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Italian 2% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -98.06%
• Current HPI: 257.8158
• Rent YoY: ▲ 0.72%
• 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

+177.8% since first listed

8 events — show timeline

• 2026-03-30 Price Changed $125,000 MLSRV
• 2025-12-13 Listed $99,995 MLSRV
• 2021-07-23 Sold (MLS) $25,000 MLSRV
• 2021-04-07 Listed $34,900 MLSRV
• 2021-04-05 Sold (Public Records) $90,000 Public Records
• 2019-08-23 Listing Removed — MLSRV
• 2019-05-28 Listed $79,000 MLSRV
• 1996-06-27 Sold (Public Records) $45,000 Public Records

Property tax history

-2.1%/yr

Latest (2025): $1,206 · +9.4% YoY. Source: county tax records.