masterkey logo
1503 Roanoke Ave SW
Score
0
Roanoke, VA

1503 Roanoke Ave SW

400K
4 bd • 4 ba • 2,454 sf

This analysis was generated on 2/11/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

0:00
0:00 / 0:00
List Price

$400,000

Price/Sq.Ft

$163

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Spacious square footage: With 2,454 sqft of living space, this property offers ample room for families or those who desire extra space for home offices or hobbies. This is more than the average Roanoke home size, which is closer to 1,800 sqft. • Multiple bedrooms and bathrooms: The property features 4 bedrooms and 4 bathrooms, providing comfortable living arrangements for larger families or those who frequently host guests. This is ideal for maximizing rental income, with 4-bedroom units in Roanoke fetching an average of $1,533 in 2023. • Attractive price per square foot: At $163.00 per square foot, the property is competitively priced compared to the Roanoke market average. This may present an opportunity for buyers seeking value. • Proximity to city amenities: Located on Roanoke Ave SW, the property is likely close to city amenities, such as shops, restaurants, and schools. This convenient location enhances its desirability.

The Bad

• Unknown year built: The lack of information about the year the property was built makes it difficult to assess its condition and potential maintenance needs. Older homes may have outdated systems and require more frequent repairs. • No property description or room details: The absence of a property description and room details makes it challenging to visualize the layout and features of the home. This lack of information may deter potential buyers. • No listed property features: The absence of listed property features makes it difficult to assess the property's value and compare it to other homes in the area. Key features like updated appliances, hardwood floors, or a fenced yard can significantly impact a property's appeal. • No utility information: The lack of utility information makes it difficult to estimate monthly expenses and assess the property's energy efficiency. Older homes may have outdated systems that lead to higher utility bills.

The Ugly

• Potential for hidden issues due to unknown age: The lack of information about the property's age raises concerns about potential hidden issues, such as outdated wiring, plumbing problems, or structural defects. These issues can be costly to repair. • Risk of lead paint or asbestos: If the property was built before 1978, there is a risk of lead-based paint. If built before the 1980s, asbestos may be present. Testing and remediation can add significant expenses. • Hillside risks: The location in Roanoke means the property is likely on a hillside. These properties are prone to foundation issues, drainage problems, and accessibility challenges during winter. Addressing these issues can be costly and time-consuming. • Unknown renovation history: Without knowing if the property has been renovated, there's a risk that essential updates have been deferred, potentially leading to costly repairs in the near future.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Multi-generational households seeking ample space: With 4 bedrooms and 4 bathrooms spread across 2,454 sqft, this property offers comfortable living arrangements for larger families or those who desire extra rooms for guests or home offices. • Buyers who appreciate architectural styles: The house's exterior showcases a distinctive architectural style, which may appeal to those seeking properties with unique design elements and curb appeal. • Buyers who want options for rental income: The property's size and layout may allow for the creation of a separate rental unit, potentially generating additional income to offset homeownership costs. The average rent for a 4-bedroom unit in Roanoke is $1,533. • Buyers seeking properties with potential for expansion: The lot size and zoning regulations may allow for future additions or renovations to further enhance the property's value and functionality. Contacting the Roanoke zoning department will provide clarity on expansion possibilities.

Not For

• Buyers seeking modern, move-in-ready homes: Given the lack of information about recent renovations or upgrades, the property may require updates or repairs to meet modern standards, potentially increasing the overall cost of ownership. • Buyers with limited budgets: The purchase price, combined with potential renovation costs, property taxes, and insurance, may make this property unaffordable for buyers with limited financial resources. Property taxes in Roanoke can range from 0.8% to 1.2% of the assessed value, and homeowner's insurance can cost between $800-$1,500 per year. • Buyers who want low-maintenance properties: The large lot size and unknown condition of the property may require significant time and effort for maintenance, which may not be suitable for buyers seeking low-maintenance living. Lawn care, landscaping, and potential repairs can add to the ongoing expenses.
Demographics
Area Median Income

$62,109

Property History

Price History
Ownership Timeline
$400,000Financed
May 11, 2023
Steven L WalkerJessica Ashleigh Thomasson
Deed
Standard Sale (Purchase/Resales)
$180,000Cash Purchase
Jan 7, 2021
Gus H Chacknes, Gus George PappasSteven L Walker
Deed
Standard Sale (Purchase/Resales)

Sunlight Analysis

Visualize how sunlight affects this property throughout the day and year.

Sunlight Analysis

Data provided by Shadowmap

Loading sunlight data...

Financials

Monthly Costs
Market Rent (4 bed)

$723

Get a detailed estimate on Zillow
Unlock Premium Features

Supercharge Your Property Analysis

Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.

Best for serious buyers
  • Unlimited AI analysis
  • Unlimited AI chat
  • Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$400,000
Price/sqft
$163
Layout
4 bd4 ba
0

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$334,500

19.6%

Your price is 19.6% above average

Median Price

$400,000

0.0%

Based on 6 recent sales

Price per Sq.Ft

$122

33.6%

Your price is 33.6% above average $/sqft

Comparable Properties

519 Woods AVE SW, Roanoke, VA 24016
Price: $400,000
Sq.Ft: 2,747
Beds/Baths: 3/3
$/Sq.Ft:
$14610.7%
Sale Date: 11/1/2024
806 Day AVE SW, Roanoke, VA 24016
Price: $425,000
Sq.Ft: 2,686
Beds/Baths: 3/3
$/Sq.Ft:
$1582.9%
Sale Date: 10/21/2024
1015 Chapman AVE SW, Roanoke, VA 24016
Price: $100,000
Sq.Ft: 2,418
Beds/Baths: N/A/N/A
$/Sq.Ft:
$4174.6%
Sale Date: 9/12/2024
2229 Russell AVE SW, Roanoke, VA 24015
Price: $265,000
Sq.Ft: 2,807
Beds/Baths: N/A/N/A
$/Sq.Ft:
$9442.1%
Sale Date: 10/27/2024
520 Walnut AVE SW, Roanoke, VA 24016
Price: $265,000
Sq.Ft: 2,933
Beds/Baths: N/A/N/A
$/Sq.Ft:
$9044.6%
Sale Date: 10/18/2024
1534 Westover AVE SW, Roanoke, VA 24015
Price: $552,000
Sq.Ft: 2,746
Beds/Baths: 5/3
$/Sq.Ft:
$20123.3%
Sale Date: 9/14/2024

Frequently Asked Questions

Property Discussion

Start the Conversation

Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.

You
Join 1,000+ buyers

Analyze Any Property for Free

Get instant insights and potential savings on any Zillow listing.

Free Analysis
AI-Powered Insights
Instant Results