1614 Eastern Ave NE Unit 1614 & 1616 · Roanoke, VA 24012

$199,950

None bd · None ba · — sqft · Condo · 28 Days on market

Built 1974 Average condition

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.2/30.0
• Rent growth +5.0/5.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.8/5.0
• 1% rule +1.4/10.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor special in NE Roanoke. This duplex offers two separate 2BR/1BA units, each equipped with an electric stove, refrigerator, washer, and dryer. Property does need TLC, particularly on the exterior, but it wouldn't take much to turn this into a strong income-producing asset. Great opportunity for value-add investors looking to improve and increase rental potential. Being sold as-is, with solid upside for anyone ready to bring it back to life. Convenient location near downtown, transit, and major employment centers makes it appealing for long-term tenants.

Key facts

• 7,405 sq ft lot
• 2 parking spots
• Built 1974

What this means for you Summary

Snapshot

• This is a condo listed at $200k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-363 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (26.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (35.5% below list).
• Recommended offer: $129k (35.5% below list) — sets the bar for 1% rule.

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: Fallon Park Elementary (math 33% / reading 42%, grade F, #931 of 1,108 statewide, top 84%, 533 students, 99% FRL); John P. Fishwick Middle (math 33% / reading 60%, grade D+, #264 of 342 statewide, top 77%, 501 students, 98% FRL); William Fleming High (math 66% / reading 68%, grade B, #185 of 319 statewide, top 61%, 1,911 students, 96% FRL) — zoned schools average 98% FRL vs 67% district-wide (31 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.5%/yr); 196 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $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 28 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $128,929 (35.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.64% ✗
• Cap rate: 4.11%
• Cash-on-cash: -7.79%
• DSCR: 0.65
• GRM: 12.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -24.6%
• Equity multiple: 0.13×
• Total profit: $-48,704
• Equity at exit: $29,813

10-year hold

• IRR: -10.0%
• Equity multiple: 0.27×
• Total profit: $-41,113
• Equity at exit: $17,288

Cash invested: $55,986 (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 24012

• Rents YoY: 10.5%
• Active inventory: 196
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,289 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $2,999/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-363

Break-even live

Break-even rent $1,749

Max offer price $147,384

Occupancy floor —

Sensitivity live

Price	-10% $-225	-5% $-294	+0% $-363	+5% $-432	+10% $-501
Rent	-10% $-465	-5% $-414	+0% $-363	+5% $-312	+10% $-261
Rate	-1.0pp $-263	-0.5pp $-312	base $-363	+0.5pp $-415	+1.0pp $-468

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: $49,988
• Closing costs: $5,998
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1708 Baldwin Ave NE Unit A Roanoke, VA	2.0	1.5	952	$1,550	$1.63	45d	1	0.18mi
1824 Eastern Ave NE Roanoke, VA	2.0	1.0	863	$1,200	$1.39	45d	1	0.23mi
1415 15th St NE Roanoke, VA	1.0	1.0	566	$995	$1.76	14d	1	0.25mi
1423 Varnell Ave NE Roanoke, VA	2.0	1.0	720	$1,650	$2.29	14d	1	0.26mi
321 9th St #6 Vinton, VA	1.0	1.0	546	$696	$1.27	45d	1	0.29mi
220 8th St Vinton, VA	2.0	1.0	850	$1,199	$1.41	14d	1	0.43mi
1905 Wise Ave SE Roanoke, VA	2.0	1.0	1044	$1,123	$1.08	14d	1	0.57mi
916 Kyle Ave NE Roanoke, VA	2.0	1.0	642	$2,250	$3.50	14d	1	0.69mi
339 Cedar Ave Vinton, VA	2.0	1.0	830	$1,200	$1.45	45d	1	0.74mi
100 Highland Rd Vinton, VA	1.0–2.0	1.0–2.0	665	$1,195	$1.80	14d	1	0.76mi
233 W Cleveland Ave Vinton, VA	2.0	1.0	1270	$1,250	$0.98	45d	1	0.79mi
1605 Church Ave SE Roanoke, VA	2.0	1.0	776	$1,200	$1.55	14d	1	0.80mi
2101 Fallon Ave SE Roanoke, VA	1.0	1.0	—	$938	—	14d	1	0.88mi
1817 Dale Ave SE Roanoke, VA	3.0	1.0	1820	$2,100	$1.15	45d	1	0.89mi
601 Orange Ave NE Roanoke, VA	1.0	1.0	518	$1,234	$2.38	14d	9	0.95mi
1630 Wayne St NE Roanoke, VA	1.0	1.0	750	$950	$1.27	14d	1	1.03mi
1712 Wayne St NE Roanoke, VA	2.0	1.0	826	$1,250	$1.51	22d	1	1.04mi
1016 15th St SE #2 Roanoke, VA	3.0	1.5	1084	$995	$0.92	14d	1	1.06mi
2802 Vinyard Ave NE Unit 2 Roanoke, VA	2.0	1.0	950	$1,295	$1.36	14d	1	1.07mi
2812 Vinyard Ave NE Unit 2 Roanoke, VA	2.0	1.0	950	$1,295	$1.36	22d	1	1.08mi
909 13th St SE Roanoke, VA	3.0	1.0	1870	$1,199	$0.64	45d	1	1.10mi
2109 Colgate St NE Roanoke, VA	3.0	1.0	1240	$1,700	$1.37	14d	1	1.10mi
133 10 1/2 St SE Unit B Roanoke, VA	1.0	1.0	—	$646	—	14d	1	1.11mi
301 E Cleveland Ave Unit 1 Vinton, VA	1.0	1.0	650	$1,050	$1.62	45d	1	1.13mi
317 Jefferson Ave Vinton, VA	2.0	1.0	980	$1,525	$1.56	45d	1	1.17mi
922 12th St SE Unit A Roanoke, VA	2.0	1.0	800	$899	$1.12	45d	1	1.18mi
2107 Kings Walk Dr NE Roanoke, VA	3.0	2.5	2300	$2,950	$1.28	45d	1	1.18mi
1138 Highland Ave SE Roanoke, VA	1.0	1.0	320	$895	$2.80	14d	1	1.18mi
3006 Hickory Woods Dr NE Roanoke, VA	1.0–3.0	1.0–2.0	922	$1,608	$1.74	14d	20	1.21mi
1015 12th St SE Roanoke, VA	3.0	1.0	1072	$923	$0.86	45d	1	1.21mi
410 Jefferson Ave Unit D Vinton, VA	1.0	1.0	650	$900	$1.38	22d	1	1.22mi
1020 Jamison Ave SE Unit 3 Roanoke, VA	2.0	1.0	—	$1,000	—	22d	1	1.23mi
538 Chestnut St Vinton, VA	1.0	1.0	675	$950	$1.41	14d	1	1.29mi
312 Bowman St Unit 212 Vinton, VA	2.0	1.0	1246	$850	$0.68	22d	1	1.29mi
314 Bowman St Vinton, VA	1.0	1.0	728	$1,050	$1.44	45d	1	1.30mi
418 Polk Ave Unit A Vinton, VA	2.0	1.0	—	$925	—	14d	1	1.31mi
528 E Cleveland Ave Unit 3 Vinton, VA	2.0	1.0	787	$1,475	$1.87	22d	1	1.32mi
528 E Cleveland Ave Unit 8 Vinton, VA	2.0	1.0	786	$1,395	$1.77	45d	1	1.32mi
528 E Cleveland Ave Unit 5 Vinton, VA	2.0	1.0	889	$1,495	$1.68	45d	1	1.32mi
528 E Cleveland Ave Unit 6 Vinton, VA	2.0	1.0	875	$1,525	$1.74	45d	1	1.32mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-04-16
   status Pending
2. 2026-03-19
   listed $199,950 Active
3. 2026-03-18
   historical $199,950

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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: $15,471
• − Mortgage interest: −$11,200
• − Property taxes: −$2,999
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$5,817
• Taxable loss: −$8,020
• Est. tax savings @ 24.0%: +$1,925
• After-tax cash flow: $-2,434/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab

This two-unit duplex requires moderate renovations to improve its appearance and value. Painting, updating interiors, and landscaping can significantly increase its resale and rental potential.

Repairs flagged

• Major exterior paint — Significant discoloration and wear
• Major interior paint — Paint appears faded and uneven
• Major tile flooring — Worn and in need of replacement
• Major landscaping — Overgrown and in need of trimming

Value-add opportunities

• Both Painting and updating interior — Fresh paint and updates can significantly improve the home's appeal
• Both Landscaping and curb appeal — A well-maintained exterior can attract more tenants and buyers
• Both Floor refinishing — New flooring can enhance the home's value and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Significant discoloration and wear	Major	$15,000–50,000
interior paint · Paint appears faded and uneven	Major	$15,000–50,000
tile flooring · Worn and in need of replacement	Major	$15,000–50,000
landscaping · Overgrown and in need of trimming	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Painting and updating interior — Fresh paint and updates can significantly improve the home's appeal ↑
• Both Landscaping and curb appeal — A well-maintained exterior can attract more tenants and buyers ↑
• Both Floor refinishing — New flooring can enhance the home's value and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 28,235
• Household income: $52,973
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1360.0

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 60% Black 16% Hispanic / Latino 14% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Romanian 2% Slovak 2% Serbian 1%
• Foreign-born: 11% · Canada, Vietnam, Jamaica
• Languages at home: 84% English-only · Spanish 11% Other Asian/Pacific 2% Vietnamese 2%

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: ▼ -137.94%
• Current HPI: 186.9007
• Rent YoY: ▲ 10.46%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-04-16 Pending — MLSRV
• 2026-03-19 Listed $199,950 MLSRV
• 2026-03-18 Coming Soon $199,950 MLSRV