NOT LISTED FOR SALE

1317 3rd St SW Roanoke, VA 24016

Old Southwest Neighborhood

Estimated Value: $568,921

Studio
6 Baths
3,367 Sq Ft
$169/Sq Ft Est. Value

Last Sold August 02, 2019

Last sale price $316,000 $94 Per Sq Ft

Est. 80% increase in value since last sale

Current estimated payment $3,381/month

84 Days on Market

Highlights

  • No HOA
  • Central Air
  • Laundry Facilities

About This Home

As of August 2019

Fantastic investment opportunity near Med Center! Hard to come by Mixed Use building in Old Southwest Historic District! Offers both residential and commercial units. Building in 'A' condition with off-street parking for 4 cars plus rear entrance. High occupancy rate - two additional commercial rental units (A & C) are currently used by Owner (FMV $650/mo). Commercial spaces share break room, waiting room, restroom plus laundry hook-ups. Oversized foyer & showy staircase included in common area. Open, loft-style apt on 3rd floor. 2nd floor has two 2 BR apts. Usable basement offers laundry & abundant storage. Separate electric meters for Apts. Must see to appreciate!

Last Agent to Sell the Property

Valerie Eagle

PARK PLACE REALTY INC License #0225043304 Listed on: 03/25/2019

Last Buyer's Agent

Tracy Loving

WAINWRIGHT & CO., REALTORS(r) License #0225232535

WAINWRIGHT & CO., REALTORS(r)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,105

Year Built

  • Built in 1910

Lot Details

  • 6,534 Sq Ft Lot
  • Lot Dimensions are 45 x 150

Home Design

  • 3,367 Sq Ft Home
  • Triplex
  • Brick Exterior Construction

Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House

Schools

  • Highland Park Elementary School
  • James Madison Middle School
  • Patrick Henry High School

Utilities

  • Central Air
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for electricity
  • Month-to-Month Lease Term
  • Legal Lot and Block 11 / 1

Community Details

Overview

  • No Home Owners Association
  • 7 Units
  • Old Southwest Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 5 Leased Units
  • Electric Expense $1,522
  • Insurance Expense $1,000
  • Maintenance Expense $1,000
  • Manager Expense $3,372
  • Other Expense $860
  • Water Sewer Expense $942
  • New Taxes Expense $3,105
  • Operating Expense $11,801
  • Gross Income $30,217
  • Net Operating Income $18,416

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,105

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Heating System: Heat Pump Electric
  • Type: Multi-Family
  • Has Basement: Walkout - Full
  • Cooling System: Central Cooling
  • ExpensesManagementExp: 3372.00
  • ExpensesOtherExp: 860.00
  • ExpensesTaxExp: 3105.00
  • Major Area: 01 - City of Roanoke
  • MiscellaneousInfoPublicTransport: Yes
  • NumberLeasedUnits: 5.00
  • NumberUnfurnished: 7.00
  • Hoa2 Or Poa: No
  • TotalAnnualExpen: 11801.00
  • Water Class: N/A
  • YardSign: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement YN: Yes

Garage/Parking

  • Parking Description: Private (1 - 9)

Utilities

  • Sewer Description: Public Sewer
  • Expenses Water Exp: 942.00
  • Water Description: Public Water

Association/Amenities

  • Misc Features: Current Lease, Laundry Facility

Lot Info

  • Lot Dimensions: 45 x 150
  • Property Group Id: 19990816212116581394000000
  • Total Acreage: 0.15
  • Lot: 11
  • Present Use: Converted
  • ZoningCode: MX

Building Info

  • Year Built: 1910

Tax Info

  • Taxes (6 mo): 3105.00

Multi Family

  • Lease Type: Month-to-Month, One Year
  • Tenant Pays: Electricity
  • Units In Building: 7.00
  • Multi Family Type: Triplex

MLS Schools

  • Elementary School: Highland Park
  • HighSchool: Patrick Henry
  • Middle School: James Madison

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 25, 2019
Closed on
Jul 25, 2019
Sold by
Lewis & Schmitz Llc
Bought by
Mattox Timothy Ian and Mattox Sherry Strange
Seller's Agent
Valerie Eagle
PARK PLACE REALTY INC
Buyer's Agent
Tracy Loving
WAINWRIGHT & CO., REALTORS(r)
List Price
$325,000
Sold Price
$316,000
Premium/Discount to List
-$9,000
-2.77%
Current Estimated Value
$568,921

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$252,921
Avg. Annual Appreciation
9.59%

Purchase Details

Listed on
Sep 24, 2012
Closed on
Oct 24, 2013
Sold by
Moeller David S
Bought by
Lewis & Schmitz Llc
Buyer's Agent
Valerie Eagle
PARK PLACE REALTY INC
List Price
$245,000
Sold Price
$227,500
Premium/Discount to List
-$17,500
-7.14%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.03%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Mattox Timothy Ian $316,000 First Choice Title & Setmnt
Lewis & Schmitz Llc $227,500 Acquisition Title & Settleme
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/02/2019 08/02/19 Sold $316,000 -2.8% $94 / Sq Ft
06/17/2019 06/17/19 Pending -- -- --
03/25/2019 03/25/19 For Sale $325,000 +42.9% $97 / Sq Ft
12/23/2013 12/23/13 Sold $227,500 -7.1% $63 / Sq Ft View Prior Sale
09/11/2013 09/11/13 Pending -- -- --
09/24/2012 09/24/12 For Sale $245,000 -- $67 / Sq Ft
Source: Roanoke Valley Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,868 $372,800 $63,100 $309,700
2024 $4,868 $342,800 $61,300 $281,500
2023 $4,491 $326,400 $55,700 $270,700
2022 $3,959 $301,800 $55,700 $246,100
2021 $3,815 $291,400 $50,600 $240,800
2020 $3,796 $291,400 $50,600 $240,800
2019 $3,346 $254,500 $47,300 $207,200
2018 $3,261 $247,500 $47,300 $200,200
2017 $2,986 $236,800 $44,700 $192,100
2016 $2,986 $236,800 $44,700 $192,100
2015 $2,818 $236,800 $44,700 $192,100
2014 $2,818 $236,800 $44,700 $192,100
Source: Public Records

Agents Affiliated with this Home

  • Valerie Eagle

    Seller's Agent in 2019

    Valerie Eagle

    PARK PLACE REALTY INC

    (540) 537-1808

    13 in this area

    58 Total Sales

    Valerie Eagle
    Section Image
  • Tracy Loving

    Buyer's Agent in 2019

    Tracy Loving

    WAINWRIGHT & CO., REALTORS(r)

    (540) 589-1578

    8 Total Sales

    Tracy Loving
    Section Image
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Map

Source: Roanoke Valley Association of REALTORS®

MLS Number: 857308

Roanoke Valley Association of REALTORS®

APN: 103-0511

Virginia Roanoke City County Roanoke 24016 Old Southwest

1317 3rd St SW, Roanoke, VA

Not Listed for Sale

MultiFamily

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