$3,247 Closing Credit¹
#914862, Listing office: COMMERCIAL INVESTMENT REALTY CO L C
$229,950 List price
1406 Melrose Ave NW Roanoke, VA 24017
$2,731
Closing credit¹
2,302 sqft
0.2 acres
$100 / sqft
Multi-Family
Property details
About 1406 Melrose Ave NW
Calling all investors or home hackers! Don't miss the chance to discover this unique duplex investment opportunity in the heart of Roanoke! This updated duplex features two spacious 2-bedroom 1 bath units with fantastic cash flow potential! Located in a convenient growing area, this is the perfect chance to secure strong rental income with minimal effort.This property is tenant occupied (month to month) and is ideal for any investor looking to add to their portfolio. This is a rare opportunity to generate immediate cash flow or live in one unit while offsetting your mortgage with rental income from the other. Whether you're a first-time investor or growing your portfolio, this duplex checks every box. Schedule your private showing today!
Highlights
Home typeDuplex
HeatingHeat Pump
StatusActive
CoolingHeat Pump
Size2,302 sqft
Lot size0.16 Acres
Year builtNew Const., 1930
ParkingPrivate (1 - 9)
MLS #918590
Summary
- Basement: No
- Parking: Private (1 - 9)
- Heating: Heat Pump
- Cooling: Heat Pump
- List Price: $229,950
- Price/SqFt: $99
- Annual Tax Amount: $1,317
- Tax Year: 2024
- Directions: Orange Avenue to Right on 14th Street to Right on Melrose.
- Year Built: 1930
- Living Area: 2,302 SqFt
- Lot Size: 0.16 Acres
- MLS Number: 918590
- Office Name: DIVINE FOG REALTY COMPANY LLC- ROANOKE
Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.
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Last updated on: 6/25/2025, 9:45:30 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$229,950
1406 Melrose Ave NW
$2,731
closing credit¹
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Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $82,100 | $1,317 |
| 2023 | $64,500 | $786 |
| 2022 | $60,500 | $738 |
| 2021 | $56,400 | $688 |
| 2020 | $56,400 | $944 |
| 2019 | $49,700 | $792 |
| 2018 | $43,900 | $792 |
| 2017 | $43,900 | $600 |
History based on county public records data.
Nearby schools
2
Hurt Park Elementary School
Public District PK-5
0.6 mi
•1525 Salem Ave SW
4
Roanoke Academy for Math & Science
Public District PK-5
0.8 mi
•1616 19th St NW
3
Lincoln Terrace Elementary School
Public District PK-5
0.9 mi
•1802 Liberty Rd NW
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $23,876. Typical income of Roanoke, VA residents is less than $<35k annually. Residents typically live in single, no kids family. Typical level of education for residents in this area is high school diploma.
How much money do the neighbors make?
68%
<35k
30%
35k-100k
2%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Doctorate
What types of families live nearby?
55%
Single, No Kids
30%
Single, with Kids
8%
Married, No Kids
7%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
21%
<11 yrs old
10%
12-17 yrs old
19%
18-34 yrs old
39%
35-64 yrs old
11%
65+ yrs old
What do the neighbors do for fun?
UFC
NHRA Drag Racing- Pro Boxing
Where do the neighbors shop?
Family Dollar
Big Lots
Burlington
Where do the neighbors go to eat?
Burger King
Golden Corral
Popeyes
What do the neighbors drive?
Buick
Kia
Dodge
What do the neighbors listen to?
Urban Contemporary
Adult Standards
Jazz
All data provided by Home Junction and Claritas
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Frequently asked questions
About 1406 Melrose Ave NW
The listing price of 1406 Melrose Ave NW property is $229,950.
The property 1406 Melrose Ave NW is a multi located in Roanoke, Virginia, 24017.
Active Listing: 1406 Melrose Ave NW is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 1406 Melrose Ave NW are: Hurt Park Elementary School (GreatSchools Rating 2/10), Roanoke Academy for Math & Science (GreatSchools Rating 4/10), Lincoln Terrace Elementary School (GreatSchools Rating 3/10), Lucy Addison Middle School (GreatSchools Rating 2/10), James Breckinridge Middle School (GreatSchools Rating 2/10), Woodrow Wilson Middle School (GreatSchools Rating 3/10), William Fleming High School (GreatSchools Rating 2/10), Patrick Henry High School (GreatSchools Rating 3/10), Northside High School (GreatSchools Rating 5/10).
According to the records, the last property tax for 2024 is $1,317 (source: MLS/based on county public records data).
The property 1406 Melrose Ave NW is 2,302 SqFt (source: MLS/tax record).
The year of construction for 1406 Melrose Ave NW is 1930.
This home is located at 1406 Melrose Ave NW in Roanoke, VA and zip code 24017 in the Loudon / Melrose neighborhood. This 2,302 square foot home, which was built in 1930, sits on a 0.16 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since June 25, 2025 and is currently priced at $229,950.
Roanoke, VA housing market in May 2025 saw over 76 listings sold above listed price, more than 55 sold at listed price and over 61 sold below. The number of listings in Roanoke, VA increased by 28.1% between April and May 2025. While the average time on the market in May 2025 was 9 days, the median list price was $284,840.
From Rocket Homes Real Estate and based on county public records data.