1202 Melrose Ave NWRoanokeVA24017
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 1202 Melrose Ave NW, Roanoke, VA, 24017 in Roanoke at $176,450 earns $1,180/mo in rent and nets $125/mo after the $793/mo payment, a 8.02% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $48,750 over five years. Ziffy Mortgage underwrites this on a 1.49 DSCR without U.S. credit history. With $1,625/yr in principal paydown, total projected return reaches $74,826.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8% | 4.8% |
| Monthly Cash Flow | $125 | $850 |
City averages based on Roanoke market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,180 |
| Total Monthly Debt Service | $985 |
| DSCR Ratio | 1.20x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Multi Family
Built in 1925
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24017, Roanoke, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,832 (100%) |
| Owner Occupied HU | 4,937 (45.6%) |
| Renter Occupied HU | 4,745 (43.8%) |
| Vacant Housing Units | 1,150 (10.6%) |
| Median Home Value | $179,363 |
| Average Home Value | $249,002 |
Housing Distribution
Address Breakdown
Residential
10,227
Single Family
9,345
Multi-Family
882
Businesses
659
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Multi Family
Built in 1925
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 24017, Roanoke, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,832 (100%) |
| Owner Occupied HU | 4,937 (45.6%) |
| Renter Occupied HU | 4,745 (43.8%) |
| Vacant Housing Units | 1,150 (10.6%) |
| Median Home Value | $179,363 |
| Average Home Value | $249,002 |
Housing Distribution
Address Breakdown
Residential
10,227
Single Family
9,345
Multi-Family
882
Businesses
659
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices