1202 Melrose Ave NWRoanokeVA24017
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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
Investment Highlights
Rental property for sale in Roanoke at 1202 Melrose Ave NW, Roanoke, VA, 24017 offers $1,180/mo rent that, after a $864/mo payment, leaves $125/mo cash flow. Total monthly income is $1,180/mo, and annual cash flow is $1,498/yr on $58,493 cash. Return on cash invested measures 22.47% in year one, and rental yield stands at 8.02% at a $176,450 entry. Equity gained on principal adds $1,139/yr while 5% annual appreciation compounds into $48,750 by year five. Five-year ROI records 116.29% and total cumulative return in cash reaches $68,022. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,180/mo property income versus a $864/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
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
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